3 Marijuana Stocks To Buy Right Now In 2022?
To kick the new week off some marijuana stocks are seeing better trading than others. Any gain is better than no gain yet what cannabis stock investors want to see is more upward consistency. Marijuana stocks are incredibly volatile so this causes some unpredictable patterns in the market. That’s why at times if you are not focused you can miss your window to take profits. Now even if you miss the upswing a little pullback could be an opportunity as well. Let’s say the bulk of the sector sees a drop in trading this moment could be a chance to find top marijuana stocks to buy. Especially at lower entry levels which is good preparation for the next rise in trading. When it comes to marijuana stocks or any stocks for that matter having a strategy is key.
Once you have some kind of plan trade your plan unless it needs to change. When investing in marijuana stocks you want to limit your risk as much as possible. That is why learning about each company and watching the market before actually buying shares of a marijuana stock can be a good thing. You never want to blindly invest in anything let alone something as volatile as marijuana stocks. So it’s always best to do thorough due diligence to gain a better upper hand on the market. The marijuana stocks to watch below are several options to watch before the start of June
Top Marijuana Stocks To Watch In 2022
Canopy Growth Corporation (NASDAQ:CGC)
High Tide Inc. (NASDAQ:HITI)
Sundial Growers Inc. (NASDAQ:SNDL)
Canopy Growth Corporation
Canopy Growth Corporation together with its subsidiaries, engages in the production, distribution, and sale of cannabis and hemp-based products for recreational and medical purposes primarily in Canada, the United States, and Germany. It operates through two segments, Global Cannabis and Other Consumer Products. On the 13th of May Canopy said it will report its Q1 2022 financial results on May 27th.
Also in recent news, the company is gearing up to release new inventory. The company has unveiled a line-up of new offerings across its premium brand portfolio – 7ACRES, Ace Valley, Deep Space, and Doja. As the company continues to push forward it could have positive effects on the way CGC trades heading into June.
Words From The Company
“We are continuing our commitment to product innovation, tirelessly evolving our portfolio to provide consumers with the quality and variety of products they crave,” said Julian Cohen, Chief Innovation Officer at Canopy Growth.
High Tide Inc.
High Tide Inc. engages in the cannabis retail business in Canada, Europe, the United States, and internationally. The company designs manufacture and distribute smoking accessories and cannabis lifestyle products. It is also involved in the wholesale and retailing of cannabis products, as well as operates and franchises licensed retail cannabis stores. Back on May 9th, the company announced the appointment of the new Chief Technology Officer Greg Fleury.
Plus providing a time for the release of the company’s Q2 2022 financial results. In recent developments, the company announced its s Cabana Club loyalty program has surpassed the milestone of 515,000 members. In addition to adding 2 more stores to its network. This new figure represents 110% growth from the 245,000 members the Cabana Club had when the Company first launched.
[Read More] Are These The Best Canadian Marijuana Stocks To Buy In 2022?
Words From The CEO
“I know that the last several months have been incredibly difficult in the capital markets, including our own equity performance. As the largest shareholder of High Tide, I have also been feeling the effects of these trying times. Despite these challenges, I have yet to sell a single share, and continue to view High Tide as an undervalued company – a sentiment that is shared by the entire senior management and board of directors of the Company. Our business continues to grow further from the highs we set in Q1 2022 and our business fundamentals remain strong, as evidenced by the exponential increase in our Cabana Club membership, which now stands at over 515,000,” said Raj Grover, President and Chief Executive Officer of High Tide.
Sundial Growers Inc.
Sundial Growers Inc. engages in the production, distribution, and sale of cannabis products in Canada. The company operates through Cannabis Operations and Retail Operations segments. It engages in the cultivation, distribution, and sale of cannabis for the adult-use markets. As well as the private sale of recreational cannabis through corporate-owned and franchised retail cannabis stores. In Sundial’s most recent news they reported their Q1 2022 earnings.
At this time the company acquired Alcanna Inc. on March 31, 2022, From this venture it created the largest private-sector cannabis and liquor retail network in Canada. Net revenue was $17.6 million, including one day of revenue on the acquisition of Alcanna. Which made for an increase of 78% over the first quarter of 2021. Also, the company’s gross margin increased to $3.4 million for the first quarter of 2022.
[Read More] 3 Marijuana Stocks To Keep On Your Radar This Week
Marijuana Stocks Outside Of The Market Continue To Thrive
Currently, many cannabis companies are showing increased profitability. This is due to various things outside of the market. Some cannabis companies have opened new locations around the United States. Others have introduced new products and team members. From this, a good amount of cannabis companies have been able to report solid Q1 2022 earnings. Which has played a small role in some cannabis stocks seeing more trading momentum.
MAPH Enterprises, LLC | (305) 414-0128 | 1501 Venera Ave, Coral Gables, FL 33146 | new@marijuanastocks.com
