Looking for the best marijuana stocks to buy in January? 3 for your list next week
Best cannabis stocks in Q1 2022
Are you on the hunt for the best marijuana stocks to buy for 2022? To kick off the new year, the best cannabis stocks to invest in have already started to experience significant market volatility. In 2021, most of the cannabis industry saw substantial declines as the year progressed. This is primarily related to delays in completing federal marijuana legalization and reform in the United States. In 2021, many leading MSOs generated strong profits throughout the year. Unfortunately, this did not translate into any gains in the market.
Instead, most of the cannabis industry has only negotiated over the possibility of reaching the end of the federal marijuana ban. In the United States, at the state level, the cannabis industry has grown rapidly with many new states establishing legal medical and recreational markets in 2022. Currently, more than two-thirds of Americans believe cannabis should be legalized. at the federal level.
In Congress, there has been a bipartisan push to try to pass legislation through the House. But these attempts continue to be stopped in the Senate where lawmakers are trying to reach an agreement on decriminalization. As this process continues into 2022, it appears the cannabis industry has assessed the possibility of not completing federal cannabis reform this year. Because of this, major marijuana stocks can begin to trade off the fundamentals of the business instead of just legalization.
Better pot stocks and make better investment decisions
Before investing in the best stocks, it is important to do your due diligence on a company. In general, researching a company, its results, and its press releases can help you find the top performers in the industry. Also, studying the performance of a stock in the market and finding the best trading setup for your position are important factors in becoming a successful trader. As we start news for cannabis stocks, current prices may offer future potential for cannabis investors. Let’s take a look at the top 3 marijuana stocks to add to your watchlist for Q1 2022.
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The best cannabis stocks to watch right now in January
- Green Thumb Industries Inc. (OTC: GTBIF)
- Verano Holdings Corp. (OTC: VRNOF)
- TerrAscend Corp. (OTC: TRSSF)
Green Thumb Industries Inc.
Green Thumb Industries Inc. is a major player in the US market for packaged cannabis consumer products. The company currently has 73 outlets in 15 states, due to the recent acquisition of Leafline Industries in Minnesota. GTI currently has 111 licenses for retail outlets and plans to expand. As part of a unique agreement with the private label Cookies, GTI created a Cookies on the Las Vegas Strip in 2021. Green Thumb recently announced that it has completed the acquisition of Dharma Pharmaceuticals and has also entered into the cannabis industry in Virginia.
Green Thumb reported revenue of $ 233.7 million for the third quarter of 2021 in November, up 48.7% year-over-year. The company’s GAAP net income of $ 20.2 million, or $ 0.08 per diluted share, was up for the sixth consecutive quarter. In addition, Adjusted Operating EBITDA increased to $ 81.2 million, representing 34.7 percent of total sales. Green Thumb has $ 285.8 million in cash at the end of the third quarter. Green Thumb merchandise became more widely available and traffic at all 68 dispensaries increased, driving the business forward.
GTBIF share performance
GTBIF title closes on January 7e at $ 20.84 and is down 5.96% over the past five days. Currently, the stock has a 52-week price range of $ 18.36 to $ 39.11 and has fallen 36.89% in the past six months. GTBIF stock has a 12-month median price target of $ 43.71 per share, according to CNN Business analysts. In this case, that would represent a rise of 109.76% from its last stock price of $ 20.84. As long as GTBIF’s stock remains at this level, it could be a top US cannabis company to watch in 2022.
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Verano Holdings Corp.
Verano Holdings is a multi-state cannabis company that provides legal cannabis products to its customers. The company, in general, produces high-quality cannabis products that are offered under various brands. Verano, for example, has 90 dispensaries and 12 growing and processing facilities in 11 states. In Florida, the company has 41 dispensaries, giving it a prominent place in the state. Verano plans to build more than 92 dispensaries by 2021. Zen LeafTM and MUVTM, the company’s retail brands, operate dispensaries that serve both medical and adult consumers. In October, the company opened a drive-thru dispensary on Flamingo Road in Las Vegas. Verano acquired Carin Nature, LLC and Pharmaceutical Solutions, Inc, both of which have operational dispensaries in Connecticut, in December.
Verano has just purchased TerraVida and The Healing Center. As a result of the agreement, Verano now controls six dispensaries in Pennsylvania and has permission to establish three more. Earlier this year, the company opened a flagship dispensary in Pittsburgh with a four-lane drive-thru. In November, the company reported third quarter 2021 revenue of $ 207 million, up 106% from the previous year. In addition, gross margin increased 33% sequentially to $ 133 million, or 64% of revenue, on an unadjusted basis. In the third quarter, Verano extended its reach by opening seven additional dispensaries in its core markets.
VRNOF share performance
VRNOF stock closed at $ 12.56 on January 7e up 15.02% last month. Right now, the stock has a 52-week price range of $ 9.68 to $ 28.00 and has fallen 19.69% in the past six months. According to analysts at Tip Ranks, VRNOF stock has a 12-month average price target of $ 32.53 per share. In this case, that would represent a 159% increase from its last stock price of 12.58. In January, VRNOF’s stock could be one of the best marijuana stocks to buy in 2022.
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TerrAscend is a Canada and United States-based cannabis company that cultivates and distributes medical and adult cannabis. With operations in Pennsylvania, New Jersey and California, the company is a leading cannabis operator in the United States. TerrAscend operates facilities in Maryland and Canada that are licensed to grow and process cannabis. The company focuses on the creation and marketing of products derived from hemp and cannabis, as well as artisanal cannabis specialties. TerrAscend has launched a line of Kind Tree branded products in Maryland. Under the Kind Tree brand, the Maryland plant now produces 15 varieties of flowers, and it will soon be adding half-gram vapes and pre-rolls to the mix. TerrAscend announced the appointment of Ziad Ghanem as President and Chief Operating Officer on January 5.
In November, the company reported net sales of $ 49.1 million for the third quarter of 2021, up 29% year-on-year but down 16% sequentially. As a result, TerrAscend’s adjusted gross profit margin increased from 59% in the third quarter of 2020 to 46%. TerrAscend has also agreed to be the sole New Jersey grower and manufacturer of COOKIES branded products, pending regulatory approval, and to provide COOKIES to its three dispensaries. The acquisition of Gage Growth Corp. in Michigan was prequalified in September (OTC: GAEGF).
TRSSF stock closed at $ 6.04 on January 7e up 5.59% last month. Currently, the stock has a 52-week price range of $ 4.89 to $ 16.25 and has fallen 42.20% in the past six months. According to analysts at Tip Ranks, TRSSF stock has a 12-month average price target of $ 10.90 per share. In this case, that would represent an increase of 80.49% from its last price of $ 6.04.
The post Looking for the Best Marijuana Stocks to Buy in January? 3 For Your List Next Week Appeared First On Marijuana Stocks | Cannabis investments and news. Roots of a budding industry. (TM).
COMTEX_400254789 / 2683 / 2022-01-09T10: 01: 54
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