2 Marijuana Stocks To Watch At The End Of December



2 Marijuana Stocks To Watch As December Comes To An End

As 2022 is set to begin some marijuana stocks are starting to show a small increase in momentum. Now, this could be due to the upcoming new year and the anticipation. Shareholders and investors are keeping an optimistic attitude while others are uncertain. Much of this comes from the failure to enact federal cannabis reform. Particularly the ending of cannabis prohibition.

Marijuanastocks.com – MarijuanaStocks

A lot of people involved in cannabis stock investing feel this will be the saving grace both in and out of the market. For instance, history has shown that any positive news usually results in better trading in the sector. In addition to that ending, prohibition has the potential to pump life into other global cannabis markets.

Specifically, Canada and Europe. As Canada’s market is developed but having issues turning larger profits. And the other one is just getting set up and is slowly progressing. With the termination of cannabis prohibition ventures that were once federal illegal will now have a path to happen.

Along with the possible passing of federal reform more states are soon to vote on cannabis legalization. Currently more than half of the United States has legalized marijuana in some form. So with the possible increase in more legal states, MSO and pure-play cannabis stocks may see some more momentum. This is only because out of the market MSO and pure plays are typically the first to enter new markets.

Cannabis Industry Updates And Market Info

So as the cannabis industry continued to grow many are keeping positive that 2022 won’t be like this past year. Many want to figure out other ways for cannabis stocks to sustain better upward trading. Hopefully, as cannabis companies show more progress it will help create better momentum as it once did. As 2022 is soon to begin this past year has been a chance to buy top marijuana stocks. So people kept buying the dips in preparation for a possible run this upcoming year. With that said the cannabis stocks to watch below are just a few to keep in mind.

Top Marijuana Stocks To Watch In 2022

TerrAscend Corp. (OTC:TRSSF)
Glass House Brands Inc. (OTC:GLASF)

TerrAscend Corp.

TerrAscend Corp. cultivates, processes, and sells medical and adult-use cannabis in Canada and the United States. It produces and distributes hemp-derived wellness products to retail locations; and manufactures cannabis-infused artisan edibles. The company also operates three retail dispensaries under the Apothecarium brand name in California and Pennsylvania. Back on November 16th, the company released its Q3 financial results.

TRSSF

At this time net sales increased 29% year-over-year to $49.1 million and declined 16% sequentially. As well the company had an adjusted EBITDA of $10.5 million. This is compared to $13.2 million in Q3 2020 and $24.3 million in Q2 2021. The company has a cash balance of $103 million at quarter-end to support growth initiatives.

Words From The Company

Jason Wild, Executive Chairman of TerrAscend, commented, “I am pleased with the improvements made in Pennsylvania since we withdrew the full year 2021 guidance in August. The ratio of quality flower to trim from recent harvests has increased dramatically. Additionally, THC and Terpene potency has been testing at all-time highs. In New Jersey, we are well prepared for adult use once the state gives us the go-ahead. Our New Jersey Apothecarium dispensaries will have some of the best selection and depth of product available in the state at launch. We are building this business for success over the long term and will continue to make decisions with that mindset. For the 4th quarter, we expect to show sequential revenue and adjusted EBITDA growth with these positive trends accelerating into 2022.”

[Read More] 3 Canadian Marijuana Stocks To Watch Before The Start Of 2022

Glass House Brands Inc.

Glass House Brands Inc. cultivates, manufactures, produces, and retails cannabis. It offers cannabis products under the Glass House Farms, Forbidden Flowers, and Mama Sue brands. The company was founded in 2015 and is based in Long Beach, California. In recent news, the company announced that it has executed a definitive agreement. This agreement is to acquire the business of Plus Products Inc. Glass House is acquiring PLUS for approximately US$25.6 million.

GLASF

This is being done through a combination of unsecured convertible debt2 and equity. Plus additional performance-based consideration. Glass House is working to create the largest cannabis brand-building platform in California. The Company’s house cannabis brand, Glass House Farms, was the No. 1 ranked flower brand by sales in California in Q3 2021. PLUS is a leading edibles brand in California with the No. 4 ranked edibles brand by sales in Q3 20213.

[Read More] Top Marijuana Stocks To Watch In The US Cannabis Industry

Words From The CEO

“As one of the fastest-growing categories in cannabis, edibles are a key component of the Glass House growth strategy,” said Kyle Kazan, Glass House’s CEO. “PLUS has built a very strong brand in the gummy segment, and in the very competitive California and Nevada markets, no less. PLUS’ diverse and well-recognized line of edibles, including dual-action sleep and strain-specific products, is the ideal complement to our portfolio. Our vertically integrated platform will allow us to expand the distribution of PLUS to the more than 700 stores in our network, as well as to our own retail stores, as we pursue top sales ranking in both flower and edibles categories in the country’s largest market.”



Source link

Previous Best Marijuana Penny Stocks To Buy Before 2022? 2 To Watch As The The Year Ends
Next 5 Top Weed Stores We Toured This Year