The best marijuana stocks to buy before February? 4 to add to your watchlist right now
The Best Cannabis Stocks for 2022 and the Current Cannabis Industry
To start 2022 in the best way marijuana stocks to invest in set new lows in January. As cannabis investors continue to see the consequences of failure to complete US federal cannabis reform in 2021, have cannabis stocks reached a buy point? Well, that depends on many factors, including how inflation is handled in the first quarter and whether we see the Senate passing cannabis reform in 2022.
Currently, it looks like the Fed is going to stick to the plan it laid out for rate hikes, even though many believe they let inflation get ahead of them. In the The cannabis industry in the United States continued to grow rapidly at the state level as new legalized medical and recreational markets are established. Due to current federal policy, vertically integrated cannabis companies in the United States cannot trade on major US exchanges.
Currently, they trade in OTC markets beyond the reach of many new retail investors using Robinhood Markets, Inc. (NASDAQ: HOOD) and WeBull platforms. Moreover, many large investment institutions do not touch it for this same reason. As a result, this has left major US marijuana stocks with a much smaller investment pool from which to grow. But with pot stocks hitting new lows this month, this could be an opportunity for investors to establish positions in the growing cannabis industry.
Stock market volatility and cannabis market growth in 2022
With overall markets starting the year with significant market volatility, it’s possible we could see more downside for marijuana stocks. In general, this could be a good time to establish a cannabis inventory watchlist to track the behavior of the cannabis industry over the next few months. As it stands, it looks like major marijuana stocks have priced in the possibility of not achieving cannabis reform in 2022. That could mean a significant upside if that happens, but judging by past heists are not something to bet on this year. Instead, cannabis investors should seek out the most successful companies that are establishing a strong presence in the growing US market.
Over the next five years, the US industry cahttps://marijuanastocks.com/marijuana-stocks-to-watch-at-the-close-of-the-month/nnabis is expected to double in size and the largest source of revenue cannabis companies will be able to experience significant growth. It’s a good place to start looking best cannabis stocks to buy in 2022. As this week creates new lows in the cannabis industry, let’s take a look at 4 best marijuana stocks for your Q1 2022 watchlist.
The Best Cannabis Stocks To Add To Your Watchlist Before February
- Trulieve Cannabis Corp. (OTC: TCNNF)
- Verano Holdings Corp. (OTC: VRNOF)
- Curaleaf Holdings, Inc. (OTC: CURVE)
- Cresco Labs Inc. (OTC: CRLBF)
Trulieve Cannabis Corp.
Trulieve Cannabis Corp. is a highly successful cannabis company with the largest presence in Florida, with a market share of approximately 46%. On December 8, the company opened its 112th dispensary in the state. Harvest Health & Recreation Inc. has been purchased and by 2021 revenues are expected to exceed $1.2 billion. The company is currently the industry leader in the United States, with 160 outlets. Additionally, the company has a cultivation and processing capacity of 3.5 million square feet. Trulieve has received a production license in Georgia, allowing it to expand its presence in the Southeast cannabis market. Additionally, the company opened its first dispensary in Massachusetts, laying the foundation for future expansion. Trulieve has hired a few officials to wrap up 2021, including Chairman Steve White, Vice Chairman and General Counsel Nicole Stanton, Director of Investor Relations Christine Hersey and Senior Director of Corporate Communications Rob Kremer.
Trulieve launched Live Diamonds, a hydrocarbon mining product that is the first of its kind in Florida, on January 10. Trulieve’s third quarter 2021 results were released in November, marking the company’s 15th consecutive profitable quarter. Over the previous year, the company’s net revenue increased 64% to $224.1 million. As a result, Trulieve made a gross profit of $153.9 million, with a gross margin of 68.7%. The company’s adjusted EBITDA was $98 million, representing 43.7% of revenue. The company began farming operations and operated its first dispensaries in West Virginia. TCNNF stock closed Jan. 28 at $18.64 down 10.99% over the past five trading days. Currently, the stock has a 52-week price range of $18.46 to $53.73 and is down 42.40% over the past six months.
Verano Holdings Corp.
