Best stocks of auxiliary cannabis for January 2022
Best Marijuana Stocks for Your Watchlist in Q1 2022
Are you looking for ways to invest in the best marijuana stocks for 2022? In general, the cannabis industry suffered significant declines over the past year due to delays in federal marijuana legalization and reform. This has given cannabis stocks a lot more potential for the new year. The best cannabis stocks to buy last month fell in December to new 52-week lows. This could be a good opportunity for investors to find pot stocks for 2022.
As the new year begins, the possibility of seeing some form of federal legalization of cannabis increases due to the upcoming election. Currently, more than two-thirds of Americans believe cannabis should be legal, and many new states are launching legal medical and recreational markets this year. Auxiliary marijuana stocks is an area that is positioned to grow alongside the cannabis industry this year. Auxiliary cannabis companies are companies that support the cannabis industry without touching the plant itself.
In 2021, these companies have grown significantly as the industry expands in the United States and internationally. Typically, some of these companies provide the equipment used to grow cannabis and others provide online services and connect customers with cannabis dispensaries and knowledge. Over the next five years, the cannabis market is expected to more than double in size. Many analysts are currently forecasting a significant rise in the best marijuana stocks to buy in 2022.
How to invest in the best potted stocks in 2022
Before investing in cannabis stocks, it is important to always do your due diligence on a business. Researching a company’s financial results and studying how a stock is performing in the market can help you establish the best positions for investments. In general, learning how to find good entry points and set appropriate stop losses to minimize any downside can help you become a successful trader. As we begin the first week of trading for 2022, let’s take a look at the top 3 ancillary marijuana stocks for January.
[Read More] Top 10 Marijuana Stocks For Your 2022 Watchlist
Best Auxiliary Cannabis Stocks for the 2022 Watchlist
- Hydrofarm Holdings Group, Inc. (NASDAQ: HYFM)
- WM Technology, Inc. (NASDAQ: MAPS)
- Merida Fusion Corp. I (NASDAQ: MCMJ)
Hydrofarm Holdings Group, Inc.
Hydrofarm Holdings Group, Inc. is a leading distributor and manufacturer of equipment and supplies for hydroponics and controlled environment agriculture. In general, the company offers a wide range of equipment to aid in the production of cannabis. The company’s products include high-intensity grow lights, temperature control systems, and growing materials, among others. In addition to a diverse range of original and creative branded items. The company announced on November 1 that it has completed the acquisition of Innovative Growers Equipment, Inc.
Hydrofarm reported profitability for the third quarter of 2021 in November, with net sales of $ 123.8 million, up 28.1% year-over-year. The company’s gross profit reached $ 30 million, or 24.2% of net sales. As a result, the Company’s adjusted EBITDA increased 116.7% year-over-year to $ 16.1 million. The company reiterated its previous net sales forecast of $ 470 million to $ 490 million for 2021. The company also announced the acquisition of Aurora Innovations and Greenstar Plant Products, Inc. This purchase is part of continued efforts by Hydrofarm to acquire manufacturers of branded products in important CEA categories.
HYFM share performance
HYFM Stock closed on December 31st to $ 28.29, down 14.27% over the past month. The stock has a 52-week price range of $ 24.35 to $ 95.48 and is down 46.20% year-to-date. HYFM stock has a 12-month average price target of $ 49 per share, according to CNN Business analysts. In this case, that would represent a 73.27% increase from its last trading level of $ 28.29. Currently, analysts at CNN Business have listed HYFM stock as a buy. As of January 2022, HYFM might be the best ancillary cannabis stock for your list right now.
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WM Technology, Inc.
Weedmaps is an online SEO marketplace and the primary hub for cannabis users and businesses. It is a subsidiary of WM Technology, Inc. WM Business cloud-based SaaS solutions are widely used by cannabis stores as an operating system. WM Business products help comply with the complex and ever-changing rules of the cannabis industry in general. Earlier this year, Weedmaps announced a multi-year deal with Kevin Durant’s Thirty-Five Ventures, as well as a sponsorship deal with Boardroom. In September, the company purchased Sprout, a renowned cannabis marketing and CRM platform.
In the United States, Weedmaps now has over 18,000 business listings and approximately 13.9 million monthly active users. Average monthly income per paying customer rose to $ 3,817, up 7%. In November, the company reported revenue of $ 50.9 million for the third quarter of 2021. Revenue in the United States increased 46% year-over-year as of September 30, 2021, to 13, 9 million monthly active users. Additionally, gross profit was $ 48.8 million, with net profit of $ 49.2 million. WM expects sales of $ 50-52 million in the fourth quarter of 2021. The company released the first-of-its-kind study of the U.S. cannabis industry in November.
CARDS Stock performance
MAPS stock closed at $ 5.98 on December 31st down 16.60% last month. Currently, the stock has a 52-week price range of $ 5.48 to $ 29.50 and is down 51.21% year-to-date. According to analysts at Tip Ranks, MAPS stock has a 12-month consensus price target of $ 13.80 per share. Essentially, that would be a 130.77% rise from its last trading price of $ 5.98. As a leader in the pursuit of ending the cannabis ban, the MAPS stockpile could be one of the best marijuana stocks for your watchlist in January 2022.
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Merida Merger Corp. I (Leafly)
Leafly is a cannabis discovery market that aims to educate over 125 million people about the plant. This sophisticated e-commerce solution helps shoppers make informed purchasing decisions and helps cannabis companies gain and retain customers through advertising and technology services. In December, Leafly.com said it was on track to meet its financial goals for 2021, implying the leading cannabis-focused website to outperform the broad market ahead of its Nasdaq debut next month. . The United States Securities and Exchange Commission approved the company’s registration statement earlier today, opening the door for its publication following a vote by shareholders of merger partner Merida Merger Corp I. Merida , a special purpose acquisition company, said its shareholders will vote on the August deal on Jan. 14.
Leafly released its financial results for the first three and nine months of 2021 in November. For the nine months ended September 30, 2021, the company generated revenue of $ 31 million. As a result, Leafly made a gross profit of $ 27.4 million. Revenue increased 21% year-on-year in the third quarter of 2021, an increase of 11% year-on-year.
“Our positive year-to-date results, building on the momentum we have generated over the past year, is a testament to the strength of our market and the dedication of the skilled and growing Leafly team. fast. “As we accelerate our next phase of growth, entering public markets through our partnership with Merida Capital will facilitate significant investments in our brand platform, robust advertising tools, and unparalleled insight and insight – while strengthening our leadership position in the new East Coast Markets.
Yoko Miyashita, CEO of Leafly
MCMJ share returns
MCMJ stock closed at $ 9.99 on December 31st before the end of the merger. Currently, the stock has a 52-week price range of $ 9.75 to $ 11.27 and has traded relatively stable over the past year. According to a Market Beat analyst, MCMJ stock has a consensus price target of $ 15 per share. In this case, that would represent an increase of 50.2% from its current price. As a new marijuana stock for cannabis investors, MCMJ stock could be a top cannabis stock for your roster in 2022.
Top Ancillary Cannabis Stocks post for January 2022 appeared first on Marijuana Stocks | Cannabis investments and news. Roots of a budding industry. (TM).
COMTEX_399944586 / 2683 / 2022-01-02T12: 30: 45
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