These 2 Marijuana Stocks Just Released Earnings
2 Marijuana Stocks May See Better Trading After Releasing Earnings
Will Solid Earnings Help These Marijuana Stocks See Better Trading
Many investors want to know what will it take for marijuana stocks to show more upward consistency in the market. Even with companies releasing solid earning reports it has yet to help improve the way cannabis stocks trade. With more pressure on Congress to pass federal cannabis reform and more states going legal outside progress is still happening.
But the growth and success outside of the market have not been able to greatly improve how the sector has been performing. So as mentioned above people are looking for the answer as to what it will take for the sector to rise to levels before mid-February. However, during this time more chances to find the top marijuana stocks to buy are taking place.
The average price of some of the top-performing cannabis stocks is now showing lower entry levels. It seems as it turning into a long-term game at the moment. Meaning that no one knows when a major rise in trading will happen again. But by building a portfolio of top cannabis stocks that stand the best chances at running maybe a plan to execute on.
For those who don’t know marijuana stocks trade in a volatile market with many unpredictable factors. For instance at anytime the way the sector or even just one company is trading can immediately change. That’s why it is always best to watch the market and educate yourself on each company as best you can.
Doing your research before you invest will help limit the amount of risk associated with buying cannabis stocks. Which in turn will give you the best chance at seeing a decent return or at least knowing when to take profits. Below are 2 pot stocks to watch one of which just released record financials in 2021.
Marijuana Stocks To Watch Right Now In The Market
Trulieve Cannabis Corp.
Trulieve Cannabis Corp. is regarded as one of the top marijuana stocks to watch in the market. The company together with its subsidiaries operates as a medical cannabis company. The company cultivates and produces products in-house and distributes its products to Trulieve branded stores across the United States. Trulieve controls the dominant share of Florida’s cannabis market.
In the company’s most recent news it has just announced the release of its Q2 2021 financial earnings. As well as Trulieve expanding into new markets. During this time the company achieved revenues of $215.1 million. This made for a sequential increase of approximately $21 million. Next, the company generated a net income of $40.9 million. Also, Truleive was able to deliver a second-quarter 2021 Adjusted EBITDA of $94.9 million.
Words From The Company
“Our performance in the second quarter was strong across all financial and operating metrics,” stated Kim Rivers, Trulieve CEO. “We have become operational in Massachusetts and West Virginia and recently won an application for one of two class 1 production licenses in Georgia. We continue to execute on our national expansion model, building our footprint both organically, with license application awards, and inorganically, with strategic acquisitions.”
TCNNF Stock Performance And Market Update
Over the last 4-8 weeks of trading TCNNF stock has been trying to build back some of its lost momentum. Even with the release of its record Q2 earnings, it has not created any upward momentum for the company just yet. Much of trading for TCNNF stock over the last 2 months have been a volatile downtrend overall. Yet at some jumps in trading have occurred in this time but the company was not able to keep it going. Currently TCNNF stock is still down but with more trading left in August, anything can happen for this top marijuana stock to watch.
Cresco Labs Inc.
Cresco Labs Inc. together with its subsidiaries cultivates, manufactures, and sells retail and medical cannabis products in the United States. The company in a recent news report has just released its Q2 2021 financial results. During this time the Cresco generated $210 million in revenue.
This accounted for an increase of 17.7% quarter over quarter and 122.8% year over year. As well the company also had an adjusted EBITDA2 of $45.5 million, an increase of 30.1% quarter-over-quarter.
Words From The CEO Of Cresco Labs Inc.
“Q2 was a strong quarter of head down execution at Cresco Labs and once again we are hitting our stride as we enter the next phase of growth. During the quarter we continued to invest in infrastructure, operationalized new assets, and deployed our proven playbook to build top positions in the most important U.S. cannabis markets,” said Charles Bachtell, Co-Founder and CEO of Cresco Labs. “We are very proud of the record performance this quarter, driven primarily by organic growth, and we’re even more excited about what lies ahead as we begin recognizing contributions from growth initiatives initiated over the last 18 months. We remain dedicated to our differentiated strategy and continue to lay the foundation for long-term leadership in the U.S. cannabis industry.”