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Top Marijuana Stocks To Watch For Next Week’s List

Stocks That Could Rebound In The Cannabis Sector

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This story originally appeared on MarijuanaStocks

Cannabis Stocks And Market Declines Right Now

Currently, top marijuana stocks continue to decline in the market to close out the third week in August. After reaching new highs in the first quarter of 2021 most cannabis stocks to invest in have continued to drop in value and are now trading lower than when they entered the year. For the most part, investors seem to have given up on federal cannabis reform in 2021.

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Unfortunately for them, these will be the same investors that chase cannabis stocks higher once the announcement is made. As the market value for the cannabis sector continues to fall new investors may have the opportunity to invest in the cannabis market at much lower price points. This could give them a much better chance at making gains in their positions. In 2021 leading cannabis companies have experienced strong revenue growth as the cannabis industry grows on a state level.

This has not done anything for top pot stocks in the market. Instead, most top marijuana stocks continue to shed value as the year progresses. One event that would change how the cannabis sector trades is changes in federal cannabis legislation. So far in 2021, we have not seen any of the previous legislation that passed in the House get any mention. As we continue to wait for Chuck Schumer’s bill to be formally introduced the stall could only be because of lack of support.

Stock Market Concerns In August 2021

With so much uncertainty and instability in the stock market heading into the weekend, it’s hard to tell how the cannabis sector will perform next week.  Making a watchlist and studying a pot stock’s trading patterns can help you find the best entry point for your investment. Also researching a company’s financials and revenue growth can help you pick the top-performing companies in the industry.

[Read More] Best Marijuana Stocks To Buy In August? 2 To Watch Right Now For Your List Next Week

Historically September is one of the worst months in the market. It would be interesting if things in the cannabis sector could see a turnaround. In 2020 the cannabis sector began its rally after the November election and continued higher until February 10th. Now in 2021 the question is will top marijuana stocks rally in the fourth quarter? With this in mind, let’s look at 2 top marijuana stocks for your list going into the weekend.

Marijuana Stocks To Watch Over The Weekend

  1. Ascend Wellness Holdings, Inc. (OTC: AAWH)
  2. Harborside Inc. (OTC: HBORF)

Ascend Wellness Holdings, Inc. is a vertically integrated operator with assets in Illinois, Michigan, Ohio, Massachusetts, and New Jersey. AWH owns and operates state-of-the-art cultivation facilities, growing award-winning strains and producing a curated selection of products. AWH produces and distributes Ozone branded products. The company focuses on limited license states east of the Rockies, with flagship locations in desirable retail corridors serving key medical and adult-use markets.

On August 10th AWH announced its Q2 2021 financials with net revenue of $83.4 million. This is an increase of 26.1% sequentially, and total revenue of $97.5 million up 236.2% year over year. AWH sustained a net loss of $44.9 million during Q2 2021 primarily from a $32 million expense related to its IPO in May 2021. The company increased its full-year 2021 net revenue guidance range to $330-$350 million.

AAWH stock is trading at $10.47 on August 20th down 4.67% in the last five days. The stock has a 52-week price range of $9.31-$15.81 and started trading on July 14, 2021. According to analysts at CNN Business has given AAWH stock a 12-month median price target of $15.75 per share. Currently, this would be a 54.41% upside from its trading price of $10.47.

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Harborside Inc.

An American cannabis veteran Harborside Inc. is one of the first California cannabis retailers to begin doing business in 2006. One of the first companies awarded six licenses granted in the United States Harborside is a pioneer in the industry. Harborside has six dispensaries focused on California and Oregon. In its first-quarter 2021 earnings, the company delivered gross revenue of $13 million. In addition, Q1 2021 Adjusted EBITDA grew to $1 million from $0.3 million the prior year. Harborside reaffirmed its full-year 2021 guidance of gross revenue of between $68-$72 million.

As it stands Harborside was recognized for having exceptional curbside pickup and delivery service by readers in East Bay Express’s “Best of the East Bay 2021.” In March Harborside completed a $5 million strategic investment in LPF JV, LLC or Loudpack. In detail, Loudpack is a premier California cannabis company with a strong portfolio and presence in California. In July Harborside completed the acquisition of Sublime a California award-winning infused pre-roll brand. On July 19th the company announced management changes and has appointed Matt Hawkins as interim CEO and Ahmer Iqbal has been appointed Chief Operating Officer.Harborside

HBORF stock is trading at $0.85 down 26.85% in the last month. The stock has a 52-week range of $0.65-$2.54 and is down 42.69% year to date. According to analysts at Wallet Investor HBORF stock has a 1-year price forecast of $1.01 per share. Harborside has maintained a smaller presence in the cannabis industry for a long time. In the next few years, you may see more expansion for the company in the cannabis market.

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