Best Cannabis Stocks For February 2022
Are you looking for top marijuana stocks to buy for 2022? To start the new year the cannabis sector has seen significant declines in value. In January most of the best cannabis stocks to buy have set new lows this month and continue experiencing downward pressure in the market. In general, these drops in value are mostly related to the delays with passing federal cannabis reform in 2021. Now it seems most of the cannabis sector has priced in the possibility of not achieving changes to federal policy this year.
Last week in another attempt to establish the SAFE Banking Act for the cannabis industry Rep. Ed Perlmutter is looking for another vehicle to attach banking reform to in 2022. This same bill was removed from the NDAA in December by the Senate. Regardless of the issues with US federal policy against cannabis, on the state level, the industry is growing rapidly. In the US many new states are establishing legal medical and recreational markets that continue to add new market growth to the industry.
At the present time, there are many ways to gain exposure to the cannabis market. Some cannabis investors prefer buying into vertically integrated cannabis companies to gain direct exposure to the industry. Other investors find ancillary cannabis companies that support the industry a better option for their trading style. Ancillary cannabis companies are those companies that support the cannabis industry without touching the actual plant.
Finding The Best Pot Stock Investments For 2022
Before investing in any pot stocks, it’s always important to do your own research. Looking into a company’s finances and press releases will help you find the top-performing businesses. In addition, following how a stock moves in the market can allow you to establish the best entry for your investments. As we head into February trading let’s look at 3 top cannabis stocks for your list right now.
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Top Marijuana Stocks For February 2022
- TerrAscend Corp. (OTC: TRSSF)
- WM Technology, Inc. (NASDAQ: MAPS)
- Jushi Holdings Inc. (OTC: JUSHF)
TerrAscend Corp.
TerrAscend is a cannabis corporation that cultivates and sells medicinal and adult-use cannabis in Canada and the United States. The company is a major cannabis operator in the United States, with operations in Pennsylvania, New Jersey, and California. TerrAscend owns and runs cannabis cultivation and processing facilities in Maryland and Canada. The company specializes in the development and distribution of hemp and cannabis-derived goods, as well as artisan cannabis treats. In Maryland, TerrAscend has launched a range of Kind Tree-branded items. The Maryland facility already produces 15 strains of flower under the Kind Tree label, and it will soon add vapes and half-gram pre-rolls to the mix.
In November, the company reported third-quarter 2021 results, with net revenues of $49.1 million, up 29% year over year but down 16% sequentially. As a result, TerrAscend’s adjusted gross profit margin has dropped to 46% from 59 percent in Q3 2020. TerrAscend has vowed, subject regulatory clearance, to be the state’s only producer and maker of COOKIES branded items, as well as to provide COOKIES to its three dispensaries. In September, the business received certification approval for the purchase of Gage Growth Corp. in Michigan (OTC: GAEGF). On January 5th, TerrAscend announced Ziad Ghanem’s appointment as president and chief operating officer.
TRSSF stock closed at $5.06 on January 28th and was down 12.61% in the last month of trading. Currently, the stock has a 52-week price range of $4.64-$16.25 and is down 17.25% year to date. According to analysts at Tip Ranks TRSSF stock has a 12-month average price target of $10.83 per share. In this case, this would represent an upside of 114% from its last trading price of $5.06.
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WM Technology, Inc.
Weedmaps is a cannabis user and business directory with an online listing marketplace. WM Technology, Inc. owns it as a subsidiary. Cannabis stores typically employ the WM Business cloud-based SaaS solutions as an operating system. The products of WM Business, in general, aid in compliance with the cannabis industry’s complex and ever-changing rules. Weedmaps revealed a multi-year contract with Kevin Durant’s Thirty-Five Ventures earlier this year, as well as a sponsorship deal with Boardroom. In September, the company bought Sprout, a well-known cannabis CRM, and marketing platform.
Weedmaps presently has over 18,000 business listings in the United States and an estimated 13.9 million monthly active users. The average monthly income per paying client has increased by 7% to $3817. The corporation announced $50.9 million in sales for the third quarter of 2021 in November. On September 30, 2021, revenue in the United States increased by 46 percent year over year, with 13.9 million monthly active users. Furthermore, gross profit was $48.8 million, with a $49.2 million net profit. In the fourth quarter of 2021, WM anticipates revenues of $50-$52 million. In November, the company released groundbreaking information on the cannabis industry in the United States.
On January 28th, MAPS stock closed at $4.50, down 27.70% in the past month. The stock is currently trading in a 52-week price range of $4.21 to $29.50, and it has been down 66.67 % in the last six months. MAPS stock has a 12-month median price objective of $13 a share, according to CNN Business analysts. In other words, from its previous trade price of $4.50, this would indicate a gain of 189.53%.
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Jushi Holdings Inc.
Jushi Holdings Inc. is a cannabis and hemp company with a rising presence in the United States’ medical and recreational marijuana markets. The company’s main purpose is to develop a portfolio of branded cannabis and hemp-derived goods for the American market. Jushi operates 28 dispensaries in the United States under the BEYOND/HELLO brand. Jushi also has 31 retail licenses in the US, and its national cannabis dispensary brand, Beyond/Hello, is expanding both online and in-store. Sunstream Bancorp Inc. granted the company a $100 million purchase facility in October. In addition, the company opened its second retail location in Virginia.
Jushi reported $54 million in sales for the third quarter of 2021 in November, an increase of 116.7 percent year over year. The net income of the corporation grew from $68.2 million to $38.2 million. In addition, in Q3 2020, Jushi’s Adjusted EBITDA increased by 124.9 percent to $6.4 million. As a result, the company’s gross profit increased by 99.6% year over year to $24.5 million. The company also unveiled new branded cannabis products in Virginia. Under the title The Lab, Jushi will introduce its vaporizable cartridges as well as its chewable brand Tasteology. In the third quarter, Jushi expanded its Nevada footprint by selling flowers in Virginia. On January 10th, Jim Cacioppo, the company’s CEO, Chairman, and Founder, acquired shares.
JUSHF stock closed at $3.35 on January 28th up 7.97% for the last five trading days. Currently, the stock has a 52-week price range of $2.95-$9.063 and is up 35.58% in the past six months of trading. According to analysts at Tip Ranks JUSHF stock has a 12-month average price target of $8.46 per share. In this case, this represents an upside of 152.44% from its last trading price of $43.35.
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