The best cannabis stocks to invest in right now? 2 for your list for September 2021
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August 27, 2021
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This story originally appeared on MarijuanaStocks
Best stocks of marijuana in 2021
Are you looking for ways to invest in the best marijuana stocks in September? The best cannabis stocks to invest in are currently trading at lower prices. After six months of decline, many cannabis stocks are trading near the lowest market values ââthey saw in 2021. One area of ââthe cannabis industry that saw gains in the first quarter of 2021 is penny stocks. marijuana.
Known for the significant volatility of the market, penny stocks are considered high risk investments. Due to the nature of these investments, many traders prefer to use short term methods like day trading and swing trading for cannabis penny stocks. Other sectors of the cannabis market could also be positioned to rebound in the market. Initially, in the first quarter of 2021, Canadian cannabis stocks climbed in value until almost mid-February.
Since that time, most have suffered substantial impairment losses. For these levels, those marijuana stocks could produce a significant rise in the future. In Canada, the major cannabis companies continue to improve their balance sheets. Although they have failed to outperform US cannabis companies, they continue to show recent earnings growth. As the cannabis industry grows rapidly, the best positioned companies will gain market share.
Understanding the Cannabis Market and Potting Stocks in 2021
Before investing in potted stocks in September, there are a few important factors to consider. For one, the best cannabis stocks to invest in right now are known for high market volatility. Due to this volatility, many investors prefer to trade these cannabis stocks for the short term. As the cannabis industry begins to recoup some of the losses it has suffered in recent months, there could be a significant uptick for investors.
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Researching a company’s profits and studying how the stock is performing in the market can help you make the most money. One of the main catalysts that could drive up momentum in the cannabis industry is the US federal legalization of marijuana. Making a list of the best marijuana stocks to invest in can help you narrow down the best investments for your trading style. As we head into the weekend, let’s take a look at the top 2 marijuana stocks for your list before September.
Best cannabis stocks to watch before September
- Cronos Group Inc. (NASDAQ: CRON)
- Goodness Growth Holdings, Inc. (OTC: GDNSF)
Cronos Group Inc.
A Canadian Market Leader Cronos Group Inc. is a global cannabinoid company with international production and distribution on five continents around the world. Cronos has created a portfolio of cannabis brands that are successful with Canadian cannabis consumers. Recently, Cronos announced that it bought options to acquire a 10.5% stake in PharmaCann for $ 110.4 million. The deal will be executed under various factors, including the status of federal cannabis legalization in the United States. Specifically, the deal would involve PharmaCann’s six production facilities and 23 dispensaries.
In July, the company launched a line of new dual flavor cannabis gummies. These new gummies are said to have unmatched taste for adult consumers. August 6e Cronos released its second quarter 2021 results with net revenue of $ 15.6 million, up $ 5.7 million year-over-year. The Company incurred a gross loss of $ 15.8 million and an adjusted EBITDA loss of $ 49.8 million. Cronos now offers products on ULTA.com and is expected to be available at ULTA Beauty stores across the United States.
CRON stock trades at $ 6.49 on August 27e up 4.06% in the last five days. The stock has a 52-week price range of $ 4.91 to $ 15.83 and is down 7.64% year-to-date. According to CNN Business analysts, CRON stock has a 12-month median price target of $ 7.08 per share. Essentially, that would represent a 9.15% rise from its current trading price of $ 6.49. In September, CRON stock could be one of the best cannabis stocks to invest in in the Canadian sector.
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Goodness Growth Holdings, Inc.
Primarily, Goodness Growth Holdings, Inc. is focused on bringing technology, science and engineering to the cannabis market. Currently, Goodness Growth has announced that its subsidiary Resurgent Biosciences is considering expanding into clinical research efforts in psychedelic medicine. Currently, the company has 17 retail dispensaries across the United States. The company generated gross profit margins of $ 5.6 million, up 42.6% year-over-year. Recently, Goodness Growth closed the purchase of 4 cannabis licenses in Nevada before changing its name.
These licenses will allow Goodness to cultivate and produce cannabis products for the medical and recreational markets in Nevada. In addition, Goodness announced the agreement to acquire Charm City Medicus Dispensary in Maryland. This transaction will enhance the size of the business in the Maryland medical cannabis market and expand its retail presence in the state. In August, Goodness released its financial results for the second quarter of 2021 with GAAP revenue of $ 14.2 million, a 16% year-over-year increase. As a result, the company established a record GAAP gross profit margin of 49%, reflecting improved efficiency in its operations.
GDNSF stock trades at $ 1.42 on August 27e down 14.46% last month. The stock has a 52-week price target of $ 0.60 to $ 3.84 and is down 4.02% year-to-date. According to a Tip Ranks analyst, GDNSF stock has a moderate buy rating with a consensus average price target of $ 3.54 per share. With its hands on the cannabis market as well as psychedelic medicine, GDNSF’s stock could be one of the best marijuana penny stocks to invest in right now.
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