2 Marijuana Stocks To Watch To Close Out The Week
2 Marijuana Stocks To End The First Week Of October
2 Marijuana Stocks For Your October Investor Watchlist
Many marijuana stocks are still facing a fair amount of volatile trading. Even with the sector down from over the last year. With the sector showing lower trading levels now shows to be a good time to buy cannabis stocks. Now before you take action on buying some steps need to be had before. For example, you will want to do heavy amounts of research on the market and different marijuana stocks. The reason for the due diligence is before 2021 many investors were able to use trading patterns as metrics to buy marijuana stocks.
Now what is being used is focusing on the progress each company has outside of the market. For instance, looking at company updates and current earnings. When you are able to see if a company is growing and showing positive results it’s a good indicator that it may be the cannabis stock to buy. Also if the company shows good financial earnings and is profitable these are typically good signs. Yet even with all the research, some investors are still cautious with investing in marijuana stocks. The reason for this doubt has been due to the uncertainty about how the sector will perform going forward.
Especially with all the chaos and ongoing battle with federal cannabis reform. With the possibility of seeing the end of cannabis prohibition, some investors are getting prepared. The preparation comes in the form of finding the top marijuana stocks to buy. Which most cannabis stocks as of the 8th of October are trading at lower levels. This is a good chance for those looking to get invested in cannabis. Just make sure to follow the above steps to help give some insight into investing. Below are 2 marijuana stocks to watch for better trading in 2021.
Top Marijuana Stocks To Add To Your October Watchlist
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, Beverage Alcohol Business, Wellness Business, and Business Under Development. It provides medical and adult-use cannabis products; pharmaceutical and wellness products; beverage alcohol products; and hemp-based food and other wellness products. In recent news, the company has released its Q1 fiscal year 2022 financial results. The company’s net revenue increased 43% to $168 million during the first quarter from $117 million in the prior-year quarter.
The increase was driven by a 38% growth in net cannabis revenue to $70 million. Tilray’s net beverage alcohol revenue came in at $15 million following the SweetWater acquisition on November 25, 2020. As well as wellness revenue of $15 million from Manitoba Harvest. Also, the company became an international market leader and #1 in Germany4 with medical cannabis extracts. Next 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. Not to mention this is the 10th Consecutive Quarter of Positive Adjusted EBITDA.
Words From The CEO Of Tilray, Inc.
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. These efforts are augmented by the cost benefits of our increased scale that we are realizing through our integration process. The tangible results include our tenth consecutive quarter of positive adjusted EBITDA and meaningful net revenue growth despite continued impacts from COVID-19 in Canada as retail cannabis stores only began opening in mid-June.”
OrganiGram Holdings Inc.
OrganiGram Holdings Inc. through its subsidiaries produces and sells cannabis and cannabis-derived products in Canada. It offers cannabis flowers, extracts, edibles and oils, beverages, and other cannabis products for the adult recreational market. In recent news back at the end of August the company announced the launch of SHRED’ems. This is a high-quality and bold flavored lineup of cannabis-infused gummies.
SHRED’ems is an extension of the Company’s highly popular, value-priced SHRED product portfolio. This portfolio includes SHRED milled flowers and SHRED Jar of Joints. Since its launch in early August, SHRED’ems has already demonstrated great momentum. To which it has captured the leading market share position of the edibles category in Prince Edward Island. Wich happened within 2 weeks of launch and the fourth position in New Brunswick.
Words From The Company
“The launch of SHRED’ems is a significant milestone for Organigram,” says Tim Emberg, Chief Revenue Officer, Organigram. “As a company, we remain dedicated to developing industry-leading products that meet consumer needs, and the launch of SHRED’ems is the first of many new innovations we anticipate coming from our strategic acquisition of EIC.”