Top Cannabis Stocks For 2022 Watchlist
Are you looking for top marijuana stocks in mid-January? To start 2022 many of the best cannabis stocks to invest in are testing new lows to begin the year. This is mostly due to delays in Congress passing federal cannabis reform in 2021. Since the pandemic, the cannabis industry has grown significantly and continues to expand quickly into new markets. Many leading US MSOs are positioned to create a larger footprint using M&As to do it quickly.
In general, this year many new states will open medical and adult-use cannabis markets across the US. Some of the well-positioned cannabis operators will continue to experience significant growth in the next few years as the market expands. Now that it seems the cannabis sector has priced in the delays with ending prohibition, we could see pot stocks trade on a fundamental basis. This could mean the best performing cannabis companies could be a place to find value in the market.
Specifically, top-tier 1 and tier-2 MSOs have been some of the best performers in the past few years. Although this has not translated into gains in the market it could be showing investors who the leaders of the future US markets will be. One of the top-tier MSOs that’s currently considered the largest and top-performing is Trulieve Cannabis Corp. (OTC: TCNNF) operating 159 locations nationwide. With only a handful of competitors in the top-tier TCNNF stock is one of the best marijuana stocks for your 2022 watchlist right now.
Finding The Top Pot Stocks In Q1 2022
But there are other tier-1 cannabis companies that are showing significant growth potential. Making a list of these top marijuana stocks to watch for 2022 could be a good way to capitalize on the growing cannabis industry. Before investing in cannabis stocks, it’s important to do your research on a company before starting a position. Looking into a company’s earnings and press releases can help you find the best cannabis stocks to buy. In addition, following how a pot stock moves in the market can allow you to establish the best entry points for your investments.
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As top marijuana stocks show some upside in last week’s trading this year could be another year of substantial volatility for the cannabis sector. In general, current pot stock levels could offer the potential for cannabis investors. For this reason, let’s look at 2 top US marijuana stocks for your 2022 watchlist.
Best US. Marijuana Stocks In 2022
- Verano Holdings Corp. (OTC: VRNOF)
- Columbia Care Inc. (OTC: CCHWF)
Verano Holdings Corp.
Verano Holdings is a multi-state cannabis company that provides legal cannabis products to its customers. The company, in general, produces high-quality cannabis products that are offered under a variety of brand names. Verano, for example, has 93 dispensaries and 12 growing and processing facilities spread throughout 11 states. In Florida, the corporation has 41 dispensaries, giving it a significant foothold in the state. Zen LeafTM and MÜVTM, the company’s retail brands, run dispensaries that serve both medicinal and adult-use consumers. In October, the company established a drive-through dispensary on Las Vegas’ Flamingo Road. Verano acquired Carin Nature, LLC and Pharmaceutical Solutions, Inc, both of which have operational dispensaries in Connecticut, in December.
Verano just bought TerraVida and The Healing Center. Because of the deal, Verano now controls six dispensaries in Pennsylvania and has permission to establish three more. Earlier this year, the business opened a flagship dispensary in Pittsburgh with a four-lane drive-through. In November, the company announced $207 million in third-quarter 2021 sales, up 106 percent from the previous year. Furthermore, gross profit increased by 33% sequentially to $133 million, or 64% of revenue, on an unadjusted basis. In Q3, Verano expanded its reach by opening seven additional dispensaries throughout its core markets.
VRNOF Stock Performace
VRNOF stock closed at $12.75 on January 14th up 17.22% in the past month. At the present time, the stock has a 52-week price range of $9.68-$28.00 and is down 20.31% in the past six months. According to analysts at Tip Ranks VRNOF stock has a 12-month average price target of $32.69 per share. In this case, this would represent an increase of 156.39% from its last trading price of 12.75.
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Columbia Care Inc.
Columbia Care Inc. plans to rapidly grow in New York. The business just acquired a 34-acre growing facility on Long Island, giving it one of the largest cannabis footprints on the East Coast. Columbia Care now has 131 sites, including 99 dispensaries and 31 growing and processing facilities, in 18 cities across the United States. In October, the company established its first site in Missouri, a Cannabis Dispensary. The company announced the opening of its third gLeaf dispensary in Virginia earlier this month. According to Columbia Care, heavyweight champion Mike Tyson’s highly anticipated Tyson 2.0 Cannabis brand will also be coming to Colorado. The company announced a rebranding in the Florida market and at its retail sites on December 8th. To start 2022 the company opened its 23rd Cannabist location nationwide in Virginia Beach its 12th in the state.
Columbia Care announced record quarterly revenues of $132 million in the third quarter of 2021, up 144 percent year over year. For the quarter, the company’s adjusted gross profit was $64.5 million, up 205 percent over the previous quarter. In addition, the company set a new high with a 49 percent adjusted gross margin and $31 million in adjusted EBITDA, an increase of 634 percent year over year. Revenue expectations have been raised to $470-$485 million for 2021, with adjusted EBITDA forecasts of $85-$95 million. In September, the state approved the corporation’s request to rename its retail footprint across all 14 of its Florida sites. Columbia Care, the first company in the UK to develop extract vaporization devices, unveiled the UK’s biggest line of medical cannabis extract vape pens on December 14th.
CCHWF Stock Performance
CCHWF stock closed on January 17th at $3.25 up 8.08% in the past five trading days. Currently, the stock has a 52-week price range of $2.71-$7.89 and is down 40.37% in the past six months. According to analysts at Tip Ranks CCHWF stock has a 12-month median price target of $11.16 per share. In this case, this would represent an increase of 243.38% from its last trading price of $3.25.
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