Top Marijuana Stocks For Your December 2021 Watchlist
Marijuana stocks are still trading in a down market. However, due to many new developments, things could change in the future. These changes will be in the form of the eventual passing of federal cannabis reform. Which has been the big focus for the U.S. cannabis industry. Beyond marijuana stocks fighting to sustain better momentum, the industry as a whole is growing. A good amount of cannabis companies recently have been releasing solid Q3 earnings.
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These results have shown promising growth potential and success for some. From these results, more people can see the progress of the overall sector outside of the market. What some forget is just because marijuana stocks are down doesn’t take away from success outside of trading. In fact in recent times the better a company is performing the more people find an interest to invest.
Especially with the amount of pullback and volatility cannabis stocks are showing. For the most part, marijuana stocks trade in an unpredictable market. This goes for top U.S. and Canadian marijuana stocks. In the midst of this volatile downtrend, some traders have been able to capitalize on the upward swings. As others, investors and shareholders are waiting for a much more significant rise in trading. Such as the run that took place during the first half of November.
Marijuana Stocks To Watch In December 2021
Now that a new month has begun many are hoping that the sector will soon recover. Or at the very least build enough momentum that the slightest catalyst can help marijuana stocks climb. There is great anticaption on the future of the sector and industry. With the industry still maturing there is still a lot of regions left untouched. To which once the end of cannabis prohibition takes place more ventures will be able to happen. The pot stocks below are just a few marijuana companies that are working to reach better trading. This may happen as mentioned above once federal reform is enacted
Top Marijuana Stocks To Watch In 2021
WM Technology, Inc.
WM Technology, Inc. provides SaaS subscription offerings to retailers and brands in the United States and Canadian cannabis markets. The company operates Weedmaps listings marketplace. Which is an app that provides consumers with information regarding cannabis retailers and brands. As well as the strain, pricing, and other information regarding cannabis products; and offers WM Business SaaS solution.
It also provides information on the cannabis plant and the industry and advocates for legalization. On November 11th the company released its Q3 2021 financial results. At this time the WM Technology third-quarter revenue hit $50.9 million. This made for a 9% jump from the third quarter of 2020. Another highlight is net income was $49.2 million as compared to $15.5 million from 2020.
In more recent news WM Technology announced its participation at the upcoming Cowen cannabis and UBS global TMT conference. The company will hold virtual one-on-one meetings with institutional investors throughout the day. For information, contact your UBS Institutional representative.
Words From The CEO
“Our third quarter results reflect the momentum we are seeing as we focus on executing and investing against our growth opportunities. We achieved revenue growth in the U.S. of 46% year-over-year, maintained healthy EBITDA profitability and also had double-digit year-over-year growth across a number of our key metrics. Our ability to outpace our end-market growth is especially notable given the challenges many of our clients faced given what we believe is accelerating consumer demand shifts to non-licensed channels,” said Chris Beals, CEO and Chairman of WM Technology.
IM Cannabis Corp.
IM Cannabis Corp. engages in breeding, growing, and supply of medical cannabis products in Israel, Germany, and Canada. It offers strains under the Roma, Dairy Queen, London, Tel Aviv, Paris, and Pandora Box brands; and CBD oil products under the IMC brand. The company also offers its intellectual property-related services to the medical cannabis industry.
In the company’s most recent news IM Cannabis Corp. announced it will be acquiring Oranim. Which is a company out of Israel and Jerusalem’s leading medical cannabis pharmacy. The company will acquire 51.3% of the outstanding ordinary shares of Oranim Plus Pharm Ltd.
Which is an Israeli company holding 99.5% of the rights in Oranim Pharm Partnership. This is resulting in IMC Holdings holding 51% of the rights in Oranim. Oranim is one of the largest pharmacies selling medical cannabis in Israel. In addition to being the largest pharmacy selling medical cannabis in the Jerusalem area.
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Words From The Company
Oren Shuster, Chief Executive Officer of IM Cannabis stated, “As one of the largest medical cannabis pharmacies in Israel, the acquisition of Oranim positions IM Cannabis as one of the largest distributors of medical cannabis in the country and provides IM Cannabis with a strategic entry point into its largest city and most populated area. Consistent with our stated strategy of vertical integration, this transaction increases our distribution reach in Israel, provides margin enhancing opportunities, and gives medical cannabis patients access to high quality, premium cannabis. With rapid growth in the Israeli medical cannabis market and in anticipation of potential legislative reform, the addition of Oranim and their dedicated employees will be a positive contribution to IM Cannabis.”