2 Marijuana Stocks To Keep Your Eye This Upcoming Year
Many marijuana stocks are still trading at lower levels. With 2022 almost here many investors are remaining positive. Hopefully, the new year will have better trading and yield overall better results. As far as the cannabis industry as a whole there is much to look forward to. Just for some context, we may see more states legalize cannabis. As well as companies continuing to expand their operations. This can be done by opening new dispensaries. In addition to mergers and acquisitions and adding new staff and team members. In 2021 some cannabis companies onboarded new CEOs.
What this does is show initiative growth potential and a plan for the future. Also in 2021 as marijuana stocks were not at their best outside the market many cannabis companies were. Back in November, many companies began to release their most current earnings. To which at the time many were able to show solid results. Many cannabis companies having good financials, gave more incentive to invest. in 2021 when looking for the best cannabis stocks to buy relying on trading patterns has not been the same.
Now many are using how successful and progressed a company is before investing. The reason for this is how low the sector has dropped with no consistent momentum. It seems that the more successful and profitable a company is the more of a buy it becomes. Especially with the current level most of the sector is performing at. Now is a good time to find these top marijuana stocks to buy before trading starts to increase.
Marijuana Stocks And The Cannabis Industry In 2022
Furthermore, 2022 could bring with it the passing of federal cannabis reform. This has been the real issue of the market that has been the big cause of this almost year-long downtrend. Nevertheless, history has shown good news on the matter has resonated well for marijuana stocks. With any good day of trading, shareholders will always look to take profit. But the big hold and sell most are waiting for the possible run the sector will have the day federal reform is enacted.
Currently, there has been more bipartisan support than ever before. So with this, there is great hope for future trading with the eventual passing of the reform. In addition to other industry developments that are soon to emerge in this upcoming year. Below are just a few marijuana stocks to watch in 2022 that could see better overall trading.
Top Marijuana Stocks For Your 2022 Watchlist
- Greenlane Holdings, Inc. (NASDAQ:GNLN)
- GrowGeneration Corp. (NASDAQ:GRWG)
Greenlane Holdings, Inc.
Greenlane Holdings, Inc. sells cannabis accessories, child-resistant packaging, and specialty vaporization products in the United States, Canada, Europe, Australia, and South America. Back on November 15th, the company released its Q3 2021 earnings. The company’s total revenue increased 16% to $41.3 million in Q3. This is in comparison to $35.8 million for Q3 2020. As well Greenlane also achieved the second-highest sales level in company history for Greenlane Brands.
Which grew to $8.4 million in Q3 2021, up 26% compared to $6.7 million in sales for Q3 2020. Next, the company also completed its transformative merger with KushCo Holdings Inc. This merger has now created an undisputed leader in the ancillary cannabis industry. In addition to entering into an agreement to acquire industry-leading vaporizer brand DaVinci. Essentially this will expand Greenlane Brands portfolio. Plus its intellectual property pipeline.
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Words From The CEO
Nick Kovacevich, CEO of Greenlane Holdings, said: “Q3 was a transformational quarter for Greenlane, with the completion of our merger with KushCo creating the industry’s leading ancillary cannabis company and house of brands. Our first few months as a combined company have been off to a strong start, as demonstrated through several realized revenue and cost saving synergies, including the consolidation of certain vendors and infrastructure and the development of go-to-market cross-selling strategies across each of our respective platforms.
GrowGeneration Corp. through its subsidiaries owns and operates retail hydroponic and organic gardening stores in the United States. In the last 2 weeks, the company has made some important news updates. Back on December 6th, the company announced the relocation of its Phoenix, Arizona store.
The new 25,000 sq. ft. Super Hydroponic Garden Center is in the Phoenix Metro area. Relocating and expanding the store footprint to over 25,000 square feet, t will be the largest hydroponic garden center in Arizona. Following this release on the 14th of December GrowGen announced the retirement of Tony Sullivan, EVP, and COO.
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Words From The Company
“During his tenure, Tony contributed a great deal to GrowGen, contributing to every part of our operation,” said Darren Lampert, GrowGen’s CEO. “While we are sad to see him go, Tony felt the timing was right both personally and professionally. The Company thanks him for all of his hard work and dedication.”
“In 2021, we brought on key leaders with exceptional retail experience, talent, and expertise, including Jeff Lasher as CFO. As well as Paul Rutenis as Chief Merchant Officer to lead the private label and proprietary brands growth. Plus Dennis Sheldon to run technology and supply chain, and Becky Gebhardt to run e-commerce and marketing. We believe the operational team now in place will allow the Company to grow and scale in 2022 and beyond.”