It’s possible that marijuana stocks could start to see a pick-up in trading. The reason for this is the possible passing of a new defense bill. What makes this legislation so important is it has a…
cannabis banking measure attached to it. So as history has shown and progressive news on federal reform created an influx in trading for marijuana stocks. Now at the moment, a big push for ending cannabis prohibition is here. Yet the issue is now each political party is working to pass their version.
This alone has played a part in the recent decline in the sector. However with the defense bill soon to be voted on by the Senate the cannabis stocks may soon see another strong recovery. At the start of November, a good amount of positive news surfaced in regards to the reform.
As well as companies releasing their recent financial earnings. Which for most cannabis companies yielded good earnings. This helped the sector to see some consistent upward trading in the first 2 weeks of the month. Once more news came out about more hold-ups with ending cannabis prohibition the marijuana stocks fell once more.
Marijuana Stocks And A New Week Of Trading
Nevertheless with a new week soon to start there is still time to find top cannabis stocks to buy. With how low the sector is many are getting prepared by adding as many new cannabis stocks to their portfolio. The anticipation is once the reform passes a run will initiate even though this possible run is not set in stone. Still, you don’t want to invest blindly so the best way to not do that is by conducting due diligence. The more you know about the sector and the company the better chance you have at making a good return. Down below are some cannabis stocks to watch in December that may soon rise.
Top Marijuana Stocks To Watch In 2021
- Green Thumb Industries Inc. (OTC:GTBIF)
- Greenlane Holdings, Inc. (NASDAQ:GNLN)
- Planet 13 Holdings Inc. (OTC:PLNHF)
Green Thumb Industries Inc.
Green Thumb Industries Inc. manufactures, distributes, and sells various cannabis products for medical and adult-use in the United States. It offers cannabis flower; and processed and packaged products. Back on November 11th, the company released its Q3 2021 earnings report. At the time the company’s revenue increased 5.3% sequentially and 48.7% year-over-year to $233.7 million.
Another highlight is it’s the 5thvconsecutive quarter of positive GAAP net income, delivering $20.2 million. In addition to it being the company’s seventh consecutive quarter of positive cash flow. Which is from operations, delivering $82.8 million year-to-date. As the company continues to show its progress more people are keeping an eye on this marijuana stock.
Words From The Company
“Green Thumb is laying tracks for strong growth in 2022, 2023 and beyond. Our net capital expenditures exceeded $70 million in the third quarter bringing year-to-date net capex to over $115 million. Today, the U.S. cannabis market is a $24 billion industry and we believe as new states, new products and new consumers come into the market, it can triple over the next decade,” concluded Kovler.
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. In recent news, Greenlane announced the completion of its acquisition of Davinci. This venture will strengthen its portfolio of higher-margin proprietary-owned brands. DaVinci, a leading developer, and manufacturer of premium portable vaporizers.
This company is expected to generate approximately $12 million in sales with gross margins of 60% in 2021. The acquisition is expected to be…
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