Best Cannabis Stocks This Week In November
Do you intend to invest in November’s best marijuana stocks? According to many experts, US MSOs will be the most important cannabis enterprises to watch in 2022. In November, many significant cannabis businesses will release their earnings. As a result of the market’s recent collapse, which saw new lows this month, marijuana stocks in the United States are currently exceedingly volatile.
One reason for this increase is a recent attempt to end the federal ban on cannabis in the US. Recent comments from President Biden and Senate Majority Leader Chuck Schumer have raised the possibility of ending the prohibition on cannabis and providing traditional banking for the sector.
When trading in a market like this, day traders and swing traders often profit the most. Some long-term investors prefer to use short-term trading tactics in addition to their sizeable long-term investments in the cannabis market. They thereby stand to gain from fluctuations in the stock’s price on a daily basis. Federal cannabis law implementation delays have hurt the US cannabis industry, which brings in billions of dollars a year. By taking advantage of the sector’s collapse, investors may be able to benefit from the market’s current trend. The three marijuana stocks to watch in November are listed below.
Top US Marijuana Stocks This Week In November
- Verano Holdings Corp. (OTC: VRNOF)
- Curaleaf Holdings, Inc. (OTC: CURLF)
- Cresco Labs Inc. (OTC: CRLBF)
Verano Holdings Corp.
Verano Holdings, a cannabis company, provides marijuana to consumers in states where it is legal. The business offers a number of brand names for consumers to purchase its high-end cannabis products under. Verano currently controls 13 states, 104 dispensaries, and 12 production and processing facilities. Despite this, the group is well-known in Florida and currently employs 55 various locations. Two of the company’s retail brands, Zen LeafTM and MÜVTM, run dispensaries that cater to both medical and adult-use clients. The company opened a drive-through dispensary on Flamingo Road in Las Vegas.
In August, Verano released figures for the second quarter of 2022, showing a 12% increase in revenue to $224 million compared to the second quarter of 2021. In addition, compared to the first quarter’s $69 million, the second quarter’s gross profit rose by $98 million, or 44% of revenue. The company’s net loss during the second quarter of 2022 was $(10) million rather than $(30) million when compared to the same period in 2021. The business unveiled its 55th site on August 11th in Florida. Verano’s retail footprint has already surpassed the 100-dispensary mark with the addition of new outlets. On November 14, 2022, Verano will announce its financial results for the third quarter of 2022.
VRNOF Stock Performance
VRNOF shares closed at $5.52 on November 11th up 12.23% in the past month of trading. Currently, the stock has a 52-week price range of $4.17-$15.01 and is down 56.11% year to date. According to analysts at Tip Ranks VRNOF stock has a 12-month average price target of $16.32 per share. This would represent an increase of 195.57% from its last trading price of $5.52.
Curaleaf Holdings, Inc.
Curaleaf Holdings, Inc., a multi-state cannabis merchant with 142 retail locations in the United States, makes packaged cannabis products. A fully owned subsidiary of Curaleaf International, Adven GmbH, is currently marketing medical marijuana goods in Germany. One of the most well-known brands in the country is Curaleaf’s Select. In November, Curaleaf acquired Tryke Companies in order to grow into three additional states. Arizona, Nevada, and Utah are currently all owned by the company. The company inaugurated its 51st store in Florida at the end of July. Matt Darin reportedly took over as CEO in May, according to Curaleaf.
In November Curaleaf reported third-quarter 2022 revenue of $340 million an increase of 1% sequentially and 7% YoY. In addition, the third quarter of 2022 Adjusted EBITDA of $84 Million, an increase of 18% YoY. The company generated $60 million of positive operating cash flow in the third quarter and $7 1 million in the first nine months of 2022. For the third quarter of 2022, the net loss attributable to Curaleaf, was $51 million, compared to a net loss of $55 million in the third quarter of 2021.
CURLF Stock Performance
On November 11th CURLF shares closed at $6.32, up 12.86% in the past month of trading. The stock is currently trading in a 52-week range of $4.48-$11.37 and is down 29.78% year to date. According to analysts at Tip Ranks CURLF stock has a 12-month average price target of $7.93 per share. In this case, this would represent an upside of 25.47% from its last trading price of $6.32.
Cresco Labs Inc.
Cresco Labs is a cannabis corporation with a vertically integrated corporate structure based in the United States. The company currently holds the top spot in the nation for the manufacture of branded cannabis products. Customers in Illinois and Pennsylvania choose the marijuana brand Cresco the most, according to a BDSA study. With 53 retail outlets, 20 manufacturing facilities, and 47 retail licenses, Cresco operates in 11 states. In Pennsylvania, Sunnyside opened its fourth dispensary as part of its growth strategy. According to the company, the Good News product line will be extended to include fresh consumables and vape products. In order to increase profitability by doing away with third-party distribution, the company will switch to owned brand distribution in California.
In August, Cresco reported second-quarter revenue of $218 million, up 4% from the same time last year. The company reported an Adjusted Gross Profit of $116 million, or 53% of revenue, an increase of 8% year over year after adjusting for acquisition-related changes in the cost of goods sold and other non-core items. In the second quarter, Cresco’s adjusted EBITDA increased 11% from the same time the previous year to $51 million, or 23% of revenue. The company kept its position as the top seller of branded cannabis products in the United States thanks to high market share positions in flower, concentrates, and vapes, as well as $95 million in wholesale income.
Once more, Massachusetts, Illinois, Pennsylvania, and Massachusetts had the highest production of branded shares by the firm. Same-store sales grew 6% year over year despite a 22% increase in retail revenue to $123 million, or $2.5 million per average shop open during the quarter. The previously announced all-stock acquisition of Columbia Care by Cresco Labs was also approved on July 8 by Columbia Care shareholders. To complete the acquisition by the end of the year, the corporation is still making great efforts. Cresco, the company’s top-selling primary brand, made its debut in Florida.
CRLBF Stock Performance
CRLBF shares finished on November 11th at $3.37, up 7.32% in the last month. The stock is presently trading in a 52-week price range of $2.39-$10.42, showing a 49.48 percent decline year to date. According to analysts at Tip Ranks CRLBF stock has a 12-month median price target of $7.56 per share. In this case, this represents an upside of 124.33% from its last trading price of $3.37.
Investing And Trading Top Pot Stocks In Q4 2022
Considering a company’s financials and press releases can be extremely useful in determining which companies have the most potential. A company should be extensively researched before investing. If you become proficient with technical indicators and chart patterns, your investing results will improve. Short-term traders may benefit from the current market conditions due to the cannabis industry’s quick local and international growth. You could find it helpful to become familiar with a variety of trading methods during a downturn. You should keep an eye on these top marijuana stocks in November.