Top Marijuana Stocks For April 2022
Marijuana stocks trade in a volatile and unpredictable sector. Back in 2020 and early 2021 many marijuana stocks were showing consistent upward trading. This was due to major speculation and more people trading marijuana stocks from a fundamental standpoint. During this time when a company would have progressive news, it will add some upward trading momentum. Many felt that from 2020 to February 2021 that marijuana stocks would continue to trade up. Yet after early 2021 things began to change in a major way.
The cannabis sector after mid-February started to trade down the whole year. Even with small upticks, they were mostly short-lived, and not many cannabis stocks could see better trading. Most of these marijuana stocks that felt the majority of this downtrend were MSOs and pure-play companies. Now there were a few ancillary marijuana stocks that were able to see better trading regardless of the rest of the sector. Mainly because ancillary marijuana stocks don’t just rely on the cannabis industry to remain profitable.
Nevertheless, 2021 was not a good year for marijuana stocks. However, outside of the market, a lot of growth and building occurred. A lot of cannabis companies even in a down market were able to expand operations. For example, Truelove Cannabis Corp. has been able to open new retail locations and add new products to the shelf in that time. As well as other companies doing the same which adds more value to the company.
Marijuana Stocks To Watch In Right Now In 2022
Currently in 2022 many are just now starting to see these ventures start to surface. Hopefully, with continued success, this will add to the current uptick in trading. Also, this past month cannabis companies began to release their earnings. Some marijuana companies were able to produce record-breaking results for the quarter and full 2021 year. So with this many are keeping watch to see what will unfold this upcoming week. Especially with the push for federal cannabis reform. Many feel it will be a week of increased trading or at the very least momentum which can lead to marijuana stocks reaching higher market levels.
Top Marijuana Stocks For Your 2022 Watchlist
- Cresco Labs Inc. (OTC:CRLBF)
- Planet 13 Holdings Inc. (OTC:PLNHF)
- GrowGeneration Corp. (NASDAQ:GRWG)
Cresco Labs Inc.
Cresco Labs Inc. together with its subsidiaries cultivates, manufactures, and sells retail and medical cannabis products in the United States. On March 23rd Cresco released its Q4 and full 2021 year earnings report. Some key mentions for Q4 are a record revenue of $218 million. Which for the company is up 34% year-over-year. Following this Cresco saw a record fourth-quarter adjusted EBITDA1 of $57 million an increase of 90% year-over-year.
Also, wholesale revenue of $101 million, maintained the position as the #1 seller of branded cannabis products in the U.S. With a leading share in the flower, concentrates, and vape categories. Retail revenue increased 10% sequentially, to $117 million, an average of $2.8 million per store. As well same-store sales increased 28% year-over-year, 1% sequentially. Some full 2021 year highlights are a record revenue of $822 million, an increase of 73% year-over-year.
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Planet 13 Holdings Inc.
Planet 13 Holdings Inc. an integrated cannabis company, engages in the cultivation, production, distribution, and marketing of cannabis and cannabis-infused products for medical and retail cannabis markets in Nevada, the United States. On March 28th the company released its Q4 and full 2021 results. Highlights for this time are Q4 2021 revenue of $29.9 million, up 48% compared to Q4 2020. Next, full-year 2021 revenue of $119.5 million, up 70% compared to full-year 2020.
Following this for the full 2021 year, gross profits reached $66.0 million or 55.2% as compared to $35.1 million or 49.8%. However, in more recent developments, the company announced it has received an exemption for filing restated interim financial reports. In the last 3 weeks of trading PLNHF stock has begun to sustain better all-round trading. From March 15th to the close on the 1st of April, this marijuana stock is up 38 percent. With a new week soon to begin, it’s possible that PLNHF stock continues to trade up.
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GrowGeneration Corp.
GrowGeneration Corp. through its subsidiaries owns and operates retail hydroponic and organic gardening stores in the United States. In recent news, the company released its record Q4 and full-year 2021 results. At this time the company saw a record revenue of $422.5 million for the full 2021 year. Plus an Adjusted EBITDA of $34.5 million in 2021. Revenues also increased 46% to $90.6 million in the fourth quarter.
Net income for the full year was $12.8 million, compared to the prior year’s net income of $5.3 million. Yet the company saw a net loss for the fourth quarter of $4.1 million. Which is compared to a net income of $1.5 million in the prior year. The company is expecting the full year 2022 revenue in the range of $415 million to $445 million. Along with an adjusted EBITDA of $30 million to $35 million. Furthermore, the Company plans to open 15 to 20 new GrowGeneration garden centers in 2022.
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