Will these marijuana stocks see a surge in trading this month?
Investing in marijuana stocks doesn’t have to be a difficult process. For those looking to get involved, now is the best time to do so. With much to do in the future development of the cannabis industry, more opportunities are on the way. For example, if more states can legalize cannabis, it will create more jobs and more revenue. Additionally, more and more cannabis companies have teamed up to create what some call super companies. This month, cannabis companies begin reporting revenue.
Marijuanastocks.com – MarijuanaStocks
Although some companies fell short of their planned price targets, overall progress has resumed and the numbers have increased. Now, for some companies, they continue to push the boundaries by producing back-to-back record quarters. All of the above could be a good driver for various cannabis stocks. Since the beginning of August, the momentum has started to improve for some companies, mainly based on the information above. Now, the ongoing battle to pass federal reform is a double-edged sword for marijuana stock investors.
So the good thing is that when positive news comes out most of the time, the sector responds well and there is an increase in trading. The other side is that when legislation stagnates or fails to pass, it leads to another decline or lack of momentum in the sector. Still, the absence of federal reform means a better chance of passing it and a better chance of seeing better trading along the way. If you are looking to invest in marijuana stocks, always do your research first. The companies mentioned below are marijuana stocks to watch in the market today.
The best marijuana stocks for your 2022 investment portfolio.
- Greenlane Holdings, Inc. (NASDAQ: GNLN)
- High tide inc. (NASDAQ: HITI)
- Hydrofarm Holdings Group, Inc. (NASDAQ: HYFM)
Greenlane Holdings, Inc.
Greenlane Holdings, Inc. develops and distributes cannabis accessories, child-resistant packaging, vaping solutions and lifestyle products in the United States, Canada and Europe. It operates through two segments, consumer goods and industrial goods. In recent news, the company released its second quarter 2022 results. 
Strong points
- Q2 2022 revenue increased 15% to $39.9M from $34.7M in Q2 2021. For the six months ending June 30, 2022, revenue was $86.5M, or an increase of 25.8% over the $68.7 million reported for the comparable period of the previous year.
- Basic and diluted net loss of $2.27 per share compared to a loss of $3.23 per share for the prior year quarter and a loss of $5.57 for the prior six months compared to a loss of 9, $07 for the comparable period of the previous year.
- Adjusted EBITDA loss for Q2 2022 was $5.8 million or $1.09 per share, compared to loss of $3.7 million or $3.92 per share for Q2 2021.
High tide inc.
High Tide Inc. has cannabis retail operations in Canada, Europe, the United States and internationally. The company designs, manufactures and distributes cannabis smoking accessories and lifestyle products. On August 4, the company announced that it had closed the first tranche of its acquisition of Choom.
This company adds two established cannabis retail stores in British Columbia and six in Alberta. The Company intends to complete the acquisition of the ninth store in Niagara, Ontario, pending regulatory approvals.
[Read More] 3 Canadian marijuana stocks to buy in mid-August?
Hydrofarm Holdings Group, Inc.
Hydrofarm Holdings Group, Inc. and its subsidiaries are engaged in the manufacture and distribution of controlled environment farming (CEA) equipment and supplies in the United States and Canada. In recent developments, the company released its second quarter 2022 results.
[Read More] 2 Marijuana Stocks to Watch to Start Your Trading Day
Highlights and key mentions
- Net sales decreased to $97.5 million from $133.8 million.
- Gross profit decreased to $7.3 million from $29.6 million. Adjusted gross profit(1)(2) was $9.1 million compared to $30.2 million.
- Net loss was ($203.3) million, or ($4.53) per diluted share, compared to net income of $2.3 million, or $0.05 per diluted share. The net loss in the second quarter of 2022 included a non-cash charge of $189.6 million in goodwill impairment and an inventory reserve of $10.2 million. Adjusted net loss(1)(2) was ($8.4) million, or $(0.19) per diluted share, compared to adjusted net earnings(1)(2) of 12. $9 million, or $0.31 per diluted share.
- The Company recorded an inventory reserve of $10.2 million during the quarter, which was not treated as an adjustment. Adjusted EBITDA(1)(2) decreased to ($6.8) million from $16.2 million.
