February 8, 2025

Best Cannabis Stocks With Upside This Month

Best marijuana stocks right now on your watch list? After learning that Schumer had formally proposed the CAOA to the Senate, many of the top cannabis stocks to watch saw their prices rise. August could see continued growth for the cannabis industry as Congress continues to work on legislation to legalize marijuana.



Marijuanastocks.com – MarijuanaStocks

While the fight for reform and legalization of the US cannabis industry continues, there seems to be some progress in Congress. Senator Cory Booker recently said he is willing to support a SAFE Banking act that includes provisions for criminal justice reform and marijuana business banking. In fact, the SAFE Banking Act repeatedly passed the House but stalled in the Senate. Legal cannabis businesses will be able to deal with the American banking system thanks to this law.

Many active traders are now opening positions in some of the top marijuana stocks by taking advantage of lower price points. It is likely that the cannabis industry is preparing for a potential surge in August. We’ll examine three of the top marijuana stocks on your list in more detail next week as the overall markets continue to improve.

[Read More] Top Marijuana Stocks to Know About Before the New Week Begins

Best Marijuana Stocks To Watch 4th Week In August

  1. Power REIT (NYSE: PW)
  2. Hydrofarm Holdings Group, Inc. (NASDAQ: HYFM)
  3. Canopy Growth Corporation (NASDAQ: CGC)

Power REIT (PW)

Power REIT’s primary objective is to be a real estate investment trust that focuses on long-term investments with superior risk-adjusted returns. Several greenhouses and processing facilities are currently being added to Power REIT’s portfolio of CEA buildings. Generally, leases for buildings are taken by tenants who are given permission to grow medical marijuana on the property. Power REIT will use the money to complete the necessary upgrades to the properties that are ready for development. Power REIT owns greenhouse facilities with room for future growth.PW REIT

PW provided a business update on August 12 that showed steady quarterly FFO with room for more internal growth. In more detail, the Trust reported a Core FFO of $0.41 per share for the second quarter of 2022 as opposed to a Core FFO of $0.51 for the corresponding period in 2021. The company’s portfolio includes 112 miles of land in railway, 7 solar farm land lease. totaling 601 hectares, and 22 controlled environment agriculture (CEA) facilities in the form of greenhouses totaling more than 2.2 million square feet.

PW Stock Performance

PW stock closed on August 19th at $19.61 up 33.86% in the last five trading days. Currently, the stock has a 52-week price range of $11.04-$81.99 and is down 71.74% year to date. According to CNN Business analysts PW stock has a consensus price target of $44 per share. In this case, it would represent an increase of 124.72% from the last trading price of $19.61.

[Read More] Top Marijuana Stocks to Watch Before Next Week

Hydrofarm Holdings Group, Inc.

Hydrofarm Holdings Group, Inc. is a well-known reseller of hydroponic and controlled environment agricultural supplies and instruments. Generally, the business offers a wide selection of cannabis growing products. The company manufactures a variety of products, including growing supplies, temperature control systems, and high-intensity lights. On November 1, the business announced that it had successfully acquired Innovative Growers Equipment, Inc., a range of innovative products, and an intelligent brand. To provide the latest reverse osmosis water filtration technology and solutions, the company partnered with AXEON Water Technology in January.hyfm

The company’s second quarter 2022 results, from August 9, showed a drop in net income to $97.5 million from $133.8 million. In addition, gross income decreased from $29.6 million to $7.3 million. After corrections, gross profit increased from $9.1 million to $30.2 million. In contrast to its net profit of $2.3 million, or $0.05 per diluted share, Hydrofarm had a net loss of $203.3 million, or negative $4.53 per diluted share. As a result, an inventory reserve of $10.2 million and a non-cash charge for goodwill impairment of $189.6 million were included in the second quarter 2022 net loss. which will range between $330 million and $347 million for the full year. With adjusted EBITDA between $(25) million and $(16) million.

HYFM Stock Performance

HYFM Stock closed on August 19th at $4.25 up 10.39% in the last five trading days. The stock has a 52-week price range of $2.27-$56.31 and is down 84.98% year to date. According to analysts at CNN Business HYFM stock has a 12-month average price target of $3.88 per share. In this case, it is a decrease of 8.82% from the last trading level of $4.25.

[Read More] Can Marijuana Stocks Build Momentum After Earnings Report?

Canopy Growth Corporation

Canopy Growth has built a strong reputation as one of the leading producers and distributors of cannabis and products from Canada. Generally, the company mainly markets cannabis and hemp-based products in Canada, the US, and Germany. CBD drinks will be introduced in the US in 2021 thanks to a partnership between Canopy and Southern Glazers Wine & Spirits. To expand the range of products it distributes in Canada, Canopy acquired Supreme Cannabis Company, Inc., a premium cannabis business. The Martha Stewart CBD subsidiary increased its supply of Tropical CBD Wellness Gummies in March.CGC marijuana stocks

The results for the first quarter of the company’s fiscal 2023 were made public on August 5. The details show that net sales, which were $110 million in the first quarter of FY2023, fell by 19% from FY2022. A planned transition of the business to focus on higher margin, premium, and mainstream products. Unfortunately, this has resulted in a decrease in the amount of flower sales in the Canadian recreational cannabis market. This contributed to $66 million in Q1 FY2023 total global cannabis net revenue. Which represents a 29% decrease from Q1 FY2022 and is partly responsible for this decrease. The $2,088 million net loss in the first quarter of FY2023—an increase from $2,478 million in the first quarter of FY2022—was primarily due to non-cash fair value adjustments and a $1,725 ​​million goodwill impairment.

The corporation wants to improve its status among the high-end industries in Canada for the 2023 fiscal year. The company is also looking to advertise its products overseas, particularly in the Canadian entertainment industry. The Company estimates that these operations will deliver positive Adjusted EBITDA in FY2024, excluding costs related to the US THC.

CGC Stock Performance

CGC stock closed at 3.82 on August 19th increased by 46.36% in the last month of trading. Currently, the stock has a 52-week price range of $2.13-$18.00 down 56.24% year to date. According to analysts at CNN Business CGC stock has a 12-month median price target of $2.50 per share. in this case, the estimate would be a 34.73% decline from the last trading price of $3.82.

Making Better Investments And Trading With Cannabis Stocks

Finding the companies with the best cannabis stocks can be done by looking at a company’s financials and press releases. It is important to thoroughly research a company before considering a position. To execute trades more profitably, you can use technical indicators and chart patterns more effectively. Due to the rapid expansion of the domestic and global cannabis industry, small traders can benefit from the current market conditions. During a downturn, you may find it helpful to familiarize yourself with different trading strategies. The fourth week of August 2022 is the ideal time to add marijuana stocks to your watch list.

Leave a Reply

Your email address will not be published. Required fields are marked *