In the last few years, marijuana stocks have been on a tear. While some investors may be wary of investing in the sector due to the recent market turbulence, there are still opportunities for long-term gains.
The finance cat twitter is a Twitter account that tweets out the latest news about cannabis stocks. It’s an ancillary company that covers all of the top cannabis companies in the market right now.
Are you searching for the best marijuana stocks to invest in before the end of the year? During the early part of last week, the cannabis industry and broader markets saw some market turbulence and pulled down. The top cannabis companies to invest in surged to end the week after Congress announced that the SAFE Banking Act had passed in the House. With many experts expecting that the market will continue to rise in the fourth quarter, it may be wise to look for top marijuana stocks before October.
Cannabis businesses in the United States are doing well, with significant revenue growth and expansion throughout the nation. Regrettably, this has not translated into market gains in 2021 for investors. The cannabis industry has seen substantial market losses during the last seven months. This is partially due to the fact that the federal government did not make the anticipated changes to the cannabis ban.
However, with the potential of marijuana banking reform in Q4, more investors are interested in top cannabis companies. The House will vote on the MORE Act next week, in addition to the SAFE Banking Act. This was the trigger for the cannabis sector’s rally earlier in the year in 2021. With another possibility of federal marijuana legalization and reform, the best marijuana companies to invest in may see some gain.
Is Now The Right Time To Invest Long-Term In The Cannabis Industry?
As we enter October, the cannabis industry is showing signs of improvement. In September, several marijuana stocks were trading at their lowest levels. If the broader markets maintain their current rise, this may imply further upside. Before beginning a position as an investor, it is critical to do thorough research on the business. Examining a company’s financials and seeing how its stock performs in the market may assist you in achieving the greatest results. Let’s take a look at three top marijuana stocks for your October list as we finish out September with things looking good.
Before next week, keep an eye on these marijuana stocks.
- Innovative Industrial Properties, Inc. is a company that specializes in industrial properties. is a company that specializes in industrial properties (NYSE:IIPR)
- Scotts Miracle-Gro Corporation (NYSE:SMG)
- GrowGeneration Corporation (GrowGeneration) is a company thatoration is a private corporation based in the United States (NASDAQ:GRWG)
Innovative Industrial Properties, Inc.
Innovative Industrial Properties, Inc., a real estate investment trust focused on the US-licensed cannabis industry, ranks first on the list. Specifically, the business has a total of 6.8 million rentable square feet and 2.4 million square feet under construction. These properties are 100% leased, with a weighted average remaining lease period of about 16.7 years. The business has 75 properties in 19 states in total. IIP continues to make purchases, including properties in Pennsylvania and Massachusetts, which will substantially increase its lease portfolio in 2021. IIP will immediately engage into a long-term triple net lease with the cannabis business that will be utilizing the land following the acquisition. The firm has committed additional $385.3 million to the completion of construction and tenant upgrades at IIP buildings, bringing its total investment to $1.3 billion.
The business purchased a property in Missouri and signed a long-term lease on September 20th. IIP’s newest financials show a performance-driven increase of 101 percent in total revenue year over year in the second quarter of 2021. The business earned a total of $48.9 million in sales. On July 15th, IIP paid its second-quarter 2021 dividend of $1.40 per share, a 32 percent increase over the previous year. This is a 6 percent increase over the first quarter dividend. IIP has a debt-to-total-gross-assets ratio of 21%, with total gross assets of $2.1 billion. As a consequence, during the first six months of 2021, the business earned total sales of $91.8 million.
Scotts Miracle-Gro Corporation
Scotts Miracle-Gro is one of the biggest marketers of branded consumer lawn and gardening goods in the world, and also has a stake in the cannabis industry. Hawthorne Gardening, the company’s wholly-owned subsidiary, is a major provider of fertilizers, lighting, and hydroponic equipment used in the cannabis-growing process. Scott’s appointed Cory Miller as Executive Vice President and Chief Financial Officer in September.
In August, the business released its third-quarter financials and maintained its fiscal 2021 sales and profits forecast. To note, the firm reported an 8% increase in Q3 revenues to $1.61 billion, owing to Hawthorne’s 48 percent increase. Hawthorne sales, for example, rose to $421.9 million from $285.7 million. Scott’s consumer sales in the United States fell 4% in the third quarter, but are still up 19% year to date. As a consequence, Scott’s total revenues for the first nine months of fiscal 2021 increased by 29% to $4.19 billion. Scott’s purchased Hydrologic Purification Systems, a California-based accessory and supplier of water filtration and purification solutions for the cannabis industry, in the third quarter. In September, the stock of SMG fell substantially, providing investors a cheaper starting point.
GrowGeneration Corp., a major owner and operator of retail hydroponic and organic gardening shops throughout the United States, is at the bottom of the list. The business primarily sells and distributes organics, lighting, and hydroponic equipment to cannabis growers. GrowGen now has 60 organic garden centers in 12 states, with its sixth shop just opening in Michigan. Commercial Grow Supply was purchased in August by the business in order to expand its presence in southern California. With the introduction of GrowGeneration.com, the business has also been focusing on its internet presence. The business just debuted a revamped e-commerce platform. With over 10,000 items ranging from nutrition to lighting technologies, the site is a one-stop e-commerce destination. The business expects to have over 100 sites in the United States over the next five years.
GrowGen announced record sales of $125.9 million in the second quarter of 2021, up 190 percent year over year. The business earned $6.7 million in net income and $14.5 million in adjusted EBITDA. Furthermore, the firm increased its sales forecast for 2021 to $455-$475 million. As a consequence, the business saw a 60 percent rise in comparable store sales over the previous year. GRWG stock experienced the steepest selloff of all ancillary marijuana companies, despite GrowGen’s robust revenue growth. At $25.79 per share, GRWG stock will begin the week at its lowest price point in 2021.
The etoro lindzon is a marijuana stock that has been on the rise in recent times. There are 3 ancillary cannabis companies that you should be considering for your list right now.
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