US Marijuana Stocks To Buy Right Now? 2 To Watch For Gains With New Banking Legislation
Could These Pot Stocks See Some Upside In Q4 2021?
Top Cannabis Stocks In September 2021
Are you looking for new ways to invest in top marijuana stocks? Yesterday we saw a change in momentum for most top cannabis stocks in the market. This is partly due to an announcement about a change in cannabis banking provisions that would benefit the industry. Yesterday lawmakers introduced banking-related policies for legal cannabis businesses amended to defense legislation. Almost instantly after the announcement, top pot stocks began moving higher. So, now the question is, will this rally be short-lived in the market?
In 2021 the cannabis sector has only responded in a positive manner with news of federal cannabis reform. Banking reform is extremely important for the growth of the cannabis market in the US and intensifies the rate of growth in the industry. Since February the best marijuana stocks to invest in have seen significant declines in value. In the meantime, they have been reporting strong revenue growth and expanding rapidly across the US.
As things begin to progress on Capitol Hill, we could see some upward momentum for the best marijuana stocks in 2021. With the cannabis sector being beaten down for the past several month’s investors may be able to find pot stocks at much lower price points. In 2021 there are also some new cannabis companies that have entered the market. For investors finding these stocks before they make a move higher could be a good way to produce gains in the market.
Investing In Pot Stocks In Q4 2021
Before investing traders should always do their research into a company. Looking into a company’s finances and how the stock performs in the market can help you establish the best returns on your investments. In September we have seen the cannabis sector reach the lowest trading levels so far in 2021. Generally starting position from these lower price points could produce some upside for the short- and long-term investor.
As we start to close another week in September, we can see how the news of cannabis banking reform will impact the sector. Yesterday we saw some top-tier MSOs start showing some upside in trading. For investors, this could be a good time to start a watchlist of the best cannabis stocks right now. Let’s look at 2 top marijuana stocks for your list in September.
Top Marijuana Stocks To Watch Right Now
NewLake Capital Partners, Inc.
NewLake Capital Partners is a leading provider of real estate capital to state-licensed cannabis operators making its debut in the market in August. Founded in 2019, it is a triple-net lease REIT that acquires industrial and retail properties through sale-leaseback transactions, third-party purchases, and build-to-suit projects. Currently, its tenants are some of the leading operators in the U.S. state-licensed cannabis industry and it is a trusted partner for their real estate needs. In August the company closed its IPO offering of 3.91 million shares of common stock at a price of $26.00 per share. On September 10th the company reported its second-quarter and first half of 2021 financial results for investors. In Q2 NewLake is reporting revenue of $6.7 million up from $2.1 million year over year. In addition, the company declared a dividend of $0.12 per share for shareholders on record from August 11th.
Primarily the company will use the net proceeds to acquire the company’s target assets. At the present time, NewLake Capital has more than $325 million in assets, more than $110 million in cash, and a portfolio of 27 properties in 10 states. Specifically, the company is comprised of 17 dispensaries and 10 cultivation facilities. Currently NewLake Capital has tenants that include Curaleaf Holdings, Inc. (OTC: CURLF), Cresco Labs Inc. (CRLBF), Trulieve Cannabis Corp. (OTC: TCNNF), and Columbia Care Inc. (CCHWF).
NLCP Stock Performance
NLCP stock closed on September 15th at $29.05 down 4.5% in the last five trading days. In the few months in the market, the stock has a price range of $27.50-$32.00. According to analysts at Wallet investor NLCP stock has a 1-year price forecast of $42.80 per share. In essence, this would represent an increase of 45.08% from its last trading price. To highlight, NLCP stock could be a top cannabis stock to invest in for 2021.
TPCO Holding Corp.
Next on the list is, TPCO Holding Corp. one of the largest cannabis operators in California. Primarily, the company is composed of direct-to-consumer platform Caliva and hemp manufacturer Left Coast Ventures. TPCO also has involved icon and entrepreneur Shawn Jay-Z Carter. Specifically, Carter is the Chief Visionary Officer and brand strategist for TPCO. Roc Nation is involved in the partnership providing artists, athletes, and influencers to establish brands. In August the company introduced Troy Datcher as the Company’s new Chief Executive Officer. Notably, Datcher’s appointment represents the first time a Black CEO will lead a major public U.S. cannabis organization.
TPCO also provided its second quarter 2021 earnings with net sales of $54.2 million. In general, this revenue is comprised of $11.9 million in direct-to-consumer revenue and $42.3 million in wholesale revenue. As a result, the company delivered, gross profit for Q2 2021 of $8.1 million or 15% of net sales. In 2021 the company launched Shawn “JAY-Z” Carter’s MONOGRAM a high-end premium cannabis product with reimages of iconic photos of American photographer Slim Aarons. Also, TPCO has three streamlined facilities producing 8 core brands with a focus on higher-margin product offerings. The company made its first inaugural investments in Black and women-led businesses. To close August TPCO expanded its product portfolio with the launch of well by Caliva lotions and tinctures.
GRAMF Stock Performance
GRAMF stock closed on September 15th at $3.35 down 12.76% in the past month. The stock has a 52-week price range of $3.25-$13.962 and is down 66.90% year to date. According to analysts at Tip Ranks GRAMF stock has a 12-month average price target of $7.25 per share. In this case, this would be a gain of 116.42% from its last trading price of $3.35. At the present time, with the cannabis sector showing some improvement in the market GRAMF stock could be a top pot stock for your list right now.
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