2 Marijuana Stocks To Watch For Next Week’s Trading
Marijuana stock investors are keeping a positive attitude as they search for the silver lining in the sector. For some time marijuana stocks have been trying to work through this volatility to reach better upward consistency. At one point many cannabis stocks were able to trade with consistent momentum. Even when there would be some pullback it would not take long for the sector to recover.
Currently, that is not what is going on for marijuana stocks. Yet when there is a decline it gives people a chance to find marijuana stocks to buy that may be able to keep up their momentum. Still, there are several factors that could be a factor in the rise or fall of the cannabis sector. Specifically for the publicly traded side of things, the progress of the cannabis industry plays a big role.
For example, things like cannabis legislation can be a big reason why the sector can rise or fall. As well as other catalysts like company earnings or news about a company’s progress or new venture. The cannabis industry as a whole is still fairly young and growing day by day. This means that there are still areas of opportunity for those looking to get involved with legal cannabis. Like always make sure you do thorough due diligence to determine which cannabis stocks are better for your portfolio.
Top Marijuana Stocks To Watch Now In 2022
Green Thumb Industries Inc.
Green Thumb Industries Inc. engages in the manufacture, distribution, and sale of various cannabis products for medical and adult use in the United States. During the first week of August, the company released its Q2 2022 earnings.
Q2 2022 Highlights
- Revenue increased 4.8% sequentially and 14.6% year-over-year to $254.3 million.
- First half 2022 revenue increased 19.4% to $496.9 million compared to the first half of 2021.
- Eighth consecutive quarter of positive GAAP net income, delivering $24.4 million or $0.11 per basic and $0.10 per diluted share.
- Adjusted Operating EBITDA grew 17.4% sequentially to $78.7 million or 31.0% of revenue.
- Cash flow from operations of $39.9 million year-to-date.
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Jushi Holdings Inc.
Jushi Holdings Inc. is a vertically integrated cannabis company, that 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 across different states throughout the USA. On August 29th the company released its Q2 2022 earnings.
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Second Quarter 2022 Highlights
- Total revenue of $72.8 million, an increase of 52.4% year-over-year and 17.6% as compared to the quarter ended March 31, 2022 (“Q1 2022”)
- Retail revenue increased 16.1% to $67.3 million and wholesale revenue increased 42.1% to $5.5 million, as compared to Q1 2022
- Gross profit of $26.7 million, an increase of 17.2% year-over-year and 39.5% as compared to Q1 2022
- Adjusted gross profit of $27.8 million, an increase of 19.1% year-over-year and 12.3% as compared to Q1 2022
- Net Income of $12.1 million
- Adjusted EBITDA of $0.5 million
- Cash and cash equivalents were $43.2 million as of the quarter end
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