Best Marijuana Stocks For 2022
Are you looking for top marijuana stocks to watch for 2022? As the Santa Claus rally is off to a good start some top cannabis stocks have also seen some upside in the last few trading sessions. At the beginning of December, most of the cannabis sector declined to the lowest levels seen this year. In 2022 as more states continue to legalize marijuana for medical and recreational use many leading companies will continue expanding across the country.
Although the federal government was unable to pass cannabis reform in 2021 it has mostly only hurt the US cannabis industry in the stock market and with the ability to bank regularly. On the other hand, many leading cannabis companies delivered strong earnings in 2021 and expanded rapidly across current legal states. For investors, recent drops in market value for pot stocks and potential future growth could be a good opportunity for future returns.
Making a watchlist of top marijuana stocks can be a good way to keep track of possible investments. Finding the cannabis companies with strong financials and following how the stock performs in the market can help you achieve the largest returns. As new states like New York and New Jersey implement new recreational cannabis markets those companies that are well-positioned within the state may see significant growth.
Investing In Pot Stocks For Q1 2022
It’s important for investors to do their own due diligence before starting a position. With many top marijuana stocks in the market narrowing down the pot stocks that could have potential is important to achieving gains in the market. Now as top cannabis stocks begin to recover some of the value lost this year, they may begin to trade on fundamentals instead of only moong on the possibility of cannabis reform. Let’s look at 2 top marijuana stocks for your watchlist in January 2022.
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Best Cannabis Stocks For Your January 2022 Watchlist
- Curaleaf Holdings, Inc. (OTC: CURLF)
- Columbia Care Inc. (OTC: CCHWF)
Curaleaf Holdings, Inc.
Curaleaf Holdings, Inc., a multi-state cannabis retailer with 113 retail locations in the United States, distributes packaged cannabis products. Through its fully owned company Adven GmbH, Curaleaf International, a completely owned subsidiary of the company, has begun operating in Germany, boosting access to medicinal cannabis products. Curaleaf’s Select brand is one of the most well-known in the United States. Curaleaf increased its operations in three states after acquiring Tryke Companies in November. The company’s portfolio now includes properties in Arizona, Nevada, and Utah. Curaleaf has also expanded its B Noble partnership to ten states, including New York’s medical industry. The B Noble cooperation is trying to promote the company’s social equity.
Curaleaf announced $317 million in revenue for the third quarter of 2021 in November, increasing 74% year over year. The company’s Adjusted EBITDA was $71 million, up 69% over the previous year. In Q3 2021, Curaleaf’s cash flow from operations was $52 million, or 16% of revenue. As a result, gross cannabis sales revenue in Q3 2021 was $144 million, up 61% year over year. Los Suenos Farms was also bought, bringing the total cultivation capacity of the corporation to 4.4 million square miles.
CURLF Stock Performance
On December 27th, CURLF stock closed at $8.69, down 40.27% over the past six months. The stock is currently trading in a 52-week range of $7.79-$18.38 and is down 27.41% year to date. CURLF stock has a 12-month average price forecast of $18.62 per share, according to Tip Ranks analysts. This projection indicates a 114.27% increase compared to the previous price of $8.69.
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Columbia Care Inc.
Columbia Care Inc. is planning a significant expansion in New York. The business just acquired a 34-acre growing facility on Long Island, giving it one of the largest cannabis footprints on the East Coast. Columbia Care now has 130 sites, including 99 dispensaries and 31 growing and processing facilities, in 18 cities across the United States. In October, the company established its first Missouri site, a Cannabis Dispensary. The company announced the opening of its third gLeaf dispensary in Virginia earlier this month. According to Columbia Care, heavyweight champion Mike Tyson’s highly anticipated Tyson 2.0 Cannabis brand will also be coming to Colorado. The company announced a rebranding in the Florida market and at its retail sites on December 8th. Cannabist’s new retail design and experience will be available shortly.
Columbia Care announced record quarterly sales of $132 million in the third quarter of 2021, up 144% year over year. The company’s quarterly adjusted gross profit was $64.5 million, up 205% over the previous quarter. In addition, the company set a record with a 49% adjusted gross margin and $31 million Adjusted EBITDA, up 634% year over year. Estimated revenue for 2021 has been raised to $470-$485 million, with adjusted EBITDA of $85-$95 million. The company gained authority from the state in September to rename its retail footprint across all 14 of its Florida sites. Columbia Care, the first company in the UK to create extract vaporization devices, unveiled the UK’s biggest line of medical cannabis extract vape pens on December 14th.
CCHWF Stock Performance
CCHWF stock closed on December 27th at $3.05 up 5.90% in the past five trading days. Currently, the stock has a 52-week price range of $7.79-$18.38 and is down 49.59% year to date. According to analysts at CNN Business CCHWF stock has a 12-month median price target of $10 per share. In this case, this would represent an increase of 227.87% from its last trading price of $3.05.
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