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3 Top Marijuana Stocks To Watch Before Thanksgiving
Marijuana stocks are still facing some pullback in the market. The concern is with federal reform in a bit of hold up what will help bring the sector back up. Well to take a step back the first 2 weeks of November marijuana stocks were looking good. Right before this time, cannabis stocks were seeing only small volatile pops in trading. Nothing that was able to be sustained to a higher market position. Yet in the first 14 days of November, there was a good amount of buildup and progressive news. For example, prior to the current hold up the news of bipartisan support helped increase momentum.
As well November is the time when many top cannabis companies began to release earnings. And with the success out of the market showing promising results, this all played a factor. These first 2 weeks of November were a sign that better trading can exist in a down market. The only thing there needs to be is the correct catalyst to make it happen. Now with a new week of trading underway, there has been supportive news about progress with federal reform. Hopefully, this news will resonate well with the cannabis sector. In addition to more companies are soon to release more earnings.
Yet for any reason things don’t pick up it’s not a total loss. If at any time pot stocks can not see a recovery it gives more time to find top marijuana stocks to buy. Still with how the current sector is performing keeping a watchful eye for any sudden change is key. This sudden change in trading happens more often with marijuana stocks. Mainly due to how volatile the overall sector can be. Nevertheless with the correct due diligence and know-how being able to see gains is possible. So with this, the marijuana stocks below are just a few options to consider this week for better trading.
Planet 13 Holdings Inc. a cannabis company, cultivates, produces, distributes, and markets cannabis and cannabis-infused and related products for medical and retail cannabis markets in Nevada, the United States. Over the last 2 months, the company has made some important news updates. For starters, the company announced back in October it has finalized the acquisition of its deal for its Florida cannabis license. In the company’s most recent news it has announced it will be releasing there Q3 financial earnings.
The release is set for this week. Planet 13 Holdings will host a conference call on November 23rd, 2021 at 5:00 p.m. ET. This will be done to discuss its third quarter ended financial results and provide investors with key business highlights. The call will be chaired by Bob Groesbeck, Co-CEO, Larry Scheffler, Co-CEO, and Dennis Logan, CFO. If the company can show promising results along with profitability it may help with PLNHF stock before December.
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Jushi Holdings Inc. a vertically integrated cannabis company, engages in the cultivation, processing. In addition to retail, and distribution of medical and adult-use products. It focuses on building a portfolio of cannabis assets in various jurisdictions across the United States. For example in Pennsylvania, Virginia, Ohio, Illinois, California, Nevada, and Massachusetts. Back on November 17th, the company released its Q3 2021 earnings report. During this time the company saw its revenue increase by 116.7% to $54.0 million. Which is in comparison to the company’s Q3 earnings of 2020.
Next Jushi also saw a gross profit of $24.5 million. This made for an increase of 11.4% sequentially and 99.6% year-over-year. Another highlight was Jushi expanded its Nevada footprint with a definitive agreement to acquire The Apothecarium. Which is a company that runs adult-use and a medical retail dispensary. In addition to announcing the appointment of Brendon Lynch as Executive Vice President of Retail Operations. With all this going on the publicly traded side of its business stands a good chance at increasing. Especially with a focus around top marijuana stocks like JUSHF stock.
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Cresco Labs Inc. together with its subsidiaries cultivates, manufactures, and sells retail and medical cannabis products in the United States. It provides cannabis in flowers, vape pens, live resins, disposable pens, and extracts under the Cresco brand. In the last 2 weeks, Cresco Labs has made some important company updates. To start back on the 10th of November Cresco announced its third-quarter 2021 results.
Some highlights from Q3 are the company revenue reached $215.5 million. Which was an increase of 2.6% quarter-over-quarter and 40.6% year-over-year. Also, the company saw an Adjusted EBITDA2 of $56.4 million, or 26.2% of revenue, an increase of 24.0% quarter-over-quarter. Record retail revenue of $106.2 million from 37 stores. In more recent news the company announced its flagship Illinose dispensary opened right across from Wrigley Field.
“This is a one-of-a-kind Sunnyside that will better accommodate our existing patients and consumers and act as a showcase for the millions of visitors to the Wrigleyville neighborhood each year. It will feature unique product activations, 21 points of sale and plenty of space to serve patients and customers on high-traffic days when baseball games, concerts and large-scale events are taking place next door,” said Charlie Bachtell, Cresco Labs’ CEO & Co-founder.