4 Top Cannabis Stocks To Check Out Right Now

Cannabis stocks, in general, have and continue to turn heads in the stock market lately. The current hype around the industry is thanks to several key factors now. On one hand, you have the coronavirus pandemic resulting in consumers staying home more often. When you couple this with a rise in anxiety and stress amid pandemic conditions, the rise in demand for medical cannabis makes sense. On the other hand, people continue to turn to cannabis as a means of leisure as well. With the overall momentum for legalization at the federal level, some investors would be eager to bet on some of the top cannabis stocks in the market now.

After considering all of these factors, would now be a good time to jump on the best cannabis stocks? Well, if anything, the market is already expanding even before achieving nationwide legalization. For example, the state of Ohio is reportedly looking to double its total dispensaries. Elsewhere, industry leaders such as Tilray (NASDAQ: TLRY) and Curaleaf (OTCMKTS: CURLF) are growing their U.S. operations as well. With all this activity in the space now, could one of these top cannabis names in the stock market today be worth investing in?

Top Cannabis Stocks To Buy [Or Sell] This Month

Aurora Cannabis Inc.

First up on our list of cannabis stocks, we have Aurora Cannabis, a Canadian-owned licensed producer of medical and consumer cannabis. It has sales and operations in more than 20 countries worldwide. The company is a leading integrated cannabis company with a robust network of subsidiaries and strategic partnerships. Boasting state-of-the-art production facilities, the company continues to be one of the fastest-growing cannabis companies in the world. ACB stock currently trades at $6.54 as of 10:19 a.m. ET. The company will be reporting its fourth quarter and full fiscal year 2021 financials next week on September 22, 2021.

best marijuana stocks to buy (ACB stock)

Last month, the company announced that it had successfully delivered its initial shipment of cannabis to the French medical cannabis pilot program to serve patients in France. Aurora and Ethypharm were selected by the National Agency for the Safety of Medicines and Health Products to supply the entire medical cannabis-dried flower range to French patients during the pilot program.

The company says that this first prescription is a significant step toward providing access to patients and will support the destigmatization of medical cannabis in France. If successful, this pilot program could lead to one of the largest regulated medical cannabis markets in Europe. Given this exciting piece of news, will you consider investing in ACB stock right now?

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GrowGeneration Corp

Next, we will look at GrowGeneration, one of the largest hydroponics suppliers in the country with 60 retail and distribution centers. It is a pick-and-shovel play company for the cannabis industry that sells thousands of products. Namely, this would include organic nutrients and soils, advanced lighting technology, and state-of-the-art hydroponics equipment that is used by both commercial and home growers.

top cannabis stocks (GRWG Stock)

Also, it has strategic partnerships with some of the biggest brand names in the industry and offers a direct-to-farm delivery service along with equipment financing. GRWG stock currently trades at $27.27 as of 10:20 a.m. ET.

On Wednesday, the company announced that it has opened 2 new hydroponic garden centers to serve the largest hydroponic market in the country, Los Angeles County, California. It will become the company’s 11th and 12th locations in Southern California and will begin operations on September 24, 2021. In August, the company also announced that it had acquired Commercial Grow Supply, a hydroponic superstore located in California. All things considered, should you add GRWG stock to your portfolio of cannabis stocks right now?

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High Tide Inc.

High Tide is a cannabis company whose portfolio includes a dominant Canadian cannabis retail chain, a global manufacturer, and distributor of cutting-edge consumption accessories. It also boasts an impressive e-commerce platform for cannabis accessories, with almost 100 million site visits in 2020 alone. HITI stock currently trades at $6.32 as of 10:21 a.m. ET and has more than doubled in valuation year-to-date.

HITI stock

Today, the company announced its Canna Cabana retail cannabis store in Ontario, Canada has begun selling recreational cannabis products for the adult user. This opening will represent High Tide’s 95th branded retail location across Canada, selling recreational cannabis products and consumption accessories. On September 14, 2021, the company reported its third-quarter financials.

Impressively, its revenue was $48.1 million, almost doubling compared to a year ago. Its Cabana Club membership has grown by 45% to over 200,000 members. It also reported its sixth consecutive quarter of positive adjusted EBITDA. For these reasons, should you be excited about owning HITI stock?

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Innovative Industrial Properties

Another name to consider in the U.S. cannabis market today would be Innovative Industrial Properties or IIPR for short. Now, for starters, the company is not your usual play on the cannabis industry. Namely, IIPR is a real estate investment trust (REIT). As a REIT, the company primarily focuses on acquiring and leasing medical-use cannabis facilities. Notably, this positions IIPR to benefit from the current momentum across the board in the marijuana industry. On top of that, the company does not have to deal with the risks and extensive costs required to cultivate marijuana.

best cannabis stocks to buy now (IIPR stock)

Because of this, investors looking to make less direct plays on the weed industry now could be eyeing IIPR stock. As it stands, IIPR stock is now trading at $235.74 as of 10:21 a.m. ET. This is after gaining by over 30% year-to-date. Despite all of this, the company continues to make plays catering to investors.

Earlier this week, IIPR declared a dividend of $1.50 per share, marking a 28% year-over-year increase. Moreover, the company also posted stellar results in its latest fiscal quarter report. In it, IIPR saw year-over-year surges of 100% in total revenue and 120% in net income. All in all, would IIPR stock be a top buy for you now?

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