Why These Pot Stocks Could be Holding Hidden Value
With so many marijuana stocks in the cannabis industry, finding hidden value can sometimes be a challenge. Often times as investors, we want to find pot stocks to watch that others have yet to discover. This way, we can pull in more potential gains before a marijuana stock takes off. But contrary to this, we have several well-known cannabis stocks, that have performed exceptionally well in recent months. This exceptional performance means that they could continue to grow substantially in the near future.
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But, in order to determine their value, we have to first take a closer look at their financial statements. With this, we can begin to see where a leading pot stock may be headed in the coming months. Although this is not nearly the only factor to consider, it is one of the most useful ones. As intelligent investors, we always have to make sure that we are using all the data that we have at our disposal. With this, we can be sure that a cannabis stock is always meeting our standards. Because of this, here are two marijuana stocks to watch that have been showing solid financials.
A U.S. Marijuana Stock That Is Poised To Grow
Green Thumb Industries Inc. (OTC:GTBIF) is one of the most popular U.S. based marijuana stocks. The leading dispensary operator has amassed quite a large valuation in its past few years. This is due to how fast GTBIF stock has grown during that time period. In its most recent quarter, GTBIF stock posted as much as $120 million in sales. When compared to the year prior, this represents an almost 170% gain. Although this is not surprising considering GTBIF stock’s performance, it is a solid sign of growth.
In addition, during that same period, Green Thumb posted an adjusted EBITDA growth of around 40%. These earnings are in line with other major MSOs such as Curaleaf Holdings Inc. (OTC:CURLF) and Trulieve Cannabis Corp. (OTC:TCNNF), but they do remain quite good. CEO of Green Thumb, Ben Kovler stated that “demand is strong as cannabis continues got behave like a consumer staple.” The increased demand that the company has seen is unique to the past few months. But, with demand continuing to increase, GTBIF stock continues to look like a pot stock to watch.
A Solid Alternative Pot Stock To Watch
GrowGeneration Inc. (NASDAQ:GRWG) is a leading ancillary marijuana stock working out of the U.S. The company operates in a similar manner to Scotts Miracle-Gro Inc. (NYSE:SMG), although it differs in some key ways. For one, GRWG stock has continued to post very high sales amounts for the past ten quarters consecutively. Compared to the year prior, GRWG stock recently posted revenue up by around 125%.
This represents an amount of roughly $43 million. Because of the increasing demand for cannabis growing supplies, GRWG stock has seen some major momentum in the past few months. In terms of net income, GRWG stock posted around $2.6 million which is more than double the amount of the year prior. These numbers help to illustrate just how much potential GrowGeneration has to maintain its position in the ancillary cannabis industry. And, with increasing numbers and rising demand, GrowGeneration stands as a marijuana stock to watch.
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