2 Marijuana Stocks Investors Are Watching Right Now
Many marijuana stock investors are currently playing the waiting game. This is due to the evident drop in trading. Now, most of the sector is experiencing this pullback. However not every cannabis stock is. In fact, some ancillary marijuana stocks have been able to keep a solid market level. Despite the rest of the sector not performing as well. The reason for this is ancillary marijuana stocks don’t solely rely on the cannabis industry as a business. Other niches and sectors can utilize some of these same ancillary services or products.
Although for most down cannabis stocks operational wise business is doing well for the most part. Back in November many publicly traded cannabis companies started to release earnings. At this time the majority of these companies were able to show solid results. Yet do to trouble concerning cannabis legislation issues the market was not as receptive to positive earnings as it once was. Still, at certain points, the sector did see some minor increases in momentum.
The overall cannabis sector has lacked consistent momentum in the last year. Still, as people continue to take advantage of this drop what will change in the future. It seems that the idea is to find top marijuana stocks to buy and hold. This hold is based on the belief that on the day federal reform passed it create a big run. Now, this is not a guarantee but hopes are high in regards to it. But let’s say this run does happen how long will it last and will be what investors thought. Some want to know what it’ll happen after and how will marijuana stock fare in the upcoming new year.
Top Cannabis Stocks To Watch In 2022
With more developments and the push for more states to go legal 2022 is previewing great promise. Nevertheless the less you should still keep an eye out and stay updated on anything new that may help the sector. As things push forward big things are happening right now in the cannabis industry. With that said make sure to always do your homework before investing. Only take the necessary risk if you feel a return can be made at some point. The marijuana stocks to watch below are a few companies to follow as 2022 approaches.
Marijuana Stocks To Watch This Month
- WM Technology, Inc. (NASDAQ:MAPS)
- TerrAscend Corp. (OTC:TRSSF)
WM Technology, Inc.
WM Technology, Inc. provides SaaS subscription offerings to retailers and brands in the United States and Canadian cannabis markets. The company operates Weedmaps listings marketplace that offers consumers information regarding cannabis retailers and brands. In recent news, the company announced it has filed Form S-1. This was done to register shares of class A common stock issued. Which was done as part of Q3 2021 acquisitions. In the third quarter, the Weedmaps acquired the assets of MembersRSVP, LLC and Text Ripple, Inc. As well as the equity interests of Transport Logistics Holding Company, LLC d/b/a Merry Go Jane.
As part of the total consideration, the company issued a total of 1,938,798 shares of Class A common stock. This was given to certain stakeholders of the counterparties to such transactions. Additional detail can be found in the Form 10-Q filed by the Company with the SEC on November 12, 2021. The Selling Securityholders may offer, sell or distribute all or a portion of their shares of Class A common stock. Whether it be publicly or through private transactions at prevailing market prices or at negotiated prices.
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TerrAscend Corp.
TerrAscend Corp. cultivates, processes, and sells medical and adult-use cannabis in Canada and the United States. It produces and distributes hemp-derived wellness products to retail locations. In addition to manufacturing cannabis-infused artisan edibles. The company also operates three retail dispensaries under the Apothecarium brand name in California and Pennsylvania.
Back on November 16th, the company released its Q3 2021 net sales. At this time the company’s net sales increased 29%. These figures are year-over-year to $49.1 million and declined 16% sequentially. Also, TerrAscend saw an Adjusted EBITDA1 of $10.5 million. Which is compared to $13.2 million in Q3 2020 and $24.3 million in Q2 2021. Furthermore, the company also had a cash balance of $103 million. This was at the end of the quarter to which it supported growth initiatives.
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Words From The Company
Jason Wild, Executive Chairman of TerrAscend, commented, “I am pleased with the improvements made in Pennsylvania since we withdrew full year 2021 guidance in August. The ratio of quality flower to trim from recent harvests has increased dramatically. Additionally, THC and Terpene potency has been testing at all-time highs. In New Jersey, we are well prepared for adult use once the state gives us the go ahead. Our New Jersey Apothecarium dispensaries will have some of the best selection and depth of product available in the state at launch. We are building this business for success over the long term and will continue to make decisions with that mindset. For the 4th quarter, we expect to show sequential revenue and adjusted EBITDA growth with these positive trends accelerating into 2022.”
MAPH Enterprises, LLC | (305) 414-0128 | 1501 Venera Ave, Coral Gables, FL 33146 | new@marijuanastocks.com
