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Top Cannabis Stocks for May 2021

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If you’re looking for the top cannabis stocks for May 2021, you have come to the right place. Spring is a time for new beginnings and renewal so why not get in the spirit of growth and invest in promising cannabis stocks? Here are the top pot stocks to consider.

Ayr Wellness

Among the top-ranking multi-state operators (MSOs), Ayr Wellness is one of the best buys right now. While not in penny stock territory, it is still considerably cheap (relative to its expected sales) compared to other MSO stocks. And, it has plenty of growth potential.

In fact, Ayr Wellness just opened its 50th dispensary in the country. It has plans to open 10 more retail locations by 2021. Its dispensaries can be found in Nevada, Massachusetts, and Arizona, all of which have promising adult-use markets.

In Ohio and Pennsylvania, Ayr Wellness has established itself as a major player in their medical cannabis markets. Its acquisition of Liberty Health in Florida has helped it gain steam in one of the countries fastest-growing medical cannabis markets.

In addition, Ayr Wellness expects to stake its claim in New Jersey after its pending acquisition of Garden State dispensary closes. Overall, Ayr Wellness’s expected revenue in 2022 may reach $725 million. Expect its share price to nearly double if things keep going this well.

Cresco Labs

If you want to bet big on the industry’s key players, then you should definitely consider Cresco Labs, another major MSO. Its share price is around 3.7 times its expected sales.

One of the most exciting developments in the industry is New York’s recently legal cannabis market. Cresco Labs is just one of a few companies ready to make big moves in the state. As one of 10 operators licensed for vertical operations in the state, it currently has 4 Sunnyside retail locations in New York.

In addition, Cresco Labs has propelled itself toward the front of the pack with smart acquisitions. In early 2020, its acquisition of Origin House cemented its status as a top cannabis wholesaler. In April 2021, its acquisition of Blooma Wellness closed, giving it a major advantage in the Florida medical marijuana market.

Cresco Labs also plans to buy Cultivate in Massachusetts to jump-start its entrance into the state’s market with one of its top dispensaries.

Planet 13 Holdings

Planet 13 Holdings isn’t focused on fast growth. Instead, it has created a unique dispensary experience. Its Las Vegas Strip SuperStore offers an interactive and one-of-a-kind retail experience featuring interactive displays and tons of hi-tech gadgetry to keep you in awe.

During the start of COVID-19, Planet 13’s Las Vegas SuperStore suffered a bit of a downturn understandably. As in-store retail sales slowed down, it quickly pivoted to cannabis delivery to prevent a complete downturn.

Despite its rocky road last year, in March 2021, it had its best sales ever. As the country continues to work toward herd immunity, retail sales are set to reach new heights once people start to become more confident in shopping in-store.

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In addition, Planet 13 is attempting to replicate its megastore experience in Santa Ana, California in the summer of 2021. By setting up shop in the largest cannabis market in the world, Planet 13 is hoping to take advantage of the state’s tourism market and bring a new kind of experience for cannabis users.

Auxly

Auxly Cannabis Group Inc is a promising consumer packaged goods company based in Canada. Its main focus, so far, has been on edibles and vapes, which became legal a year after cannabis flower was legalized in Canada. Most companies focused on flower products to begin.

However, Auxly’s focus on cannabis 2.0 products has paid off. At the beginning of 2021, it announced that it had a major portion of the market share in 2020 in the edibles and vapes segment in Canada.

Now, Auxly intends to move into the dried flower market to help diversify its business operations. If its flower sales look anything like its edibles and vape sales, you can expect its stock to perform exceptionally well in the near future.

In late April 2021, the company’s stock moved from the smaller TSX Venture Exchange into the nation’s main stock exchange, the TSX. Its share prices trade at seven times its revenue, a considerably better deal than other major players such as Cronos and Canopy Growth.

IM Cannabis

Beyond the U.S. and Canadian cannabis markets, there’s plenty of promise in international markets. Case in point, IM Cannabis is a small but promising cannabis investment. In March 2021, it moved into the NASDAQ.

