2 Canadian Cannabis Stocks To Buy For September?
Some marijuana stocks are continuing to see volatile trading. Now as companies keep trading up and down what will keep the sector’s momentum moving in the right direction? Throughout August many cannabis companies have reported earnings which did help to a certain degree. The increase in trading that has occurred this month has allowed some shareholders to take a profit. Still, the concern is even with positive earnings and more overall industry progress these upticks are short-lived. With how fast things can change some see it as a chance to find top marijuana stocks to buy. The cannabis industry is thriving and expanding at a fast pace.
This means there is the potential to see more opportunities from the growth and success of the industry. As this progress takes place the majority of investors tend to overlook this as a means to trade marijuana stocks. Most shareholders rather buy or sell depending on the news that is released. For example, the biggest catalyst to date is news on federal reform. Historically when news on the topic is released and it’s progressive the sectors see better action.
If you are looking to invest in the best marijuana stocks here are steps to take. First, you want to learn about the companies you feel are worth it. The better a company produces as a business most times the better odds of seeing the company perform well in the market. With good due diligence, you can help lower your risk and see better gains. Now with how unpredictable the cannabis sector can be nothing is promised. So using good judgment can go a long way when investing in cannabis stocks.
Top Marijuana Stocks To Watch Right Now
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 cultivates, manufactures, and markets cannabis and cannabis-derived products for the medical and adult-use markets. In recent news, the company released its Q2 2022 earnings on August 9th.
- 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.
[Read More] Cannabis Industry Outlook Trends And News 2022
OrganiGram Holdings Inc.
OrganiGram Holdings Inc. through its subsidiaries produces and sells cannabis and cannabis-derived products in Canada. Back in July OrganiGram reported its Q3 2022 earnings.
[Read More] Top Canadian Marijuana Stocks To Buy Today?
Q3 2022 Highlights
- Achieved gross revenue of $55.2 million, up 90% from the same prior-year period and 26% higher than Q2 Fiscal 2022
- Continued record growth in net revenue, reaching $38.1 million, the highest in the history of the Company, up 88% from $20.3 million in the same prior-year period and 20% from $31.8 million in Q2 Fiscal 2022
- In Q3 Fiscal 2022, achieved #3 position among Canadian licensed producers with 7.8% market share. In June 2022 the Company had 8.5% share of recreational adult use market 1
- Continues to hold #1 position in dried flower, the largest category of the Canadian cannabis market and the #3 market position nationally in gummies1
- Introduced 16 new SKUs for a total of 85 SKUs in market
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