Top Cannabis Stocks And Possible Catalysts In December
Are you looking for the best marijuana stocks to buy before December? On Black Friday most of the cannabis sector saw some downside due to renewed concerns about Covid-19 and a new variant found in Africa. In general, November has seen an increase in market volatility for top cannabis stocks. This is partly because of a bipartisan push to establish federal cannabis reform this month in Congress.
One potential legislation the SAFE Banking Act is attached to the NDAA and could continue its way through the Senate. Although some Democratic leaders prefer to pass cannabis legalization and decriminalization before banking reform their delays with getting this done have caused severe downside for top pot stocks. But these lower trading levels could be an opportunity for investors to establish positions in the cannabis sector at lower values.
At the present time, the cannabis industry has been growing rapidly on the state level since the pandemic. As new states continue to establish cannabis markets the next five years could see substantial market growth. In 2021 these leading cannabis companies have delivered strong earnings with significant revenue growth. Unfortunately for investors, this has not translated into gains in the market. It seems without any action from Congress the cannabis sector will not gain significant upside in the market.
Investing In The Best Pot Stocks Before 2022
At current trading, levels top marijuana stocks could produce substantial gains according to analysts. Before investing in cannabis stocks, it’s important to always do your research on a company. Looking into a company’s financials and following how the stock moves in the market can help you establish the best returns. Learning how to analyze chart patterns and using technical analysis can help you become a successful trader. Let’s look at 3 of the best US marijuana stocks to add to your watchlist before December 2021.
Best US Marijuana Stocks To Watch Right Now
- Green Thumb Industries Inc. (OTC: GTBIF)
- TerrAscend Corp. (OTC: TRSSF)
- Columbia Care Inc. (OTC: CCHWF)
Green Thumb Industries Inc.
Green Thumb Industries Inc. is a leading cannabis consumer packaged company that has established a large footprint across the US cannabis industry. At the present time, Green Thumb has 65 retail locations across 13 states and recently opened its third store in New Jersey. Currently, GTI has licenses for 111 retail locations for future expansions. In 2021 GTI opened a Cookies on the Las Vegas Strip through an exclusive partnership with the privately-owned Cookies Brand. Additionally, Green Thumb announced it closed the acquisition of Dharma Pharmaceuticals and is entering the Virginia cannabis market as well.
In November Green Thumb Reported third quarter 2021 results with revenue of $233.7 million up 48.7% year over year. To highlight, this marks the fifth consecutive quarter of positive GAAP net income of $20.2 million or $0.08 per diluted share. In addition, the company had an adjusted operating EBITDA that grew to $81.2 million or 34.7% of revenue. Green Thumb ended the third quarter with cash totaling $285.8 million. The company was driven by the expanded distribution of Green Thumb branded products and increasing traffic in the 65 operating dispensaries.
TerrAscend cultivates and sells medical and adult-use cannabis in Canada and the United States. Overall, the company is a leading US cannabis operator with a footprint in Pennsylvania, New Jersey, and California. TerrAscend has licensed cultivation and processing facilities in Maryland and Canada. Primarily, the company produces and distributes hemp and cannabis-derived products and manufactures artisan edibles for cannabis consumers. In addition, TerrAscend launched a portfolio of Kind Tree Branded products in Maryland. The Maryland facility was already producing 15 strains of flower under the Kind Tree brand and now will add vapes and half gran pre-rolls to the lineup.
In November the company reported its third-quarter 2021 results with net sales of $49.1 million up 29% year over year but down 16% sequentially. As a result, TerrAscend has an adjusted gross profit margin of 46% compared to 59% in Q3 2020. Also important, TerrAscend signed an agreement to be the sole cultivator and manufacturer of COOKIES branded products in New Jersey and bring COOKIES to the three dispensaries it has in the state subject to regulatory approval. In September the company received Michigan prequalification approval for the acquisition of Gage Growth Corp. (OTC: GAEGF).
Columbia Care Inc.
Columbia Care Inc. is positioned for significant growth in the state of New York. Recently the company acquired a 34-acre Long Island cultivation site has given the company one of the largest cannabis footprints to service the East Coast market. At the present time, Columbia Care operates in 18 US markets and operates 130 facilities including 99 dispensaries and 31 cultivation and manufacturing facilities. In October the company opened a Cannabis Dispensary in Missouri its first location in the state. This month the company announced it has opened its third dispensary in Virginia under the gLeaf brand. Also in November Columbia Care announced its bringing heavyweight champion Mike Tyson’s highly-anticipated Tyson 2.0 Cannabis brand to Colorado.
Columbia Care delivered its third-quarter 2021 results with a record quarterly revenue of $132 million up 144% year over year. To highlight, the company saw a record quarterly Adjusted gross profit of $64.5 million an increase of 205% year over year. In addition, the company had an Adjusted gross margin of 49% and a record Adjusted EBITDA of $31 million up 634% year over year. The company revised its 2021 guidance to $470-$485 million and Adjusted EBITDA of $85-$95 million. In September the company received state approval to rebrand its retail footprint across all its 14 locations in Florida.
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