Top Marijuana Stocks For Q1 2022
Are you looking for the best marijuana stocks to buy for 2022? At the present time, many of the top cannabis stocks are trading near lows recently set in the last few months. This is mostly due to delays with US federal cannabis legalization in Congress. Currently, the cannabis sector is growing rapidly on the state level. In December markets like Michigan saw more than $135 million in recreational cannabis sales and approximately $33 million in medical marijuana sales.
These figures are just one example of the markets that are developing across the country. In 2021 leading US MSOs became some of the largest cannabis companies in the world with some producing more revenue than the largest LPs. Now as 2022 brings in new markets top tier MSOs could see significant growth for the next five years.
According to a recent report from Statista US sales of legal recreational cannabis are estimated to reach $25 billion by 2025. In 2021 US sales are estimated at $14.9 billion showing significant growth potential for the young industry. Since top-tier US marijuana stocks have seen significant declines in the past six months they could be primed for upside. In general, leading cannabis companies continue using mergers and acquisitions to rapidly expand their footprints.
Finding Top Pot Stocks And Starting Positions
Before investing in cannabis stocks, it’s important to do your own research on a company. Looking into how a stock performs in the market to establish the best entry for your position is key to making good investments. Because there still is a strong possibility the US ends marijuana prohibition soon the cannabis sector could have future catalysts. Making a watchlist of the best marijuana stocks to buy in 2022 can allow you to narrow down the top companies. As we continue to see more interest in top cannabis stocks right now let’s look at 2 top US pot stocks for your watchlist in January.
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Top Marijuana Stocks For Your List In 2022
- Green Thumb Industries Inc. (OTC: GTBIF)
- Curaleaf Holdings, Inc. (OTC: CURLF)
Green Thumb Industries Inc.
Green Thumb Industries Inc. is a major player in the U.S. cannabis consumer packaged goods market. As it stands the company currently has 73 retail sites throughout 15 states, including a new facility in New Jersey. GTI currently has 111 licenses for retail outlets and plans to expand. As part of a unique deal with the privately held Cookies Brand, GTI opened a Cookies on the Las Vegas Strip in 2021. Green Thumb recently announced that it had completed its acquisition of Dharma Pharmaceuticals and had entered the Virginia cannabis industry. The company entered the Minnesota market through the acquisition of Leafline Industries.
Green Thumb reported revenues of $233.7 million for the third quarter of 2021 in November, increasing 48.7% year over year. The company’s GAAP net income of $20.2 million, or $0.08 per diluted share, is up for the sixth quarter in a row. Additionally, adjusted operating EBITDA increased to $81.2 million, accounting for 34.7 percent of total revenue. Green Thumb had $285.8 million in cash on hand at the end of the third quarter. Green Thumb merchandise became more widely available, and traffic at the 68 dispensaries increased, propelling the company forward.
GTBIF stock is trading at $20.85 on January 11th down 5.32% in the last month. Currently, the stock has a 52-week price range of $18.36-$39.11 and is down 38.10% in the last six months. According to analysts at CNN Business GTBIF stock has a 12-month median price target of $43.71 per share. In this case, this would represent an upside of 109.86% from its last trading price of $20.85.
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Curaleaf Holdings, Inc.
Curaleaf Holdings, Inc. is a multi-state cannabis retailer that sells packaged cannabis products and has 113 retail locations across the United States. In addition, Curaleaf International, a wholly-owned subsidiary of the corporation, has launched operations in Germany, increasing access to medicinal cannabis products through its totally owned company Adven GmbH. In the United States, Curaleaf’s Select brand is one of the most well-known. After acquiring Tryke Companies in November, Curaleaf expanded its operations to three other states. The corporation presently has properties in Arizona, Nevada, and Utah in its portfolio. Curaleaf has also expanded its cooperation with B Noble to 10 states, including the medical business in New York. The B Noble company is attempting to improve its social equality.
In November, Curaleaf reported $317 million in sales for the third quarter of 2021, up 74 percent year over year. The company’s Adjusted EBITDA was $71 million, up 69 percent over the previous year. In Q3 2021, Curaleaf’s cash flow from operations was $52 million, or 16% of revenue. As a result, gross cannabis sales revenue in Q3 2021 was $144 million, up 61% year over year. Los Suenos Farms was also bought, bringing the total cultivation capacity of the corporation to 4.4 million square miles.
On January 11th, CURLF stock is trading at $8.39, up 6.52% in the past five trading days. The stock is currently trading in a 52-week range of $7.69-$18.38 and is down 40.68% in the past six months. CURLF stock has a 12-month average price forecast of $18.53 per share, according to Tip Ranks analysts. This projection indicates a 120.86% increase compared to the previous price of $8.39.
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