Top Cannabis Stocks In 2022
Are you looking for the best marijuana stocks to buy in January 2022? At the current time, much of the cannabis sector is trading near its 52-week lows to start the new year. These declines are mostly related to the delays with federal cannabis legalization in Congress. Now that many cannabis stocks have given back most of the upside since the presidential election in November of 2020, they could be trading at better investment levels.
One area that saw significant declines in 2021 is Canadian marijuana stocks. Because top Canadian cannabis stocks stand to gain a new market from US federal cannabis reform, they have seen the steepest downside in 2021. There are now some Canadian pot stocks that could offer investors an opportunity for either short- or long-term upside. Currently, these Canadian cannabis companies are performing at a higher level than the rest of the Canadian LPs.
As many analysts are forecasting a volatile year in the market it could be time to have some top Canadian cannabis stocks on your watchlist. In the Canadian market, some of the largest cannabis companies are losing market share in Canada. While other companies continue growing rapidly across Canada, the US, and international markets. In 2022 these companies could become some of the industry leaders in the Canadian market in the future.
Investing In Pot Stocks And Becoming A Better Trader
Before investing in cannabis stocks, it’s important to do your own due diligence on a company. Researching a company’s earnings and studying how the stock performs in the market can help you make better returns on your investments. Learning how to find the best setups for your positions is key to becoming a successful trader. In general, many traders use trading tolls and stop losses to analyze a stock’s patterns and minimize any downside to their investments.
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Now in January Canadian cannabis stocks could be primed for a rebound in 2022. Although currently, it seems the cannabis sector has priced in the possibility of not seeing US federal cannabis reform in 2022 it still is a possibility. If a catalyst like US federal legalization occurs, we could see a major rally with top Canadian pot stocks. For this reason, let’s look at 2 top Canadian marijuana stocks for your list in 2022.
Best Canadian Marijuana Stocks For Your 2022 Watchlist
- Village Farms International, Inc. (NASDAQ: VFF)
- High Tide Inc. (NASDAQ: HITI)
Village Farms International, Inc.
In North America, Village Farms International, Inc. and its subsidiaries grow, sell, and distribute greenhouse-grown tomatoes, bell peppers, and cucumbers. Additionally, the corporation is focusing its cannabis and CBD operations in Canada and the United States. Pure Sunfarms, a wholly-owned subsidiary of Village Farms, is one of the largest cannabis businesses in North America. Pure Sunfarms just received a cannabis cultivation license for a delta 2 greenhouse, boosting output capacity by 50%. Earlier this year, Village Farms unveiled a new corporate identity as well as a new website, www.villagefarms.com.
In November, Village Farm released its third-quarter results for 2021, which included another record-breaking quarter for Pure Sunfarms. Pure Sunfarms accounted for $27.4 million of the $31.2 million in cannabis sales, while Balanced Health Botanicals accounted for $3.8 million. Village Farms’ total revenues were accounted for by these two businesses, which accounted for 43 % of the company’s total revenue. The company stated on November 15th that it has purchased 70% of ROSE LifeScience, a Quebec-based company. ROSE is a vertically integrated, branded, and third-party provider specializing in the Quebec market.
VFF Stock Performance
VFF stock closed at $6.01 on January 7th down 6.39% in the last five trading days. Currently, the stock has a 52-week price range of $5.61-$20.32 and is down 40.32% in the past six months. According to analysts at CNN Business VFF stock has a 12-month median price target of $18.23 per share. In this case, this would represent an upside of 203.83%% from its last trading price of $6.01. At the present time, VFF stock could be one of the best Canadian marijuana stocks to buy in 2022.
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High Tide Inc.
High Tide Inc is a cannabis retailer that also manufactures and sells consumption accessories. The companies portfolio includes a top Canadian cannabis store as well as a global manufacturer and distributor of cutting-edge smoking accessories. To begin with, the company created the world’s largest accessories eCommerce platform. High Tide now has 106 branded retail locations around Canada. Blessed CBD was acquired by High Tide in October, and the company is currently approaching the UK market. In November, the company opened its 58th retail cannabis store in Alberta, becoming it the province’s largest provider. Additionally, High Tide completed the acquisition of NuLeaf Naturals, which was the company’s largest acquisition to date.
In addition, the company completed the acquisition of Smoke Cartel Inc and launched the Grasscity brand, which distributes CBD products made from hemp. With the acquisition of Dankstop, a major online retailer, High Tide has continued its rapid development into the US cannabis industry. In the third quarter of 2021, the company reported a 99 percent increase in sales to $48.1 million. As a result, gross earnings increased by 75% to $16.7 million year over year. Adjusted EBITDA for the company is $1.5 million, down from $3.4 million the prior year. The NASDAQ re-listing of High Tide is largely responsible for the change in adjusted EBITDA.
HITI Stock Performance
HITI stock closed on January 7th at $4.59 up 8% in the past five trading days. Currently, the stock has a 52-week price range of $3.00-$13.29 and is down 36.51% in the past six months. According to analysts at Market Beat HITI stock has a consensus price target of $13.31 per share. In this case, this would represent an upside of 190% from its current trading price of $4.29. As we start the second week of 2022 trading HITI could be a top Canadian cannabis stock for your watchlist in 2022.
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