Marijuana stocks are starting to see a small amount of pullback. Yet overall things in the sector are looking much better than in the last several months. This slight decline in trading, once again it gives people the chance to find…
top marijuana stocks to buy. Now even though the last few weeks have looked really good for most pot stocks always do your homework. Before any investment is made you want to learn all you can about the company and the niche they are in.
Having an understanding beforehand will help you limit a good amount of risk. Still, any type of investing even with due diligence is a risk. However specifically with marijuana stocks, things can be more unpredictable. Most cannabis stocks are in a volatile space meaning they can rise or drop without warning. As most know this can be both positive and negative for investors and shareholders.
Right now a large amount of progress is taking place outside of the market. For example, the big focus and priority for those in the industry is ending cannabis prohibition. Beyond federal reform, many companies are growing and expanding. As a result of this success, it is drawing in more potential investors. Not to mention the more progress a company has the more that market can develop.
The Cannabis Sector And The Growth Of The Industry
Currently more than half of the United States, Canada, and various parts around the world have legalized cannabis. Whether it is THC products or just CBD cannabis becoming less taboo and more legitimate. This alone is also gaining the attention of those who are looking to invest in the industry. So for those who don’t have a large sum of money cannabis stocks are the easiest way to get invested. Which is why more people have been searching for the best marijuana stocks for their investment portfolios. Especially now that momentum is starting to be more consistent for the cannabis sector. Down below we will discuss a few marijuana stocks to watch in November.
Top Marijuana Stocks For Your 2021 Watchlist
- WM Technology, Inc. (NASDAQ:MAPS)
- Ascend Wellness Holdings, Inc. (OTC:AAWH)
WM Technology, Inc.
WM Technology, Inc. provides SaaS subscription offerings to retailers and brands in the United States and Canadian cannabis markets. The company operates Weedmaps listings marketplace. Weedmaps provides consumers with information regarding cannabis retailers and brands. Back on November 11th reported its Q3 financial results. During Q3 2021 the company’s revenue increased to $50.9 million. This made for a 9% increase from the third quarter of 2020.
Weedmaps average monthly revenue per paying client increased to $3,817 compared to the prior-year period. As well gross profit was $48.8 million implying a 96% margin rate. Which reflects a 50bps margin expansion from the prior year. Another highlight is net income was $49.2 million as compared to $15.5 million Q3 2020. The company also had an Adjusted EBITDA of $10.4 million. This is in comparison to $16.5 million from the prior-year period.
Words From The Company
“Our third quarter results reflect the momentum we are seeing as we focus on executing and investing against our growth opportunities. We achieved revenue growth in the U.S. of 46% year-over-year, maintained healthy EBITDA profitability and also had double-digit year-over-year growth across a number of our key metrics. Our ability to outpace our end-market growth is especially notable given the challenges many of our clients faced given what we believe is accelerating consumer demand shifts to non-licensed channels,” said Chris Beals, CEO and Chairman of WM Technology.
Ascend Wellness Holdings, Inc.
Ascend Wellness Holdings, Inc. engages in the cultivation, manufacture, and distribution of cannabis consumer packaged goods. The company’s cannabis product categories include flowers, pre-rolls, concentrates, vapes, edibles, and other cannabis-related products. In the company’s most recent news its Q3 2021 financial earnings have been released. At this time Ascend Wellness increased its net revenue by…
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