Top Cannabis Stocks And Thee Current Market Downturn
Are you looking for the top marijuana stocks to buy as the market remains volatile? Long-term investing becomes difficult in a market climate like this one, where gains appear to be followed by bigger losses. Trading short-term is one way to profit from the current market volatility. Cannabis penny stocks are typically the cannabis stocks to buy with the highest risk-reward ratios.
During the Jackson Hole Meeting, the market as a whole experienced a significant reversal that could signal more decline. The question at hand is whether the top marijuana stocks will see more declines. The cannabis sector has typically suffered significantly as a result of delays in US federal cannabis regulation. The recent increase in the top cannabis stocks is actually a result of increased efforts to pass legislation ending federal cannabis prohibition.
The US cannabis industry, which generates billions of dollars a year, has been harmed by delays in federal cannabis law. In July, as the top cannabis stocks hit new lows, the market started to rebound. By taking advantage of the sector’s rebound, investors may be able to benefit from the market’s current momentum. Here are the 3 top marijuana stocks to keep an eye on in September.
[Read More] Best Cannabis Stocks To Watch For Q4 2022
Best Marijuana Stocks For September 2022
- Curaleaf Holdings, Inc. (OTC: CURLF)
- Jushi Holdings Inc. (OTC: JUSHF)
- Goodness Growth Holdings, Inc. (OTC: GDNSF)
Curaleaf Holdings, Inc.
Curaleaf Holdings, Inc., a multi-state cannabis merchant with 136 retail locations in the United States, manufactures packaged cannabis products. A fully owned subsidiary of Curaleaf International, Adven GmbH, is now marketing medical marijuana products in Germany. One of the most well-known brands in the country is Curaleaf’s Select. Curaleaf acquired Tryke Companies in November in order to expand into three more states. Currently, Utah, Nevada, and Arizona are included in the firm’s holdings. At the end of July, the firm unveiled its 51st location in Florida. According to Curaleaf, Matt Darin apparently took over as CEO in May.
In the second quarter of 2022, the company’s revenue increased by 8% yearly and sequentially to $338 million. Additionally, to reach $86 million in the second quarter of 2022, Adjusted EBITDA improved sequentially by 18% and annually by 2%. At the conclusion of the second quarter, the company had 135 total sites, added seven more retail dispensaries, and served almost 2,200 wholesale partner clients. The gross profit from cannabis sales in the second quarter of 2022 increased from $155 million in the corresponding period of 2021 to $175 million in 2022. The second quarter of 2022 had a $28 million net loss attributable to Curaleaf Holdings, Inc., as opposed to a net loss of $5 million in the second quarter of 2021.
CURLF Stock Perforrmance
On August 26th CURLF shares closed at $6.25, up 5.06% in the past five days of trading. The stock is currently trading in a 52-week range of $4.79-$12.85 and is down 30.78% year to date. According to analysts at Tip Ranks CURLF stock has a 12-month average price target of $9.25 per share. In this case, this would represent an upside of 48% from its last trading price of $6.25.
Jushi Holdings Inc.
Jushi Holdings Inc. is a marijuana and hemp company that is growing its market share in the American medical and recreational marijuana markets. The company’s major objective is to provide a variety of branded marijuana and hemp-derived products to the US market. The BEYOND/HELLO brand is used by 34 Jushi-operated dispensaries around the nation. Additionally, Jushi has 31 retail licenses in the US, and Beyond/Hello, its national cannabis dispensary brand, is growing both online and offline. By acquiring NuLeaf Inc. in April, the company was able to extend its vertically integrated operations into Nevada.
Jushi’s revenue rose by 48.5 percent to $61.9 million in the first quarter of 2022. Another encouraging development for the company was a rise in adjusted gross profit, which rose by 33.1 percent year over year to $25.5 million. For the first quarter, the company reported a net loss of $14.3 million. At the conclusion of the quarter, the business had $76.2 million in cash and cash equivalents, and its adjusted EBITDA, or 1.7 percent of revenue, was $1.1 million. The Bank and Sèchè flower strains were the first cannabis goods and brands offered by the company in Massachusetts during the first quarter of 2022. Jushi released a number of products using hydrocarbon extraction in June, expanding its assortment of The LabTM vape and concentrate alternatives.
JUSHF Stock Performance
JUSHF stock closed at $1.96 on August 26th down 12.64% in the last five days of trading. Currently, the stock has a 52-week price range of $1.31-$5.53 and is down 39.69% year to date. According to analysts at Tip Ranks JUSHF stock has a 12-month average price target of $3.00 per share. In this case, this represents an upside of 53.03% from its last trading price of $1.96.
Goodness Growth Holdings, Inc.
Goodness Growth Holdings, Inc. is a cannabis and intellectual property company dedicated to promoting engineering, science, and technology. A division of Goodness Growth called Resurgent Biosciences wants to enter the realm of clinical psychedelic research. The company currently runs 18 retail dispensaries across the country. Before changing its name, Goodness Growth had four cannabis licenses in Nevada. Goodness will be able to produce cannabis for Nevada’s medicinal and recreational markets because of these permits. According to the company, the Maryland-based Charm City Medicus Dispensary was completed on November 22. This deal strengthens Goodness’ position in the Maryland medical cannabis industry.
Goodness generated $21.1 million in total revenue during the second quarter of 2022, up 34.9 percent from the first quarter and 48.2 percent from the second quarter of 2021. In particular, the Company’s markets in Maryland, Minnesota, and New Mexico were the main drivers of the overall revenue increase of 62.7 percent year over year. Gross profit this quarter was $10.4 million, or 49.2% of revenue, compared to $6.9 million in Q2 of last year, or 48.6% of revenue.
According to the accompanying non-GAAP reconciliation, EBITDA was $1.1 million in Q2 2022 as opposed to a loss of $2.4 million in Q2 2021. Adjusted EBITDA was $2.3 million in Q2 2022 as opposed to a loss of $1.0 million in Q2 2021. The business experienced a net loss of $6.2 million in Q2 2022 as opposed to a loss of $7.0 million in Q2 2021. The company and Verano Holdings Corp. (OTC: VRNOF) formally agreed to the $413 million purchase in February.
GDNSF Stock Performance
On August 26th, GDNSF stock closed at $1.44, up 23.08% in the last five trading days. The stock is currently trading in a 52-week price range of $0.98-$2.65 and is down 15.79% year to date. GDNSF stock has a median price target of $2.33 which would represent a 61.84% increase from its last trading price of $1.44.
Making Better Trades During Volatile Markets
Examining a company’s financials and press releases might help you significantly when trying to identify the companies with the strongest potential. A thorough examination of a company is necessary before selecting a position. Your investing profits can increase if you improve your use of technical indicators and chart patterns. Short-term traders may profit from the current market conditions given the cannabis industry’s quick local and international expansion. You could find it useful to become familiar with a variety of trading tactics during a downturn. These might be some of the best marijuana stocks to add to your watchlist for September 2022.
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