US Marijuana Stocks In June
Are you looking for the best marijuana stocks to invest in now that the market is at new lows? Cannabis stocks fell to new lows for 2022 last week as the stock market recorded fresh lows across the S&P 500, Dow Jones, and Nasdaq. Long-term investment becomes difficult in a market situation like this one when rallies appear to be followed by more declines. Trading short-term is one approach to profit from the present market volatility.
Day traders and swing traders tend to make the greatest money when trading in a market like this one. Some long-term cannabis investors choose to trade around their long-term core assets using short-term strategies. This allows them to profit when the stock’s price fluctuates daily.
Despite the fact that there has been no federal action to legalize cannabis, the sector has developed fast throughout the states. MSOs in the United States recently exceeded all other income generators on the planet. Since the epidemic, they’ve fared better than Canadian LPs. As the market reaches new lows in June, let’s take a look at three of the best marijuana stocks in the US right now.
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Top US Marijuana Stocks To Watch In June
- Curaleaf Holdings, Inc. (OTC: CURLF)
- Cansortium Inc. (OTC: CNTMF)
- Verano Holdings Corp. (OTC: VRNOF)
- Ayr Wellness Inc. (OTC: AYRWF)
Curaleaf Holdings, Inc.
Curaleaf Holdings, Inc., a multi-state cannabis retailer with 134 retail locations in the United States, manufactures packaged cannabis products. Additionally, Curaleaf International’s Adven GmbH, a wholly-owned subsidiary, has begun marketing medicinal cannabis products in Germany. In the United States, Curaleaf’s Select brand is one of the most well-known. After buying Tryke Companies in November, Curaleaf expanded its operations to three additional states. The corporation currently has properties in Arizona, Nevada, and Utah in its portfolio. The company inaugurated its 50th site in Florida on May 6th. Curaleaf announced in May that Matt Darin will take over as CEO.
The company announced first-quarter 2022 results on May 9th, with revenues of $313 million, up 20% year over year. In addition, Adjusted EBITDA was $73 million in the first quarter of 2022, and cash flow from operations was $57.4 million. Los Suenos Farms was also acquired, bringing the total cultivation capacity of the corporation to 4.4 million square miles. Curaleaf is a well-known cannabis shop in New Jersey.
On June 17th CURLF shares closed at $5.21, down 9.55% in the last month of trading. The stock is currently trading in a 52-week range of $5.06-$15.02 and is down 42.11% year to date. According to analysts at Tip Ranks CURLF stock has a 12-month average price target of $13.51 per share. In this case, this would represent an upside of 163.35% from its last trading price of $5.21.
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Cansortium Inc. is a cannabis company established in Florida that specializes in high-quality cannabis. The company now has locations in Texas, Michigan, and Pennsylvania. With a $90 million loan and stock agreement, Cansortium is expanding its reach in Florida and Pennsylvania this year. The company just launched a dispensary in Fruitland Park, Florida. Cansortium has 27 dispensaries in Florida, making it one of the largest dispensary networks in the state. Under the Fluent brand, Fluent provides a wide selection of high-quality dried flower, consumables, full-spectrum extracts, cartridges, and lotions.
Sales increased 30% year over year to a record high of $19.7 million, with preliminary April revenue of $7.5 million, according to the company’s first-quarter 2022 results released in May. In addition, the company’s Q1 Adjusted EBITDA hit a new record of $6.2 million, up 42 percent year over year. Importantly, the company reiterated a $90-$95 million revenue prediction for 2022, as well as a $25-$28 million adjusted EBITDA outlook. The state of Florida saw a 26.6 percent increase in revenue, from $13.1 million to $16.6 million. Thanks to Cansortium’s Florida cultivation, Fluent in Homestead and Sweetwater now has more greenhouse facilities.
On June 17th, CNTMF stock finished at $0.1894, up 18.30% in the past month. The stock is now trading in a 52-week price range of $0.132-$1.08 and is down 71.74 percent year to date.
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Verano Holdings Corp.
Verano Holdings is a marijuana corporation that operates in many states and sells legal marijuana to customers. Under numerous brand names, the company provides high-quality cannabis products. Verano now has 100 dispensaries and 12 production and processing facilities in 15 states. The company has 47 dispensaries in Florida, providing it a significant presence in the state. The company’s retail brands, Zen LeafTM and MÜVTM, run dispensaries that cater to both medical and adult-use clientele. The startup opened a drive-through dispensary on Flamingo Road in Las Vegas in October. On May 26th, Verano announced the opening of Zen Leaf Westover, the company’s second dispensary in the state and its 100th overall in Pennsylvania.
In May, the company reported first-quarter 2022 results, with sales jumping 67 percent to $202 million compared to the same period in the previous year. Furthermore, in the first quarter of 2022, gross profit was $100 million, or 49 percent of revenue, compared to $54 million in the first quarter of 2021. In the first quarter of 2022, Verano reported a $7 million net loss, compared to a $2 million loss in the first quarter of 2021. Importantly, in Q1 2022, the company generated $81 million in unadjusted EBITDA, or 40% of sales, and $81 million in adjusted EBITDA, or 40% of revenue.
VRNOF shares closed at $7.10 on June 17th down 10.35% in the past five trading days. Currently, the stock has a 52-week price range of $6.77-$19.00 and is down 43.56% year to date. According to analysts at Tip Ranks VRNOF stock has a 12-month average price target of $24.24 per share. This would represent an increase of 239.02% from its last trading price of $7.10.
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Ayr Wellness Inc.
Ayr Wellness Inc. is a large-scale cannabis company situated in Florida. The company now has 47 dispensaries in Florida, with a total of 64 sites around the country. The firm also bought Herbal Remedies Dispensaries, LLC, which allowed it to expand into Illinois. Ayr has been given permission to sell adult-use cannabis on a large scale in Massachusetts dispensaries. In Pennsylvania, the company has launched its sixth associated functioning dispensary. Ayr received permission to open its 86,000-square-foot growing and processing plant in Arizona in December. The company finalized the acquisition of Levia Cannabis-Infused Seltzer on February 15th, marking a significant advancement in the beverage sector.
The company made $111.2 million in revenue in the first quarter of 2022, increasing 90 percent year over year. Additionally, adjusted EBITDA in the first quarter of 2022 was $19.5 million, up 6% year over year. In Q1 2022, the company recorded a $21.1 million US GAAP Operating Loss. In Q4 2022, Ayr expects to generate $250 million in Adjusted EBITDA, $100 million in operating income, and $800 million in sales. The Company had a cash balance of $78.7 million at the end of the quarter. AYR debuted Entourage Vape Offerings in Florida in March. On June 13th Ayr Wellness announced it will begin adult-use sales in its three New Jersey dispensaries.
AYRWF stock closed on June 17th at $5.02 down 14.77% in the past five trading days. Currently, the stock has a 52-week price range of $4.61-$31.60 and is down 66.93% year to date. According to analysts at Tip Ranks AYRWF stock has a 12-month average price target of $18.76 per share. In this case, this would represent an upside of 274.45% from the last price of $5.02.
Best Marijuana Stocks In This Market Volatility
Analyzing a company’s financial reports and news releases could help you determine which assets are best for your portfolio and trading style. You may make better market decisions by understanding chart patterns and technical indicators. The current volatility in the cannabis market in June may present an opportunity for active traders. There are a few factors that might reignite the cannabis stock market in 2022. Any federal cannabis legalization legislation that passes could provide a huge boost to top US marijuana stocks.