Top Marijuana Stocks To Watch That Are Starting To Recover
As marijuana stocks start to rise up in trading how high will they go? Many are keeping a close eye to see what comes of this recovery in the cannabis sector. Most who are actively involved in trading marijuana stocks know the last 9 months have been tough. Since mid-February, both Canadian and U.S. pot stocks have felt the impact of the downtrend. This drop-in trading created a lot of uncertainty about the future of marijuana stocks. The reason was even when good news was released about a cannabis company it did little to nothing for how the company traded.
As well during the first few months of the downtrend, cryptocurrency stole the spotlight. This also drew attention away from the sector as people wanted to invest in things that are turning a profit. Well, cannabis stocks were not doing that at the time as they once did prior to early February. From this many did not know what to do or how to react so people either sold or held. Some even continued to buy the dips so they could lower the cost of their position. By doing this it gives a chance for shareholders to see some profit or break even. As well during this time was an opportunity to find the best marijuana stocks to buy.
Even top cannabis stocks that people thought would consistently rise fell. Which wasn’t all bad for those who were able to buy the dips from these companies. In addition to allowing for a lower position cost to see nice returns if and when the sector runs. So with recent trading starting to show better upward movement people are starting to feel more confident. Especially with a big push for the passing of federal cannabis reform. All in all marijuana stocks and the sector as a whole seems to be a good place for now. Below are a few cannabis stocks to watch as the sector continues to recover.c
Top Marijuana Stocks To Watch This Month
Columbia Care Inc.
Columbia Care Inc. cultivates, manufactures, and provides cannabis-based health and wellness solutions, and derivative products. The company holds licenses in 18 jurisdictions in the United States and the European Union. As of October 13, 2021, it operated 130 facilities, including 99 dispensaries and 31 cultivation and manufacturing facilities. In recent news, the company has reported its Q3 2021 results. During this time the company hit a record quarterly revenue of $132.3 million. This makes for an increase of 144 percent year over year and 21 percent QoQ.
Next Columbia Care also saw a record Adjusted EBITDA of $31.0 Million. Which made for an increase of 634% YoY, 89% QoQ. Also, the company reached a record quarterly adjusted gross profit of $64.5 million. These figures made for an increase of 205% YoY, 35% QoQ. Another highlight to mention is Columbia Care hit a record adjusted gross margin of 49%. For the company, this was an increase of 965bps YoY, 527bps QoQ. As Columbia Care shows more success this will catch the attention of potential investors.
[Read More] Top Marijuana Stocks To Watch Mid November
Words From The Company
“We are pleased to report accelerating momentum and another record quarter for Columbia Care as fundamentals continue to improve and we execute on our national strategy,” said Nicholas Vita, CEO of Columbia Care. “With sequential revenue growth of over 20%, Columbia Care has continued to outpace the market while also maintaining margin discipline to achieve record company profitability, reflected in increased EBITDA margin and gross margin for the quarter.”
[Read More] Top Canadian Marijuana Stocks In November 2021
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 in Pennsylvania, Virginia, Ohio, Illinois, California, Nevada, and Massachusetts. Over the last week and a half, the company has released some important news updates. On November 8th Jushi announced it will release its Q3 financial results.
This report will be pubic on November 17th. Management will host a conference call and audio webcast that morning at 9:00 a.m. ET to discuss the Company’s financial results. Next in more recent developments, Jushi announced the filing of its preliminary base shelf prospectus. The Shelf Prospectus, when made final and effective, will allow the Company to offer up to C$500 million of subordinate voting shares.
In addition to subscription receipts, debt securities, convertible securities, warrants, and units. As well as any combination thereof, from time to time during the 25-month period that the Shelf Prospectus is effective. The Company intends to file the Final Shelf Prospectus in order to maintain financial flexibility. Which includes responding to significant regulatory improvements and pursuing opportunistic acquisitions. With much in the works for the company time will show how this will add more value to this marijuana stock.
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