Best Cannabis Stocks For 2022 Right Now
Are the top marijuana stocks a buy in January? After several months of declines, most of the best cannabis stocks to invest in have reached new lows in the past couple of months. This is mostly related to the delays with US federal marijuana legalization and reform. Across the world, more nations are creating legal cannabis markets.
In Italy, officials certified that Italian activists have collected enough signatures to place a marijuana and psilocybin referendum on the country's ballot. In the US many attempts from the House to push federal cannabis reform were cut short in the Senate. Now to start 2022 many of the top pot stocks have already priced in the possibility of not achieving the end of cannabis prohibition this year. This could mean that top cannabis stocks begin trading on fundamentals like good financials and revenue growth.
Although there have been delays on the federal level in the states the cannabis industry continues to grow rapidly. For the next five years, the US cannabis market is forecast to double in size. As new markets like New York and New Jersey begin to flourish there are many well-positioned cannabis companies that are ready to increase their presence. For investors, this could be time to make a watchlist of the best cannabis stocks for 2022.
Becoming A Better Trader And Producing Gains With Pot Stocks
Before investing in the cannabis sector, it's important to do your own due diligence on a company. Researching a company's earnings and press releases can allow you to find the best-performing businesses. Additionally following how a stock behaves in the market can help you establish the best positions for your investments. Because pot stocks are known for having significant market volatility making a good entry is essential for establishing gains.
Another important element of trading is to limit your losses when you’re wrong on a trade idea. Setting the right stop loss on a bad trade can help you minimize your downside and make you a more successful trader. As top marijuana stocks continue trading near lower levels it could be time to make a 2022 watchlist of possible trades. 2022 could be an interesting year for the US cannabis sector as we see what happens with Congress and its position on federal policy. For this reason, let's look at 2 top cannabis stocks to add to your list for January 2022.
Best Marijuana Stocks To Watch In January
Ascend Wellness Holdings, Inc.
AWH is a vertically integrated operator with holdings in Illinois, Michigan, Ohio, Massachusetts, and New Jersey. AWH primarily owns and maintains growing facilities where award-winning strains are developed as well as a carefully chosen range of products. In general, the company manufactures and sells Ozone-branded items. The company’s cannabis product categories include flowers, pre-rolls, concentrates, vapes, edibles, and other cannabis-related items. AWH now has 17 retail sites and sells its goods to legal cannabis dealers. In October, Ascend will extend its vertically integrated footprint in Ohio. In addition, the business announced the launch of a dispensary in Newton, Massachusetts. AWH announced the completion of its acquisition of Ohio Cannabis Clinic in December, giving them a second dispensary in the state.
In the third quarter of 2021, AWH recorded net sales of $94.4 million, up 13.2 percent from the previous quarter. To be specific, the company’s Adjusted EBITDA for the quarter was $23.5 million, up 15.9% over the prior quarter. Specifically, the $105 million in total revenue was up 131.4 percent over the prior year. At the conclusion of the third quarter, the company had $204.5 million in cash and cash equivalents. AWH also announced that it has introduced Lowell Smokes pre-rolls from Lowell Farms Inc. (OTC: LOWLF) to the Massachusetts market. On January 6th AWH announced that MedMen Enterprises Inc. (OTC: MMNFF) was currently in breach of the investment agreement they established and has continued to challenge the authority of New York regulators.
AAWH Stock Performance
AAWH stock closed on January 12th at $5.96 up 2.61% in the past five trading days. Currently, the stock has a price range of $5.16-$9.21 and is down 43.77% in the last six months. According to analysts at CNN Business AAWH stock has a 12-month median price forecast of $13.00 per share. In this case, this would represent an upside of 118.12% from its last trading price of $5.96.
Columbia Care Inc.
Columbia Care Inc. intends to expand significantly in New York. The company just purchased a 34-acre growing facility on Long Island, giving it one of the East Coast’s largest cannabis footprints. Columbia Care presently operates 131 locations in 18 cities across the United States, including 99 dispensaries and 31 growing and processing facilities. The company opened its first Missouri location, a Cannabis Dispensary, in October. Earlier this month, the business announced the establishment of its third gLeaf dispensary in Virginia. Heavyweight champion Mike Tyson’s highly anticipated Tyson 2.0 Cannabis brand will also be arriving in Colorado, according to Columbia Care. On December 8th, the company announced a rebranding in the Florida market and at its retail locations. The new shop design and experience from Cannabist will be available soon.
In the third quarter of 2021, Columbia Care reported record quarterly revenues of $132 million, up 144 % year over year. The company’s adjusted gross profit for the quarter was $64.5 million, up 205 percent from the prior quarter. Additionally, the company established a new high with a 49 % adjusted gross margin and $31 million in adjusted EBITDA, up 634 percent year over year. In general, revenue forecasts for 2021 have been increased to $470-$485 million, with adjusted EBITDA forecasts of $85-$95 million. The state granted the corporation permission to rebrand its retail footprint across all 14 of its Florida locations in September. In December, Columbia Care, the UK’s first company to manufacture extract vaporization devices, revealed the UK’s largest line of medical cannabis extract vape pens. Initially, to start 2022 the company opened its 23rd Cannabist location nationwide in Virginia Beach its 12th in the state.
CCHWF Stock Performance
CCHWF stock closed on January 12th at $3.11 up 3.43% in the past five trading days. Currently, the stock has a 52-week price range of $2.71-$7.89 and is down 42.73% in the past six months. According to analysts at Tip Ranks CCHWF stock has a 12-month median price target of $11.19 per share. In this case, this would represent an increase of 259.81% from its last trading price of $3.11.
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