Best Marijuana Stocks For 2022 This Month
Are top marijuana stocks on your radar for 2022? For most of last year, the cannabis sector experienced declines because of delays with federal marijuana legalization and reform. Now after almost a year of experiencing downside, some top cannabis stocks have recently set new 52-week lows. Although pot stocks have not performed well in 2021 many leading companies have continued to deliver strong revenue growth and expanded their footprint.
Some have developed in the US, but others are building an international presence. As the US continues to delay changing federal policy on cannabis other countries are getting a head start in the cannabis market. In Canada and Internationally the cannabis industry is becoming more accepted for medicinal and recreational use. This is helping the cannabis market spread on a global scale which is expected to continue for the next few years.
In fact, a recent report from Emergen Research estimates global medical cannabis sales to reach $47.15 billion by 2027. This is estimated at a CAGR of 16.9% with market revenue attributed to the increase in the medical use of cannabis. In many of these international markets, cannabis companies are developing a strong presence. These companies could be some of the industry leaders in the future.
Making The Best Investments And Finding Top Pot Stocks To Buy
Before investing in top pot stocks, it’s important to do your own research on a company. Looking into a company’s earnings and studying how a stock performs in the market can help you establish the best positions for your investments. Learning how to analyze a stock’s trading patterns to establish the best entry points can help you become a successful trader.
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For cannabis stocks, it’s important to make a good entry because of the extreme market volatility the sector is known for. While top pot stocks continue to trade near their lower price points it could be time to make a list of the best cannabis stocks to invest in. In mid-January, some marijuana stocks have tested new lows and could be primed for some upside. For this reason, let’s look at 2 top marijuana stocks for your list in mid-January.
Top Cannabis Stocks To Watch 2nd Week In January
- Aurora Cannabis Inc. (NASDAQ: ACB)
- IM Cannabis Corp. (NASDAQ: IMCC)
Aurora Cannabis Inc.
Aurora Cannabis Inc. is a Canadian company that produces and distributes medical marijuana worldwide. With the purchase of Reliva, a CBD-producing company in the United States, the company recently announced its entry into the US cannabis industry. In addition, Aurora has added three new cultivars to its San Rafael ’71 collection. On the international front, the company transported a cannabis shipment worth $8 million to Israel. The company is now rebuilding its balance sheet, and the first shipment to the French medicinal cannabis pilot program has been completed.
In addition, in the first quarter of the fiscal year 2022, Aurora recorded total cannabis net sales of $60.1 million, up from $54.8 million in the fourth quarter of fiscal year 21. As it stands, the company has an $11.5 million Adjusted EBITDA loss. Aurora is the largest Canadian LP in the global medical cannabis industry, and it claims to be on track with its business restructuring strategy.
Words From The CEO
“During the quarter, total cannabis net revenue increased by approximately 10% sequentially, driven by our industry-leading and high margin global medical cannabis business. Our premiumization strategy also gained traction, as evidenced by 29% sequential revenue growth in our premium dry flower brands of San Rafael ’71 and Whistler, primarily driven by the launch of three new Coast cultivars.”
Miguel Martin, Chief Executive Officer of Aurora Cannabis.
ACB Stock Performance
ACB stock is trading at $5.57 on January 13th up 4.54% in the last five trading days. Currently, the stock has a 52-week price range of $5.22-$18.98 down 30.85% in the past six months. According to analysts at CNN Business, ACB stock has a consensus price target of $6.36 per share. This would be an upside of 14.15% from its last trading price of $5.57.
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IM Cannabis Corp.
At the present time, IMC is currently a worldwide leader in the medicinal and adult-use recreational cannabis sectors, with operations in Israel, Germany, and Canada. According to the company, based in Israel, the IMC brand has established a standard in the Israeli medical cannabis industry. The medicinal cannabis sector is becoming a part of IMC’s services. Adjupharm, a German-based subsidiary, and EU-GMP-certified medical cannabis distributor represents the company across Europe. Additionally, the corporation announced the completion of a cutting-edge logistics facility in Germany, which is particularly notable. Thanks to this facility, Adjupharm will optimize its supply chain in the long run, including bulk cannabis repackaging.
In December, IMC launched WAGNERS Brand in Germany, providing quality indoor-grown Canadian cannabis to the country. The company established a relationship with cbdMD Inc. in the third quarter to market cbdMD products in Israel. In addition, IMC announced third-quarter 2021 profits on November 15th, with sales of $14.4 million, up 30% from Q2 2021. In terms of details, the gross margin grew to 20% and is predicted to continue to grow through 2022. At the start of the third quarter, the company will begin shipments and secure the flow of EU-GMP supplies. Earlier today the company announced the appointment of Rinat Efrima as the new Chief Executive Officer of IMC Holdings.
IMCC Stock Performance
IMCC stock is trading at $2.7602 on January 13th down 5.32% in the past five trading days. The stock has a 52-week price range of $1.75-$11.63 and is down 44.23% in the last six months. According to analysts at Tip Ranks IMCC stock has a 12-month average price target of $7.39 per share. In this case, this would represent an upside of 166.79% from its last trading price of $2.76.
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