Cannabis stocks have had a roller coaster ride over the last year. The sector saw a rerating after Joe Biden’s election as the US president. The rally continued in 2021 as Democrats took control of the Senate.
However, cannabis stocks have fallen sharply from their 2021 highs. The long-term outlook for the sector looks positive though amid hopes that marijuana would eventually be legalized at the federal level in the US. Other countries are also expected to take a favorable approach to marijuana legalization. Here are the five best cannabis stocks that you can buy in September 2021.
Tilray (NYSE: TLRY)
Earlier this year, Tilray and Aphria merged to create a cannabis powerhouse. The combined entity would have geographically diversified operations and has strong exposure to Europe. Also, the merged entity has operations spread across medical and adult-use marijuana. The company is expected to realize massive synergies after the merger. Given its strong globally diversified portfolio, TLRY looks among the best cannabis stocks to buy in September.
Analysts are also bullish on TLRY stock
Analysts see a massive upside in TLRY stock and its median target price of $17 is a premium of