Top Marijuana Stocks For Your December Watchlist
As marijuana stocks face a new week a great amount of anticipation lays ahead in the sector. For some time now the bulk of marijuana stocks have been faced with a lot of inconsistent trading. Now due to how volatile the sector is there are many reasons for this up and down trading. However, the problem that is causing the most trouble for shareholders is federal cannabis reform. In the last several months a big amount of bipartisan support has come behind ending cannabis prohibition. When news and progressive news is released historically it resonates well for the sector.
But on the other side of that coin when news is not so great and issues occur most times marijuana stocks react poorly. Even with it creating a situation to find the best marijuana stocks to buy investors need more. So with the possible passing of cannabis banking cannabis stock investors await the results. Now what brings more concern is when Chuck Schumer said wouldn’t pass cannabis banking before more modest reform. Such as ending cannabis prohibition once and for all.
Many who are keeping tabs on the cannabis industry are keeping this as the main objective. Going beyond just marijuana stocks cannabis overall is making its way in almost every state in America. As a relatively new industry, the progress and success of what’s taken place have broken many barriers. Though marijuana is still federally illegal more than half of the United States has legalized marijuana in some way.
Marijuana Stocks And The Cannabis Industry
In addition to even more states that are soon to propose cannabis legislation. With marijuana becoming more of a legitimate industry than ever before it gives investors more comfort. Investing is a risk but when things are able to be profitable in a legal and regulated market it brings more interest. Yes as cannabis is becoming more popular the idea of investing and becoming more present. Especially with marijuana stocks in 2021.
Planet 13 Holdings Inc.
Planet 13 Holdings Inc. a cannabis company, cultivates, produces, distributes, and markets cannabis and cannabis-infused and related products for medical and retail cannabis markets in Nevada. In the company’s most recent news Planet 13 Holdings Inc. released its Q3 2021 earnings. At this time the company’s Q3 revenue reached $33.0 million. This is up 45% for the company in comparison to Q3 of 2020. Also the company’s Q3 2021 Adjusted EBITDA of $3.5 million.
Another highlight is Planet 13 Gross profit before biological adjustments was $17.6 million or 53.5% as compared to $13.0 million or 56.9%. As well as the company’s net loss before taxes of $4.6 million. Which is compared to a net profit of $3.4 million. In addition, Planet 13 was able to secure a big win. This came on October 1, 2021, Planet 13 announced the close of its acquisition of the Florida cannabis license.
Words From The Company
“We continued to drive strong performance during the quarter from our core Las Vegas operations,” said Larry Scheffler, Co-CEO of Planet 13. “Along with our dispensary operations, our product brands are performing well with Trendi vapes seeing 110% dollar sales growth year over year according to Headset. It now makes up about ~5% of Vape sales and 7% of Concentrate sales and HaHa edibles was ~14% of edibles sales in the State.”
Jushi Holdings Inc.
Jushi Holdings Inc. a vertically integrated cannabis company, engages in the cultivation, processing, retail. As well as distribution of medical and adult-use products. It focuses on building a portfolio of cannabis assets in various jurisdictions. Such as Pennsylvania, Virginia, Ohio, Illinois, California, Nevada, and Massachusetts. In the past 2 weeks, the company has released 2 important news updates. Back on November 17th, the company announced it has further expanded its Nevada footprint.
This has happened with the acquisition of a vertically integrated state operator NuLeaf, Inc. On the same day, the company also released its Q3 2021 financial results. At this time the company saw a total revenue of $54.0 million. This counted for an increase of 13.1% sequentially and 116.7% year-over-year. In addition to this Jushi’s gross profit of $24.5 million, an increase of 11.4% sequentially and 99.6% year-over-year. After that Jushi also launched flower sales in Virginia.
Along with the introduction of the flower brands, The Bank and Sèche. In recent developments, the company opened the 25th and 26th retail locations nationwide. Including the Company’s 16th BEYOND / HELLO™ store in Pennsylvania and the 2nd BEYOND / HELLO™ store in Virginia. In addition to Announced the appointment of Edward Kremer as Chief Financial Officer.
Words From The CEO
“Our financial performance in the third quarter demonstrates our ability to continue to drive strong top line revenue growth and improved profitability, both on a sequential and year-over-year basis, while continuing to invest in the business to support our future growth,” said Jim Cacioppo, Chief Executive Officer, Chairman and Founder of Jushi.
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