Cannabis Stocks In January 2022
Are you looking for top marijuana stocks to buy while cannabis stocks are down? To begin this week the best pot stocks to buy have continued a downward trend that plagued the cannabis sector for most of last year. One of the main factors that caused this downtrend is the delays with federal marijuana legalization in the US congress. Now that most cannabis stocks have reached new lows it could be time to make a watchlist of the best marijuana stocks for 2022.
One way some investors are taking advantage of the market volatility in the sector is by trading marijuana stocks at lower price points. In general, these stocks have substantial volatility that some active traders take advantage of on a short-term basis. Using day trading and swing trading methods traders can produce gains as pot stocks see price fluctuations in the market.
As it stands marijuana stocks that trade at lower trading levels are high-risk reward investments. But recent declines have left some leading cannabis companies trading near penny stock levels. Penny stocks are any stocks trading under the $5 price point. Other cannabis companies that are ancillary companies have also lost significant ground in the market right now. Some of these ancillary cannabis companies have established a large presence in the global market.
Finding The Best Pot Stocks To Buy In 2022
Before investing in cannabis stocks, it’s important to always do your own due diligence before starting a position. Looking into a company’s finances and studying how a stock performs in the market can help you establish the best positions for your investments. With many analysts predicting a volatile year in the market this could be a good year for the more active traders.
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Learning how to find the best setups and reading a stock’s trading patterns can help you become a successful investor. Because of volatility short term plays could be the best way to take advantage of the market in 2022. For this reason, let’s look at 2 marijuana stocks that could be on your watchlist this month.
Top Marijuana Stocks To Watch For Active Traders
- Ascend Wellness Holdings, Inc. (OTC: AAWH)
- Greenlane Holdings, Inc. (NASDAQ: GNLN)
Ascend Wellness Holdings, Inc.
With assets in Illinois, Michigan, Ohio, Massachusetts, and New Jersey, AWH is a vertically integrated cannabis company. AWH principally owns and operates growing facilities where award-winning strains and a carefully selected variety of products are generated. In general, the business produces and sells Ozone-branded products. Flowers, pre-rolls, concentrates, vapes, edibles, and other cannabis-related things are among the company’s cannabis product categories. AWH presently has 17 retail locations and sells to licensed cannabis retailers. Ascend will expand its vertically integrated footprint in Ohio in October. The company announced the opening of a dispensary in Newton, Massachusetts in November. In December, AWH announced that it had completed the acquisition of Ohio Cannabis Clinic, giving them a second dispensary in the state.
AWH had net sales of $94.4 million in the third quarter of 2021, up 13.2 percent from the previous quarter. The company’s Adjusted EBITDA for the quarter totaled $23.5 million, up 15.9% over the previous quarter. The overall income of $105 million was up 131.4 percent from the previous year. The company had $204.5 million in cash and cash equivalents at the end of the third quarter. Lowell Smokes pre-rolls from Lowell Farms Inc. (OTC: LOWLF) have also been brought to the Massachusetts market by AWH. AWH declared on January 6th that MedMen Enterprises Inc. (OTC: MMNFF) was now in breach of the investment agreement they formed and had continued to fight New York authorities’ jurisdiction.
AAWH Stock Performance
AAWH stock closed on January 18th at $5.65 up 9.50% in the last month. Currently, the stock has a price range of $5.16-$9.21 and is down 46.19% in the last six months. According to analysts at Tip Ranks AAWH stock has a 12-month average price forecast of $12.00 per share. In this case, this would represent an upside of 112.39% from its last trading price of $5.65.
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Greenlane Holdings, Inc.
At the present time, Greenlane Holdings, Inc. is a globally recognized cannabis accessories company. The company primarily sells premium cannabis accessories, child-resistant packaging, and specialty vaporizers in the United States and across the world. Greenlane now serves over 11,000 retail establishments across the world. The merger between Greenlane and KushCo Holdings, Inc. was finalized in 2021. DaVinci, a premier inventor, and manufacturer of premium portable vaporizers is another acquisition reaching completion last October.
On January 4th, Greenlane announced changes to its leadership to simplify and improve its operations. The company saved about $8 million in expenditures in the four months following the KushCo acquisition. The company’s most recent financial numbers show total sales of $41.3 million, up 16 % year over year. Greenlane’s revenues increased to $8.4 million, the second-highest number in the company’s history. Greenlane brand revenues are expected to reach $70-$100 million in 2022 and 2023, according to the business. Greenlane may become one of the world’s largest providers of auxiliary services with the conclusion of its acquisition of KushCo Holdings.
GNLN Stock Performance
GNLN stock closed at $0.84 on January 18th down 9.28% for the trading day. Currently, the stock has a 52-week price range of $0.83-$8.73 and is down 76.07% in the last six months. According to analysts at CNN Business GNLN stock has a 12-month median price target of $5.00 per share. In essence, this would represent an increase of 495.24% from its current trading price of $0.84. This week analysts at Zack’s Equity Research gave GNLN stock a strong sell rating after revising its earnings estimates for the company down significantly.
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