The Best Marijuana Stocks To Buy The First Week Of September?
Most marijuana stocks have seen an increase in volatile action over the last 4 weeks. Back in August, there were days of better trading that led to more positive speculation on what future trading may look like. With the sector oftentimes showing a lack of momentum and more up-and-down trading it can be tough to be optimistic. However, during August companies reported earnings and various other ventures.
When shareholders and potential investors saw this it created better momentum throughout the month. Now the initial start to September has just begun and so far there has been a slight bit of pullback. This small decline is not all bad as it gives some a chance to find top marijuana stocks to buy at solid entry points. If you are on the hunt for top marijuana stocks getting a position at a low share price is important.
As well you want to take the time to research and learn about the company. Most times when a cannabis company is profitable and generating revenue it reflects well inside of the market when there is some pickup. Overall there is still much to be done and seen which can lead to more investment opportunities. The companies below are a few marijuana stocks to watch this upcoming week.
Top Marijuana Stocks To Watch This Month
Planet 13 Holdings Inc.
Planet 13 Holdings Inc. an integrated cannabis company, engages in the cultivation, production, distribution, and marketing of cannabis and cannabis-infused products for medical and retail cannabis markets in Nevada, the United States.
The company also operates licensed cannabis dispensaries; a non-cannabis retail merchandise store and event space; and owns and operates Trece Eatery + Spirits, a coffee shop, and pizzeria. Back on August 15th, the company released its Q2 2022 earnings.
- Revenues were $28.4 million as compared to $32.8 million, a decrease of 13.5%
- Gross profit was $13.8 million or 48.7% as compared to $19.0 million or 57.9%
- Net income before taxes of $0.9 million as compared to a net loss of $2.6 million
- Net loss of $2.0 million as compared to a net loss of $5.6 million
- Adjusted EBITDA of $3.0 million as compared to Adjusted EBITDA of $7.2 million
Jushi Holdings Inc.
Jushi Holdings Inc. a vertically integrated cannabis company, engages in the cultivation, processing, retail, and distribution of medical and adult-use products. It focuses on building a portfolio of cannabis assets in various jurisdictions across the United States. In recent news, the company has released its Q2 2022 financial earnings.
Highlights Key Mentions
- Total revenue of $72.8 million, an increase of 52.4% year-over-year and 17.6% as compared to the quarter ended March 31, 2022 (“Q1 2022”)
- Retail revenue increased 16.1% to $67.3 million and wholesale revenue increased 42.1% to $5.5 million, as compared to Q1 2022
- Gross profit of $26.7 million, an increase of 17.2% year-over-year and 39.5% as compared to Q1 2022
- Adjusted gross profit of $27.8 million, an increase of 19.1% year-over-year and 12.3% as compared to Q1 2022
- Net Income of $12.1 million
- Adjusted EBITDA of $0.5 million
- Cash and cash equivalents were $43.2 million as of the quarter ended
Words From The Company
“We are pleased to report solid second quarter top-line growth and improved sequential profitability, a strong indication that our strategy, capital investments and cost savings initiatives are building a strong foundation on which we can continue to execute, despite the challenging macroeconomic environment,” said Jim Cacioppo, Chief Executive Officer, Chairman and Founder of Jushi Holdings Inc.