Marijuana Stocks with Potential for Pre-Fall Growth
In the volatile world of cannabis investments, ancillary companies that serve the sector provide unique opportunities for growth and stability. Using technical analysis allows investors to make informed judgments while practicing risk management. As the global cannabis industry grows, overseas stocks provide exposure to various markets, potentially increasing returns. In addition, the industry’s expanding online presence creates benefits and obstacles for investors looking for trustworthy information.
Ancillary cannabis stocks provide critical services to the cannabis industry, such as technology, equipment, and packaging. Investors use technical analysis to forecast prospective movements by scrutinizing price trends, patterns, and indicators. Including risk management measures ensures appropriate fund allocation, protecting against turbulent market movements and uncertainties.
International equities provide access to varied regulatory landscapes and consumer bases in the developing cannabis business. As global legalization initiatives proceed, investment in these stocks diversifies portfolios and provides access to emerging markets. On the other hand, the study of each country’s regulations and market conditions is critical for avoiding inherent risks.
The digital age gives a lot of information about marijuana stocks, but it also necessitates caution. Online forums, social media, and financial news platforms all impact investing decisions, requiring investors to sort through the noise and authenticate sources. Staying current on industry news and technology breakthroughs is critical for making informed decisions in this ever-changing landscape.
[Read More] The 3 Best Marijuana Stocks For You Today
High-Potential Picks: Top Marijuana Stocks for Pre-September 2023
- WM Technology, Inc. (NASDAQ: MAPS)
- Leafly Holdings, Inc. (NASDAQ: LFLY)
- IM Cannabis Corp. (NASDAQ: IMCC)
WM Technology, Inc.
Weedmaps is an online cannabis marketplace and a user and corporate directory. The company’s owner is WM Technology, Inc. As their operating system, cannabis stores commonly use WM Business’s cloud-based SaaS solutions. The solutions and services provided by WM Business typically make it easier to comply with the cannabis industry’s complex and ever-changing regulatory needs. WM Technologies expanded its product portfolio in May by introducing a digital payment option in Ontario. Small companies benefited as curbside pickup, delivery, and cashless transactions became more common.
Second Quarter 2023 Financial Highlights
- Revenue was $50.9 million compared to $58.3 million in the second quarter of 2022 (“prior year period”).
- Average monthly paying clients(1) was 5,609, as compared to 5,537 from the prior year period.
- The average monthly revenue per paying client(2) was $3,022, compared to $3,509 from the prior year.
- Net income was $2.0 million compared to net income of $19.8 million from the prior year period.
- Adjusted EBITDA(3) was $10.2 million compared to $(0.6) million from the prior year period.
- Basic and diluted net income per share were $0.01 based on 92.9 million and 93.6 million of Class A Common Stock weighted average shares outstanding, respectively.
- Total shares outstanding across Class A and Class V Common Stock were 148.9 million as of June 30, 2023.
- Cash totaled $24.6 million as of June 30, 2023, with no debt.
Business Outlook
- Based on information available as of August 8, 2023, WM Technology is issuing guidance for the third quarter of 2023 as follows:
- Revenue is estimated to be $47 million.
- Non-GAAP Adjusted EBITDA(1) is estimated to be approximately $4 million.
MAPS Stock Performance
MAPS stock closed at $1.14 on August 24th, up 28.77% in the last three months of trading. The stock has a 52-week price range of $0.596- $2.8750, down 59.57% in the last year. According to analysts at CNN Business, MAPS stock has a 12-month average price target of $2.06 per share. In essence, this would represent an upside of 81.86% from its last trading price of $1.14.
[Read More] Top Marijuana Penny Stocks for August: Upcoming Trends and Potential Gains
Leafly Holdings, Inc.
Leafly Holdings Inc. owns and operates a platform that connects consumers to cannabis brands and authorized merchants while offering clients cannabis-related information. The organization runs the most trustworthy website for locating and purchasing cannabis goods from licensed dealers worldwide. Every year, over 125 million people use Leafly to learn about cannabis and make online purchases from local companies. Customers can make informed purchasing decisions because of the organization’s extensive resources, which include technology and advertising services. This assists cannabis businesses in attracting and retaining repeat clients. Customers may now buy cannabis directly from the company’s website, thanks to the online cannabis delivery service launched in May when it opened its doors in California.
Second Quarter Financial Results
- Revenue was $10.7 million, down 11% from Q2 2022.
- Gross margin was 88%, consistent with Q2 2022.
- Total operating expense was $10.2 million, a 48% reduction from $19.5 million in Q2 2022, reflecting continued focus and discipline in operating efficiencies.
- Net loss for Q2 2023 was $1.4 million. Net income was $14.8 million for Q2 2022, which included a $24.4 million non-cash benefit from derivative liabilities.
- Adjusted EBITDA was positive $0.1 million compared to adjusted EBITDA loss for Q2 2022 of $8.4 million.
Financial Outlook
Today, Leafly is issuing third-quarter 2023 guidance. Based on current business trends and conditions, the financial outlook is expected to be around $11 million in revenue and adjusted EBITDA loss to be about $0.5 million.
LFLY Stock Performance
LFLY stock closed on August 24th at $0.31, down 1.52% in the past three months of trading. The stock has a range of $0.2340-$1.96 and is down 83.94% in the last year. According to analysts at CNN Business, LFLY stock has a median price target of $1.00 per share. In this case, this would represent an upside of 229.49% from its last trading price of $0.31.
[Read More] The Best List Of Marijuana Stocks In The Sector Today
IM Cannabis Corp.
IMC is a global pioneer in the medical and adult-use recreational cannabis industries, operating in Israel, Germany, and Canada. According to the business, the IMC brand has helped the Israeli medicinal cannabis sector reach a vital crossroads. IMC’s medical marijuana product line is growing. Adjupharm, an EU-GMP-certified medicinal cannabis distributor based in Germany, represents the company throughout Europe. The corporation has made grandiose claims regarding establishing a cutting-edge logistics hub in Germany. Adjupharm will be able to optimize its supply chain in the future with the help of this facility by repackaging cannabis in huge numbers.
Q2 2023 Financial Highlights
- Revenues stayed stable, with a 4% year-over-year increase to $13.2 million.
- 40% increase in Gross Margin
- 83% decrease in Non-IFRS Adjusted EBITDA Loss
- 33% decrease in operating expenses, a 20% decrease compared to Q1, 2023
IMCC Stock Performance
IMCC stock closed at $0.6956 on August 24th, down 34.38% in the past three months of trading. The stock has a 52-week price range of $0.59-$5.08, down 86.23% in the last year. According to analysts at CNN Business, IMCC stock has a median price target of $1.11 per share. In this case, this would represent an increase of 58.95% from its last trading price of $0.70.
Seizing Opportunities in a Budding Landscape
In the dynamic world of cannabis stocks, strategic insight and vigilance are paramount. As September approaches, staying attuned to evolving market trends and applying diligent research will empower investors to navigate the cannabis industry’s intricate pathways. By blending the potential of top marijuana stocks, technical analysis, and cautious risk management, investors can capitalize on the industry’s growth.
As the cannabis sector continues to expand, adaptability remains key. Navigating the online realm’s plethora of information demands discernment but also opens doors to valuable insights. Whether it’s ancillary companies providing critical support or international stocks venturing into new markets, a forward-looking perspective will drive success in this dynamic landscape. With careful consideration and a commitment to informed decisions, investors can cultivate a prosperous future in cannabis stocks.
MAPH Enterprises, LLC | (305) 414-0128 | 1501 Venera Ave, Coral Gables, FL 33146 | new@marijuanastocks.com
