As marijuana stocks continue to deal with another drop in the sector shareholders are preparing for the future. Meaning that with the eventual passing of federal reform another chance to level up has occurred. What this means is with the sector down again one can find top marijuana stocks to buy. Looking back from this time last year in 2020 the sector had more consistency. Meaning that when cannabis stocks would dip it was for only a short. As well once that stock would recover it would either be at the same level prior or higher.
Either way, another chance to capitalize on this dip in trading is here. So as mentioned above many are buying cannabis stocks in preparation for what’s next to come. A good amount of investors feel a solid run is in the works. This run that is being talked about may come from when federal reform is finally made law. As history has shown when news comes out in regards to the reform it has resonated well for pot stocks.
Still, this is not set in stone but as previously stated history has shown more upside in the sector. Now for those who are looking to get invested in legal cannabis, there is no better time than the present. Especially with how low some of the marijuana stocks are trading. Getting in a good entry point is crucial when buying and selling stock.
The name of the game for any investment stocks included is to buy low and sell high. Although easier said than done for a sector that performs with more volatility than other sectors. Nevertheless, the cannabis industry is still growing and companies are yielding more success. As well the more progress and profitability a company has the more likely someone will add it to their portfolio. Just make sure to do your homework on each potential cannabis stock you wish to buy. The marijuana stocks we will talk about could be an asset to your 2021 watchlist.
Trulieve Cannabis Corp. together with its subsidiaries operates as a medical cannabis company. The company cultivates and produces products in-house and distributes its products to Trulieve branded stores across the United States. In recent news, the company has made 2 important announcements. First Trulieve has announced the opening of a new medical marijuana dispensary in Bradenton, Florida. The Bradenton location is Trulieve’s 109th in the state and will begin serving patients at 9:00 am on Wednesday, November 24, 2021.
Following this announcement, another update was made. The company has launched TruTonic. This is now Florida’s first edible drink mix. TruTonic is created from the same cutting-edge, state-of-the-art process that created TruPowder. The product offers a fast-acting, long-lasting alternative to smoking or vaporizing cannabis. TruTonic is intended to be added to water before ingestion. And when mixed will dissolve and fizz to create a seltzer-like beverage. The nano-based formulation allows patients to feel the medication’s effects quickly while the discreet packaging and lower dose ensures patients can find relief any time of day.
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“At Trulieve, we’re dedicated to meeting and exceeding patients’ needs at every end of the cannabis experience spectrum. TruTonic delivers the reliable and rapid-onset experience many patients are looking for with a fat-free, sugar-free and low-calorie edible,” said Trulieve Chief Marketing Officer Valda Coryat. “TruTonic is a one-of-a-kind product and we’re excited to offer Florida’s patients a new way to find natural, effective relief.”
Ayr Wellness Inc. is a vertically-integrated cannabis multi-state operator, cultivates, extracts, manufactures, distributes. And retails cannabis products and branded cannabis packaged goods. The company’s cannabis and cannabis products include concentrates, edibles. As well as various vaporizer products. It also provides administrative, consulting, and operations support services to licensed cannabis companies.
In addition, Ayr Wellness Inc. operates medical retail dispensaries. In the company’s most recent update it has released its Q3 2021 earnings. During this time Ayr Wellness closed on the acquisition of Garden State Dispensary. Which added New Jersey to Ayr’s growing footprint with three open dispensaries. As well as a 24,000 sq. ft. of operational cultivation and production facilities. With an additional 75,000 sq. ft. of cultivation under development coming online with sales in Q2 2022.
Also, the company saw its revenue go up by 111% Y/Y to $96.2 Million, up 5% sequentially. Another highlight is Ayr Wellness hired over 300 new employees across all levels. This increased its bench in marketing, human resources, technology, and operations. To which professionals focused on driving scalable processes across our regional footprint.
Jonathan Sandelman, CEO of Ayr Wellness, said, “We are pleased to report another great quarter of growth at Ayr, more than doubling our revenue from last year’s third quarter and up 5% sequentially in a flat cannabis market. We have been able to maintain or grow share in competitive markets with pricing discipline because, by design, we have focused on quality and consumers continue to show a willingness to pay for quality.