Top Marijuana Stocks To Keep On Your Radar This Month
Many marijuana stocks are still showing volatile action in the sector. Now, this has not been all bad for the sector as some marijuana stocks have seen better trading. However, the same issues are still present with finding consistent upward trading. Yet the cannabis industry overall is in a progressive place. For example, more states are soon to vote on legalizing cannabis. If more states begin to legalize cannabis it will lead to more opportunities and growth for the industry. So, for instance, there would be more jobs as well as companies expanding brands and products. From this more companies would be able to potentially see more revenue.
When a company can show that it is profitable it gives more people the optimism they need to invest in marijuana stocks. Also, the fight for federal cannabis reform is also a big factor for the sector. Over the last year, any positive news on the matter has most times resulted in better trading. Currently, there are several pieces of federal cannabis reform that are passed that can be a huge victory for the cannabis industry. Still, with the sector’s unpredictable action at times, it can be tough to see the gains shareholders want to see.
Nevertheless with the sector still growing and developing there is still much to be seen and done. Hopefully, the more success that companies the greater the chance of seeing better trading momentum for cannabis stocks. If you are looking to invest in marijuana stocks today make sure you do your homework and learn about each company. The more you know the better odds you have at seeing a return, especially in a volatile sector.
Marijuana Stocks To Watch Right Now In The Market
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. It focuses on building a portfolio of cannabis assets in various jurisdictions throughout the United States. Over the last week or so the company has released a few pieces of news. On July 11th the company announced the grand reopening of Beyond Hello™ Palm Springs. Following this release, the company also announced a change in management. Ed Kremer has resigned from his position as Chief Financial Officer to accept a role at a competing large cannabis multi-state operator.
While Jushi is appreciative of Mr. Kremer’s hard work to support the timely filing of audited financials. The Company takes such post-employment obligations seriously and will take steps to enforce its contractual rights. The Company announced that President and Founder, Jon Barack, will assume the additional role of interim Chief Financial Officer with immediate effect. Jushi also announced that James Cabral has been promoted to Chief Accounting Executive. Mr. Cabral joined Jushi in July 2021 as Sr. Vice President of Finance.
Words From The Company
“Over the past year, we have made tremendous progress upgrading our talent and building out our bench strength across our finance and accounting departments,” said Jim Cacioppo, Chief Executive Officer, Chairman, and Founder of Jushi Holdings Inc. “I am confident that the team we have assembled, with the support of senior leadership, will provide continuity as we recruit a new Chief Financial Officer with the qualifications to support our expansion initiatives and complete the securities registration process in the U.S.”
Cansortium Inc.
Cansortium Inc. through its subsidiaries produces and sells medical cannabis in the United States. The company engages in the 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.
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.
2022 Outlook - 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.
Words From The CEO
“Now that our filing delay is behind us, we can focus entirely on the strong momentum that continues to build in our business,” said CEO Robert Beasley. “We generated another record quarter of results in Q1 and based off the weekly data reported by the Office of Medical Marijuana Use (OMMU), Fluent has continued to climb the charts and improve its market share in Florida in the second quarter.”
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