2 Top Marijuana Stocks During The Holidays
In the last week or so of trading marijuana stocks have still been experiencing volatile trading. Much of this has been due to the battle to end cannabis prohibition. For some time now the process to end cannabis prohibition has been a nonstop battle. Due to this, the sector has been through many ups and downs. During this time many people were able to take advantage of how low the sector has dropped. Meaning people were able to find top marijuana stocks to buy.
Now even as some kept buying up shares not everyone was able to make a profit. Some investors were able to make gains off of some of these volatile swings in trading. Yet in the first 2 weeks of November cannabis stocks were able to see more consistency in the market. This was a big sign of relief for some mainly from how volatile the sector has been. But what the cannabis industry is waiting for is the passing of federal cannabis reform. This matter is causing issues in the sector as marijuana stocks are facing pullback once again.
Marijuana Stocks And The Progress Of The Industry
Nevertheless, outside of the market, a lot of progress has been made from M&A to various other ventures. For example, more cannabis companies have been able to open up more storefronts and cultivation facilities. With this alone, the future of some of these companies are looking even more promising. With more companies showing continued success more people are using that as a means to know whether to buy or sell. As more innovation and progress enter the industry more people are finding an interest in investing in legal cannabis. Just make sure to do your homework and learn what you can before you execute on any investment. Below are 2 marijuana stocks to watch this holiday season for better trading.
Top Marijuana Stocks To Watch In 2021
GrowGeneration Corp. through its subsidiaries owns and operates retail hydroponic and organic gardening stores in the United States. Back on November 11th, the company released its Q3 2021 earnings. During this time the company saw a record revenue with an increase of 111% to $116 million. Next, the company reached an Adjusted EBITDA of $10.8 million for the third quarter. As well comparable store sales for the quarter increased 15.7% from the prior year.
Another highlight is gross profits margin for the third quarter of 2021 was 29.4%. Which is compared to 26.5% in the same quarter last year, an increase of 290 basis points. Also E-commerce revenue, inclusive of Agron revenue, was $10.5 million. This is compared to $3.9 million for the same period last year. In July 2021, the company acquired the assets of Aqua Serene, Inc. The company is an indoor/outdoor garden center with stores in Eugene and Ashland, Oregon.
Words From The Company
Darren Lampert, GrowGen’s Co-Founder and CEO stated, “The GrowGen team delivered a strong third quarter, with revenues up 111%, compared to the same period last year in a difficult macro environment. Same-store sales at 25 locations increased 15.7% from the prior year. At present, we have 62 retail locations in operation.
Agrify Corporation develops precision hardware and software grow solutions for the indoor agriculture marketplace primarily in the United States. In the last several weeks the company has made important news updates. On the 1oth of November, the company released its Q3 2021 results. Some key moments at the time were the company revenue grew 460% Yoy. And 33% sequentially to $15.8 million in Q3 2021. As well new bookings were $32.2 million for Q3 2021. This made for a total backlog to increase to $117.5 million from $101.1 million at the end of Q2 2021.
Furthermore, Agrify expanded and amplified its partnership with existing customers, WhiteCloud Botanicals. At the same time, the company announced the strengthening of its executive leadership team. This is done to support growth initiatives. Thomas Massie has become the Company’s new President and Chief Operating Officer (“COO“) and Timothy Oakes is transitioning to Chief Financial Officer. Mr. Massie is a member of Agrify’s Board of Directors. To which he will continue in that role while also serving as the Company’s President and COO. Mr. Massie has extensive experience leading growth-oriented organizations.
[Read More] 2 Marijuana Stocks To Watch Before December 2021
Words From The CEO
“We are excited to further enhance and expand our executive leadership team as we position ourselves for the next phase of our organizational development,” said Raymond Chang, Chief Executive Officer of Agrify. “Thomas has a strong track record of driving rapid growth and implementing scalable processes and best practices, and Tim brings deep experience in leading finance and strategy for public companies.