Top Cannabis Stocks And December Declines
If you’re looking for top marijuana stocks to buy December has delivered some of the lowest pot stocks prices seen this year. As cannabis investors continue to experience downside in most of the best cannabis stocks this could be a good opportunity for new investors. Although delays in establishing federal cannabis reform have caused declines in the best pot stocks to invest in these leading cannabis companies have seen significant revenue growth in 2021.
As the US continues to see more states establish medical and recreational markets the industry is growing rapidly. This has allowed leading cannabis companies to expand into new markets and deliver strong earnings throughout 2021. In the US there are many companies that are using M&As to rapidly grow their footprint in the US. For the past few years, US cannabis companies are some of the bests positioned for growth in the cannabis industry.
With marijuana stock prices reaching the lowest levels of 2021 in December it could be time to make of watchlist of the top pot stocks for 2022. Before investing in cannabis stocks, it’s important to do your own research to find the best-performing companies. Looking into a company’s financials and press releases can help you find leading companies. In addition, following how a stock performs in the market can help you establish the best entry point for your investment.
US Pot Stocks And Analysts Forecast For 2022
To close this week some of the top cannabis stocks have substantial upside according to expert analysts. Finding these pot stocks at lower trading values may allow you to produce significant gains in the future. As we close out another volatile week for pot stocks let’s look at 2 top marijuana stocks to watch before 2022.
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Top Cannabis Stocks For Your 2022 Watchlist
- Green Thumb Industries Inc. (OTC: GTBIF)
- Ayr Wellness Inc. (OTC: AYRWF)
Green Thumb Industries Inc.
At the present time, Green Thumb Industries Inc. is a leading cannabis consumer packaged goods company with a major presence in the US cannabis market. Green Thumb currently has 68 retail locations in 13 states, with its third store recently opening in New Jersey. GTI currently holds licenses for 111 retail locations with plans to expand. Through an exclusive partnership with the privately-owned Cookies Brand, GTI launched a Cookies on the Las Vegas Strip in 2021. Green Thumb also announced the completion of its acquisition of Dharma Pharmaceuticals and its entry into the Virginia cannabis industry.
Green Thumb reported revenue of $233.7 million for the third quarter of 2021 in November, increasing 48.7% year over year. This is the fifth quarter in a row that the company has generated a positive GAAP net income of $20.2 million, or $0.08 per diluted share. Furthermore, adjusted operating EBITDA increased to $81.2 million, or 34.7 percent of revenue. Green Thumb had $285.8 million in cash at the end of the third quarter. Expanded distribution of Green Thumb branded products and increased traffic in the 68 functioning dispensaries propelled the company forward.
GTBIF stock closed on December 16th at $19.41 down 11.77% in the past five trading days. Currently, the stock has a 52-week price range of $18.40-$39.11 and is down 20.78% year to date. According to analysts at CNN Business GTBIF stock has a 12-month median price target of $44.36 per share. In this case, this would represent an upside of 128.52% from its last trading price of $19.41.
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Ayr Wellness Inc.
Ayr Wellness Inc. is a cannabis company with a large presence in Florida. The company currently has 42 dispensaries in Florida and a total of 59 outlets around the country. In addition, Herbal Remedies Dispensaries, LLC was acquired, allowing the company to access the Illinois market. Ayr was granted a provisional license to sell adult-use cannabis in Massachusetts dispensaries. Kynd premium flower was released in Arizona in October. In Pennsylvania, the company also opened its sixth associated functioning dispensary. Ayr gained approval to open its 86,000 square foot Arizona growing and production plant in December.
Ayr reported profitability for the third quarter of 2021 in November, with revenue of $96.2 million, increasing 111% year over year. In general, the company’s adjusted EBITDA increased by 40% year over year to $26 million. Ayr had an operating loss of $8.9 million under US GAAP, which included a one-time charge of $34.9 million and non-operating adjustments of $8.9 million. In addition, the company forecasted over a 10% sequential increase in Q4 2021 and a flat Adjusted EBITDA from Q3 to Q4. Ayr’s adjusted EBITDA objective for 2022 has been lowered to $250-$300 million, while its revenue target has remained unchanged at $800 million.
AYRWF stock closed on December 16th at $12.84 down 41.15% in the past month. Currently, the stock has a 52-week price range of $12.30-$37.50 and is down 46% year to date. According to analysts at Tip Ranks AYRWF stock has a 12-month average price target of $41.94 per share. In essence, this would represent an upside of 226.64% from its last trading price of $12.84.
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