The Best Marijuana Stocks for a Long Term Investment? 3 ancillary cannabis companies for your list right now

Investing in the best potted US stocks in 2021

Looking for the best stocks of marijuana to buy before October? Last week, the cannabis sector and markets as a whole experienced some market volatility and fell back in the first half of the week. But with an announcement from Congress that the SAFE Banking Act passed the House the best cannabis stocks to invest in rallied to end the week. With many analysts predicting the market may continue to show bullish momentum in the fourth quarter, it might be time to find the best stocks in the pot before October.

Cannabis companies in the United States are performing well, generating strong revenue growth and expanding across the country. Unfortunately for investors, this did not translate into market gains in 2021. Over the past seven months, the cannabis sector has seen significant declines in the market. This is in part because the federal government did not change the cannabis ban as intended.

But now, with the possibility of a fourth quarter marijuana banking reform, more investors are turning to major cannabis stocks. In addition to the SAFE Banking Act, the House will also vote on the MORE Act next week. In 2021, this was the catalyst for which the cannabis industry rallied earlier in the year. Now, with another chance to see federal marijuana legalization and reform, we might see some benefits for the best marijuana stocks to invest in.

Now is the time to invest in the cannabis industry for the long term?

As we head into October, the cannabis sector has seen an uptrend in the market. In general, many pot stocks were at their lowest prices in September. This could mean a further rise if all of the markets continue this recent uptrend. For investors, it is always important to research a company before taking a position. Examining a company’s financial data and studying how the stock is performing in the market can help you achieve the best returns. As we close September with things improving, let’s take a look at the top 3 marijuana stocks for your list in October.

[Read More] 3 marijuana stocks to watch for this coming week

The best marijuana stocks to watch out for before next week

  1. Innovative Industrial Properties, Inc. (NYSE: IIPR)
  2. The Scotts Miracle-Gro Company (NYSE: SMG)
  3. GrowGeneration Corp. (NASDAQ: GRWG)

Innovative Industrial Properties, Inc.

First on the list is Innovative Industrial Properties, Inc., a real estate investment trust focused on the licensed cannabis market in the United States. Primarily, the company has a total of approximately 6.8 million rentable square feet and 2.4 million square feet in development. Specifically, these properties are 100% leased with a weighted average remaining lease term of approximately 16.7 years. In detail, the company owns 75 properties in 19 states. IIP continues to make acquisitions, including properties in Pennsylvania and Massachusetts, significantly expanding its lease portfolio in 2021. Immediately after the purchase, IIP will enter into a long-term triple net lease with the cannabis company using the property. The company has invested approximately $ 1.3 billion across its entire portfolio and has committed an additional $ 385.3 million for the completion of construction and leasehold improvements at the IIP properties.

September 20e the company acquired a property in Missouri and entered into a long-term lease. In its latest financial statements, IIP released its second quarter 2021 financial statements with 101% growth in total revenue based on year-over-year performance. In detail, the company generated total revenue of $ 48.9 million. IIP paid its 2021 second quarter dividend of $ 1.40 per share on July 15e a 32% increase over the previous year. In particular, this represents an increase of 6% compared to the dividend for the first quarter. IIP has 21% debt of total gross assets, with total gross assets of approximately $ 2.1 billion. As a result, the company generated total revenue of approximately $ 91.8 million for the first six months of 2021.

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The Scotts Miracle-Gro Company

Scotts Miracle-Gro is one of the world’s largest distributors of branded lawn and garden products and has a presence in the cannabis market. Specifically, the company’s wholly owned subsidiary, Hawthorne Gardening, is a leading supplier of nutrients, lighting and hydroponic equipment used in the cannabis cultivation process. In September, Scott’s appointed Cory Miller as Executive Vice President and Chief Financial Officer.smg stock

In August, the company announced its 3rd quarterly financial statements and reaffirmed sales and earnings guidance for fiscal 2021. To highlight, the company reported business third-quarter sales up 8% to $ 1.61 billion thanks to the growth of 48% of Hawthorne. Notably, Hawthorne’s sales increased to $ 421.9 million from $ 285.7 million. Scott’s US consumer sales fell 4% in the third quarter, but remained 19% higher year-to-date. As a result, Scott’s saw company-wide sales increase to $ 4.19 billion, up 29% for the first 9 months of fiscal 2021. In the third quarter, Scott’s acquired Hydrologic Purification Systems in California and a supplier of water filtration and purification products to the cannabis market. SMG stock fell significantly in September, giving investors a lower entry point.

[Read More] Best marijuana penny stocks for your list before October

GrowGeneration Corp

Last on the list is GrowGeneration Corp., one of the largest hydroponic and organic gardening retail store owners and operators in the United States. Primarily, the company markets and distributes organic, lighting and hydroponic equipment primarily used by cannabis growers. Currently, GrowGen has 60 organic garden centers in 12 states that recently opened their 6th store in Michigan. In August, the company acquired Commercial Grow Supply to strengthen its presence in Southern California. Additionally, the company has also been working on its online presence with the launch of GrowGeneration.com. Recently, the company launched a newly redesigned e-commerce platform. The site is a one-stop e-commerce destination with over 10,000 products ranging from nutrients to lighting technology. Over the next five years, the company expects to have more than 100 operational sites in the United States.GRWG

GrowGen released second quarter 2021 financial results with record revenue of $ 125.9 million, up 190% year-over-year. Notably, the company posted net income of $ 6.7 million and adjusted EBITDA of $ 14.5 million. In addition, the company raised its revenue forecast in 2021 to $ 455 – 475 million. As a result, the company experienced a 60% increase in same store sales over the previous year. Although GrowGen generated strong revenue growth, GRWG stock had the largest sale of all marijuana ancillary stocks. GRWG stock will start the week near its lowest price in 2021 at $ 25.79 per share.

The post The best marijuana stocks for a long term investment? 3 Ancillary Cannabis Companies For Your List Right Now Appeared First On Marijuana Stocks | Cannabis investments and news. Roots of a budding industry. (TM).

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