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Best Marijuana Stocks To Buy This Week? 2 Delivering Strong Earnings In 2021

These Top US Pot Stocks Are Showing Strong Revenue Growth

This story originally appeared on MarijuanaStocks

Top US Marijuana Stocks 2021

This week Us cannabis companies are driving top marijuana stocks to invest in. For the most part, many leading American MSOs are delivering strong earnings, and some are setting record revenue growth. After reaching new highs in February 2021 the cannabis sector has been pulling back for the past five months. Now after several months of consolidation top pot stocks are bouncing off some of their lowest price points in 2021. - MarijuanaStocks

With an upward trend so far in August, this could be a good time to add some of the best-performing cannabis stocks to your watchlist. Right now, the US cannabis industry is seeing substantial growth and cannabis companies are expanding to gain market share. This growth has resulted in significant increases in sales for the leading US cannabis companies.  As many report earnings this month it’s important to watch to see who beats analysts’ expectations. Comparatively, these are usually the companies that deliver for shareholders the best returns.

Another factor that could cause upside in pot stocks is US marijuana legalization. On the state level, the cannabis industry has been growing rapidly across the US. On the other hand, much-needed federal policy changes on cannabis seem to be taking longer than investors and analysts expected. Although we have seen some progress in 2021, we still don’t have the introduction of cannabis legislation that will gain enough support to end prohibition.

Best Cannabis Stocks In 2021 As Marijuana Companies Report Earnings

For investors, this could be a good time to research top marijuana stocks to buy. One important factor that investors should be aware of is market activity. Most important, the cannabis sector has been known to be one of the more volatile areas of the market. This makes investing in cannabis a higher-risk investment for traders.  Because of this, you should always do your due diligence on a company before investing.

[Read More] Here’s Why These 2 Marijuana Stocks Should Be On Your August Watchlist

In essence, making a profit in the cannabis market means starting a position in top cannabis stocks at the best entry price. During August these leading cannabis companies are delivering for shareholders. In the US these companies are becoming some of the largest cannabis companies in the world. As the American cannabis industry continues to grow these could be some of the best marijuana stocks to buy in August?

Top Marijuana Stocks To Watch In August

  1. Ayr Wellness Inc. (OTC:AYRWF)
  2. Verano Holdings Corp. (OTC:VRNOF)

Ayr Wellness Inc.

Ayr Wellness Inc. has become the fourth largest cannabis company in the Florida cannabis market. Specifically, the company has been expanding its presence through acquisitions in other key markets across the US. Ayr has 38 operating dispensaries in Florida and a total of 52 stores nationwide. In July, the company entered the Illinois market with the acquisition of Herbal Remedies Dispensaries, LLC. In the company’s first-quarter 2021 financials AYR saw revenue of $58.4 million up 74% year over year. Also, for Q2 2021 Ayr provided a revenue guidance estimate of $90 million up 218% year over year. The company reiterated its guidance for 2022 with revenue of approximately $725 million.

In July, Ayr received a provisional license to sell adult-use cannabis at greater Boston dispensaries in Massachusetts. Ayr has also agreed to acquire Tahoe Hydro an award-winning cultivator and high-quality cannabis flower produce in Nevada. On August 9th Ayr Wellness Partner Land of Lincoln was awarded a retail dispensary license in Illinois through the state’s lottery process. The company is expected to release second-quarter 2021 financials on Tuesday, August 17th before the open.AYR pot stock

At the present time, AYRWF stock is trading at $30.00 on August 10th up 23.11% year to date. The stock has a 52-week price range of $20.00-$37.50 and has gained 208.15% in its 1-year performance. According to analysts at Tip Ranks AYRWF stock has a 12-month average price target of $46.25 per share. In essence, this would represent a gain of 54.17% from its last trading price of $30.00. As one of the fastest-growing cannabis companies in the US AYRWF stock could be a top marijuana stock to invest in for 2021.

[Read More] Top Marijuana Stocks To Buy Long Term? 2 Reporting Strong Earnings This Round

Verano Holdings Corp.

Verano is a vertically integrated multi-state operator providing access to regulated cannabis products to US consumers. In particular, the company produces premium cannabis products sold under its portfolio of consumer brands. Currently, Verano has its presence in 14 U.S. States, with active operations in 11. The company has 83 operational dispensaries, and 10 cultivation and processing facilities. In the future, Verano expects to surpass 90 dispensaries in 2021. Specifically, Verano operates dispensaries under retail brands Zen Leaf™ and MÜV™ catering to both medical and adult-use markets.

Verano completed the acquisition of TerraVida and The Healing Center. As a result, this acquisition gives Verano six dispensaries in Pennsylvania. In addition, the company has a permit to build an additional three in the state. To end July the company opened a flagship Pittsburgh dispensary with a four-lane drive-through. Verano announced second-quarter 2021 financials with record revenue of $199 million an increase of 164% year over year. As a result, gross profit on an unadjusted basis was $100 million or 50% of revenue.VRNOF

Currently, VRNOF stock is trading at $15.12 on August 10th down 4.62% in the last five trading days. The stock has a 52-week price range of $13.75-$28.00 and is down 6.07% after reporting record-setting earnings.  According to an analyst at Market Beat VRNOF stock has a consensus price target of $32.67 per share. Relatively speaking, this would be an upside of 116.1% from its last trading price of $15.12. Trading near its lower values in 2021 VRNOF stock could be a top marijuana stock for your watchlist in August.

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