Cannabis Stocks For Q1 2022
In 2021 the best marijuana stocks to watch have declined as the year progressed. After reaching new highs in the first quarter due to investor belief that the US would pass federal marijuana legalization in 2021. The cannabis sector has fallen back to much lower trading levels to close out the year. But this recent downtrend could be an opportunity for cannabis investors in next year’s trading.
In general, although the cannabis sector did not perform well for investors in 2021 many leading cannabis companies delivered strong revenue growth and expanded significantly throughout the year. Both in the US and internationally the cannabis market is poised to see even more growth in 2022. On the US front as new states begin medical and recreational markets the industry is expected to grow substantially for the next five years.
In fact, according to a recent report from Prohibition Partners combined global sales of CBD, medical and recreational cannabis is expected to surpass $37.4 billion in 2021. Specifically, these figures are forecast to rise to $102 billion by 2026 showing substantial market growth for the industry. For cannabis investors finding the best companies that will prosper in the markets during this time could lead to significant profits in the future. One area that is growing alongside the cannabis industry is the companies that supply hydroponics, lighting equipment, and systems to produce cannabis.
The US And Global Cannabis Industry Growth
Around the globe, cannabis is also advancing significantly as more countries establish its medical use and create legalized markets. At the present time, there are opportunities for investors to get in on the ground floor for the future of the industry. In December some of these top cannabis stocks have experienced significant declines in the market. With top pot stocks trading lower making a watchlist of top marijuana stocks could add value to your portfolio for 2022. With this in mind, let’s look at 2 top marijuana stocks for your list in 2022.
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Best Cannabis Stocks For 2022 Watchlist
- Agrify Corporation (NASDAQ: AGFY)
- Clever Leaves Holdings Inc. (NASDAQ: CLVR)
Agrify Corporation, based in the United States, produces precision hardware and software grow solutions for the indoor agriculture sector. Vertical farming systems integrated grow racks and LED grow lights are now available from the company. Agrify’s innovative hardware and software solutions enable companies to achieve the best quality, consistency, and yield at the lowest cost feasible. Consulting, engineering, and construction are all part of the company’s overall offerings. Precision Extraction Solutions and Cascade Sciences, two prominent producers of extraction, post-processing, and testing equipment and solutions for the cannabis and hemp industries, were recently some acquisitions by the company. Through cooperation with Olive El Mirage, the company announced its debut into the Arizona cannabis market in October.
In November, the company’s third-quarter 2021 results were sales of $15.8 million, up 460 % year over year. Agrify has received $32.2 million in new bookings, bringing its total backlog to $117.5 million. Bud & Mary’s Cultivation, Inc. has announced the first comprehensive turnkey solution cooperation with Agrify to install up to 1200 vertical farming units at its 50,000 SQ FT facility. In addition, Curaleaf Holdings, Inc. (OTC: CURLF) has formed a multi-year research and development agreement with the company. The influence of the cultivation environment on plant health and harvest production will be studied in this study. The business confirmed its $48-$50 million full-year projection for 2021. On December 8th the company announced it entered into a binding agreement to acquire PurePressure a leader in solventless extraction and advanced ice water hash processing.
AGFY Stock Performance
AGFY stock is trading on December 31st at $9.20 down 3,26% for the trading day. The stock has a price range of $6.81-$35.94 and is down 20.08% in the past six months. According to analysts at Tip Ranks AGFY stock has a 12-month average price target of $34.67 per share. In this case, this would be an increase of 280.15% from its last trading level of $9.20. Going into 2022 AGFY stock could be a top marijuana stock for your watchlist right now.
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Clever Leaves Holdings Inc.
Clever Leaves Holdings Inc. is a multibillion-dollar company that grows, extracts, produces, and distributes pharmaceutical-grade marijuana. The company’s current activities include Colombia, Portugal, Germany, the United States, and Canada. There are two types of cannabis products: cannabinoid and non-cannabinoid. Homeopathic and other natural treatments, as well as health and detoxification products, are developed, manufactured, promoted, distributed, and sold by the company.
Clever Leaves released their third-quarter results for 2021 in November. The company hit a sales record of $4.0 million in Q3 2021. This represents a 22 percent year-over-year rise in gross profit. As a result, gross profit climbed by 22% to $2.5 million, yielding a gross margin of 62.9 % on a 1000-point scale. Furthermore, compared to a net loss of $6.1 million in the third quarter of 2020, net income in the third quarter of 2021 improved to $1.0 million. According to the company’s sales prediction, the revenue of $14-$16 million is now the estimate for 2021. The company grew in Portugal in December by receiving a license to develop its greenhouse operations.
CLVR Stock Performance
CLVR stock is trading at $3.06 on December 31st down 7.74% in the past five trading days. Currently, the stock has a 52-week price range of $3.00-$19.46 and is down 63.82% year to date. According to analysts at CNN Business CLVR stock has a 12-month median price target of $8.00 per share. This forecast represents an increase of 161.44% from its last trading price of $3.06.
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