As an Israeli-based company, it has plenty of potential for expansion in Europe and beyond. In its home country, it has plenty of room for growth now that the Justice Minister announced that a new law would permit authorized stores to sell cannabis in the near future.

In 2020, the company acquired Trichome Financial, which has helped them gain enough funding for additional acquisitions. Trichome is very experienced with mergers and acquisitions and has plans to enter the North American market.

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Clever Leaves

New York-based Clever Leaves is an underdog in the cannabis market. It has invested in North America, South America, and Europe. In South America, it has a 1.8 million square foot greenhouse in Columbia, which has helped lower its production and labor costs, as well as have a wider cultivation footprint than other major competitors in the country.

Stay Up-to-Date with Cannabis Stock Developments

As a cannabis stock investor, it is up to you to stay in the know about the latest industry developments. Since the market can be volatile and there’s still plenty of potential for growth, it is important to have a long-term approach toward cannabis stock investments.

Cannabis Training University’s marijuana industry blog can help you stay informed about the industry’s latest moves. In addition, our online marijuana training program gives you a complete understanding of every part of the industry from cultivation to retail sales and more.

Enroll in CTU today and start earning more in your pot stocks tomorrow!



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Edibles

Slow down, Minnesota! State pops edible maker for selling 2,500 mg gummies

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ST. PAUL, Minn. — The Minnesota Board of Pharmacy on Monday sued a Moorhead-based manufacturer of THC-infused gummies, saying the company’s candies contain far stronger doses of THC than state law allows.

The lawsuit alleges that Northland Vapor Co. and its stores in Moorhead and Bemidji are violating Minnesota’s new law allowing low-potency edible and drinkable cannabinoids.

Those products must not contain more than 5 milligrams of hemp-derived THC in a single serving or more than 50 milligrams per package. But investigators found candies with 20 times the legal dose and packages containing 50 times the limit, it alleges.

That is…a lot of THC

In most legal adult-use states, a single serving of a THC-infused edible is limited to 5 mg or 10 mg of THC. For an adult cannabis consumer who occasionally enjoys an edible, 5 to 10 mg can hit like one or two glasses of wine. Doses above 20 mg to 50 mg are usually enjoyed by consumers with a higher cannabis tolerance, or used to medicate for extreme pain situations, such as that faced by cancer patients.

Legal states typically limit the total allowable THC level to 100 mg per package. That is, 20 gummies containing 5 mg each, or 10 gummies containing 10 mg each.

All of which is to say: A 100 mg single-dose gummy is delivering a powerful THC punch. A 2,500 mg package of gummies is…well, it’s a lot.

And the Northland Vapor Company seemed to show some awareness of what it was offering. The product’s name: Death by Gummy Bears.

Related

Make no mistake, marijuana edibles are legal now in Minnesota

No people, no animals, no fruit

In the lawsuit, state officials said the gummies also violate Minnesota’s provision that edibles must not resemble people, animals or fruit. Another product, sold under name “Wonky Weeds,” also exceeded the state’s limits, the lawsuit claims.

The Pharmacy Board, as well as Food and Drug Administration officials, inspected Northland Vapor’s manufacturing facility in Moorhead on Nov. 8, and embargoed the noncompliant products, which the Board estimated have a retail value of over $7 million.

Company says it tried to comply

The lawsuit, filed in Clay County District Court in Moorhead, seeks a court order that those products be destroyed, and for the company to desist from selling edibles that violate the state law, which took effect July 1, 2022.

Northland Vapor attorney Tyler Leverington said in a statement that the company tried to work with the state to comply with the law, “but someone decided Northland should be made an example.”

Recreational marijuana itself remains illegal in Minnesota. But Democrats who took full control of state government in the November elections plan to make a push to broadly legalize it in the upcoming legislative session. Senate Republicans blocked previous attempts but lost their majority.

