Top marijuana stocks are starting this week out with an increase in trading. Right now many marijuana stocks are starting to recover and show signs of life. This upward momentum is allowing for some investors and shareholders to take profits. For the last few weeks…
the sector has been faced with a pullback in trading. So with a new week of trading and a good one to start things could be turning around.
What many investors and shareholders want to see is more consistency. The ability to see better trading, and a smoother path towards seeing a recovery once the dip has begun. Which is currently happening as of December 6th. Now things can still change as the cannabis sector is a volatile and unpredictable sector. Nevertheless, many developments have been going on inside the cannabis industry.
For example, companies have been releasing earnings and company updates. Which have added to some of the upward momentum that some cannabis stocks are seeing. Still another possible factor to this current rise maybe do the possible passing of a defense bill. What makes this defense bill so essential is attached to is a cannabis banking measure.
Marijuana Stocks Continue To Push Forward In The Market
Right now there is a big push to legalize cannabis on a federal level. Many feel not only will this be one of the biggest accomplishments but that this will help create a run in the sector. As many can see who are in the industry positive news about reform has helped see a rise in trading. Yet there is no guarantee that this will happen. which is also why investing in speculation is currently happening as well. Due to how low the sector has been people want to find top marijuana stocks to buy. Obviously to make money and with great anticaption for the future, it’s becoming a strong possibility. Like any investment, always do your homework beforehand to get a better understanding. The cannabis stocks we will cover below are just a few options to watch heading into 2022.
Top Marijuana Stocks To Watch Right Now
TerrAscend Corp. cultivates, processes, and sells medical and adult-use cannabis in Canada and the United States. It produces and distributes hemp-derived wellness products to retail locations; and manufactures cannabis-infused artisan edibles. The company also operates three retail dispensaries under the Apothecarium brand name in California and Pennsylvania. In the last 3 weeks, the company has made some important announcements.
Back on the 16th of November, the company announced the acquisition of a property to expand its Maryland cultivation. As well as its processing footprint. TerrAscend currently produces and sells dried flower and oil products for the Maryland wholesale medical cannabis market. Which is done from its existing 22,000 square foot cultivation and processing facility in Frederick, Maryland.
The Company has already received regulatory approval for the planned relocation of its cultivation operations. To which the company expects to relocate and commence operations in Q1 2022. Following this news, TerrAscend also released its Q3 2021 financial earnings. During this time the company’s net sales increased. This jump was by 29% YoY to $49.1 million and declined 16% sequentially. Next, the company also had an Adjusted EBITDA1 of $10.5 million.
Which is compared to $13.2 million in Q3 2020 and $24.3 million in Q2 2021. The company also announced the acquisition of Gage Growth Corp. And expect the transaction to close in early 2022, ahead of previous expectations. In addition, TerrAscend also signed an exclusive agreement. This was done to cultivate, manufacture and distribute COOKIES licensed products. With the goal to bring COOKIES Corners to all three Apothecarium dispensaries in New Jersey.
Verano Holdings Corp.
Verano Holdings Corp. operates as a vertically-integrated multi-state cannabis operator in the United States. The company produces and sells a suite of cannabis products under the portfolio of consumer brands, including Encore, Avexia, MÃV, and Verano. In the past 2 weeks, Verano Holdings has made 2 company announcements. On November 26th opened its 39th Florida MÜV dispensary in Melbourne FL.
This also represents the company’s 90th store nationwide. In recent news…
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