Top Marijuana Stocks To Watch For Better Trading
Marijuana stocks are still showing inconsistent trading patterns. Those who are watching the cannabis sector can see that much of the upward trading that has occurred although a positive is still short-lived. Nevertheless, there is some upside to this continuous volatility. For one anytime a rise in trading happens it’s a good time to take profits as you can. Again the reason for this is due to most marijuana stocks seeing short recovery time.
Now when there is a decline this is a chance to find marijuana stocks to buy. Even with the cannabis sector having unpredictable up and down patterns with a game plan and patience money can be made. There are many people who have had to adjust their trading style when it comes to marijuana stocks. With no federal reform in place, much of this volatility will continue to occur.
Some investors who are looking for the least risk may see ancillary marijuana stocks this way. The reason ancillary marijuana stocks have less risk is their business is not solely dependent upon cannabis. So if the other areas of the company’s business are thriving it can have a positive impact on how the company trades. So if you feel investing in marijuana stocks is the right move make sure you do your due diligence. The companies below are a few options to consider this month.
Top Marijuana Stocks For Your Watchlist
- Curaleaf Holdings, Inc. (OTC:CURLF)
- Acreage Holdings, Inc. (OTC:ACRHF)
- TPCO Holding Corp. (OTC:GRAMF)
Curaleaf Holdings, Inc.
The Cannabis Operations segment engages in the production and sale of cannabis through retail and wholesale channels. In recent news, the company released its third-quarter 2022 results.
Q3 Highlights & Key Mentions
- Added two net new retail dispensaries in PA and Citrus Park, FL closing the quarter with 137 total locations, and servicing over 2,000 wholesale partner accounts.
- Acquired a 55% stake in Four20 Pharma GmbH, a fully EU-GMP & GDP licensed German producer and distributor of medical cannabis, with a strategic pathway to acquire complete control of Four20 Pharma after two years of the commencement of adult use in Germany.
- Launched Plant Precision, a curated collection of edibles and a topical gel designed to target specific wellness categories.
- Launched “The Farmer’s Select” program, an ongoing series of limited-edition collaborations with licensed legacy farmers and diverse operators in California.
Began expansion of Grassroots into new states, including the introduction of Infused Pre-rolls in California.
Acreage Holdings, Inc.
Acreage Holdings, Inc. formerly High Street Capital Partners, is a principal investment firm specializing in the cannabis industry. On November 7th the company reported its 3rd 2022 financial results.
Third Quarter 2022 Financial Highlights
- Consolidated revenue was $61.4 million for Q3 2022, an increase of 28% year-over-year.
- Gross margin of 35% compared to 50% in the second quarter of 2022 (“Q2 2022”). Excluding non-cash inventory adjustments, the gross margin was 45% for Q3 2022.
- Adjusted EBITDA* was $8.8 million in Q3 2022, compared to $6.5 million in the third quarter of 2021 (“Q3 2021”). Adjusted EBITDA* as a percentage of consolidated revenue was 14% for Q3 2022.
[Read More] Top Cannabis Stocks To Watch Under $2 Now
Third Quarter 2022 Operational Highlights
- Concluded operations in Oregon with the completion of the sale of four retail dispensaries in the state branded as Cannabliss & Co.
- Became one of only a small number of producers in the state of New York with the capability to supply non-remediated whole flower to the market upon the launch of the Company’s whole flower sales under the state’s strict microbial testing regulations.
- Continued strong growth in New Jersey with adult-use sales and made continued progress on upgrades to the infrastructure and operating procedures at the Company’s Egg Harbor, New Jersey cultivation facility.
TPCO Holding Corp.
TPCO Holding Corp. cultivates, extracts, manufactures, distributes, retails, and delivers cannabis in California. At the start of November, the company announced the divesture of the wholesale extraction division. The decision to divest SISU was driven by the Company’s previously announced cost savings initiatives.
Which are focused on reducing costs, driving efficiencies, and accelerating its path to sustainable, long-term profitability. The Agreement will ensure ongoing service for existing clients as well as the continuation of employment for SISU employees while avoiding any potential shut down related expenses to the Company.
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