Edible products that contain hemp-derived delta-9 THC were inadvertently made legal by a state law that passed earlier this year. That law was the result of legislators’ attempts to clamp down on hemp-derived delta-8 THC products, but the language of the law mistakenly created a loophole for hemp-derived delta-9 THC products.



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adult-use cannabis

Delivery is in the works for New York’s new legal weed stores

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The New York Office of Cannabis Management’s latest advisory board meeting went down December 1, with the stated deadline of New Year’s looming.

Last month, 36 operators, including eight nonprofits and 28 justice involved individuals, were awarded the first round of licenses to operate dispensaries. While nonprofits may use their own pre-established location, the other 28 licensees must wait for the state to assign them a physical retail space.

Delivery is coming soon

Newly-licensed dispensaries will be able to conduct sales via delivery while they establish their new storefronts, provided the licensees follow the regulations outlined by the OCM, announced Executive Director Chris Alexander at the meeting.

Alexander added that regulations for consumption spaces or delivery-only businesses still have not been finalized, emphasizing that delivery is the best temporary solution to get the new stores up and running while brick and mortar stores are prepared.

New regulation to protect New York dispensaries

Director of Policy John Kagia also announced updated industry regulations, which include protections for cannabis businesses from municipalities that may want to undermine them before they’ve even opened.

Kagia stated that while local municipalities may submit their opinions for allowing a cannabis dispensary to operate in their jurisdiction, they “can’t create special rules” specifically for weed businesses, such as cannabis-only fees, or requiring the state minimum of 70 hours of operation per week.

“This will help protect our licensees from local laws that could make it more difficult for them to be successful and even more difficult to effectively run a cannabis business.”

John Kagia, OCM Director of Policy

State announces new equity mentorship program

Additionally, Damian Fagon, the OCM’s chief equity officer, announced that 250 applicants had been selected for the state’s equity mentorship program, which was designed to help impacted applicants prepare to enter the market.

The program is slated to start mid-January 2023, and consists of a “10-week webinar series aimed at growing and diversifying the pipeline of farmers and processors in the market.”

More updates from New York

  • The meeting did not address the state’s recent change in cannabis testing regulations that now allow higher acceptable levels of certain molds, bacteria and pesticides in regulated products.
    A report released this week also found that many illicit shops claiming to have licensed and tested products could be selling weed and vapes that are tainted with E. coli, mold, and pesticides.
  • On November 21, the 36 first adult-use dispensary licenses went to business owners with New York cannabis convictions and nonprofits. The first approved stores are expected to open within the next three weeks.



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Cannabis Industry

New Yorkers may soon be buying weed from union budtenders. Here’s why

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New York established the nation’s first cannabis market with labor peace agreements. Here’s how that could affect the entire industry for years to come. 

In 2021, New York became the 17th state to legalize recreational marijuana—and the first to include a legal clause requiring labor peace agreements. That means when the state’s first licensed stores open in a few weeks, you may be purchasing your eighth from a union budtender.

Labor peace agreements (LPAs) are laws that protect workers who choose to unionize. No other legal state dealt with the issue prior to New York. But after New York adopted its LPA clause, other states soon followed. New Jersey, where legal stores opened last April, and Connecticut, where they’re expected in early 2023, both included LPAs in their legalization laws.

While it’s still early days—New York’s stores haven’t even opened yet—a lot of union organizers are already hard at work in the tri-state area. The future of employment rights and working conditions in the cannabis industry as a whole could be shaped over the next few years in the Northeast’s tri-state market.

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Capitol Confidential: California dustup over cannabis unions

How will unions impact New York’s cannabis market?

Nikki Kateman, political director for UFCW (United Food and Commercial Workers) Local 338, represents cannabis workers in New York. “It’s very rare that you get to be in a state that’s creating a brand new industry,” she told Leafly. “We have to make sure the jobs created are good jobs, not ‘Amazon jobs’ and low-road employment. It should be treated as a career and compensated well.”

In New York’s emerging adult-use cannabis market, employers will have to sign an LPA in order to receive their operating license from the state. This agreement says that an employer will not attempt to interfere with workers who want to organize and join a union.

