Top Marijuana Stocks To Watch For Momentum In The Stock Market
Marijuana stocks could see better momentum to start the week. Now the reason for this is due to a few factors. For marijuana stocks, the start of a new week brings positive speculation. Especially inside it an industry that is still young and developing. So when an industry is growing and working out its regulatory process just like cannabis it can lead to a double edge sword. The first side is more people looking for marijuana stocks to buy on the basis that once federal reform is in place the value will rise.
The second side is fear which can create a bit of sell-off in the event cannabis doesn’t see the end of prohibition anytime soon. It really comes down to what you believe and how you will hedge your bet on legal cannabis now and in the future. This is essentially how speculation works altogether. When you think that their potential in the current or near future it most times leads to more buying.
So for those who feel legal cannabis is something you want to invest in without physically dealing with the plant or products pot stocks are a good starting point. Through good due diligence and timing and execution correctly you could make good money on your investment. The companies mentioned below are several options to consider this week.
Marijuana Stocks To Watch To Start The Week
Verano Holdings Corp.
Verano Holdings Corp. operates as a vertically integrated multi-state cannabis operator in the United States. It engages in the cultivation, processing, wholesale, and retail distribution of cannabis throughout various states in the USA. In recent news, the company announced the opening of Zen Leaf New Kensington. This location makes for Veranos 15th affiliated Pennsylvania dispensary and its 117th location nationwide.
Words From The Company
“Opening Zen Leaf New Kensington is another positive step forward for our business in Pennsylvania, one of Verano’s core markets,” said George Archos, Verano Founder and Chief Executive Officer.
Planet 13 Holdings Inc.
Planet 13 Holdings Inc. is an integrated cannabis company, engages in the cultivation, production, distribution, and marketing of cannabis and cannabis-infused products for medical and retail cannabis markets in Nevada, the United States. Back on August 15th, the company released its Q2 2022 earnings.
- Revenues were $28.4 million as compared to $32.8 million, a decrease of 13.5%
- Gross profit was $13.8 million or 48.7% as compared to $19.0 million or 57.9%
- Net income before taxes of $0.9 million as compared to a net loss of $2.6 million
- Net loss of $2.0 million as compared to a net loss of $5.6 million
- Adjusted EBITDA of $3.0 million as compared to Adjusted EBITDA of $7.2 million
Words From The CEO
“Q2 was a big quarter for advancing our growth initiatives. We secured our cultivation property in Florida. We entered into an option agreement to purchase the remaining ownership in our subsidiary which holds an Illinois dispensary license. In Nevada, consumption lounge legislation was finally passed and we’ve completed our premium, indoor cultivation expansion and are just waiting on final approvals,” commented Bob Groesbeck, Co-CEO of Planet 13.