Are These 3 Marijuana Stocks On Your June Watch List
With marijuana stocks still showing volatile movement now could be the time to buy. The current state of the cannabis sector is more of quick buys and sells. Specifically over the last several months when a marijuana stock sees an upswing in trading it most times happens for a short moment. From this volatile behavior, some can capitalize on these quick trades and others are not. For the marijuana stock investors who are not able to execute that quickly, they are left waiting for longer rises in trading. At the moment the sector is having a choppy pattern but some feel with the right catalyst things upward trading has the potential to last longer.
Many cannabis companies throughout May reported Q1 2022 earnings which for the most part were solid financials. This did help in seeing some sustained trading. Yet ultimately most marijuana stocks began to decline once more. Now outside of the market, there is a lot of progress and headway being made in the cannabis industry. For example, there are several MSO cannabis companies that continue to open new dispensaries and expand operations. What this does is create more opportunities and the chance to see an increase in revenue.
Focusing On The Right Marijuana Stocks
With more cannabis companies showing success out of the market it leads to speculation about what may happen in the future. So with some of the companies down in the market, it gives people a chance to find the best marijuana stocks to buy. Just make sure you do your research beforehand so you are able to find cannabis stocks with the least amount of risk. The cannabis companies below are several marijuana stocks to watch this month.
Top Marijuana Stocks To Watch Right Now
- Leafly Holdings, Inc. (NASDAQ:LFLY)
- WM Technology, Inc. (NASDAQ:MAPS)
- Hydrofarm Holdings Group, Inc. (NASDAQ:HYFM)
Leafly Holdings, Inc.
Leafly Holdings, Inc. owns and operates a platform to provide consumers with cannabis information and connects consumers to cannabis brands and licensed retailers. Over the last several weeks, the company has made some important company updates. On May 17th Leafly announced the launch of its online delivery service in California. In addition to other delivery legal states. Californians 21+ will now be able to combine Leafly’s unparalleled strain database.
Which would allow people to browse, shop, and get cannabis delivered right to their door. Next, the company announced they will be presenting at the Jefferies Cannabis Summit which took place Thursday, June 2, 2022. Since the last week of May LFLY stock has begun to see a substantial rise in trading. Even with a slight decline to start the month of June currently this marijuana stock is starting to climb once more.
WM Technology, Inc.
WM Technology, Inc. provides eCommerce and compliance software solutions to retailers and brands in the cannabis market in the United States, Canada, and internationally. The company offers Weedmaps marketplace that allows cannabis users to search for and browse cannabis products from retailers and brands.
In recent news, the company has announced it will participate at Jefferies 2022 cannabis summit and Stifel 2022 cross-sector insight conference
Conference Time And Dates
Jefferies 2022 Cannabis Summit
On Thursday, June 2nd, 2022, WM Technology will be taking institutional investor meetings at the Jefferies 2022 Cannabis Summit.
Stifel 2022 Cross Sector Insight Conference
On Thursday, June 9th, 2022 at 10:20am EST, WM Technology management will be hosting a fireside chat for institutional investors at the Stifel 2022 Cross Sector Insight Conference. The company will also be taking institutional investor meetings.
Hydrofarm Holdings Group, Inc.
Hydrofarm Holdings Group, Inc. together with its subsidiaries, engages in the manufacture and distribution of controlled environment agriculture equipment and supplies. The company offers agricultural lighting devices, indoor climate control equipment, hydroponics and nutrients, and plant additives.
Back on May 10th, the company reported its Q1 2022 earnings. During this time the company was not able to report the best earnings. Although in recent trading HYMF stock has seen small rises in the market. Hopefully, with a new month, this marijuana stock will continue to see sustained trading.
Company Stats For Q1 2022
- Net sales remained flat at $111.4 million.
- Gross Profit decreased to $16.6 million compared to $23.2 million. Adjusted
- Gross Profit(1)(2) was $22.3 million compared to $23.4 million.
- Net loss was ($23.3) million, or a loss of ($0.52) per diluted share, compared to net income of $4.9 million, or $0.13 per diluted share.
- Adjusted Net Loss(1)(2) was ($7.8) million, or ($0.17) per diluted share, compared to Adjusted Net
- Income(1) of $7.2 million, or $0.18 per diluted share.
- Adjusted EBITDA(1)(2) decreased to $3.1 million compared to $9.9 million.
- The Company recorded a $3.2 million inventory reserve during the quarter, which was not treated as an adjustment.
[Read More] Top Marijuana Stocks To Watch Right Now In June
Investing And Trading Marijuana Stocks In 2022
As marijuana stocks see more volatile trading it may lead to more people being able to make quick exits. If investors can do so it may lead to seeing more profits even if they are smaller than what they could be. Any return is better than no return or just breaking even in my opinion. Many feel that once the end of cannabis prohibtion happens it will trigger a run for the sector. This is not set in stone just a thought of what could occur and history has shown that any positive news on the subject has resulted in better trading. Some marijuana stocks may offer more value than others so keeping an eye on the market is crucial. You want to put yourself in the position to see the best outcome from your investments whether holding short or long term. With that said investing in marijuana stocks in 2022 could be an asset to your current portfolio.