2 Canadian Marijuana To Watch For Better Momentum
Marijuana stock investors are still facing a volatile sector as they look for a moment to take profits. With most marijuana stocks still having an up-and-down pattern of trading, this can hold upside for some investors. On one hand, when a decline occurs it can be a chance to find the best marijuana stocks to buy. As well when a volatile rise happens it can a chance to take profits if you are quick enough.
The inconsistency in how long a marijuana stock recovered is so short it makes taking profits a challenge for some. Most publicly traded cannabis companies have an unpredictable pattern of trading, What this means is unlike other stocks that may have particular patterns most marijuana stocks do not. So how would a person know when something could happen or how to take profits when the time comes?
What most do is keep a close eye on the sector for any changes a person can take advantage of as mentioned above. Along with this, you want to do your homework on each marijuana stock you feel will make a good investment. The more you know about a company in and out of the market the better odds you have limiting your risk and maximizing your reward. The marijuana stocks to watch below could be the ones you need in your portfolio.
Marijuana Stocks To Watch This Month
- SNDL Inc. (NASDAQ:SNDL)
- Cronos Group Inc. (NASDAQ:CRON)
SNDL Inc.
SNDL Inc. engages in the production, distribution, and sale of cannabis products in Canada. The company operates through Cannabis Operations and Retail Operations segments. It engages in the cultivation, distribution, and sale of cannabis for the adult-use markets; and private sale of recreational cannabis through corporate-owned and franchised retail cannabis stores.
In recent news, the company along with IM Cannabis Corp has completed its first international export of premium Flower. This shipment was cannabis flower from Canada and then sent to Israel. The expansion marks a significant milestone for SNDL as it enters the global market.
Words From The Company
“We are pleased with our partnership with IMC, one of Europe’s most established and trusted medical cannabis companies,” said Andrew Stordeur, President and Chief Operating Officer of SNDL.
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Cronos Group Inc.
Cronos Group Inc. operates as a cannabinoid company. It manufactures, markets, and distributes hemp-derived supplements and cosmetic products through e-commerce, retail, and hospitality partner channels under the Lord Jones and Happy Dance brands in the United States.
The company is also involved in the cultivation, manufacture, and marketing of cannabis and cannabis-derived products for the medical and adult-use markets. It has been some time since the Cronos Group has released any new updates. Back in August, the company released its Q2 2022 earnings on August 9th.
Financial Highlights
- Net revenue of $23.1 million in Q2 2022 increased by $7.4 million from Q2 2021
- Gross profit of $4.1 million in Q2 2022 improved by $19.9 million from Q2 2021.
- Adjusted EBITDA of $(18.8) million in Q2 2022 improved by $31.0 million from Q2 2021.
- Capital expenditures of $1.9 million were essentially unchanged.
[Read More] 2 Marijuana Stocks To Watch Mid Week
Words From The Company
“I am encouraged by the progress we are making to realign our business around our brands to become more efficient in our decision making and agile throughout our supply chain,” said Mike Gorenstein, Chairman, President and CEO, Cronos. “Our supply chain transformation in Canada is going very well, with GrowCo achieving profitability in the year-to-date period.
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