Top Marijuana Stocks To Buy In August?

August_s-Top-Cannabis-Stocks_uLr09LDIv

August’s Top Cannabis Stocks

It has been a rough year for the cannabis industry as a whole, with fresh lows being set in early July. Stocks in the marijuana ancillary industry have fallen sharply so far this year. For those who do not already know, ancillary cannabis companies are enterprises that support the marijuana industry but do not touch the plant itself. The cannabis industry relies on a wide variety of firms.

In the first half of 2022, some ancillary cannabis stocks that are traded on the Nasdaq have seen a significant drop in their valuation. There are currently considerably better bargains to be had on marijuana stocks as a result. Stocks in some of these companies could serve as a starting point for long-term cannabis investments or as a way to profit from large short-term losses.

The stock market, according to many observers, has finally hit bottom and will soon rise again. Here are the top two pot stocks for August, which you may add to your portfolio.

Top Marijuana-Related Stocks to Watch in the Coming Months

  • Leafly Holdings, Inc. (NASDAQ: LFLY)
  • WM Technology, Inc. (NASDAQ: MAPS)

Leafly Inc.

Trading in Leafly Holdings Inc.’s common stock, LFLY, began on the NASDAQ in February, the well-known online cannabis marketplace and consumer guide announced.

Leafly is the best place to find and buy legal marijuana products worldwide. In any given year, Leafly is used by more than 125 million people who want to learn more about marijuana and make online purchases from surrounding dispensaries.

Technology and advertising services the company provides allow customers to make informed purchases and aid cannabis businesses in their efforts to recruit and keep loyal clients. The company’s online cannabis delivery service was introduced in California in May, allowing customers to order directly from the company’s website.

As per Leafly’s first quarter 2022 earnings report, revenues were risen 40% year-over-year to $57.5 million. In addition, there are currently 16.4 million monthly active users, an increase of 52% over last year. There was a 93% profit margin in the company’s $53.7 million gross profit.

The year before, the company had a net profit of $7.7 million; this year, it lost $31.2 million. In the United States, the legal marijuana industry is the largest employer, according to a company study of the industry’s employment that was released in February. Leafly was included in the Russel 3000 and 2000 indexes in June. After the market ends on August 11th, 2022, the company will reveal its financial results for the second quarter.

Find, order, and learn about weed | Leafly

Performance of the LFLY Stock

As of July 27th, LFLY’s stock price was $5.52, an increase of 16.46% in the previous five trading days. (The stock is currently trading at $4.00-$11.58 and has lost 44.74 per cent so far this year). The typical price estimate for LFLY stock, according to analysts at CNN Business, is $12 per share. A 117.39 per cent increase from the stock’s most recent trading price of $5.52 would be the case in this instance.

WM Technology

As well as an online store, Weedmaps is a cannabis industry user and business directory operated by WM Technology, Inc. WM Technology, Inc. owns a majority stake in the company. Cannabis retailers rely on WM Business’ cloud-based SaaS solutions to run their businesses.

Many of the products and services offered by WM enables the Companies easier to keep up with the ever-changing and complex legal requirements in the cannabis industry. In May, WM Technology added a digital payment system to their product line in Ontario. Curbside pickup, delivery, and cashless transactions have become increasingly important for small enterprises.

In 2021, the company purchased Sprout, a well-known CRM and marketing platform for the cannabis industry. In the US, Weedmaps now has over 18,000 business listings with an estimated monthly active user base of 13.9 million people. Currently, each paying member contributes an average of $3789 every month.

WM Technology - Crunchbase Company Profile & Funding

When Weedmaps released its first-quarter 2022 financial results in May, the company reported revenues had climbed by 40% year over year to $57.5 million. From one year to the next, there was a 16.4 million rise in the number of new monthly active users.

The company made $53.7 million in gross profit, or a 93% profit margin. It also recorded a $31.2 million loss in the third quarter, compared to the same period last year’s $7.7 million profit.

Performance of a stock of MAPS

On July 27th, MAPS stock finished at $3.30, down 2.65% over the last five trading days. The stock has a 52-week range of $3.005 to $16.02 and is now down 44.82 per cent year to date. It is estimated that MAPS stock will be worth $8.77 per share in the next year, according to Tip Ranks. At its current market price of $3.30, this would be a gain of 165.76 per cent.

Preparing For Q3 2022 By Purchasing Pot-Related Companies

The top marijuana stocks reached new lows this month’s trading sessions, so investors may find value in the stocks when they begin to rise. To determine if an asset is appropriate for your trading strategy and portfolio, review the financial statements and press releases of a company.

If you understand how technical indicators and chart patterns function, you can make better trading judgments. Active traders in August may benefit from the current cannabis market volatility by making short-term gains in the month of August.

Related Posts

Leave a Reply

Your email address will not be published.