Best Cannabis Stocks To Watch In September
Do you want to invest in the best marijuana stocks in September? US MSOs, according to several experts, will be the key cannabis companies to keep an eye on in 2022. Since the pandemic, the US cannabis market has expanded significantly, surpassing Canadian LPs as the largest income generators in the sector. Several of the most significant cannabis stocks to follow have started to gather momentum after it was revealed that Schumer had submitted the CAOA in the Senate in July.
As the market fell last week, US marijuana stocks have stabilized and several of the top names have seen some gains. Day traders and swing traders typically make the most money when trading in a market like this one. In addition to their significant long-term investments in the cannabis sector, some long-term investors choose to engage in short-term trading strategies. As a result, they stand to benefit from daily changes in the stock’s price.
At the present time, Federal cannabis law delays have hurt the US cannabis industry, which brings in billions of dollars annually. Investors may be able to profit from the market’s present momentum by utilizing the sector’s recovery. here are the three best marijuana stocks to watch in September are listed below.
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Best US Marijuana Stocks In 2022
Curaleaf Holdings, Inc.
Curaleaf Holdings, Inc., a multi-state cannabis retailer with 137 retail locations around the country, makes packaged cannabis products. Medical marijuana products are currently being marketed in Germany by Adven GmbH, a fully owned subsidiary of Curaleaf International. Curaleaf’s Select is one of the most well-known brands in the nation. In November, Curaleaf purchased Tryke Companies in order to grow into three additional states. Arizona, Nevada, and Utah are currently held by the company. The company unveiled its 51st facility in Florida at the end of July. Curaleaf claims that Matt Darin assumed the role of CEO in May.
The company’s revenue grew annually and sequentially in the second quarter of 2022, reaching $338 million. Additionally, Adjusted EBITDA increased sequentially by 18% and yearly by 2% to reach $86 million in the second quarter of 2022. The business has 135 total sites, seven more retail dispensaries, and over 2,200 wholesale partner customers at the end of the second quarter. From $155 million in the same time of 2021 to $175 million in the second quarter of 2022, the gross profit from cannabis sales increased. Compared to the second quarter of 2021, the second quarter of 2022 had a $28 million net loss attributable to Curaleaf Holdings, Inc. On August 10th, Curaleaf International announced a significant product registration in Poland. With this latest development, Europe’s foothold in the expanding medical cannabis sector has continued to grow.
CURLF Stock Performance
On September 2nd CURLF shares closed at $6.45, up 15.36% in the past month of trading. The stock is currently trading in a 52-week range of $4.79-$12.85 and is down 28.22% year to date. According to analysts at Tip Ranks CURLF stock has a 12-month average price target of $9.22 per share. In this case, this would represent an upside of 42.95% from its last trading price of $6.45.
Cresco Labs Inc.
Cresco Labs is a cannabis company established in the United States with a vertically integrated corporate structure. Currently, the company is the nation’s largest manufacturer of branded cannabis products. According to a BDSA study, Cresco is the marijuana brand that people in Illinois and Pennsylvania prefer the most. Cresco operates in 11 states and has 53 retail outlets, 20 manufacturing facilities, and 47 retail licenses. Sunnyside inaugurated its fourth dispensary in Pennsylvania as a part of its growth plan. The Good News product line will expand, the business claims, to include fresh consumables and vape solutions. The business will stop distributing in California through third parties and switch to owned brand distribution in order to boost profitability. On August 17th Cresco delivered second-quarter revenue of $218 million, up 4% year-over-year.
The company reported an Adjusted gross profit of $116 million, or 53% of revenue, an increase of 8% year-over-year, excluding fair value markup for acquired inventory and cost of goods sold adjustments for acquisitions and other non-core costs. Cresco delivered a second-quarter adjusted EBITDA of $51 million, or 23% of revenue, an increase of 11% year-over-year. In general, wholesale revenue was $95 million, which maintained the company’s position as the no. 1 U.S. seller of branded cannabis products with leading share positions in the flower, concentrates, and vape categories.
In Massachusetts, the company won the most branded shares, and it also held the top spot in Illinois and Pennsylvania. Same-store sales grew 6% over the previous year, while retail revenue increased 22% to $123 million, or $2.5 million per average shop operating during the quarter. Additionally, on July 8, the shareholders of Columbia Care approved the previously disclosed, all-stock acquisition by Cresco Labs. The company is still working to close the deal before year’s end.
CRLBF Stock Performance
CRLBF shares finished on September 2nd at $4.13, up 18.48% in the last month. The stock is presently trading in a 52-week price range of $2.42-$10.42, showing a 39.43 percent decline year to date. According to analysts at CNN Business CRLBF stock has a 12-month median price target of $8.77 per share. In this case, this represents an upside of 112.35% from its last trading price of $4.13.
Columbia Care Inc.
Columbia Care Inc.’s presence will significantly increase in the New York region. The company, one of the biggest cannabis growers on the East Coast, just purchased a 34-acre Long Island facility. Currently, Columbia Care operates 131 locations—99 dispensaries and 32 growing and processing facilities—in 18 American cities. In October 2021, the company unveiled a marijuana dispensary at its first site in Missouri. The business recently disclosed the opening of the third gLeaf dispensary in Virginia. On March 23, Columbia Care was purchased by Cresco Labs Inc. (OTC: CRLBF), the largest MSO in the US, for a $2 billion total enterprise value.
In August, the company announced quarterly sales for the second quarter of 2022 of $129.6 million, an increase of 5% QoQ and 18% YoY. Additionally, overall earnings rose to $50.8 million, up 17% YoY. The firm currently has 84 operational retail outlets; no new ones were added in Q2 2022, which is also important. Columbia Care projects continued sequential top-line growth in the mid-single digits for each of the next two quarters. Additionally, the company expects quarterly increases in market level EBITDA margin over its YTD figures of between 150 and 250 basis points. The Supreme Court of British Columbia approved the corporate merger of Cresco Labs and Columbia Care in July.
CCHWF Stock Performance
CCHWF stock closed on September 2nd at $2.04 up 16.91% in the last month of trading. Currently, the stock has a 52-week range of $1.23-$4.61 down 28.68% year to date. According to analysts at Tip Ranks CCHWF stock has a 12-month average price target of $3.75 per share. In this case, this is an upside of 83.82% from its last trading price of $2.04.
Watching Top US MSOs In September 2022
These pot stocks may gain traction for 2022 as a result of numerous potential catalysts that could occur in the upcoming months. Finding the best cannabis companies in the market can be facilitated by investigating their financials and press releases. Taking advantage of the current market volatility, many active traders are actively investing in the top cannabis stocks on a short-term basis. You can find the greatest setups before opening a position by using technical indicators and chart patterns. By doing so, you can find profit-taking opportunities and improve your odds of making lucrative trades. These might be some of the top marijuana stocks to watch this month as September gets underway with momentum for top marijuana stocks.
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