Canadian company OrganiGram Holdings Inc. is widely known for its cannabis and cannabis-based products. The company is known for manufacturing premium marijuana that can be used for both medical and recreational purposes.
The wholesale cannabis supply market is growing rapidly for the company.
Planning to invest in marijuana stocks in July 2022?
Many cannabis investors are actively trading cannabis penny stocks to take advantage of the price fluctuations caused by the current market volatility. Stocks that trade for less than $5 are called penny stocks. Active traders typically take advantage of the high price volatility of these marijuana stocks to gain a short-term competitive advantage.
We actively adopt trading and swing trading strategies. The delay in US federal cannabis legalization had a significant impact on market value as of 2022, and LPs are currently struggling to make a profit in Canada.
Traded on major US exchanges. As a result, investors’ interest in Canadian cannabis companies continues. This allows sector dynamics to begin with Canadian cannabis companies before they reach other markets. Take a closer look at the top three Canadian marijuana stocks from the August list.
Marijuana Penny Stocks For August 2022
- Cronos Group Inc. (NASDAQ: CRON)
- OrganiGram Holdings Inc. (NASDAQ: OGI)
- Aurora Cannabis Inc. (NASDAQ: ACB)
Cronos Group Inc., one of the world’s largest multi-billion dollar hemp traders, operates on five continents. The cannabis brand Kronos is acclaimed by Canadian consumers. Cronos also revealed $ 110.4 million spent buying a 10.5% stake in Pharma Cann.
Above all, the legalization of cannabis at the US federal level will affect acquisitions. The transaction includes 23 pharmacy locations, as well as 6 manufacturing facilities in PharmaCann.
Earlier this year, the company launched two new flavors of cannabis edible lines. Studies show that these new edible foods are clearly very popular with adult customers. The company and Geocann worked together to use it in June.
The company’s May quarterly report showed a net income of $25 million in the first quarter of 2022, up 99% year over year. Net sales in Israel were $9.1 million, up 263% year-over-year.
The company’s Q1 2022 net loss fell from Q1 2021 by $129 million to $32.7 million. Total revenue for the first quarter of 2022 was $6.9 million due to increased cannabis flower sales in the ROW sector. The company’s adjusted EBITDA was negative $18.9 million in the first quarter of 2022, an increase of $17.7 million from the same period last year.
The company and Geocann partnered in June to leverage VESIsorb delivery technology to accelerate absorption. The company will release its second quarter 2022 results on August 9 before Bell.
CRON Stock Performance
On July 26, CRON shares closed at $ 2.93, with a 52-week price range of $ 2.57 to $ 7.76. According to CNN business analysts, his 12-month consensus price target for CRON shares is $ 3.49 per share. This forecast represents a 19.06% increase from the final trading price of the stock price of $ 2.93.