Search a ticker

Categories
Featured Investing Marijuana Stocks Stock Market Today Stocks to Watch

Cheap Stocks To Buy Now? 3 Marijuana Stocks To Watch

Could now be a good time for investors to start watching these US marijuana stocks?

cheap stocks to buy now (marijuana stocks)

Are These The Best Marijuana Stocks To Buy Now?

It’s no surprise that marijuana stocks have had a rough start in the stock market so far in 2022. Though, marijuana stocks have been on the rise in recent years, as the legal landscape surrounding cannabis has shifted. In recent years, the United States has also moved in a more pro-legalization direction, with a growing number of states decriminalizing or legalizing cannabis use. As a result, marijuana stocks have been gaining ground, and many experts believe that they will continue to do so in the coming years.

As a result, marijuana stocks could see significant growth in the next few years. This is evident with popular marijuana stocks like Green Thumb Industries Inc (OTCMKTS: GTBIF) and Innovative Industrial Properties Inc (NYSE: IIPR). In the last five years, these companies have seen their share price increase by 64.73%, and 415.97% respectively. If you’re keen on investing in the U.S. cannabis market for a potential buy [or avoid] hold long-term here are two top marijuana stocks to check out in the stock market today.

Marijuana Stocks To Watch Right Now

Curaleaf Holdings Inc. (CURLF Stock)

Starting today, Curealf Holdings Inc. (CURLF) is an international provider of consumer products in cannabis. The company aims to improve lives by providing clarity around marijuana and confidence around consumption. Currently, the company operates in 22 states with 136 dispensaries throughout the United States. In addition, Curaleaf employs over 5,700 team members.

Just last month, the company reported its Q2 2022 financial results. In the report, Curaleaf reported revenue of $338 million. This is compared with consensus revenue estimates of $312 million on a year-over-year basis. Curaleaf contributes its revenue growth to new retail store openings and the start of adult use in New Jersey. Separate from that, the gross profit margin advanced to 51.9% from 49.6% in the second quarter, of the year prior. With that, shares of CURLF are trading at $5.79 per share on Friday morning.

Boris Jordan, Executive Chairman of Curaleaf, said in his letter to shareholders, “Our record breaking second quarter got off to a great start with the launch of adult use in New Jersey and a historic 4/20. We bounced back from earlier headwinds to grow revenue 8%, and AEBITDA 18% sequentially, while continuing to execute on our growth strategy for Europe, a key differentiator for Curaleaf and a significant advantage over our competitors.” Shares of CURLF are currently down over 27% year-to-date. Though, in the last month of trading CURLF stock has rebounded 14%, while trading during Friday’s lunchtime session at $6.35 per share. With this in mind, will you be watching CURLF stock today?

Source: TD Ameritrade TOS

[Read More] Best Stocks To Invest In Right Now? 3 Defensive Stocks To Know

Trulieve Cannabis (TCNNF Stock)

Next, Trulieve Cannabis (TCNNF) is a leading vertically integrated cannabis company. In brief, Trulieve is involved in every step of the process from seed to sale. For a sense of scale, as of June 30, 2022, the company has168 dispensaries throughout the United States. In August, Truelieve released its second quarter 2022 financial results.

Diving in, Trulieve posted revenue of $320.3 million for the quarter. This reflects a 49% increase during the same period, in 2021. Additionally, the company completed the quarter with operations in 11 states. Meanwhile, they produced over 10 million finished goods units in the second quarter, a 79% jump year over year.

Trulieve CO Kim Rivers commented in her letter to shareholders, “Our team delivered strong second-quarter results with topline growth and margin improvement by staying focused on our plan. “During our mid-year strategic review, we identified proactive measures to address the rapidly evolving economic landscape.” Similar to CURLF, Trulieve stock has been beaten down by over 44% so far in 2022. Though, in the last month shares of TCNNF stock have rebounded by over 10%. During Friday’s lunchtime trading session TCNNF stock is trading at $14.85 per share. With its current momentum this quarter, do you think TCNNF stock is trading at a discount?

Source: TD Ameritrade TOS

If you enjoyed this article and you’re interested in learning how to trade so you can have the best chance to profit consistently then you need to checkout this YouTube channel. CLICK HERE RIGHT NOW!!

By Jonathan Phillip

Jonathan Phillip is an up and coming financial contributor in the stock market today. He's found a strong niche in writing about true growth industries. His main focus for the last 5 years has been on the cannabis industry and marijuana stocks. He is one of the top contributors to cannabis media outlets like MarijuanaStocks.com. He also is head of social media management for StockMarket.com.

Since an early age, Jonathan has been an active member of the cannabis culture. Coming from Miami, Florida, he's been able to identify emerging trends in the space including the emergence of cannabis derivatives, vapes, e-liquids, wax, and more. His ability to identify emerging niches has afforded him the ability to source valuable information from top industry names.

Jonathan has also managed to build a strong social media presence for companies. He has worked with hundreds of public companies to develop a digital presence. As an active blogger and social media influencer, his focus is on lifestyle segments of the market. You can find Jonathan reporting on anything from industry conferences and investor events to corporate disclosures and cannabis market movers.

Since the early days of marijuana companies going public, Jonathan has made it a point to find information before the crowd. The main target of his writing is on undiscovered or under-researched companies that could hold true, lasting market potential. Through his research, Jonathan has managed to be one of the early writers to identify the opportunity of cannabis over other things like alcohol and he was one of the first reporters to cover the multi-billion dollar deals that materialized in 2017 and 2018. He has also covered the emergence of multi-state operators in the U.S. after Canada paved the way in late 2018 and 2019 for legalization in North America.

Jonathan is also an active member of the underground hip-hop scene. He has worked with some of the biggest names in the rap community while also gaining valuable insight from top producers and business moguls focused on moving brands forward. In his free time, Jonathan builds social communities and continues to hone his skills as a leading financial writer.

Subscribe
Notify of
0 Comments
Inline Feedbacks
View all comments