Best Cannabis Stocks To Watch In 2022
Are you looking for the best marijuana stocks to buy going into 2022? In December the top cannabis stocks to invest in have declined to their lowest trading levels in 2021 this month. This year delays with Congress passing any federal cannabis reform have severely impacted how pot stocks performed in the market. This year of declines could be a good opportunity for new investors looking to invest in the growing cannabis industry.
Around the world legal cannabis is becoming available as more countries legalize medical and recreational use across the globe. In addition, in the US regardless of delays with federal marijuana legalization on the state level, we continue to see rapid growth. This week in the market the Omicron variant concerns started trading on a downturn which has now seemed to reverse. Heading into Christmas it seems the Santa Claus rally is back on and delivering some upside to top pot stocks.
Heading into the new year current trading levels for top cannabis stocks could offer investors potential profits in 2022. In the US the cannabis market has grown significantly in the past two years. As more states establish medical and recreational markets the industry will continue growing rapidly in 2022. According to a recent report by New Frontier Data retail marijuana sales in the US are forecast to reach $43 billion by 2025.
Finding The Top Pot Stocks To Invest In Before 2022
Before investing in marijuana stocks, it’s always important to do your own research on a company. Looking into a company’s earnings and press releases can give you a better idea of which companies are the top-performing businesses. Additionally, it’s important to study how a stock performs in the market to establish the best entry point for your investment. With top cannabis stocks, it’s important to know that the cannabis sector is considered one of the most volatile areas in the market. Because of this volatility pot stocks are a higher risk-reward trade with potential for short-term trades and long-term investing.
As it stands investors have come to realize that we may not see changes to ancient federal cannabis prohibition policies with the current leaders in Congress. This has hurt cannabis stocks in 2021 but could allow top marijuana stocks to begin trading on fundamentals instead of solely trading on the possibility of federal cannabis reform. Let’s look at 2 top marijuana stocks for your watchlist in 2022.
Best Marijuana Stocks For Your List In January
Ascend Wellness Holdings, Inc.
With assets in Illinois, Michigan, Ohio, Massachusetts, and New Jersey, AWH is a vertically integrated operator. AWH primarily owns and operates cultivation facilities, where award-winning strains are grown and a carefully curated assortment of goods is produced. The company makes and distributes Ozone-branded products in general. Flowers, pre-rolls, concentrates, vapes, edibles, and other cannabis-related products are among the company’s cannabis product categories. AWH currently has 17 retail locations and offers its products to third-party licensed cannabis retailers. Ascend will expand its vertically integrated footprint in Ohio in October. The company announced the opening of a dispensary in Newton, Massachusetts in November. On December 22nd AWH announced the completion of the acquisition of Ohio Cannabis Clinic giving the company its second dispensary in the state.
AWH reported net revenue of $94.4 million in the third quarter of 2021, up 13.2 percent from the previous quarter. To emphasize, the company’s Adjusted EBITDA was $23.5 million, up 15.9% over the previous quarter. The total income of $105 million was up 131.4 percent from the previous year. The company had $204.5 million in cash and cash equivalents at the end of the third quarter. AWH also announced that it has brought Lowell Farms Inc.’s (OTC: LOWLF) brand Lowell Smokes pre-rolls to the Massachusetts market.
AAWH stock closed on December 22nd at $5.75 up 5.31% for the trading day. Currently, the stock has a price range of $5.16-$9.21 and is down 43.96% in the last six months. According to analysts at CNN Business AAWH stock has a 12-month median price forecast of $13.75 per share. In this case, this would represent an upside of 139.13% from its last trading price.
Glass House Brands Inc.
Glass House Brands Inc. is a cannabis and hemp company that is one of the fastest-growing in the United States. The company is focusing on the California market, where it is developing leading, long-lasting brands to satisfy consumers across all categories. Glass House Farms, Forbidden Flowers, and Mama Sue Wellness are just a few of the company’s brands that are doing this in general. The corporation acquired a 5.5 million square foot greenhouse complex in Southern California in September. Mark Vendetti was also named Chief Financial Officer by the business. On December 20th the company acquired PLUS a leading California edibles brand for approximately $25.6 million.
Glass House reported third-quarter 2021 results in November, with net sales of $17.2 million, up 29% from Q3 2020. To highlight, in Q3 2021, the company’s in-house cannabis brand was the top-selling brand in California. The gross profit was $2.3 million, with a 14% gross margin. In Q3 2021, year-to-date sales increased by 63 percent to $51 million, up from $31.3 million in Q3 2020. The corporation had a cash balance of $28.9 million at the end of the third quarter. On December 22nd, GLASF stock closed at $3.59, down 2.23% for the trading day. For the previous few months, the stock has traded in a range of $3.50-$6.26.