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Top Marijuana Stocks For Your List While Cannabis Stocks Are Down

Are These Top Marijuana Stocks On Your List In August?

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This story originally appeared on MarijuanaStocks

The Best Cannabis Stocks In August 2021 And Cannabis Legalization

After the Fed discussed slowing the purchases of bonds top marijuana stocks gave back most of the gains for yesterday. In August the best cannabis stocks to invest in are trading at their lowest levels in 2021. With all the major indexes showing declines top pot stocks still could have further declines to close the week. In August US cannabis companies are reporting strong earnings but continue to see market declines. Now the question is will cannabis stocks continue to pull back in August?

Marijuanastocks.com - MarijuanaStocks

After several months of market declines, the cannabis sector seems to be waiting for some action from Congress and federal cannabis reform to change directions. In general, the Senate has several legislations which could give the cannabis industry the ability to improve in 2021.  For example, The SAFE Banking Act, or the MORE Act which has a passing vote in the House.

But Schumer’s all-or-nothing approach to legalization with the draft of the Cannabis Administration and Opportunity Act could prolong this process until they gain enough support from both political parties.  Now with the Covid-19 Delta variant becoming one of the biggest concerns for the federal government, it could be sometime before the focus returns to cannabis.  In the meantime, US cannabis companies are performing very well despite the circumstances. Most are delivering strong earnings and growing at a rapid rate across the United States.

Ancillary Marijuana Stocks And The Cannabis Sector

Ancillary cannabis companies are also showing signs of growth as the demand for marijuana increases. With more orders being done online for pick-ups and deliveries the cannabis market is growing in the e-commerce realm as well. The cannabis industry could be one of the fastest-growing markets for the next five years.

Currently finding the best marijuana stocks for your watchlist could produce significant gains for investors. As the market continues to decline lower stock prices for some top pot stocks could continue. Before investing in cannabis stocks there are a few important factors to consider. For one marijuana stocks are known for market volatility. This is something to consider before starting a position in the sector.

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Doing your own research and studying how a stock performs in the market can help you make the best investment decisions. Heading into September, historically known as one of the worst months for stocks cannabis investors are keeping a close eye on the market. As we head into the end of the trading week let’s take a closer look at 2 top marijuana stocks for your list right now.

Best Marijuana Stocks To Watch In August

  1. Curaleaf Holdings, Inc. (OTC: CURLF)
  2. WM Technology, Inc. (NASDAQ: MAPS)

Curaleaf Holdings, Inc.

Curaleaf Holdings, Inc. provides packaged cannabis products and operates 108 retail locations across the US. In addition, the company has also begun expanding with Curaleaf International advancing the accessibility of medical cannabis products in Germany through its wholly-owned subsidiary Adven GmbH. Curaleaf announced a recent strategic partnership between Curaleaf’s Select Brand and music and culture authority Rolling Stone. In a new product launch, the two companies are expected to introduce a new line of co-branded Rolling Stone by Select products.  Recently, the company also launched B Noble Brand. A partnership between Curaleaf, Bernard Noble, and Fab Five Freddy to bring awareness of the need to reform cannabis laws.

On August 9th Curaleaf reported record second-quarter 2021 results with revenue of $312 million. Its second-quarter revenue is up 20% from Q1 2021 and 166% year over year. The company reported second quarter 2021 adjusted EBITDA of $84 million up 201% year over year. Additionally, gross margins reached about 50% driven by higher yields at existing facilities. During Q2 the company opened another five dispensaries and continues to expand its footprint in the third quarter.CURLF Stock

CURLF stock closed on August 18th at $11.34 and has declined 7.13% in the past five days. The stock has a 52-week price range of $5.81-$18.38 up 28.17% year to date. According to analysts at Tip Ranks CURLF stock gas a 12-month average price target of $22.76 per share. In essence, this would represent an upside of 100.71% from its last trading price of $11.34. As the cannabis sector continues to pull back CURLF stock could be one of the best cannabis stocks for your list right now.

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WM Technology, Inc.

At the present time, WM Technology, Inc.’s mission is to power a transparent and inclusive global cannabis economy. In its second decade, WM Technology could be considered a driving force behind much of the legislative change in the cannabis industry in the past 10 years. Weedmaps is an online listing marketplace for cannabis consumers and cannabis companies. Primarily, the cloud-based SaaS solutions from WM Business provide an operating system for cannabis retailers. WM Business’ tools support compliance with the complex, and constantly evolving regulations in the cannabis industry. The companies SAAS platform and has given revenue guidance for 2021 of $205 million.

Currently, Weedmaps has an estimated 10 million monthly active users and approximately 18,000 business listings in the U.S. On August 12th the company reported its second quarter 2021 financials and 2021 outlook. In detail, the company delivered second quarter revenue of $47 million. In addition, total revenue grew 21% year over year with US revenue up 55% from the previous year. The company reaffirmed prior full-year 2021 revenue of $205 million and adjusted EBITDA guidance of $50 million.

MAPS stock closed on August 18th at $13.59 down 6.15% in the past five days. The stock has a 52-week price range of $9.99-$29.50 and is up 6.42% year to date. According to analysts at Market Beat MAPS stock has a consensus price target of $21.00 per share. Currently, this would represent a gain of 54.5% from its last trading price. For this reason MAPS stock could be a top marijuana stock to add to your list in August.

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