Are Ancillary Cannabis Stocks A Buy Right Now? 2 To Watch This Week



Best Marijuana Stocks To Watch Mid-September

What are the best marijuana stocks to buy in 2022? Just as the markets are ready to enter a critical week, the top cannabis stocks to invest in have gained traction in the last couple of months. One industry that has seen significant declines to start the year is the ancillary marijuana stock market. Ancillary cannabis companies are businesses that provide services to the cannabis sector without actually dealing with the plant. The cannabis industry is often supported by a wide range of companies.



Marijuanastocks.com – MarijuanaStocks

A few cannabis-related stocks with Nasdaq listings saw a dramatic decline in value over the first half of 2022. Investors may thus currently buy a number of these marijuana stocks for a significantly reduced price. Some of these stocks may offer investors a starting point for long-term cannabis investments or an opportunity to profit from recent market fluctuations. These could be the top 2 marijuana stocks to watch in September are listed below.

[Read More] 2 Marijuana Stocks To Watch This Week For Better Momentum

Top Ancillary Pot Stocks For September 2022

  1. Leafly Holdings, Inc. (NASDAQ: LFLY)
  2. WM Technology, Inc. (NASDAQ: MAPS)

Leafly Holdings, Inc.

Leafly Holdings Inc., a well-known online cannabis retailer and consumer resource declared in February that trading in its common stock, LFLY, had begun on the NASDAQ. The most reputable website for locating and buying cannabis products from authorized sellers throughout the globe is Leafly. Each year, more than 125 million individuals use Leafly to research cannabis and purchase it from neighboring stores online. The company’s substantial resources, which include technology and advertising services, allow customers to make informed purchasing decisions. This helps cannabis businesses attract and retain devoted customers. Customers can now make purchases directly from the firm’s website because of the online cannabis delivery service that the business launched in California in May.

The company recorded total sales of $12 million for the second quarter of 2022, up 13.8% from the second quarter of 2021 due to growth in retailer and brand revenues. The gross margin was also 88.0%, down from 88.5% in Q2 2021. Compared to the adjusted EBITDA loss of $0.8 million in Q2 2021, the company saw an adjusted EBITDA loss of $8.4 million. Leafly anticipates sales for the entire 2022 to be in the $48.0 million to $51.0 million range, which would represent a midpoint 15% increase over 2021. As of right now, Leafly anticipates an Adjusted EBITDA loss of between $28.5 million and $26.0 million. Leafly was included in the Russell 3000 and 2000 indices in June.

LFLY Stock Performance

LFLY stock closed on September 12th at $1.53 up 3.38% in the past five trading days. Currently, the stock has a range of $1.40-$11.58 and is down 84.68% year to date. According to analysts at CNN Business LFLY stock has a median price target of $5.25 per share. In this case, this would represent an upside of 243.14% from its last trading price of 1.53.

[Read More] Best Canadian Cannabis Stocks To Watch 3rd Week Of September

WM Technology, Inc.

Weedmaps is a user and business directory for the cannabis industry along with being an online store. It is a division of WM Technology, Inc. The cloud-based SaaS solutions from WM Business are widely used by cannabis stores as their operating system. The products and services provided by WM Business frequently make it simpler to adhere to the intricate and constantly evolving legal requirements governing the cannabis sector. In order to expand their product offering in Ontario in May, WM Technology added a digital payment option. This helped small businesses because curbside pickup, delivery, and cashless transactions were becoming more and more necessary. The business acquired Sprout in 2021, a well-known cannabis CRM and marketing platform.Weedmaps_Logo_Kit_Primary_Mark_Teal_Text_Blk_Smile_3x

Weedmaps now has more than 18,000 business listings in the US, with an estimated 13.9 million monthly active users. Currently, each paying member brings in an average of $3789 every month. According to Weedmaps, second-quarter sales climbed by 24% year over year to $58.3 million. Additionally, on June 30, 2022, there were 17.4 million active monthly users, up 41% from the same time the previous year. The $54.4 million in gross profit indicates a 93% margin rate. Given expenditures made in new client solutions, our WM AdSuite offering, and ongoing investments in data projects, this represents a 250bps margin drop from the preceding year. Importantly, net income was $19.8 million as opposed to $16.8 million in the same quarter last year. When compared to the same time last year, when adjusted EBITDA was $8.5 million, it was minus $0.6 million.

MAPS Stock Performance

MAPS stock closed at $2.50 on September 12th up 2.04% in the last five trading days. Currently, the stock has a 52-week price range of $2.19- $15.16 and is down 58.19% year to date. According to analysts at CNN Business MAPS stock has a 12-month average price target of $4.50 per share. In essence, this would represent an upside of 80% from its last trading price of $2.50.

[Read More] Top Ancillary Cannabis Stocks For Your September Watchlist

Making Cannabis Sector Investments And Ancillary Cannabis Stocks

During the most recent trading sessions, these top marijuana stocks hit new lows; when they begin to rebound, investors may find value in the stocks. You can check a company’s financial records and news releases to see if an asset is suitable for your trading strategy and portfolio. Understanding technical indicators and chart patterns can help you make better trading decisions. Due to the present market volatility in the cannabis industry, active traders in September may have the chance to generate short-term gains.



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