Beyond just focusing on marijuana stocks the cannabis industry as a whole has seen a great amount of growth. From mergers and acquisitions to companies opening new dispensaries around the United States. Cannabis has furthered become more accepted by…
many different people around the country.
According to information from Leafly, legal U.S. cannabis sales medicinal and recreational increased 71% in 2020, to a total of $18.3 billion. Some have predicted that the cannabis industry will double in value by 2025. With this projection, many are looking for the best marijuana stocks to buy right now.
Also with more states and countries working to decriminalize or legalize cannabis, there are ample opportunities for entrepreneurs and existing companies. Due to how volatile cannabis stocks have been many are seeing this time as a good buying opportunity. Even with the market being down from mid-2020 to early 2021. However, just like any other type of stock or invest there is always some type of risk.
No matter if you are a seasoned investor or not it’s always a good thing to do your homework. Especially on any company and sector before you chose to execute on your investment. Also, it’s been said that global spending on legal cannabis worldwide will hit $57 billion in the next decade. This info is according to Arcview Market Research and BDS Analytics.
Marijuana Stocks And Cannabis Reform
With the legalization of recreational and medical cannabis, legal cannabis revenue in the U.S. is projected to hit $23.4 billion by 2022. Which is also being fueled by the increasing demand for cannabis around the world. This is why even in a down market investors are trying to select each pot stock wisely. As federal cannabis reform is on the cusp of becoming passed by the senate there is big anticipation behind future trading of marijuana stocks.
Top Marijuana Stocks To Watch This Month
- Tilray Inc. (NASDAQ:TLRY)
- Canopy Growth Corporation. (NASDAQ:CGC)
Tilray Inc.
Tilray Inc. engages in the research, cultivation, production, marketing, and distribution of medical cannabis products. The company operates through five segments: Cannabis Business, Distribution Business. As well as a Beverage Alcohol Business, Wellness Business, and Business Under Development. Back on October 7th the company reported its first-quarter fiscal 2022 financial report. During this time the company’s net revenue and gross profits jumped up 43 and 46 percent. Which are good results respectively for the largest global marijuana cultivator.
Another highlight is the company hit 10 consecutive quarters of positive adjusted EBITDA. The company was also able to save $55 million on a run-rate basis. This puts Tilray on the path to at least $80 million in cost savings from Aphria and Tilray synergies. Not to mention Tilray is an international market leader and #1 in Germany4 with medical cannabis extracts. Yet on the downside, Tilray did suffer a net loss of $34.6 million during the first quarter. Which is in comparison to a net loss of $21.7 million in the prior-year quarter.
Words From The Company
Irwin D. Simon, Tilray’s Chairman, and Chief Executive Officer, stated, “Tilray’s first quarter 2022 results affirm that, amid the paradigm shift towards global cannabis legalization, we are unquestionably executing against two key objectives. The first is maximizing near-term profitability through leadership in both higher-margin international medical markets and in Canada, complemented by incremental growth at SweetWater and Manitoba Harvest in the U.S.
Canopy Growth Corporation
Canopy Growth Corporation together with its subsidiaries, engages in the production, distribution, and sale of cannabis and hemp-based products for recreational and medical purposes primarily in Canada, the United States, and Germany. It operates through two segments, Global Cannabis, and Other Consumer Products. The company’s products include…
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