Top-Performing Cannabis Stocks from Last Week
The cannabis market faced significant challenges last week, yet certain marijuana penny stocks emerged as top gainers despite the downturn. These stocks demonstrated resilience in a tough environment, highlighting their potential for savvy investors. The US cannabis industry continues to expand, boasting a projected market value of $72 billion by 2030. This growth is fueled by increasing state-level legalization and robust consumer demand for both medical and recreational cannabis. Recently, discussions surrounding federal legalization gained momentum, with lawmakers revisiting key proposals to reform cannabis regulations. For investors, this news underscores the sector’s long-term opportunities despite current volatility.
To capitalize on these opportunities, it’s crucial to employ technical analysis and maintain proper risk management. Technical analysis can help identify entry and exit points, providing an edge in a volatile market. Simultaneously, risk management safeguards portfolios from unexpected losses, ensuring sustainability. By monitoring support and resistance levels, and diversifying positions, investors can better navigate this dynamic industry.
The recent failure of Amendment 3 in Florida has created a significant pullback in US marijuana stocks. This market downturn offers potential entry points for investors eyeing companies with strong fundamentals. Below are three top marijuana stocks to consider during this correction: Acreage Holdings Inc. (ACRHF), WM Technology Inc. (MAPS), and Jushi Holdings Inc. (JUSHF). These companies demonstrate resilience and growth potential, making them noteworthy in the cannabis industry.
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- Acreage Holdings Inc. (OTC: ACRHF)
- WM Technology Inc. (NASDAQ: MAPS)
- Jushi Holdings Inc. (OTC: JUSHF)
Acreage Holdings Inc.
Acreage Holdings is a prominent cannabis operator with a strong presence in multiple states. The company operates dispensaries in states such as New York, New Jersey, and Pennsylvania. These markets are crucial due to their large population and growing acceptance of cannabis. Acreage Holdings currently operates 30 dispensaries nationwide, targeting medical and recreational consumers. The company is well-positioned to capitalize on new market openings, especially in states advancing legalization.
Recent financial results reflect Acreage’s strategic focus on improving profitability. In the last quarter, the company reported revenues of $55.9 million, a 7% year-over-year increase driven by its core markets. Gross margin improved to 50%, reflecting operational efficiencies and better product mix. However, net losses widened slightly due to expansion efforts and increased marketing expenses. Acreage’s management remains optimistic about long-term profitability, emphasizing cost controls and premium product launches.
Despite setbacks in Florida, Acreage Holdings’ expansion strategy in key markets provides a strong growth trajectory. The company’s focus on efficiency and expanding consumer demand could offer investors attractive returns. As the cannabis industry evolves, Acreage Holdings remains a company to watch, particularly for long-term investors.
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WM Technology Inc.
WM Technology, popularly known as Weedmaps, is a technology company serving the cannabis sector. The company connects consumers with dispensaries through its robust online platform and mobile app. Weedmaps dominates the US cannabis tech space, operating in states with mature cannabis markets like California and Colorado. The platform supports thousands of dispensaries, offering a vital service in an increasingly digital world.
WM Technology’s latest financial report highlighted challenges but also showcased areas of resilience. Quarterly revenues reached $50.9 million, representing a 6% decline year-over-year due to weaker advertising demand. The company posted a gross profit margin of 91%, underscoring its scalable business model. However, net losses widened to $10.5 million as WM Technology invested heavily in platform enhancements. Management remains optimistic, projecting a rebound in revenue as dispensaries adjust to market conditions.
Despite the financial headwinds, Weedmaps continues to dominate its niche. Its strong presence in mature cannabis markets and expanding digital solutions position it well for future growth. As legalization advances and more states enter the market, WM Technology could experience renewed demand for its services. For investors seeking exposure to cannabis through ancillary companies, WM Technology offers a compelling opportunity.
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Jushi Holdings Inc.
Jushi Holdings is a vertically integrated cannabis company with a growing footprint in the US market. The company operates dispensaries under the BEYOND/HELLO brand, recognized for its premium consumer experience. Jushi is most active in Pennsylvania, Illinois, and Virginia, where it operates 41 dispensaries. These states provide significant revenue opportunities due to their expanding medical and recreational markets.
Jushi reported quarterly revenues of $66.4 million in its most recent financial results. This reflected a 17.6% increase year-over-year, driven by higher retail sales and improved cultivation yields. Gross profit reached $27.2 million, representing a margin of 41%, despite inflationary pressures. However, Jushi also reported a net loss of $14.3 million, attributed to expansion-related expenses and regulatory compliance costs. The company is optimizing operations to achieve sustainable profitability in the coming quarters.
Jushi Holdings remains a strong contender in the cannabis sector due to its strategic positioning in high-growth markets. Its dedication to premium products and retail experiences differentiates it from competitors. As regulatory landscapes shift and consumer demand rises, Jushi Holdings is poised for long-term success. This recent pullback offers a potential entry point for investors seeking growth in the cannabis industry.
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The failure of Amendment 3 in Florida has created a unique buying opportunity for investors in the cannabis space. Acreage Holdings, WM Technology, and Jushi Holdings stand out as companies with strong market presence and growth potential. These stocks expose different facets of the cannabis industry, from cultivation and retail to technology and infrastructure. As the sector rebounds, these companies could lead the charge, making them top picks for watchlists.
MAPH Enterprises, LLC | (305) 414-0128 | 1501 Venera Ave, Coral Gables, FL 33146 | new@marijuanastocks.com
