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2 Marijuana Stocks To Watch As The Market Faces Some Pullback

2 Marijuana Stocks For Next Weeks Watchlist

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This story originally appeared on MarijuanaStocks

2 Marijuana Stocks To Watch Before Next Week

Marijuana stocks are facing a slight drop in trading. Much of this is due to the lack of federal cannabis reform. Right now there is a hold-up and slight divide when it comes to this issue. At the moment the Democrats the Republicans and the Senate Majority Leader are all trying to pass federal reform. The problem is each party feels their bill is better than the next. Which is causing a slight divide and more hurdles to pass some type of reform. In addition this a cannabis banking measure has been passed inside of defense bill. Now because of these issues, it has once again left the matter at a standstill.

Marijuanastocks.com - MarijuanaStocks

More specifically when it comes time to vote some members of Congress may vote against passing. Which would be due to wanting their bill passed instead. The result from this hold-up is creating another drop in trading among marijuana stocks. When any news is released that announces progressive and positive updates it has helped cannabis stocks. Even though on a state level the cannabis industry is thriving federal reform is the end all be all. Meaning with the end of cannabis prohibition more business can take place that was once federally illegal.

Marijuana Stocks To Watch In The Cannabis Sector

Nevertheless over the last few weeks of trading cannabis stocks had some nice days of upward momentum. Yet as of now things have changed. Due to this current pullback, there is still time to find some top marijuana stocks to buy. Just always make sure to do your homework before investing. Especially with marijuana stocks mainly because they are incredibly volatile. Meaning they trade in a sector that can climb or drop unexpectedly. From this activity, some have been able to take advantage of these price swings. Below are a few marijuana stocks to watch at the end of the week.

Top Marijuana Stocks To Watch Right Now In 2021

  1. Neptune Wellness Solutions Inc. (NASDAQ:NEPT)
  2. Cresco Labs Inc. (OTC:CRLBF)

Neptune Wellness Solutions Inc.

Neptune Wellness Solutions Inc. operates as an integrated health and wellness company. It builds a portfolio of lifestyle brands and consumer packaged goods products. The company offers turnkey product development and supply chain solutions to business customers in various health and wellness verticals, such as legal cannabis and hemp. In recent news, the company has released its fiscal second-quarter 2022 financial results. The company’s revenue totaled $15.7 million which is a 27 percent increase from Q1. NEPT Stock

This marks the third consecutive quarter of sequential revenue growth. As well the company also announced a strategic review plan. Which is initially estimated to produce a yearly cost saving of over $10 million USD. Also, there was a gross profit loss of $1.8 million compared to a gross profit loss of $4.7 million. This made for an improvement of $2.9 million from the quarter ended September 30, 2020. As well the company saw Adjusted EBITDA loss improve $3.5 million or 27% for the quarter ended September 30, 2021. Yet this ended up to an adjusted EBITDA loss of $9.5 million. Which is compared to $13.0 million for the quarter ended September 30, 2020.

Words From The Company

“We are pleased to have delivered 27% revenue growth this quarter from Q1, our third consecutive quarter of revenue growth, primarily driven by strong demand for our cannabis flower products, continued expansion of our Sprout brand into North American retailers and record sales for Biodroga. During the quarter, we more than doubled our market penetration for our Canadian cannabis products to over 1,000 stores where we sell our Mood Ring and PanHash brands,” said Michael Cammarata, President and Chief Executive Officer of Neptune Wellness.

[Read More] Do These Marijuana Stocks Have Potential Upside Right Now? 2 To Watch Before The Weekend

Cresco Labs Inc.

Cresco Labs Inc. together with its subsidiaries cultivates, manufactures, and sells retail and medical cannabis products in the United States. On November 11th the company announced the release of its Q3 2021 financial earnings. During this time the company saw revenue of $215.5 million. This made for an increase of 2.6% quarter-over-quarter and 40.6% year-over-year. Following this the company’s gross profit excluding fair value mark-up for an acquired inventory of $116.7 million.

Crespo Labs

Or 54.2% of revenue, an increase of 9.0% quarter-over-quarter and 48.3% year-over-year. As well Cresco saw an Adjusted EBITDA2 of $56.4 million, or 26.2% of revenue. Which made for an increase of 24.0% quarter-over-quarter. In more highlights, the company had a record net wholesale revenue of $109.3 million. And a record retail revenue of $106.2 million from 37 stores.

[Read More] The Senate Majority Leader Want’s His Bill To Help Small Cannabis Companies

Words From The CEO

“Q3 was another outstanding quarter at Cresco Labs and a very strong start to the second half of the year. During the quarter, we replenished our balance sheet with non-dilutive capital, we closed a transformative acquisition in Massachusetts creating our third top three market share in a billion-dollar market, we announced several new deals to drive market depth, and we made massive improvements in bottom-line profitability as infrastructure investments began to bear fruit,” said Charles Bachtell, Co-Founder, and CEO of Cresco Labs.