Because of delays in Congress establishing federal cannabis reform most of the best cannabis stocks to buy have declined significantly in the market.
According to a recent report from Statista spending on legal cannabis is forecast to reach $47.3 billion in North America by 2027. In 2021 that figure reached $17.7 billion showing significant growth potential in the future.
Although this did not translate into gains in the market in 2021 top-performing cannabis companies in the US are now the highest revenue-producing companies in the cannabis industry.
As top cannabis stocks set new lows to start January 2022 trading this could be an opportunity to find pot stocks at much lower values.
Trulieve released Live Diamonds, a hydrocarbon extraction product that is the first of its kind in Florida, on January 10th.
For the sixth quarter in a row, the company’s GAAP net income of $20.2 million, or $0.08 per diluted share, increased.
Curaleaf announced $317 million in revenue for the third quarter of 2021 in November, increasing 74 percent from the previous year.
Verano increased its footprint in Q3 by launching seven new dispensaries throughout its primary areas.VRNOF stock closed at $10.93 on January 21st down 14.24% in the past five trading days.
Another significant contributor to Cresco’s loss was a $291 million impairment charge linked to changes in intangible assets because of the company’s shift in strategy for its California operations.
Furthermore, the company achieved a new high with a 49 percent adjusted gross margin and $31 million in adjusted EBITDA, up 634 percent year over year.
On December 14th, Columbia Care, the UK’s first company to manufacture extract vaporization devices, revealed the UK’s largest line of medical cannabis extract vape pens.