Best Cannabis Stocks In December
Going into the last week of the year top marijuana stocks have seen some upside during this year’s Santa Claus Rally. After a rough start to the week due to concerns over the Omicron variant spreading rapidly the market shrugged it off and kept the party going. In 2021 the best cannabis stocks to invest in have seen significant declines due to delays with federal marijuana legalization and reform. This has left most top pot stocks trading near the lowest values seen this year now in December.
After gaining some momentum in the latter part of the week top marijuana stocks are going into the last week of the year with some potential for cannabis investors. Because Congress failed to pass any type of federal cannabis reform in 2021 most of the cannabis sector sustained steep declines this year. This may be a good opportunity for new investors looking for top marijuana stocks to buy in 2022.
For the next five years, many analysts are forecasting the cannabis market more than double in size. This is because new states and countries across the globe are beginning to establish new legal medical and recreational markets. According to a recent BDSA report, the global forecast for cannabis sales is expected to grow from $31 billion to $62.1 billion by 2026. In general, this is a compound annual growth rate of more than 15%.
Finding The Top Pot Stocks To Invest In Before 2022
Before investing in cannabis stocks, it’s important to do your own research on a company. Looking into a company’s financials and press releases can help you find the best companies to invest in. Also studying how a stock performs in the market can allow you to establish the best entry point for your investment. Many investors like to make a watchlist of possible stocks to invest in. This can help you follow a stock’s trading patterns and allow you to make the best returns from your positions. Let’s look at 3 top marijuana stocks for your list in 2022.
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Columbia Care Inc.
Columbia Care Inc. is set to expand considerably in New York. The company just purchased a 34-acre cultivation facility on Long Island, giving it one of the East Coast’s largest cannabis footprints. Columbia Care presently operates 130 locations in 18 cities across the United States, including 99 dispensaries and 31 growing and processing facilities. The firm opened its first Missouri location, a Cannabis Dispensary, in October. Earlier this month, the business announced the establishment of its third gLeaf dispensary in Virginia. Heavyweight champion Mike Tyson’s highly anticipated Tyson 2.0 Cannabis brand will also be arriving in Colorado, according to Columbia Care. On December 8th, the company announced a rebranding in the Florida market and at its retail locations. The new retail design and experience from Cannabist will be available soon.
In the third quarter of 2021, Columbia Care reported a record quarterly revenue of $132 million, up 144 % year over year. The company recorded a $64.5 million quarterly adjusted gross profit, up 205 percent from the prior quarter. Furthermore, the company reached a new high with a 49% adjusted gross margin and $31 million Adjusted EBITDA, both of which were up 634% year over year. Revenue estimates for 2021 have been increased to $470-$485 million, with adjusted EBITDA expected to be $85-$95 million. In September, the company received state approval to rebrand its retail footprint across all 14 of its Florida locations. On December 14th, Columbia Care, the UK’s first company to produce extract vaporization devices, revealed the UK’s largest line of medical cannabis extract vape pens.
Jushi Holdings Inc.
Jushi Holdings Inc. is a cannabis and hemp company based in the United States that is extending its position in both the medical and recreational marijuana markets. The company is primarily focused on developing a portfolio of branded cannabis and hemp-derived assets for the US market. Jushi currently operates 27 dispensaries under the BEYOND/HELLO brand in the United States. Jushi also has 31 retail licenses in the United States, and its national cannabis dispensary brand Beyond/Hello continues to grow both online and in-store. Sunstream Bancorp Inc. provided the company with a $100 million purchase facility in October. In addition, in Virginia, the company opened its second retail location.
Jushi announced revenue of $54 million for the third quarter of 2021 in November, growing 116.7% year over year. The company earned $38.2 million in net income, an increase of $68.2 million. In addition, Jushi’s Adjusted EBITDA increased by 124.9 percent from Q3 2020 to $6.4 million. As a result, the company had a gross profit of $24.5 million, up 99.6% year over year. In addition, the company introduced new branded cannabis products in Virginia. Jushi will unveil its vaporizable cartridges under the brand The Lab, as well as its chewable line Tasteology. In the third quarter, Jushi expanded its Nevada footprint and began selling flowers in Virginia.
TPCO Holding Corp.
TPCO Holding Corp. is currently one of California’s largest cannabis companies. Caliva, a direct-to-consumer platform, and Left Coast Ventures, a hemp manufacturer, are among the TPCO members, which also includes Shawn Jay-Z Carter, an icon and entrepreneur. Carter serves as the Chief Visionary Officer and brand strategist at TPCO. In August, Troy Datcher became the company’s new Chief Executive Officer. Datcher’s appointment represents the first time in the United States that a Black CEO has led a large publicly traded cannabis company. In October, Coastal Holdings Company, LLC was purchased, extending the company’s retail network to 11 locations and six delivery hubs.
On November 15th, TPCO announced net sales of $39.7 million and a gross profit of $6.1 million. This equals 15% of revenue, for the third quarter of 2021. In addition, in the third quarter, the company lost $16.2 million in Adjusted EBITDA. The company had $206.7 million in cash and equivalents at the end of Q3 2021. Tiffany McBride was named Managing Director of Social Equity Ventures in November, and Kerry Arnold was named Chief People Officer.
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