Best marijuana stocks to watch before December 2021
Main cannabis stocks and possible catalysts in December
Looking for the best stocks of marijuana to buy before December? On Black Friday, most of the cannabis industry saw a downturn due to renewed concerns over Covid-19 and a new variant found in Africa. In general, November saw an increase in market volatility for major cannabis stocks. This is in part because of a bipartisan push to establish federal cannabis reform this month in Congress.
Potential legislation, the SAFE Banking Act, is attached to the NDAA and could continue its way into the Senate. Although some Democratic leaders prefer to spend cannabis legalization and decriminalization before banking reform, their delays in accomplishing this task caused serious problems for the most important actions. But these lower trading levels could be an opportunity for investors to establish positions in the cannabis sector at lower values.
Right now, the cannabis industry is growing rapidly at the state level since the pandemic. As new states continue to establish cannabis markets, the next five years could see substantial market growth. In 2021, these top cannabis companies generated strong profits with significant revenue growth. Unfortunately for investors, this did not translate into gains in the market. It appears that without any Congressional action, the cannabis industry will not gain significantly in the market.
Invest in the best potted stocks before 2022
During current trading, higher levels of marijuana stocks could produce substantial gains according to analysts. Before investing in cannabis stocks, it is important to always do your research on a company. Examining a company’s financial data and tracking the performance of stocks in the market can help you achieve the best returns. Learning to analyze chart patterns and use technical analysis can help you become a successful trader. Let’s look at 3 of the best stocks of marijuana in the United States to add to your watchlist before December 2021.
Best Marijuana Stocks in the US to Watch Right Now
- Green Thumb Industries Inc. (OTC: GTBIF)
- TerrAscend Corp. (OTC: TRSSF)
- Columbia Care Inc. (OTC: CCHWF)
Green Thumb Industries Inc.
Green Thumb Industries Inc. is a leading consumer cannabis packaging company that has established a large footprint in the cannabis industry in the United States. Currently, Green Thumb has 65 outlets in 13 states and recently opened its third store in New Jersey. Currently, GTI has licenses for 111 retail outlets for future expansions. In 2021, GTI opened a Cookies on the Las Vegas Strip through an exclusive partnership with the private label Cookies. In addition, Green Thumb announced the closing of the acquisition of Dharma Pharmaceuticals and its entry into the cannabis market in Virginia.
In November, Green Thumb released its third quarter 2021 results with revenue of $ 233.7 million, up 48.7% year-over-year. Notably, this is the fifth consecutive quarter of positive GAAP net income of $ 20.2 million or $ 0.08 per diluted share. In addition, the company had Adjusted Operating EBITDA which reached $ 81.2 million or 34.7% of revenues. Green Thumb ended the third quarter with cash totaling $ 285.8 million. The company was driven by the expansion of distribution of Green Thumb branded products and increased traffic to the 65 operating clinics.
TerrAscend grows and sells medical and adult cannabis in Canada and the United States. Overall, the company is a leading US cannabis operator with a presence in Pennsylvania, New Jersey and California. TerrAscend has licensed growing and processing facilities in Maryland and Canada. Primarily, the company produces and distributes products derived from hemp and cannabis and manufactures homemade edibles for cannabis consumers. Additionally, TerrAscend has launched a Kind Tree branded product portfolio in Maryland. The Maryland plant was already producing 15 varieties of flowers under the Kind Tree brand and will now be adding half-gran vapes and pre-rolls to the range.
In November, the company released its third quarter 2021 results with net revenue of $ 49.1 million, up 29% year-over-year, but down 16% sequentially. As a result, TerrAscend has an adjusted gross profit margin of 46% compared to 59% in Q3 2020. Another important thing, TerrAscend has signed an agreement to be the only grower and manufacturer of COOKIES branded products in New Jersey and to bring COOKIES at the three dispensaries. it has in the state subject to regulatory approval. In September, the company received prequalification approval from Michigan to acquire Gage Growth Corp. (OTC: GAEGF).
Columbia Care Inc.
Columbia Care Inc. is positioned for significant growth in New York State. Recently, the company acquired a 34-acre grow site on Long Island, which has given the company one of the largest cannabis footprints to serve the East Coast market. Currently, Columbia Care operates in 18 US markets and operates 130 facilities, including 99 dispensaries and 31 growing and manufacturing facilities. In October, the company opened a cannabis dispensary in Missouri, its first location in the state. This month, the company announced the opening of its third dispensary in Virginia under the gLeaf brand. Also in November, Columbia Care announced the arrival of the highly anticipated Tyson 2.0 Cannabis brand from heavyweight champion Mike Tyson to Colorado.
Columbia Care has released its third quarter 2021 results with record quarterly revenue of $ 132 million, up 144% year-over-year. To point out, the company posted a record quarterly adjusted gross profit of $ 64.5 million, a 205% year-over-year increase. In addition, the company had an adjusted gross margin of 49% and a record Adjusted EBITDA of $ 31 million, up 634% year over year. The company revised its guidance for 2021 to $ 470-485 million and its adjusted EBITDA from $ 85 million to $ 95 million. In September, the company received state approval to rename its business footprint across all of its 14 locations in Florida.
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COMTEX_397843694 / 2683 / 2021-11-27T10: 00: 36
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