2 Marijuana Stocks To Add To Your New Years Watchlist
Marijuana stocks are about to start a new year of trading. With 2022 right around the corner cannabis stock investors await with great anticipation. This last year has been one of industry growth and market letdowns. Over these last 12 months, the cannabis industry as a whole has shown continued success. From more states going legal and new markets being developed. Some cannabis companies have even further expanded their operations. This has happened by opening new storefronts new products and by M&A. In 2021 there were many mergers and buyouts.
These ventures have now created some of the biggest cannabis companies in the world.
This progress has allowed others to see what’s brewing in the sector. As well the success of a company has also led to more people wanting to buy top marijuana stocks. Which is based on progress outside of the market. Furthermore, this progress for the industry was also a morale booster. Mainly due to how low the sector performed this whole year. Although 2021 resulted in more losses than gains it wasn’t all negative.
Meaning essentially 2021 was a year-long buying opportunity. Some of the more expensive marijuana stocks fell to unseen numbers. This allowed people the ability to find top cannabis stocks to buy. Yet not much upward trading from this dip produced the type of gains once saw from the sector. Still from the start of August and parts of November, the sector was able to recover a bit. The only thing is was short-lived as those marijuana stocks couldn’t sustain the upward momentum. Nevertheless many feel 2022 will be able to show better results.
Marijuana Stocks To Watch During The New Year
These results could be more cannabis companies having more success. Or finally enacting federal cannabis reform which a lot of people feel could cause a run. Still with a new year almost here now is the time to get prepared for what’s to come. The companies below are just a few marijuana stocks to watch in 2022. To which hopefully will have a better year this time around as many investors hope.
Top Marijuana Stocks To Watch This Month
- Canopy Growth Corporation (NASDAQ:CGC)
- Red White & Bloom Brands Inc. (OTC:RWBYF)
Canopy Growth Corporation
Canopy Growth Corporation together with its subsidiaries, engages in the production, distribution, and sale of cannabis and hemp-based products. Which are for recreational and medical purposes primarily in Canada, the United States, and Germany. It operates through two segments, Global Cannabis, and Other Consumer Products. In recent news, Canopy announced it divests pharmaceutical C3 cannabinoid compound company. Which is Dermapharm Holding SE a European pharmaceutical company headquartered in Grünwald, Germany.
The C³ business develops and manufactures pharmaceutical products and is comprised of Spectrum Therapeutics GmbH. Which is based in Neumarkt-in-der-Oberpfalz, Germany. THC Pharm GmbH The Health Concept is based in Frankfurt, Germany. And Spectrum Therapeutics Austria GmbH, based in Vienna, Austria. With the divesture of C³, Canopy Growth is continuing its evolution into a CPG-modelled organization. As well as furthering its strategy of driving focus and consistent business across its core markets.
The Company will continue to leverage its high-quality supply of Canadian cannabis products. This will be for the medical channel in its core international markets, including Germany, while also serving adult-use consumers in Canada. As a result of the divesture, Canopy Growth is expected to avoid future operational complexities associated with C³. In addition to significantly reducing short-term capital investment requirements.
Words From The Company
“Canopy is maturing as a consumer product company – leveraging our market focus, innovation, and R&D strength to produce cannabis and cannabinoid-based products that make a positive impact on consumers lives,” said David Klein, CEO, Canopy Growth. “We remain committed to serving the medical cannabis market as a channel and will continue to do so by leveraging our existing high-quality supply of Canadian cannabis products to meet patient demand globally. I would like to thank the C³ team members for their hard work, dedication, and commitment to building the successful business that C³ is today.”
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Red White & Bloom Brands Inc.
Red White & Bloom Brands Inc. engages in the cultivation and retail of cannabis products primarily in Michigan, Illinois, Massachusetts, Arizona, California, and Florida. At the end of November, the company released its Q3 2021 earnings. At this time the company saw its Q3 year-to-date revenue increase 386%.
These figures year over year are $36.9 million for the nine months ended September 30, 2021. Next Red White & Bloom reached an EBITDA of $5.9 million. Which is an increase of $11.7 million over Q3 2020. Another highlight is the Michigan Marijuana Regulatory Agency issued pre-qualification for RWB cannabis licensure.
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Words From The CEO Of Red White & Bloom Brands Inc.
“In the third quarter, we made excellent progress in laying additional building blocks in our core operating states of Florida, Michigan, and California to become more vertically integrated where it will be most profitable,” stated Brad Rogers, RWB Chairman & CEO.