Will These Marijuana Stocks See More Momentum This Month?
Marijuana stocks are still showing a good amount of volatile trading in the market. This up and down trading has been both a positive and negative thing. The negative side to this is the obvious drop in the sector. This causes some investors to feel a bit reluctant to continue to invest in the sector. Mainly due to how long it takes to see any type of recovery or rise in trading.
Now the positive side to volatile trading is when the sector starts to see an influx in the market. Yet when cannabis stocks are down it does give people a chance to find the best cannabis stocks to buy. Now in a down market relying on past trading patterns to make a buying decision is not the best.
Due to how much success is happening outside of the market it gives those better insight on what to invest in. In last year when a cannabis company has more progress, it was being used as buying metric. Meaning the more success or profitability a company has the more people will want to invest in it.
Marijuana Stocks To Watch Heading Into 2022
With the continued fight for federal cannabis reform, people have great anticipation for the future. What this means is right now part of this volatile action is also based on speculation. This speculation stems from the unknown of what will happen with the eventual passing of federal reform. In the past when positive news has surfaced on the matter its resonated well for cannabis stocks. Many believe with the eventual passing of the reform will trigger a possible bounce. This is also why people are going on a buying frenzy to be prepared in the event this run does happen. Nevertheless, always be prepared and do your homework beforehand. Below are a few marijuana stocks to watch before the start of 2022.
Top Marijuana Stocks To Watch This Year
Trulieve Cannabis Corp.
Trulieve Cannabis Corp. together with its subsidiaries operates as a medical cannabis company. The company cultivates and produces products in-house and distributes its products to Trulieve branded stores. Which is located in Florida, California, Massachusetts, Connecticut, Pennsylvania, and West Virginia. In recent news, the company announced the grand opening of its Okeechobee dispensary.
The Okeechobee location is Trulieve’s 111th. This new location only goes to show the true growth potential of the company. Even while in a down market and a pandemic has the company continued to flourish. Many look at the company as the top MSO in the cannabis industry. Florida is its most dominant market. Currently, Trulieve controls the better part of Florida’s medical cannabis market.
As well as being one top marijuana stocks to watch for many investors. Overall Trulieve has positioned its self to be an even more dominant company in the upcoming year. With all that is in the works, TCNNF stock could be a good buy before heading into 2022.
[Read More] Marijuana Stocks Vs Federal Cannabis Reform
Words From The Company
“Trulieve looks forward to expanding access to medical cannabis in Okeechobee and building strong relationships with the community,” said Kim Rivers, CEO of Trulieve. “Our company is driven by our commitment to providing tailored, high-quality patient care to as many patients as possible, and after opening more than 40 new dispensaries across the state this year, we are proud to expand our retail presence in southeastern Florida.”
Planet 13 Holdings Inc.
Planet 13 Holdings Inc. a cannabis company, cultivates, produces, distributes, and markets cannabis and cannabis-infused and related products for medical and retail cannabis markets in Nevada, the United States. On November 23rd the company announced its Q3 2021 earnings. At this time the company’s revenue reached $33 million. Which is an increase of 45% compared to Q3 of 2020. As well the Planet 13 Q3 2021 Adjusted EBITDA of $3.5 million.
Also, gross profits before biological adjustments were $17.6 million. Which is compared to $13.0 million or 56.9%. Another highlight is the company’s total assets of $220.5 million as compared to $150.0 million. And cash of $73.7 million as compared to $79.0 million. The company has been building and developing over the years. In Nevada, it holds a strong presence and offers a unique experience to cannabis consumers. As Planet 13 furthers its progress more people look at the company as cannabis stocks to watch for the future.
Words From The CEO Of Planet 13 Holdings Inc.
“We continued to drive strong performance during the quarter from our core Las Vegas operations,” said Larry Scheffler, Co-CEO of Planet 13. “Along with our dispensary operations, our product brands are performing well with Trendi vapes seeing 110% dollar sales growth year over year according to Headset. It now makes up about ~5% of Vape sales and 7% of Concentrate sales and HaHa edibles was ~14% of edibles sales in the State.”