TRSSF - 2 Marijuana Stocks To Watch Next Week
Top Marijuana Stocks To Buy Before The New Year?
Most marijuana stocks to buy are trading with high amounts of volatility. For many, this is the same topic of concern being spoken about repeatedly. Investors are looking for better answers as they continue to adjust their trading styles. With no proper consistency in the cannabis sector if you want to see gains you have to be ready. Most of the marijuana stock investors who have been taking profits over the last several weeks understand the change. When the sector is trading up and down and changing without warning it can be tough.
One of the ways to stay on top of this is to either set alerts or focus heavily on marijuana stocks. Not every investor only trades cannabis stocks so this can also be a reason why taking profits can be difficult. If you are trading stocks in another sector then you can miss a volatile upswing in the cannabis sector. Nevertheless, marijuana stocks have overall shown better action since the end of September even with days in the red.
The trading as volatile as it may be has been better and investors have been taking profits. What many feel is that with 2023 around the corner that the new year may bring consistent upward momentum for the sector. The companies below are several marijuana stocks to watch this holiday season.
Top Marijuana Stocks To Know About 2023
Verano Holdings Corp.
Verano Holdings Corp. operates as a vertically integrated multi-state cannabis operator in the United States. It engages in the cultivation, processing, wholesale, and retail distribution of cannabis throughout the United States. In recent news, the company reported its Q3 2022 earnings.
Q3 2022 Highlights
- Q3 2022 revenue increased 2% versus the prior quarter and 10% year-over-year to $228 million.Revenue growth versus the year-ago period was driven by strength from adult use sales in New Jersey.
- Q3 2022 gross profit was $123 million or 54% of revenue, compared to $98 million or 44% of revenue in the prior quarter, and $98 million or 48% of revenue in the third quarter of 2021.
- Gross profit growth versus the year-ago period was driven by top-line growth and a lower comparative impact related to the inventory step-up from acquisitions.
- Q3 2022 SG&A was $86 million or 38% of revenue, compared to $100 million or 45% of revenue in the prior quarter, and $76 million or 37% of revenue in the third quarter of 2021.
- SG&A growth versus the year-ago period was primarily driven by an increase in retail locations.
[Read More] Top Marijuana Stocks To Buy Today In The Stock Market?
TerrAscend Corp.
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.
[Read More] Top US Marijuana Stocks To Watch Thanksgiving Week
In the company’s most recent news TerrAscend announced the release of its Q2 2022 financial report.
Key Mentions And Q3 2022 Highlight
- Net Revenue increased 3.4% sequentially and 36.4% year over year to $67 million.
- Gross Profit Margin was 36.3%, compared to 35.5% in Q2 2022 and 43.7% in Q3 2021.
- Adjusted Gross Profit Margin1 was 46.1%, compared to 47.1% in Q2 2022 and 46.1% in Q3 2021.
- Adjusted EBITDA1 was $11.3 million, an increase of 96% sequentially and 22.8% year over year.
- Adjusted EBITDA Margin1 was 16.9%, compared to 8.9% in Q2 2022 and 18.8% in Q3 of 2021.
- GAAP Net Loss was $311 million, compared to net income of $14.2 million in Q2 2022. A $331 non-cash impairment charge was recorded against goodwill and intangibles for the Company’s Michigan business.
- Cashflow from Operations was positive $1.5 million, compared to negative $16.1 million in Q2 2022.