These cannabis companies could be strong targets despite recent market dips
A new week has begun, and many cannabis industry experts suggest it’s a good time to take a look at a couple of marijuana stocks with a buy label. Cannabis stock investors remain focused on the future of the sector. Many, despite the volatility, remain bullish. Acreage Holdings and TerrAscend appear to be the two players to bet on in the penultimate week of March.
Formerly known as High Street Capital Partners, Acreage Holdings is one of the most relevant investment firms specializing in the cannabis industry. Headquartered in New York, the company has been in business for nearly a decade, bringing its level of expertise to the very top. The company most recently announced that floating shareholders approve the US strategic agreement with Canopy and Canopy USA.
“On behalf of the board of directors and the Company, I’d like to thank our Floating Shareholders for the strong support they have shown for this transformational arrangement with Canopy and Canopy USA,” Peter Caldini, CEO of Acreage, said. “This is an exciting opportunity for our shareholders to realize the value of their investment in the strong platform Acreage has built.”
On the other side is TerrAscend, a firm that focuses on the cultivation, processing, and sale of recreational and medical marijuana in the Canadian and US markets. In addition to manufacturing cannabis-infused artisanal edibles, it also produces and distributes hemp-derived wellness products to retail stores.
The company recently reported record net income for the fourth quarter and full year of 2022. Potential investors will surely be interested to know that this firm’s net income was $69 million, up 4.2% sequentially and 50.3% year over year.