Top Canadian Marijuana Stocks To Watch In 2022
Are marijuana stocks in a better position this year than back in 2021? With much to be seen in 2022, many are worried that marijuana stocks will have a repeat year. Meaning there is fear that the cannabis sector will see more downward trading. Now the bulk of this concern is rooted in the idea of federal reform does not pass this year. Yet even if prohibition doesn’t end or cannabis banking doesn’t advance there is still much that can help with better trading.
Yes by not ending cannabis prohibition it does cause more difficulties. However, the overall growth and progress of the industry are excelling at a fast pace. Yet back in 2021 these achievements led to little or no momentum at all. Back in 2021, many cannabis stocks were able to show solid earnings. From M&A to opening new dispensaries and seeing an increase in sales and product demand. Now for some cannabis stocks, this progress did help to see small spikes. But it was nothing that most marijuana stocks were able to keep going.
Marijuana Stocks Look To Gain More Momentum In 2022
With so much happening throughout the sector, it comes as a shock that federal reform has left many cannabis stocks to stagnate. When we say stagnate meaning little to no upward trading. However, with 2022 just starting we have a whole year ahead to see what will happen. This year we may see more states vote to legalize cannabis. As well new laws and companies that merged back in 2021 have started to become operational. 2022 has the potential to be a turning point for the cannabis industry in its entirety. So with this make sure you keep watch and do your research as you search for the best marijuana stocks to buy. Below are a few cannabis stocks to keep an eye on right now in 2022.
Top Canadian Marijuana Stocks To Right Now
- Canopy Growth Corporation (NASDAQ:CGC)
- OrganiGram Holdings Inc. (NASDAQ:OGI)
Canopy Growth Corporation
Canopy Growth Corporation together with its subsidiaries, engages in the production, and distribution, of cannabis and hemp. In addition to the sale of cannabis and hemp-based products. Which are meant for recreational and medical purposes primarily in Canada, the United States, and Germany. It operates through two segments, Global Cannabis and Other Consumer Products. At the start of December, CGC stock was starting to slowly reach higher market levels. From the 1st of December, the 8th shareholders saw this Canadian stock rise.
When CGC stock began to recover some shareholders took advantage and were able to take profits before dipping back down. The month of December was a bit volatile and ended on a downside for the CGC stock. However, to start 2022 came with a boost in trading momentum. This current momentum has helped CGC stock see a rise in trading. Now, will CGC stock be able to sustain this rise before possibly facing some pullback?
Nevertheless, investors are keeping an eye on this top Canadian marijuana stock to watch. In recent news, the company announced the release of its Environmental, Social, and Governance (ESG) Report. This report is from the calendar year 2020. As well as qualitative details on some key activities that occurred in 2021. The Report recognizes Canopy’s current progress and describes its priorities. As well as its approach to ESG as part of its long-term path towards responsible and sustainable growth.
Words From The Company
“As the cannabis industry becomes more established, we recognize the role we must play to ensure that progress is achieved responsibly and sustainably,” said David Klein, CEO Canopy Growth. “We are committed to realizing our vision of unleashing the power of cannabis to improve lives and our inaugural ESG report is the next step in our leadership journey, creating accountability for ourselves, and the cannabis industry.”
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OrganiGram Holdings Inc.
OrganiGram Holdings Inc. through its subsidiaries produces and sells cannabis and cannabis-derived products in Canada. It offers medical cannabis products, including cannabis flowers, cannabis oils, and vaporizers. The company is known as one of the more popular Canadian marijuana stocks to watch. In the last month or so OGI stock has seen a bit of an increase in trading. During the month of December OGI stock was incredibly volatile. This wasn’t all bad as this volatility did help OGI stock to see better levels of trading.
In the first week of December OGI stock went from $1.90 a share to $2.07 on the 8th. This jump allowed shareholders to take profits. Even though it may not have been a large return. Especially with how low the sector has been any time to take some gains is always a plus. For much of December this up and down pattern of trading continued to take place. This is still happening right now and at the momentum, OGI stock is up in 2022. As the new year is just getting started hopefully OGI stock will be able to sustain this upward push for a longer period of time.
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The company is set to release its most current financials. On the 11th of January OrganiGram will release its Q1 2022 fiscal results. The year is just starting and so far many companies have produced promising financials. What this does is show people even in a down market progress is still being made. This success can be profitable down the road outside of the market which can possibly help OGI stock at a later point in time.
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