Are These The Canadian Marijuana Stocks Investors Are Watching Right Now?
Right now is a volatile time for most marijuana stocks. For a long while most marijuana stocks have been inconsistent trading behavior. This has played an intricate part in the more cautious investing when it comes to cannabis stocks. When this up and down behavior goes on it’s a double-edged sword for investors. On one hand, it’s a chance to take profits before any decline in trading starts to happen. Yet when a decline does happen it’s a chance to find marijuana stocks to buy. Even with the sector having more red days than green companies outside of the market have been having great success. The progress some of the cannabis companies have had are creating speculation for investors. For example, the company could be down at the moment but due to them being profitable it could be worth buying and holding.
Also, the success of any cannabis company only adds to the positive growth of the cannabis industry. Most times when an upswing does happen cannabis companies that are doing well as a business tend to see that upward push. Now the issue as mentioned above the recoveries that have taken place are short-lived. When it comes to investing in the cannabis sector you want to build a game plan that gives you the best chance at less risk and more reward. This comes with research patience and proper execution due to how unpredictable the sector can be. Still, with plenty of ways to get involved in the sector, there are several options to consider if you are looking for the marijuana stocks to watch right now
Top Marijuana Stocks To Watch Right Now
- Tilray Brands, Inc. (NASDAQ:TLRY)
- OrganiGram Holdings Inc. (NASDAQ:OGI)
- Sundial Growers Inc. (NASDAQ:SNDL)
Tilray Brands, Inc.
Tilray Brands, Inc. engages in the research, cultivation, production, marketing, and distribution of medical cannabis products. It operates through five segments: Cannabis Business, Distribution Business, Beverage Alcohol Business, Wellness Business, and Business Under Development. Back on June 14th, the company announced enhancements to the accretive strategic transaction with HEXO. Amended terms include an increased discount on the purchase price of the HEXO note. As well as a reduced Tilray conversion price on HEXO shares. This reaffirms $80 million in projected shared cost-saving synergies and is expected to close in July 2022.
Words From The CEO
Irwin D. Simon, Tilray Brands’ Chairman, and CEO said, “We believe HEXO continues to be the right strategic partner for Tilray Brands in Canada and, therefore, look forward to closing this transaction in July and working with HEXO to deliver on the promise and the potential of this partnership for our shareholders, consumers, and employees.”
OrganiGram Holdings Inc.
OrganiGram Holdings Inc. through its subsidiaries produces and sells cannabis and cannabis-derived products in Canada. Over the last 4 weeks, the OGI stock has not seen the best overall trading. The company has been faced with a slow decrease in momentum which ultimately led to a bigger drop in trading. From the 6th to the 8th of June it seemed as if OGI stock was going to sustain its momentum.
But shortly after this time is when the company saw its biggest so far this year. However in recent trading, OGI stock has once again started to recover. Hopefully, the company can continue its climb this week. It’s been some time since the company has released any news. The company released its Q2 fiscal 2022 results back in April.
[Read More] Cannabis Industry Trends To Watch For In 2022
Key Mentions For Q2 Fiscal 2022 Earnings
- Achieved gross revenue of $43.9 million, up 128% from the same prior-year period and consistent with Q1 Fiscal 2022, despite the impact of seasonality
- Continued record growth in net revenue, reaching $31.8 million, the highest in the history of the Company, up 117% from $14.6 million in the same prior-year period and 5% from $30.4 million in Q1 Fiscal 2022
- Achieved positive Adjusted EBITDA of $1.6 million, two quarters ahead of the Company’s initial estimate
- Reached 8.2% market share1 in February 2022, the #3 position among Canadian licensed producers for the second month in a row1
- Maintained #1 position in dried flower, the largest category, which represents approximately half of the Canadian cannabis market1
Sundial Growers Inc.
Sundial Growers Inc. engages in the production, distribution, and sale of cannabis products in Canada. The company operates through Cannabis Operations and Retail Operations segments. In recent news, the company announced it has entered into a Bid agreement for Zenabis Global Inc.s assets. The assets covered by the Bid Agreement include the 380,000 square foot indoor growing facility located in Atholville, New Brunswick. This facility has an annual production capacity of approximately 46,000 kgs of dried cannabis and 15,000 kgs of extraction capacity. The facility received EU GMP certification, providing a license to the facility to export internationally.
For instance places like Israel, Malta, the United Kingdom, and the EU. Zenabis Group also has a joint venture agreement with ZenPharm Limited, based in Malta, allowing for commercial bulk imports into Malta from the facility in Atholville. In addition to subsequent exports of finished medicinal cannabis products to countries of the EU and United Kingdom. The Bid Agreement also provides for the acquisition of a decommissioned 255,000 sq. ft. indoor facility in Stellarton, Nova Scotia. This particular site was used for packaging, processing, and value-added cannabis product manufacturing facility.