Top Marijuana Stocks For Better Trading In May
Investing in marijuana stocks can be risky due to the legal and regulatory uncertainties surrounding the cannabis industry. However, it can also be profitable if you have the right game plan and learn how to capitalize on the current volatility. In many countries, cannabis is still illegal at the federal level. This means that cannabis companies may face legal and regulatory challenges.
Additionally, the cannabis industry is relatively new and rapidly evolving, which can make it difficult to accurately predict future trends and developments. Yet, because things are still progressing there is also some upside to investing in cannabis stocks. The cannabis industry is growing, and many experts predict that it will continue to expand in the coming years. This growth potential could translate into significant returns for investors who are willing to take on the associated risks.
As with any investment, it is important to do your research and understand the risks and potential rewards before looking for marijuana stocks to buy. Many feel that with a lack of federal reform, the current volatile trading will continue. For some, there is a fear of regulators coming in and shutting the market down. But with how far the cannabis industry has come and the money being made it’s a low probability that things will be shut down. The companies below are several top marijuana stocks to watch this month.
Marijuana Stocks For Your 2023 Portfolio
- Green Thumb Industries Inc. (OTC:GTBIF)
- Acreage Holdings, Inc. (OTC:ACRHF)
- Cansortium Inc. (OTC:CNTMF)
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. In recent news, the company announced its conference participation for May 2023.
Wolfe Research Consumer Conference (Virtual), May 12, 2023: Management will participate in one-on-one meetings. In other recent news, Green Thumb announced the appointment of Ethan Nadelmann to the Board of Directors. Nadelmann will join the board as an independent director and member of the compensation committee.
Acreage Holdings, Inc.
Acreage Holdings, Inc. formerly High Street Capital Partners, is a principal investment firm specializing in the cannabis industry. Acreage Holdings, Inc. was founded in 2014 and is based in New York, New York. On May 1st the company reported its fourth quarter and full 2022 financial results.
Fourth Quarter 2022 Financial Highlights
- Consolidated revenue of $57.5 million for Q4 2022.
- Gross margin was 35%, in line with the third quarter of 2022 (“Q3 2022”).
- Excluding non-cash inventory adjustments, gross margin was 44% for Q4 2022 compared to 45% for Q3 2022.
- Adjusted EBITDA* was $7.0 million and Adjusted EBITDA* as a percentage of consolidated revenue was 12% for Q4 2022.
Full Year 2022 Financial Highlights
- Full-year consolidated revenue of $237.1 million in 2022 compared to $188.9 million in the full year 2021, an increase of 26%.
- Full-year Adjusted EBITDA* was $34.8 million in 2022, marking a second consecutive year and eight consecutive quarters of positive Adjusted EBITDA* and a $10.2 million improvement compared to $24.6 million in full-year 2021.
- Adjusted EBITDA* as a percentage of consolidated revenue was 15% for the full year 2022.
Cansortium Inc. through its subsidiaries, produces and sells medical cannabis in the United States. Recently the company also reported its Q4 and full 2022 results.
Q4 2022 Financial Highlights (vs. Q4 2021)
- Revenue increased 28% to $23.5 million compared to $18.3 million.
- Florida revenue increased 26% to $19.4 million compared to $15.4 million.
- Adjusted gross profit1 was $0.7 million compared to $11.8 million, with the decrease driven by IAS 41 Addendum leading the Company to recognize income tax on biologicals that was not accounted for the first three quarters in 2022.
- Excluding this one-time impact, adjusted gross profit in Q4 2022 was $11.7 million.
- Adjusted EBITDA increased 54% to $7.9 million compared to $5.1 million.
FY 2022 Financial Highlights (vs. FY 2021)
- Revenue increased 34% to $87.7 million compared to $65.4 million.
- Florida revenue increased 31% to $73.2 million compared to $55.7 million.
- Adjusted gross profit1 was $44.0 million or 50.1% of revenue, compared to $41.9 million or 64.1% of revenue.
- Adjusted EBITDA increased 28% to $25.1 million compared to $19.6 million.
Cash from operations improved significantly to $19.1 million compared to ($5.0) million.
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