Are Marijuana Stocks A Buy Before September? 2 Ancillary Pot Stocks For Your List

Top Cannabis Stocks For September 2022

What are the top marijuana stocks to buy in 2022? In July and August, momentum increased for the best cannabis stocks to invest in. One industry that has seen significant declines since the start of the year is the ancillary marijuana stock market. Ancillary cannabis companies are businesses that provide services to the cannabis sector without actually dealing with the plant. In general, a wide range of businesses back the cannabis industry.

A few cannabis-related stocks with Nasdaq listings saw a sharp decline in value over the first half of 2022. Investors can currently buy a number of these ancillary marijuana stocks at much lower price points. In general, Some of these stocks could offer investors a starting point for long-term cannabis investments or an opportunity to profit from recent market fluctuations. Many analysts believe that the stock market has finally reached its bottom and will soon start to rise once more. These two marijuana stocks can be added to your watchlist. They are the two who have performed the best in August.

[Read More] 2 Marijuana Stocks To Buy Before September Begins?

Top Ancillary Marijuana Stocks For Watchlist In September

  1. GrowGeneration Corp. (NASDAQ: GRWG)
  2. Agrify Corporation (NASDAQ: AGFY)

GrowGeneration Corporation

GrowGeneration Corp., a US-based business, is well known for managing and providing hydroponic and organic growing facilities. The business provides a range of organic, lighting, and hydroponic alternatives for cannabis growers. GrowGen currently owns and operates 62 organic gardening enterprises in the US. Since’s debut, the company has focused on growing its internet visibility. With over 10,000 products ranging from nutrition to lighting technology, the website has developed into a one-stop e-commerce destination. Over the next five years, the business wants to open more than 100 outlets around the US. The business built the biggest hydroponic garden facility in Los Angeles County during the third quarter of 2021.GRWG

GrowGen released its second quarter 2022 financial results on August 4 to the general public. Net sales during this time period decreased by 44 percent, to $71.1 million, as a result of a reduction in industry demand. Comparable store sales decreased by 56.9% over the quarter. The company reported a net loss of $136.4 million, which included a $127.8 million impairment charge for goodwill and other intangibles, as opposed to a net gain of $6.7 million the year before. Notable is the company’s choice to reduce its projected revenue for 2022 from a range of $340 to $400 million to $250 to $275 million. GrowGeneration introduced Drip Hydro, a line of liquid fertilizer mixtures intended for commercial planters, in May.

GRWG Stock Performance

On August 29th, the shares of GRWG finished at $4.84, almost flat in the last month of trading. GRWG stock is down 62.91% year to date, with a 52-week price range of $3.42-$32.97. According to CNN Business analysts, GRWG stock has a 12-month median price target of $5.13 per share. This would forecast a 5.67 percent decrease over the last transaction price of $4.84.

[Read More] Best Marijuana Stocks For Your September Watchlist Right Now

Agrify Corporation

The American company Agrify Corporation offers accurate machinery and software to the indoor farming sector. The business currently offers vertical farming systems, integrated grow racks, and LED grow lights. Modern software and technology solutions from Agrify let companies operate at the highest levels of reliability, effectiveness, and quality while spending the least amount of money possible. The company’s services include consulting, engineering, and construction. Precision Extraction Solutions and Cascade Sciences, two renowned providers of tools and services for processing, analyzing, and extracting cannabis and hemp, were recently acquired by the business. The business acquired Lab Society in February, a pioneer in cannabis extraction, distillation, and solvent separation solutions with a $10 million yearly turnover. Lab Society, a pioneer in cannabis extraction, distillation, and solvent separation solutions with a $10 million yearly turnover, was acquired by the company in February.

Revenue for the second quarter was up 63.5% year over year at $19.3 million, according to Agrify. In addition, revenue increased by 140.8% from the prior year’s year-to-date period of $18.8 million to $45.4 million for the current year-to-date period. The second quarter’s gross profit was $1.6 million, or 8.3% of revenue, up from the first quarter’s gross profit of $527 thousand, or 4.5% of revenue. Compared to a net loss of $5.6 million, or $0.28 per diluted share, in the same quarter last year, the company saw a net loss of $93.4 million, or $3.51 per diluted share, during the second quarter. Due to the decline in the cannabis sector, the company is revising its revenue projection for the upcoming fiscal year 2022. Agrify’s new revenue projection for Fiscal Year 2022 is between $70 million and $75 million.

AGFY Stock Performance

AGFY stock closed on August 29th at $0.73 down 17.83% in the last five days of trading. The stock has a price range of $0.70-$30.29 and is down 92.06% year to date. According to analysts at CNN Business AGFY stock has a 12-month average price target of $1.50 per share. In this case, this would be an increase of 105.45% from its last trading level of $0.73.

[Read More] 3 Marijuana Stocks To Watch Before Next Week Begins

Trading Pot Stocks For September 2022

During last month’s trading sessions, the top cannabis stocks hit new lows; when they begin to rebound, investors may find value in the stocks. You can check a company’s financial records and news releases to see if an asset is suitable for your trading strategy and portfolio. Understanding technical indicators and chart patterns can help you make better trading decisions. The current cannabis market volatility may present a chance for short-term gains for active traders in September.

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