Top Canadian Marijuana Stocks To Buy In October?
Marijuana stock investors are on watch looking for positive in both the ups and downsides. Why you may ask? The reason is the speculation that is occurring in the sector. To begin the upside is for those who have good positions that have been able to take profits from the recent upward trading. Now when the pullback sets in it gives people the chance to find the best marijuana stocks to buy. As well if people have shares of marijuana stock and the company continues to fall it may be wise to add more shares. Adding more shares of marijuana stock on its decline can lower the cost of your position. This gives you an advantage in seeing better gains when a recovery occurs.
The more you know about a company the better insight you will have on which marijuana stocks are the better investments. Most top marijuana stocks perform with an unpredictable pattern in the market caused by volatility. When there are increased levels of volatility like now it makes it more of a challenge to see the gains shareholders once did. Nevertheless, there are still many ventures and legislative hurdles to overcome for the cannabis industry. So if you are looking to invest in marijuana stocks now could be a good time to find which companies to add to your portfolio. As mentioned above just make sure to conduct good due diligence beforehand.
Top Marijuana Stocks To Watch In 2022
- Tilray Brands, Inc. (NASDAQ:TLRY)
- Canopy Growth Corporation (NASDAQ:CGC)
Tilray Brands, Inc.
Tilray Brands, Inc. engages in the research, cultivation, production, marketing, and distribution of medical cannabis products in Canada, the United States, Europe, Australia, New Zealand, Latin America, and internationally.
The company operates through four segments: Cannabis Business, Distribution Business, Beverage Alcohol Business, and Wellness Business. Back on October 7th the company reported its Q1 earnings for the fiscal year 2023.
Financial Highlights – First Quarter Fiscal 2023
- Reported net revenue was $153.2 million. On a constant currency basis, net revenue remained strong at $166.5 million for the quarter.
- Maintained #1 position in Canada with 8.5% cannabis market share, driven by
- Tilray’s comprehensive portfolio of adult-use brands.
- International cannabis revenue was $10.4 million. On a constant currency basis, international cannabis revenue was $11.9 million.
- Achieved $108 million in annualized cash cost-savings since the closing of the
- Tilray – Aphria transaction in May 2021, up from $85 million as of May 31, 2022.
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Canopy Growth Corporation
Canopy Growth Corporation together with its subsidiaries, engages in the production, distribution, and sale of cannabis and hemp-based 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. The company recently announced the divesture of Canadian retail operations.
The Company has entered into agreements to divest its retail business across Canada which includes the stores operating under the Tweed and Tokyo Smoke retail banners. The announcement reinforces the Company’s focus on advancing its path to profitability as a premium brand-focused cannabis and consumer packaged goods (CPG) company.
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Words From The CEO
“We are taking the next critical step in advancing Canopy as a leading premium brand-focused CPG cannabis company while furthering the Company’s strategy of investing in product innovation and distribution to drive revenue growth in the Canadian recreational market,” said David Klein, CEO, Canopy Growth.