Subscribe to Entrepreneur for $5
Subscribe

3 Marijuana Stocks To Watch Before The Close

3 Marijuana Stocks To Watch With Good Market Potential

By
This story originally appeared on MarijuanaStocks

Top Marijuana Stocks To Buy And Hold Till Next Week?

Marijuana stocks are facing more pullback in the stock market. This week there have been some updates about the cannabis industry that could have been the reason why marijuana stocks continue to see more volatile trading. This week there have been several states have released news on state-level legislation. In addition to other states giving updates on the path towards legalizing marijuana. On Wednesday Chuck Schumer reaffirmed the commitment to marijuana banking reform during a White House discussion. When people caught wind of this news it created positive speculation which led to seeing more momentum in the sector.

Marijuanastocks.com - MarijuanaStocks

However, as history would have it once news on federal reform is released often time marijuana stocks react in an upward progression. Yet the consistency in the recovery is still not sustained for long periods of time. As of late, the cannabis sector is facing continuous unpredictable trading patterns. This volatile action makes taking profits after finding marijuana stocks to buy even more difficult.

When a company has a quick pop in trading it presents a challenge due to quick the recovery last. For this reason, a handful of traders have had to adjust their strategy to how the sector is performing. Nevertheless, when federal reform becomes law whether cannabis banking or the end of prohibition many feel the sector will finally have the consistency it’s been longing for. The marijuana stocks to watch below are several companies to keep an eye on heading into October.

Top Marijuana Stocks To Watch 2022

  1. Greenlane Holdings, Inc. (NASDAQ:GNLN)
  2. Cronos Group Inc. (NASDAQ:CRON)
  3. OrganiGram Holdings Inc. (NASDAQ:OGI)

Greenlane Holdings, Inc.

Greenlane Holdings, Inc. develops and distributes cannabis accessories, child-resistant packaging, vape solutions, and lifestyle products in the United States, Canada, and Europe. It operates through two segments, Consumer Goods and Industrial Goods. In recent news, the company has launched a new enhanced wholesale shopping experience at wholesale.greenlane.com. The new site allows customers 24/7 access to purchase thousands of products from both Greenlane-owned brands.

GNLN

The wholesale website is a key initiative aligned with Greenlane’s growth strategy. With the intent to help increase sales and profitability, while improving business efficiency and scalability. Customers will benefit from an improved user experience that features an easy-to-use layout to streamline processes. This process will allow customers to interact with Greenlane at their convenience.

Cronos Group Inc.

Cronos Group Inc. operates as a cannabinoid company. It manufactures, markets, and distributes hemp-derived supplements and cosmetic products through e-commerce, retail, and hospitality partner channels under the Lord Jones and Happy Dance brands in the United States. cron stock

The company is also involved in the cultivation, manufacture, and marketing of cannabis and cannabis-derived products for the medical and adult-use markets. In recent news, the company released its Q2 2022 earnings on August 9th.

[Read More] Looking For Top Marijuana Stocks To Buy? 3 Ancillary Pot Stocks With New Lows

Financial Highlights

  • Net revenue of $23.1 million in Q2 2022 increased by $7.4 million from Q2 2021
  • Gross profit of $4.1 million in Q2 2022 improved by $19.9 million from Q2 2021.
  • Adjusted EBITDA of $(18.8) million in Q2 2022 improved by $31.0 million from Q2 2021.
  • Capital expenditures of $1.9 million were essentially unchanged

OrganiGram Holdings Inc.

OrganiGram Holdings Inc. through its subsidiaries produces and sells cannabis and cannabis-derived products in Canada. The last time the company released news was back in July. At that time the company did report and release its Q3 Fiscal 2022 results.

[Read More] Top Canadian Marijuana Stocks In The Stock Market Right Now

Organigram

Highlights & Key Mentions

  • Achieved gross revenue of $55.2 million, up 90% from the same prior-year period and 26% higher than Q2 Fiscal 2022
  • Continued record growth in net revenue, reaching $38.1 million, the highest in the history of the Company, up 88% from $20.3 million in the same prior-year period and 20% from $31.8 million in Q2 Fiscal 2022
  • In Q3 Fiscal 2022, achieved #3 position among Canadian licensed producers with 7.8% market share. In June 2022 the Company had an 8.5% share of the recreational adult use market 1
  • Continues to hold the #1 position in dried flower, the largest category of the
  • Canadian cannabis market, and the #3 market position nationally in gummies1
  • Introduced 16 new SKUs for a total of 85 SKUs in market
  • Increased market presence of successful SHRED brand with the introduction of SHRED-X vapes, SHRED-X kief-infused blends, and SHRED’ems POP!, gummies in the classic pop flavors of cola, root beer, and cream soda