Best Cannabis Stocks In The US Market
To end the week the stock market is soaring to new records for most major benchmarks. In the market, this is helped some top marijuana stocks see some upside to close the week. Since February the best cannabis stocks to invest in have experienced declines in the market. This is mostly tied to the delays with federal marijuana legalization and cannabis banking reform.
Marijuanastocks.com – MarijuanaStocks
Without the Senate passing federal reform, the cannabis sector remains susceptible to issues like what occurred this week with JP Morgan. The company has decided not to offer US MSOs to investors because of federal policy. Once the government passes some form of legislation on legalization or banking, we could see some upside for the cannabis sector. In November many leading cannabis companies are expected to release earnings that could show growth in the market.
So far in 2021, many leading US cannabis companies have delivered strong financials this year. Although this has not translated into market gains it does show the companies that could have future potential for investors. At the present time, many top cannabis stocks could have potential upside from current trading levels. As pot stocks continue trading at some of the lower levels seen this year some analysts are forecasting significant upside.
Researching And Understanding The Cannabis Sector In 2021
Before investing in top marijuana stocks, it’s important to know some factors in the sector. For one the best pot stocks are known for displaying substantial market volatility in the market. This has made it difficult for long-term investors especially during this decline in 2021. Some investors use price fluctuations to produce gains using short-term trading methods. Specifically, day traders and swing traders take advantage of these price swings by trading for short-term gains.
Before investing it’s important to research a company thoroughly by looking into its earnings and press releases. In addition, studying how a stock performs in the market can help you establish the best entry points for your positions. As this week comes to a close many top marijuana stocks are showing some upward momentum for the trading day. Let’s look at 2 top cannabis stocks for your list before next week.
Best Cannabis Stocks To Watch In 2021
Agrify Corporation develops precision hardware and software grow solutions for the indoor agriculture marketplace primarily in the United States. Specifically, the company provides vertical farming units, integrated grow racks, and LED grow lights. To highlight, Agrify’s highly advanced and proprietary hardware and software solutions help its customers achieve the highest quality, consistency, and yield, all at the lowest possible cost. The company provides associated services comprising consulting, engineering, and construction. In October the company made the acquisition of Precision Extraction Solutions and Cascade Sciences two leading providers of equipment and solutions for extraction, post-processing, and testing for the cannabis and hemp industry. On October 28th the company announced its entry into the Arizona cannabis market through a partnership with Olive El Mirage.
In Q2 2021 Agrify reported revenue up 203% year over year to $11.8 million. In the second quarter, the company established new bookings that totaled $30.7 million the highest quarterly bookings to date. Specifically, Agrify announced the first total turnkey solution partnership with Bud & Mary’s Cultivation, Inc. to install up to 1200 vertical farming units at its 50,000 SQ FT facility. Also, the company has also established a multi-year research and development partnership with Curaleaf Holdings, Inc. (OTC: CURLF). In detail, this research will study the impact of the cultivation environment on plant health and harvest yield. The company reaffirmed its full-year 2021 guidance of $48-$50 million.
AGFY stock is trading at $19.98 on November 5th up 19.50% in the last five trading days. The stock has a price range of $6.81-$35.94 and is up 103.40% in the past six months. According to analysts at CNN Business AGFY stock has a 12-month median price target of $32.00 per share. In this case, this would be an increase of 60.40%% from its current trading level.
Glass House Brands Inc.
Glass House Brands Inc. is one of the fastest-growing, vertically integrated cannabis and hemp companies in the U.S. At the present time, the company is focusing on the California market and building leading, lasting brands to serve consumers across all segments. In detail, this is through its portfolio of brands, which includes Glass House Farms, Forbidden Flowers, and Mama Sue Wellness. In September the company completed a 5.5 million-square-foot Southern California greenhouse facility acquisition. The company also appointed Mark Vendetti as Chief Financial Officer.
In August Glass House reported its second-quarter 2021 results with net sales of $18.7 million an increase of 62% year over year. As a result, the company delivered gross profits of $8.7 million an increase of 56% from the previous year. As it stands, the company had a gross margin of 46% in Q2 2021. In addition, the company had an adjusted EBITDA of $2.2 million a 100% increase from Q2 2020. Glass House will release its third-quarter 2021 financials on November 11th after the market closes. GLASF stock is trading at $4.95 on November 5th and has a price range of $4.20-$6.00.