2 Marijuana Stocks That May Start To Slowly Build Momentum
Are marijuana stocks and investors focused on the growth of the cannabis industry? For some time many of the top marijuana stocks to watch have shown increased volatile trading. Except for the continued downtrend after a quick rise has been the only pattern sustained. It has been tough for most publicly traded cannabis companies to see sustained upward trading. Most times if a recovery does occur it is still only for a short window. Now some have changed their style of trading to be able to take profits on these quick plays.
However, there are those who are left waiting due to them not being able to take profits fast enough. So with this what are some of the things that could trigger a sustained recovery in the sector? So those who are actively trading cannabis stocks or focused on the sector know that news on federal reform has been the biggest momentum driver. Yet even with the long-awaited reform bill finally revealed by Chuck Schumer the jump in trading was not sustained. Probably due to many believing this bill will not have much success in the Senate.
Still this month many cannabis companies are set to report earnings which could help add some positive sentiment to the sector. With the focus on better laws and development of the cannabis industry overall trading based on fundamentals becomes difficult. The speculation on what the future holds for many investors is thought that can dictate whether to invest or not. However many cannabis companies in the United States and parts of Canada have shown tremendous growth and profitability. So with this, some continue to keep an eye on the sector for any opportunities.
2 Marijuana Stocks To Keep Your Eyes On
Jushi Holdings Inc.
Jushi Holdings Inc. a vertically integrated cannabis company, engages in the cultivation, processing, retail, and distribution of medical and adult-use products. Over the last 4 weeks, the company has released several pieces of news. On July 12th Jushi announced a change in its management. Ed Kremer has resigned from his position as Chief Financial Officer to accept a role at a competing large cannabis multi-state operator.
The company has announced that President and Founder, Jon Barack, will assume the additional role of interim Chief Financial Officer with immediate effect. Next, the company announced on July 25th that it has opened its 34th retail location nationwide. This was made possible through the opening of its 3rd Beyond Hello dispensary in Virginia. So in more recent news, Jushi Holdings has announced it will be reporting its Q2 2022 financial results on August 9th.
Cansortium Inc. through its subsidiaries produces and sells medical cannabis in the United States. The company engages in cultivation, processing, retail, and distribution activities. This past month the company announced it has filed its 2021 audited financial statements. As well as its first quarter 2022 interim unaudited financial statements.
FY 2021 Financial Highlights (vs. FY 2020)
- Revenue increased 25% to $65.4 million compared to $52.4 million.
- Adjusted gross profit1 increased 34% to $41.9 million or 64.1% of revenue, compared to $31.4 million or 59.9% of revenue.
- Adjusted EBITDA increased 90% to $19.6 million or 29.9% of revenue, compared to $10.3 million or 19.6% of revenue.
[Read More] 2 Marijuana Stocks To Watch First Week Of August
Q1 2022 Financial Highlights (vs. Q1 2021)
- Revenue increased 30% to $19.7 million compared to $15.1 million.
- Adjusted gross profit1 increased 19% to $11.5 million or 58.6% of revenue, compared to $9.7 million or 64.2% of revenue.
- Adjusted EBITDA increased 42% to $6.2 million or 31.5% of revenue, compared to $4.4 million or 29.0% of revenue.
- The Company continues to expect revenue in 2022 to range between $90-$95 million, reflecting an approximate 40% increase from 2021.
- Cansortium also expects adjusted EBITDA in 2022 to range between $25-$28 million, reflecting an approximate 35% increase from 2021.
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