Top Cannabis Stocks For Your 2022 Watchlist
Are you looking for top marijuana stocks to invest in before 2022? This year the cannabis sector has seen significant declines in the fourth quarter. This is mainly because federal cannabis reform was not passed in 2021. But this has created an opportunity for new investors to invest in the cannabis industry for next year. In the US and across the world the cannabis market is growing rapidly as new states and countries establish legal cannabis markets.
Although in the US delays with federal marijuana legalization have negatively affected top cannabis stocks in 2021 the last couple of years have seen substantial growth on the state level. In addition, many leading cannabis companies also delivered strong revenue growth in 2021 and have expanded rapidly across the growing industry. One area that suffered significant declines in 2021 is ancillary marijuana stocks. In general, ancillary cannabis companies are those companies that support the cannabis industry without dealing directly with the actual plant.
Many of these companies are well-positioned to see significant growth as the industry continues to expand across the US. One area that could have substantial potential for the next few years is ancillary companies that supply hydroponic, lighting systems, and organic nutrients to the cannabis industry. As the demand for cannabis continues to grow these companies will supply the necessary equipment to grow cannabis.
Finding The Top Pot Stocks To Invest In Before Q1 2022
Before investing in pot stocks, it’s always important to do your research on a company before establishing a position. Looking into a company’s financial results and press releases can help you find the best marijuana stocks to invest in for 2022. Also analyzing how a cannabis stock performs in the market can allow you to establish the best entry point for your investments. Making a watchlist of top marijuana stocks for 2022 is a good way to keep track of a stock’s movements and can help you establish the best returns on your investments. Let’s look at 2 top ancillary marijuana stocks for your list in 2022.
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Best Ancillary Marijuana Stocks For Your Watchlist Right Now
- Hydrofarm Holdings Group, Inc. (NASDAQ: HYFM)
- GrowGeneration Corp. (NASDAQ: GRWG)
Hydrofarm Holdings Group, Inc.
Hydrofarm Holdings Group, Inc. is a prominent distributor and manufacturer of hydroponics and controlled environment agriculture equipment and supplies. The company’s main assets are cannabis-growing equipment and supplies. High-intensity grow lights, temperature control systems, and growth materials are among the company’s goods. Aside from a wide choice of unique and imaginative branded things. In November, the business announced that it had completed the purchase of Innovative Growers Equipment, Inc.
In the third quarter of 2021, Hydrofarm recorded net sales of $123.8 million, up 28.1 percent year over year. The gross profit for the corporation increased to $30 million, or 24.2 percent of net sales. As a result, the company’s Adjusted EBITDA improved by 116.7% to $16.1 million year over year. In addition, the business reaffirmed its prior net sales target for 2021 of $470-$490 million. Aurora Innovations and Greenstar Plant Products, Inc. were also bought, according to the business. This purchase is part of Hydrofarm’s continuous effort to acquire branded product manufacturers in key CEA areas.
On December 23rd, HYFM stock finished at $28.32, down 21.96% in the last month. The stock is down 46.14% year to date, with a 52-week price range of $24.35-$95.48. HYFM stock has a 12-month average price forecast of $49 per share, according to CNN Business analysts. This would be a 73.02% increase over the previous trading level of $28.32.
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GrowGeneration Corporation
In the United States, GrowGeneration Corp. is a significant owner and operator of retail hydroponic and organic gardening stores. The company provides and distributes organics, lighting, and hydroponic equipment to cannabis farmers, among other products. GrowGen presently has 62 organic garden centers in 13 states, with the 11th and 12th locations launching recently in southern California. The company has been focusing on its digital presence since the launch of GrowGeneration.com. The site presently functions as a one-stop e-commerce shop with over 10,000 goods ranging from nutrition to lighting technologies. The organization intends to have over 100 outlets in the United States within the next five years. During the third quarter, the company announced the opening of the largest hydroponic garden facility in Los Angeles County.
In November, GrowGen announced record third-quarter sales of $116.0 million, up 111% year over year. The company achieved $10.8 million in Adjusted EBITDA in the third quarter. In addition, same-store sales climbed by 15.7% year over year. As a result, GrowGen earned $0.07 per share in the third quarter. The full-year forecast for 2021 has been lowered to $435-440 million.
The stock of GRWG closed at $13.60 on December 23rd down 23.42% in the last month of trading. GRWG stock has a 52-week price range of $12.41-$67.75 and is down 66.19% year to date. GRWG stock has a 12-month median price forecast of $31 per share, according to Tip Ranks analysts. In this case, this would represent an upside of 127.94% from its last trade price of $13.60.
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