“Not every cannabis workplace will automatically be unionized, but to get a cannabis business to sign an LPA means they agree to remain neutral and not to actively oppose efforts by workers to unionize,” said Ademola Oyefeso, UFCW International Vice President and Director of Legislative and Political Action. “In return, the union agrees not to organize strikes and work stoppages.”

In an era where global giants like Starbucks and Amazon are fighting tooth-and-nail to defeat every single local unionization effort, that’s a really big deal.

‘Wait, weed dealers have a union?’

Caption: With a retail weed industry quickly approaching New York and other major markets, the UFCW aims to help secure stable and lucrative careers for workers across the cannabis industry. Supporters Candy Angel (left), Jon Cappetta (second from left), and Norbert Pickett, owner of Cannabliss dispensaries (middle right) pose after a panel at the Black CannaBiz Expo in New Orleans. (UFCW)
With a retail weed industry quickly approaching New York and other major markets, the UFCW aims to help secure stable and lucrative careers for workers across the cannabis industry. Supporters Candy Angel (left), Jon Cappetta (second from left), and Norbert Pickett, owner of Cannabliss dispensaries (middle right) pose after a panel at the Black CannaBiz Expo in New Orleans. (UFCW)

Kateman told Leafly that many people can’t believe it when they find out about cannabis workers unions. “‘They have a union?!’”—is what many say when they learn about UFCW’s local work, according to Kateman. The Local 338 arm of UFCW unites approximately 13,000 people working in a variety of industries throughout New York and northern New Jersey. Kateman said she expects to be onboarding thousands of workers from the adult-use cannabis market in the next few years.

Related

Canadian budtenders fear for their safety at work

UFCW also represents supermarket and retail workers, as well as the people who make the footballs used in NFL games and a growing number of university graduate students. But the budding field of legal weed—which employed 428,059 people nationwide in 2022— is one of the union’s fastest-growing constituencies.

How advocates made workers rights NY law

The UFCW’s organizing work in New York began even before weed was legalized. In the months leading up to the March 2021 passage of New York’s Marijuana Regulation and Taxation Act (MRTA), Kateman and other union officials lobbied for the inclusion of labor peace agreements in the landmark legalization law.

“New York is expanding a relatively new industry, so it was critical that safeguards were put in place to ensure the tens of thousands of jobs being created—and thereby supporting New Yorkers who would be hired for those jobs in quality employment—would be high road careers. Labor peace agreements provide the space for workers to decide that unions are the right choice for them and collectively bargain for improved wages, benefits, and workplace conditions without employer interference.”

Nikki Kateman, political director for UFCW

New York already has some of the highest unionization percentages in the medical cannabis industry. The focus for advocates and lawmakers was to establish a legal framework where employers remain neutral toward unions, and approach worker decisions to organize with respect.

The UFCW is seeing results in that regard, according to members. At the 2022 Black CannaBiz Conference in New Orleans, Norbert Pickett, UFCW member and owner of Washington DC’s popular Cannabliss dispensary, challenged the common notion that unions and business owners have to be at odds. In fact, for Black business owners, Pickett told Leafly, the union is a valued ally.

“We communicate, we problem solve together. If there’s anyone intimidated by [unionization], there’s nothing to be afraid of,” he said. Pickett remains proud and confident knowing that when ex-employees move on to join other businesses, or start their own, they are already prepared for success by unions like UFCW.

Pickett told Leafly that, as a result of the union’s work, employees of Cannabliss make the highest wages of any cannabis dispensary in the District of Columbia. They also get health benefits, a matched 401k program, vacation time, and opportunities for training, certification, and advancement.

Pickett said this helps Cannabliss stay competitive, because employees are motivated to excel in their jobs. He also believes that together, Cannabliss and UFCW are creating a pipeline to entrepreneurship, which benefits Black representation in the space.

“We don’t want to keep employees as workers,” Pickett told Leafly. “We want them to go on and do their own thing, whether it’s in transport, processing, branding, retail or other areas.” 



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