May close on a high note for certain cannabis stocks
The last full week of May has just begun and there are still great opportunities to invest in marijuana stocks. Many of the stocks in this market continue to face a fair amount of volatile trading. While this may generate more caution, it is a time where risk can pay off quite well, especially with three stocks that seem to be in the crosshairs of many analysts.
Trulieve Cannabis has continued to prove its value over the past few months. With the help of its subsidiaries, this company has significant exposure to the medical marijuana market. Its business model is based on the cultivation and production of products, which are distributed to Trulieve-branded dispensaries in Florida. It also provides home delivery services.
On the other hand, Green Thumb Industries continues to focus on the manufacture, distribution and sale of various cannabis products for medical and recreational use in the US. Earlier this month, the firm released its earnings for the first quarter of the year. It looks like 2022 is looking pretty good for the company as revenues increased 25% year over year to $243 million. These figures were compared to the last quarter of last year.
And finally, there is Greenlane Holdings, a company that continues to demonstrate good results, even when headwinds are blowing. The company develops and distributes cannabis accessories, child-resistant packaging, vape solutions and lifestyle products in Canada, Europe and the US.
Compared to last year’s first quarter, the latest earnings report showed total revenues increased 37% to $46.5 million. The company also strengthened its leadership diversity and industry expertise.