Verano Holdings is a multi-state cannabis company that provides legal cannabis products to its customers. Specifically, the company manufactures high-quality cannabis products under various brand names. Across 11 states, Verano, for example, has 93 dispensaries and 12 growing and processing facilities. In Florida, the company has 41 dispensaries, giving it a significant presence in the state. Zen LeafTM and MUVTM, the Company’s retail brands, operate dispensaries that serve both medicinal consumers and adults. In October, the company established a drive-thru dispensary on Flamingo Road in Las Vegas. Verano purchased Carin Nature, LLC and Pharmaceutical Solutions, Inc, both of which operate dispensaries in Connecticut, in December.
TerraVida and The Healing Center were recently purchased by Verano. Verano already has six dispensaries in Pennsylvania and has permission to open three more as a result of the deal. The company established a flagship dispensary with a four-lane drive-thru in Pittsburgh earlier this year. The company reported revenue of $207 million for the third quarter of 2021 in November, up 106% from a year earlier. Additionally, on an unadjusted basis, gross profit climbed 33% sequentially to $133 million, or 64% of revenue. Verano increased its presence in the third quarter by launching seven new dispensaries in its main areas. VRNOF stock closed at $10.32 on Jan. 28, down 13.28% in trading days last month. Currently, the stock has a 52-week price range of $9.86 to $28.00 and is down 30.03% over the past six months.
[Read More] Top 10 Marijuana Stocks For Your 2022 Watchlist
Curaleaf Holdings, Inc.
Packaged cannabis products are sold by Curaleaf Holdings, Inc., a multi-state cannabis retailer with 113 outlets in the United States. Curaleaf International, the company’s wholly-owned subsidiary, has launched operations in Germany, providing access to medicinal cannabis products through Adven GmbH, the company’s wholly-owned subsidiary. In the United States, Curaleaf’s Select brand is one of the best known. After purchasing Tryke Companies in November, Curaleaf expanded its operations to three additional states. The company currently has properties in Arizona, Nevada and Utah in its portfolio. Curaleaf’s cooperation with B Noble has now expanded to 10 states, including the medical sector in New York. B Noble aims to improve social equity within the company.
Curaleaf reported third-quarter 2021 revenue of $317 million in November, up 74% from a year earlier. Adjusted EBITDA for the year was $71 million, up 69% from the prior year. Curaleaf’s operating cash flow in the third quarter of 2021 was $52 million, or 16% of revenue. As a result, gross revenue from cannabis sales in Q3 2021 increased 61% year-over-year to $144 million. Los Suenos Farms was also purchased, bringing the company’s total cultivation capacity to 4.4 million square miles. Company to Release Fourth Quarter and Year-End 2021 Results on March 3rd after market close. January 28and, CURLF stock closed at $7.04, down 6.27% for trading days. The stock is currently trading in a 52-week range of $6.90 to $18.38 and is down 42.20% over the past six months.
Cresco Labs Inc.
Cresco Labs is a vertically integrated cannabis company based in the United States. The company is currently the number one manufacturer of branded cannabis products in the United States. Cresco is the most popular marijuana brand in Illinois and Pennsylvania, according to a recent BDSA study. Cresco currently has 45 outlets in 11 states, 20 production facilities and 47 retail licenses. Sunnyside launched its fourth dispensary in Pennsylvania as part of its expansion plan. The Good News product line will expand to include new consumables and vaping options, according to the company. To increase profitability and eliminate third-party distribution, the company will transition to own-brand distribution in California in October.
In the third quarter of 2021, the company had revenue of $215.5 million, up 40.6% year-over-year. As a result, Cresco made a gross profit of $116.7 million, or 54.2% of revenue. In the last quarter, Cresco’s adjusted EBITDA soared 24% to $56.4 million. The company forecast gross profit margins of more than 50% for the rest of 2021, as well as fourth-quarter sales of $235 million to $245 million, reiterating its previous guidance. Another substantial contributor to the company’s loss was a $291 million impairment charge related to changes in intangible assets due to Cresco’s change in strategy for its California operations. The CLRBF ended the month at $5.86, down 9.85% from the previous month’s conclusion. The stock is currently trading in a 52-week price range of $5.16 to $17.49, posting a decline of 43.45% in six months.
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