2 Canadian Marijuana Stocks For Your 2022 Watchlist
Top Canadian Marijuana Stocks To Watch In The Market Today?
During August, marijuana stock investors saw an increase in volatile trading. Much of this market behaviour from marijuana stocks is based on investors’ speculation. Now, the overall growth and success of the cannabis industry are being tracked by many cannabis enthusiasts. The progress that happens out of the market can directly impact how the sector performs. In the last six months to a year, many publicly traded cannabis companies have seen their operations reach new levels. For some, this has come in the form of new dispensaries and cultivation facilities.
New products, or even new team and board members, can also adversely affect marijuana stocks’ trading. History has also shown that with the right catalyst, marijuana stocks could see sustained trading. In fact, many feel that when federal reform is made law, it will spark a possible run. This is just a belief, but investors have been known to buy or sell from speculation, as mentioned above.
Still, if you are looking to invest in cannabis stocks, make sure you build a game plan. With this up-and-down trading, you always want to buy low and sell high. Also, you want to learn about current info on the possible companies you feel hold value. Doing this will give you the best chance at knowing which marijuana stocks are worth taking the risk on. The companies below are a few marijuana stocks to watch before September.
Aurora Cannabis Inc.
Aurora Cannabis Inc. produces, distributes, and sells cannabis and cannabis derivative products in Canada and internationally. It also engages in facility engineering and design, cannabis breeding, research, production, derivatives, product development, wholesale, and retail distribution activities. It has been some time since the Company made any new updates. However, two months ago, Aurora made two key news announcements.
The Company closed its previously announced bought-deal financing at the start of June. The Company sold approximately 70.4 million Units at a price of US$2.45 per Unit. This also includes approximately 9.2 million Units sold under the whole exercise of the underwriters’ over-allotment option.
Next, the Company also announced the repurchase of US$20 million of convertible notes. The transaction was intended to reduce the Company’s debt and annual cash interest costs. Yearly cash interest savings from the repurchases of Notes made from Q3 2022 onwards total $9.5 million.
Neptune Wellness Solutions Inc.
Neptune Wellness Solutions Inc. operates as an integrated health and wellness company in Canada, the United States, and internationally. It builds a portfolio of lifestyle brands and consumer packaged goods products. On August 15th, the Company released its fiscal first quarter 2022 financial results.
First Quarter 2023 Financial Highlights
- Fiscal first quarter 2023 revenue totalled $16.3 million, compared to $10.1 million or an increase of 61% for the same period in fiscal 2022.
- Reported fiscal first quarter 2023 gross profit loss of $2.9 million compared to a gross profit loss of $2.3 million for the fiscal first quarter 2022.
- Adjusted EBITDA (non-GAAP)1 loss for the fiscal first quarter of 2023 was $9.8 million compared to an Adjusted EBITDA (non-GAAP)1 loss of $12.9 million for the fiscal first quarter of 2022.
- Reported first-quarter net loss of $6.5 million compared to a reported net loss of $18.9 million in the prior comparable period in fiscal 2022
