Will These Marijuana Stocks Close Out The Week Strong
It seems that marijuana stocks are still seeing an increase in volatile trading. This up and down pattern has become somewhat of a norm for publicly traded cannabis companies. Now, this volatility has its upside when there is some pullback making it easier to find top marijuana stocks to buy. However, even with the current trading pattern, there are some things to know if you are looking to invest in cannabis stocks. Much of the upward trading that does exist is more times than not based on what a company is doing or has done.
In addition to any progressive news that impacts the cannabis industry as a whole. The more progressive and profitable a company is the more interest its draws from others. No one wants to invest in a poorly run company. That is why more success out of the market can actually lead to more people investing in the market given the right circumstance. With the cannabis industry, things are steadily moving in the right direction. This ranges from company and business growth and expansion. All the way to state and federal legislation.
Those who follow the sector and trade marijuana stocks understand how the industry progresses especially legislation that can really dictate how things. Yet many companies are showing record-breaking revenue and innovation in other areas. Although the trading average for the cannabis sector is a lot lower better trading has taken place over the last 6 months to a year. If you are looking to invest in marijuana stock now could be a good window to take action. Just make sure you do your research and weigh your risk verse reward. The marijuana stocks below are some companies to consider keeping an eye on this upcoming week.
Marijuana Stocks To Watch In 2022
OrganiGram Holdings Inc.
- 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
- Continues to hold the #1 position in dried flower, the largest category of the
- Canadian cannabis market, and the #3 market position nationally in gummies
Words From The Company
“We are pleased to see continued strength in our recreational business with our increasing market share. We achieved record net revenue results which we expect to surpass again in Q4 on the strength of new product listings, increased retail sales momentum, and international shipments,” said Beena Goldenberg, Chief Executive Officer.
HEXO Corp. through its subsidiaries, produces, markets, and sells cannabis in Canada. The company offers its adult-use and medical products under the HEXO brand name. In recent news, the company was granted an additional 180 calendar day grace period by Nasdaq. The purpose of this is to regain compliance with the minimum bid price rule. This extension will provide HEXO Corp. with the runway to effectively position HEXO for long-term success.
As a result of the extension, the Company now has until January 23, 2023, to regain compliance with the Bid Price Requirement. If at any time before January 23, 2023, the bid price of the Company’s common shares closes at or above US$1.00 per share for a minimum of 10 consecutive business days, Nasdaq will provide written notification to the Company that it has achieved compliance with the Bid Price Requirement.
Words From The CEO
“This extended grace period will provide the runway we need to position HEXO for long-term success,” noted Charlie Bowman, President, and CEO of HEXO. “Our listing on the Nasdaq is a critical component of our profitable growth strategy, providing access to a broad investor base and expanded awareness within the U.S. market.”
IM Cannabis Corp.
IM Cannabis Corp. engages in breeding, growing, and supply of medical cannabis products in Israel, Germany, and Canada. In the company’s most recent news it announced they will be reporting earnings on August 15th, 2022. The Company will host a zoom web conference on the same day at 9:00 a.m. ET to discuss the results, followed by a question-and-answer session for the investment community.
Since early August IMCC stock has begun to see a recovery in trading. Now this upward push has had some volatile action. From the 3rd of August to the 5th IMCC stock saw a 29 percent jump in trading. Shortly after this marijuana stock did see some slight pull back from the 8th to the 9th of August. Currently, IMCC stock is still up and could continue to climb as trading continues.