Top Cannabis Stocks To Watch Before January 1st

Are These Cannabis Worth Buying In 2022?

In the last few days, cannabis stocks have slowly started to see a small boost in momentum. Now, this push isn’t exactly something that is significant but its shows growth potential. Especially in a sector that has seen more downs than ups in the last year. What many are keeping a watch for is any possible changes that the sector may go through in 2022. So, for example, we all know the big priority and focus is ending cannabis prohibition. – MarijuanaStocks

Beyond just that there is much to watch for and for some be excited about. Which hopefully results in more upward consistency. This last year has been one of inconsistency and upset to a degree. To recap right before the start of 2021 marijuana stocks were showing solid movement. To the point where when a stock would dip it would recover quickly either to the same level or higher. The sector at the time showed health trading.

Now in the first month and a half of 2021 things began to change drastically. It was right after the second week of February when the start of this recent downtrend began. When it first started many felt things would ultimately bounce. So during this time, many started to buy the dips. Yet the sector continued to drop and cannabis stocks showed no life.

Marijuana Stocks To Watch As 2022 Is Soon To Begin

It wasn’t until the end of July early August that marijuana stocks started to wake up a bit. And from that time the sector has seen an increase in volatile spikes. However, facing the same issue a lack of consistency. This leads to a small window of upward trading that only very few are able to profit from. The reason or at least the majority of why this happened was the failed attempts at passing federal reform. This issue created a lot of doubt about what the future holds for marijuana stock investing. Still with 2022 soon to begin there are high hopes about things improving for cannabis stocks.

Marijuana Stocks To Watch Right Now In The Market

  1. Canopy Growth Corporation (NASDAQ:CGC)
  2. High Tide Inc. (NASDAQ:HITI)

Canopy Growth Corporation

Canopy Growth Corporation together with its subsidiaries, engages in the production, distribution, and sale of cannabis and hemp-based products. Which are products for recreational and medical purposes primarily in Canada, the United States, and Germany. It operates through two segments, Global Cannabis and Other Consumer Products. Over the last 4 weeks, Canopy has released important company updates.

marijuana stocks on robinhood Canopy Growth (CGC)

On November 19th the company announced changes to its executive management team. Mike Lee, Executive Vice President and Chief Financial Officer, and Rade Kovacevic, President and Chief Product Officer will be stepping down. Committee and will depart from the company on December 31, 2021. In the interim, they will serve in an advisory capacity to support the transition. In more recent news the company has entered into an agreement. This agreement is to divest its subsidiary business, C³ Cannabinoid Compound Company GmbH to Dermapharm Holding SE. The C³ business develops and manufactures pharmaceutical products.

With the divesture of C³, Canopy Growth is continuing its evolution into a CPG-modelled organization. As well as furthering its strategy of driving focus and consistent business across its core markets. The Company will continue to leverage its high-quality supply of Canadian cannabis products. These products will be for the medical channel in its core international markets. This includes Germany, while also serving adult-use consumers in Canada. As the company continues to grow 2022 is looking promising for this Canadian marijuana stock to watch.

[Read More] Best Marijuana Stocks To Buy For 2022? 2 Top US Cannabis Stocks For Your Watchlist Right Now

High Tide Inc.

High Tide Inc. engages in the cannabis retail business in Canada, Europe, the United States, and internationally. The company designs manufacture and distribute smoking accessories and cannabis lifestyle products. It is also involved in the wholesale and retailing of cannabis products, as well as operates and franchises licensed retail cannabis stores. In addition, the company provides data analytics services, as well as operates and platforms.

HITI Stock

In 2021 the company was able to achieve some notable milestones. For example, High Tide saw a total revenue for the nine months ended July 31, 2021 increase to CAD$127 million. These figures grew from CAD$58 million for the nine months ended July 31, 2020. Annualizing the revenue generated in the quarter ended July 31, 2021. As well as adding the disclosed annual contributions of Blessed CBD and NuLeaf Naturals. Which results in a current revenue run rate of approximately CAD$226 million.

[Read More] What Will Happen To Marijuana Stocks If Federal Reform Doesn’t Pass In 2022?

Next, the company improved its balance sheet through several transactions. This reduced the debt from CAD$72 million as of December 31, 2020, to CAD$31 million today. Another milestone is the company acquired six new e-commerce platforms outside of Canada. This was in the hemp-derived CBD and consumption accessories sectors. To which this led to an increase in the international revenue run rate. This was an increase from roughly CAD$11 million on January 1, 2021, to approximately CAD$80 million today. And last High Tide expanded its international customer database to over 2.92 million customers outside of Canada.

Source link

Previous US Marijuana Stocks For Your List In 2022
Next Garden Society Bring Cannabis Wine Gummies Home For The Holidays