2 Canadian Marijuana to Watch for Better Momentum
Marijuana stock investors still face a volatile industry as they look for a moment to take profits. With most marijuana stocks always trending up and down, this may be on the upside for some investors. On the one hand, when a drop occurs, it can be a chance to find the best marijuana stocks to buy. Also, when a volatile upside occurs, it may have a chance of taking profits if you are quick enough.
The inconsistency in how long a marijuana stock recovers is so short that it makes profit taking a challenge for some. Most publicly traded cannabis companies have an unpredictable trading pattern, which means is different from other stocks which may have particular patterns that most marijuana stocks do not. So how would a person know when something might happen or how to take profits when the time comes?
What most do is watch the industry closely for any changes that a person can take advantage of, as mentioned above. Along with that, you want to do your homework on every marijuana stock that you think will make a good investment. The more you know about a company inside and outside the market, the better your chances of limiting your risk and maximizing your reward. The marijuana stocks to watch below might just be the ones you need in your portfolio.
Marijuana stocks to watch this month
- SNDL Inc. (NASDAQ: SNDL)
- Cronos Group Inc. (NASDAQ: CRON)
SNDL Inc. is engaged in the production, distribution and sale of cannabis products in Canada. The Company operates through Cannabis Operations and Retail Operations segments. It is engaged in the cultivation, distribution and sale of cannabis for adult use markets; and the private sale of recreational cannabis through company-owned and franchised retail stores.
In breaking news, the company and IM Cannabis Corp have completed their first international export of premium flowers. This shipment was cannabis flower from Canada, then sent to Israel. This expansion marks an important milestone for SNDL as it enters the global market.
“We are delighted with our partnership with IMC, one of Europe’s most established and trusted medical cannabis companies,” said Andrew Stordeur, President and Chief Operating Officer of SNDL.
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Cronos Group Inc.
Cronos Group Inc. operates as a cannabinoid company. It manufactures, markets and distributes hemp-derived supplements and cosmetics through partner e-commerce, retail and hospitality channels under the Lord Jones and Happy Dance brands in the United States.
The Company is also involved in the cultivation, manufacturing and marketing of cannabis and cannabis-derived products for the medical and adult use markets. It has been a while since the Cronos Group has released new updates. In August, the company released its second quarter 2022 results on August 9.
- Net revenue of $23.1 million in Q2 2022 increased $7.4 million from Q2 2021
- Gross profit of $4.1 million in Q2 2022 improved $19.9 million from Q2 2021.
- Adjusted EBITDA of ($18.8) million in Q2 2022 improved $31.0 million compared to Q2 2021.
- Capital expenditures of $1.9 million remained virtually unchanged.
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“I am encouraged by the progress we are making to realign our businesses around our brands to become more efficient in our decision-making and agile throughout our supply chain,” said Mike Gorenstein, President and CEO. of Cronus. “Our supply chain transformation in Canada is going very well, with GrowCo achieving profitability year-to-date.