2 New Marijuana Stocks To Add To Your Watchlist In 2022
These Are New Pot Stocks For Your List In 2022
Top Cannabis Stocks To Watch In Q1 2022
At the present time, are you looking for new marijuana stocks to buy in 2022? For most of 2021, the cannabis sector has seen significant declines caused by delays in federal cannabis reform. In December most top cannabis stocks have reached their 52-week lows this month. For most of this year, pot stocks have moved with the possibility of federal marijuana legalization and reform.
Although most cannabis companies have delivered strong revenue growth in 2021 it has not translated into gains in the market. Now with current trading levels for pot stocks seeming to have factored in the delays with federal cannabis reform, we may see better trading next year. As we begin to close a short week of trading top cannabis stocks are showing some upside in the market.
In 2022 we could see new marijuana stocks enter the market for cannabis investors. Most of these new companies are being brought into the market by way of SPAC deals similar to companies like WM Technology, Inc. (NASDAQ: MAPS). These could provide investors with more marijuana stocks to add to their watchlist in 2022. Other companies have recently entered the market and are seeing significant growth in the market.
Best Pot Stocks Right Now And Learning To Trade For Gains
Before investing in cannabis stocks it’s important to always do your due diligence on leading companies. Researching a company’s financials and press releases can give investors insight into their financial health and future growth plans. In addition, following how a stock performs in the market can help you establish the best entry into a position. Studying how a stock moves in the market and can allow you to make the largest returns from your investments. As we close out 2021 with cannabis stocks showing substantial market volatility let’s look at 2 top marijuana stocks for your list next year.
Top Cannabis Stocks For Your List In 2022
Merida Merger Corp. I (Leafly.com)
Leafly is a marketplace for cannabis discovery that hopes to help more than 125 million people learn about cannabis. Through advertising and technology services, this powerful eCommerce solution assists buyers in making informed purchase decisions and empowers cannabis businesses to acquire and keep loyal customers. Leafly.com said on Monday that it was on pace to meet its financial goals for 2021, indicating that the leading cannabis-focused website was outperforming the larger sector ahead of its Nasdaq debut next month. The business received permission from the US Securities and Exchange Commission for its registration statement earlier in the day, paving the way for it to go public following a vote by shareholders of merger partner Merida Merger Corp I. Merida, a special-purpose acquisition company, said that its shareholders will vote on the August deal on January 14th.
In November Leafly reported financial results for the three and nine months of 2021. In general, the company generated $31 million in revenue for the nine months ending on September 30, 2021. As a result, Leafly generated $27.4 million in gross profit. In Q3 2021 revenue grew 21% year over year representing 11% year over year growth.
Words From The CEO
“Our successful results year-to-date, building on the momentum we have generated over the last year, are a testament to the power of our marketplace and the dedication of the skilled, rapidly growing Leafly team. “As we ramp up our next phase of growth, entering the public markets through our partnership with Merida Capital will facilitate significant investments in our brand’s platform, robust advertising tools, and unmatched insights and information – as well as reinforcing our leadership position in newly legal East Coast markets.”
Yoko Miyashita, Leafly Chief Executive Officer
MCMJ Stock Performance
MCMJ stock is trading at $9.97 on December 23rd heading into the close. Currently, the stock has a 52-week price range of $9.75-$11.27 and has traded relatively flat for the past year. According to an analyst at Market Beat MCMJ stock has a consensus price target of $15 per share. In this case, this would represent an upside of 50.5% from its current trading price. As a new marijuana stock for cannabis investors MCMJ stock could be a top cannabis stock for your list in 2022.
Gage Growth Corp.
Gage Growth Corp. provides branding and support services to connected licensed operators in Michigan who grow, distribute, and sell marijuana and marijuana-related products. In general, the corporation, which was formerly known as Wolverine Partners Corp., provides medical and adult-use cannabis in the state. It has 19 Class C cultivation permits, three processing licenses, and 15 provisioning center approvals from the city and state. Gage announced earlier this year that it will bring the popular cannabis brand COOKIES to the Canadian market. COOKIES is currently one of the most well-known cannabis brands in the world, with one of the industry’s greatest footprints. In a December 23rd press release the company announced it opened its 11th dispensary in Michigan.
Gage announced its third-quarter 2021 results in November, with revenue of $27.2 million, up 119.6% year over year. Gross margins were 36.5%, and the company concluded the quarter with $17.7 million in revenue. Wiz Khalifa, a multi-platinum selling artist, has announced an exclusive collaboration with the company. Gage will create and market a brand of premium cannabis products called Khalifah Kush in Michigan. TerrAscend Corp. (OTC: TRSSF) received final approval from the Ontario Superior Court of Justice to buy GAGE in November, according to the company.GAEGF stock closed on December 23rd at $1.77 down 3.93% in the past five trading days. Currently, the stock has a price range of $1.41-$3.00 and is down 13.54% in the past six months.
[Read More] US Marijuana Stocks For Your List In 2022