Are you looking for the best marijuana stocks to watch in November 2021? With a potential catalyst, this month in the form of federal cannabis reform pot stocks has experienced an uptrend in the market. In addition to cannabis reform, many leading cannabis companies are releasing financials in November. In the event, these companies deliver strong earnings this could also provide some upside to pot stocks this month.
The US cannabis industry has experienced significant growth since the pandemic with many new states establishing new legal cannabis markets. Although the cannabis industry has been growing on the state level the delays in Congress to end prohibition have caused top cannabis stocks to decline in the market in 2021. As the marijuana market grows leading cannabis companies are positioning to gain market share.
For investors, this could be an opportunity to invest in the cannabis sector at lower price points. At the present time, there are many ways to gain exposure to the growing market. Some investors are establishing positions in some of the vertically integrated cannabis companies. But there are also many ancillary cannabis companies that could add value to your portfolio. Ancillary cannabis companies are those companies that support the cannabis industry without touching the actual cannabis plant.
For investors, it’s important to research these companies thoroughly before investing. Researching a company’s financials and studying how the stock performs in the market can help you achieve the best returns from your investments. Right now, some top marijuana stocks are giving back some of the gains established earlier in the week.
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This is partly because inflation concerns have created lower action in the market. It could be time to make a list of the best cannabis stocks to watch. For many retail investors new to the cannabis market these pot stocks could be found on new trading platforms like Robinhood Markets, Inc. (NASDAQ: HOOD), and WeBull.
At the present time, WM Technology, Inc. is considered a driving force behind much of the legislative change in the cannabis industry in the past 10 years. Primarily known as Weedmaps this online listing marketplace is a major hub for cannabis consumers and cannabis companies. In general, the cloud-based SaaS solutions from WM Business provide an operating system for cannabis retailers. In general, WM Business’ tools support compliance with the complex, and constantly evolving regulations in the cannabis industry. This year Weedmaps announced a multi-year partnership with Kevin Durant, Thirty-Five Ventures, and a sponsorship deal with Boardroom. In September the company acquired leading cannabis CRM & marketing platform Sprout.
As it stands, Weedmaps has an estimated 10 million monthly active users and approximately 18,000 business listings in the U.S. In August the company reported its second-quarter 2021 financials and 2021 outlook. Specifically, the company delivered second-quarter revenue of $47 million. As a result, total revenue grew 21% year over year with US revenue up 55% from the previous year. In addition, the company reaffirmed prior full-year 2021 revenue of $205 million and adjusted EBITDA guidance of $50 million. The company is expected to release its third-quarter 2021 results on November 11th after the market close.
MAPS stock is trading at $11.59 on November 10th up 8.59% in the past five trading days. Currently, the stock has a 52-week price range of $10.08- $29.50 and is flat year to date. According to analysts at Tip Ranks MAPS stock has a 12-month average price target of $18.75 per share. In essence, this would represent an upside of 60.36% from its current trading price.
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Village Farms International, Inc. the company and its subsidiaries, produces, markets, and distributes greenhouse-grown tomatoes, bell peppers, and cucumbers in North America. In general, the company began focusing on opportunities in the cannabis and CBD segments in Canada and the US. Specifically, Village Farms wholly-owned subsidiary Pure Sunfarms is one of the largest cannabis operations in North America. In general, this summer Pure Sunfarms received a cannabis cultivation license for a delta 2 greenhouse increasing production capacity by 50%. Earlier this year Village Farms unveiled new corporate branding and launches a new website www.villagefarms.com.
On November 9th Village Farm delivered its third-quarter 2021 results with another record quarter for Pure Sunfarms. In detail, total cannabis sales were $31.2 million with Pure Sunfarms sales reaching $27.4 million and Balanced Health Botanicals with sales of $3.8 million. Specifically, these two subsidiaries combined comprised 43% of the total Village Farms sales.
“Our strong third-quarter results were driven by another record performance from our Canadian cannabis business, Pure Sunfarms, as well as a partial quarter’s contribution from the acquisition of Balanced Health Botanicals, and improved results in our Village Farms Fresh Produce business.”
Michael DeGiglio, CEO, Village Farms.
VFF stock closed at $8.59 on November 9th down 7.24% for the trading day going into the close. Currently, the stock has a 52-week price range of $5.74-$20.32 and is up 21.05% in the past five trading days. According to analysts at CNN Business VFF stock has a 12-month median price target of $18.07 per share. In this case, this would represent an upside of 110.15% from its last trading price.
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