Top Marijuana Stocks To Buy In December? Here’s 2 To Checkout
Some of the top marijuana stocks to buy have been faced with market issues. These issues are in the form of a pullback in trading. Much of which is due to the uncertainty of the future of the cannabis industry. In addition to how marijuana stocks will perform as well. Meaning that with the battle to pass federal cannabis reform the market is feeling the impact. If investors were to see a strong follow through with federal reform history has shown it resonates well among the sector.
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Yet in recent times both Republicans and Democrats as the Senate Majority Leader as racing to enact the reform. With each party looking to pass their bill its created walls for each side to get passed. As well there is also a defense bill soon to be voted on with a cannabis banking measure attached to it. Now if one of these bills pass mainly the one that will end cannabis prohibition it could help the sector climb. But how long will this possible run actually last? Shareholders feel confident that most top pot stocks stand a good chance at sustaining new levels once the reform is passed.
Marijuana Stocks Impacted By The Cannabis Industry
However, there is no way to know for sure. Overall there is a lot in the works for the cannabis industry that is beyond just cannabis stocks. A large number of cannabis companies have been showing great progress over the last year. Even in a down market, many marijuana companies have continued to grow and flourish. This continued success has intrigued many potential investors to find marijuana stocks to buy. With the market down at the moment currently there is another buying opportunity. Just make sure to do your homework before making an investment. Below are a few cannabis stocks to watch in 2021 that may see an increase in trading.
Top Marijuana Stocks To Watch Right Now In 2021
Gage Growth Corp.
Gage Growth Corp. provides branding and support services to affiliated licensed operators that produce, distribute, and sell cannabis. And cannabis-related products in Michigan, United States. The company offers medical and adult-use cannabis. Its portfolio includes city and state approvals for 19 Class C cultivation licenses, three processing licenses, and 13 provisioning centers.
In recent news, the company has released its Q3 2021 financial earnings. At this time the company achieved a record Q3 2021 revenue of $27.2 million. This made for an increase of 119.6% YoY and 3.2% quarter over quarter. Another highlight is Gage Growth closed on a $55 million senior secured term loan. As well the company announced a proposed arrangement. This is for TerrAscend Corp. acquiring all of the issued and outstanding subordinate voting shares of Gage.
Next, the company ended the quarter with $17.7 million of cash and $72.3 million of Pro-forma cash. The company also introduced Gage branded vape carts in October 2021. Which currently account for almost 80% of the overall vape cart sales so far in November. Also, the company has 11 cultivation facilities in operation today. Which is in comparison to three cultivation facilities in Q3 2020.
Words From The CEO
“In the third quarter of 2021, Gage had a record performance across all financial and operating metrics,” said Fabian Monaco, CEO of Gage. “We will continue to invest while improving our margins. Moreover, as we further introduce our in-house branded concentrate products, we expect our gross margin to further improve over the next two quarters.”
Glass House Brands Inc.
Glass House Brands Inc. cultivates, manufactures, produces, and retails cannabis. It offers cannabis products under the Glass House Farms, Forbidden Flowers, and Mama Sue brands. Back on November 11th, the company released its Q3 earnings. During that time the company’s net revenue increased by 29% year over year. As well Glass House completed the acquisition of a 5.5 million square foot cultivation facility.
This move positioned the company for considerable future growth. Glass House Farms, the company’s house cannabis brand, was the No. 1 ranked brand by sales in California in Q3 2021. And is the No. 2 brand YTD Q3 2021 according to BDSA. The company’s gross profit was $2.3 million compared to $4.9 million in Q3 2020 and $8.6 million in Q2 2021.
In addition Glass House also saw an Adjusted EBITDA1 of $(5.4) million. In comparison to $0.2 million in Q3 2020 and $2.2 million from Q2 2021. YTD Q3 2021 Net Sales grew 63% to $51.1 million from 31.3 million in Q3 2020. Also, the company’s cash balance was $28.9 million at quarter-end.
Words From The Company
Kyle Kazan, Glass House Chairman and CEO, stated: “The California market is now in the long-awaited process of commoditization, and this will be difficult for all who have operations in the Golden State. It is a necessary step in the maturation of the market and similar to what happened in Colorado, Washington and Oregon. We are leaning into this period by focusing on significantly lowering our COGS through scale and automation at our newly purchased Camarillo facility as we believe that highest quality at the lowest production costs in California will be the big winner.