Top Marijuana Stocks To Watch To Start The New Week

[ad_1]

2 Marijuana Stocks To Watch Mid January 2022

Right now marijuana stocks in 2022 have shown some progress. Now we are not talking major runs or anything like that. But coming off of a year-long downtrend the start of 2022 has been fair so far. In the first 2 weeks of the year, the sector was able to see a small bit of upward consistency. Some feel this initial rise in trading was due to the excitement of starting a new year. Yet halfway through the first week of 2022 most cannabis stocks were dealing with some pullback. During the second week of January, the same pattern occurred as the first.

Meaning there has been some more volatile trading. Still, the slight upward momentum has helped some marijuana stocks in that time. Whether excitement or speculation there is much in the works for this new year. Many cannabis companies have expanded through M&A and opening new dispensaries. In addition to some companies having new cultivation and packaging facilities. As well as the launch of new cannabis strains and products. Not to mention most legal states are seeing record-breaking amounts of revenue almost every month.

Which has to do with not only cannabis being legal but the increase in demand. 2022 is set up to be the year of promise and execution. Specifically executing on operational expansions with what’s mentioned above. As well as the possibility of seeing new legal states that are soon to vote on legalizing cannabis. With legal cannabis growing and becoming more regulated now is the time to be invested. So as some days will have declined trading use that as a widow to find the best marijuana stocks to buy.

Are You Buying Marijuana Stocks Right Now Here’s What To Know

Not every cannabis stock will be worth the buy just because of how low it dropped. You will have to do your research beforehand. Much of the buying that has occurred over the last year and early 2022 is off speculation. There is still much to be seen and done both legislative and industry-wise. With this people are looking at the progress and potential each company has outside of the market. The purpose for this is to top marijuana stocks are down. But outside of the market is where much of the success has been captured over this past year. With this in mind, investors want to be prepared for the day a worthwhile run actually happens.

Marijuana Stock And Cannabis Industry Updates

2022 has a lot of potential to be a big year inside and outside of the market. The only real concern is not having another year of poor trading in the sector. With this fear among cannabis stock investors, there are still many new developments that could ease all worries. But it will come down to those invested and if they can see the bigger picture. Even if things legislative-wise don’t end up the way some hope there are still other factors that help see an overall better performance in the sector. As it’s still early in the new year for now it’s a game of patience to see what will happen. The marijuana stocks to watch below are just options to keep on your radar this week.

Top Marijuana Stocks To Watch This Week

GrowGeneration Corp. (NASDAQ:GRWG)
Hydrofarm Holdings Group, Inc. (NASDAQ:HYFM)

GrowGeneration Corp.

GrowGeneration Corp. through its subsidiaries owns and operates retail hydroponic and organic gardening stores in the United States. Back on January 13th, the company released its Q4 2021 earnings. At this time the company’s 2021 projected revenue is between $420 million to $422 million. Which is versus $193 million for full-year 2020. Next, the company’s same-store sales increase by 24.4% for full-year 2021 compared to 2020. Also A total of 24 new and acquired store locations in 2021, now with 62 locations nationwide.

Another highlight is on January 1, 2022, GrowGen acquired Mobile Media, Inc. The company they acquired is a leading indoor vertical mobile racking and benching system manufacturer. The Company will provide more financial details in early March 2022. So far GrowGen is gearing up to have another promising year which brings more eyes on the company. Hopefully, this progress helps GRWG stock see a better overall market performance.

Hydrofarm Holdings Group, Inc.

Hydrofarm Holdings Group, Inc. together with its subsidiaries, engages in the manufacture and distribution of controlled environment agriculture (CEA) equipment and supplies in the United States and Canada. In recent news, the company released a memo about reaffirming its fiscal 2021 outlook. The company reaffirmed its net sales and adjusted EBITDA outlook for the full fiscal year 2021.

As previously stated, the Company reaffirmed the following its net sales of approximately $470.0 million to $490.0 million. This represents a growth of 37% to 43% compared to fiscal 2020. Also, the company saw an Adjusted EBITDA of $47.0 million to $53.0 million.

Also its full-year organic growth of approximately 18% to 23% and M&A growth of approximately 19% to 20%. If the company can keep these numbers up 2022 could be a year of more progress for this marijuana stock to watch.

[ad_2]
Source link

BUSINESS