TLRY, CRON among top 5 cannabis stocks to explore in May

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TLRY, CRON among top 5 cannabis stocks to explore in May

TLRY, CRON among top 5 cannabis stocks to explore in May
Image source: © Chernetskaya | Megapixl.com

Highlights:

  • Tilray Brands, Inc. (NASDAQ: TLRY) net revenue surged 23% YoY in Q3, FY22.
  • Cronos Group Inc. (NASDAQ: CRON) net revenue jumped 99% in Q1, FY22.
  • GrowGeneration Corp. (NASDAQ: GRWG) revenue declined over 9% YoY in Q1, FY22.

The marijuana industry’s market value is anticipated to double by 2025. As governments discuss legalizing cannabis, the industry is upbeat about the opportunities that it would open up.

Cannabis has both medical and recreational use. For some illnesses, physicians prescribe cannabis-based drugs to patients. However, under the US federal law, the interstate cannabis trade is still banned, although the support for scrapping the ban has been growing.

The industry comprises companies that cultivate and retail cannabis products or develop cannabis-based medicinal products. The ancillary companies also provide various services.

Here we explore some of the top cannabis stocks that may continue to steal the limelight.

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Tilray Brands, Inc. (NASDAQ: TLRY)

Tilray develops cannabis-based pharmaceutical and recreational products. The New York-based company operates in various geographical locations.

The shares of the company traded at US$4.355 at 1:56 pm ET on May 10, down 0.80% from their closing price of May 9. Its stock value decreased by 40.6% YTD.

The firm has a market cap of US$1.93 billion, a P/E ratio of 22.87, and a forward one-year P/E ratio of -25.82. Its EPS is US$0.19.

The 52-week highest and lowest stock prices were US$23.04 and US$4.36, respectively. Its trading volume was 27,649,360 on May 9.

 

The company's net revenue increased by 23% YoY to US$151.87 million in Q3, FY22. Its net income came in at US$52.47 million, against a loss of US$258.64 million in Q3, FY21.

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Top cannabis stocks to explore amid Q1 earnings seasonSource: ©2022 Kalkine Media®

Jazz Pharmaceuticals plc (NASDAQ: JAZZ)

Jazz Pharmaceuticals is an Ireland-based biopharmaceutical company. It develops cannabis products for unmet medical requirements, especially in the areas of sleep and hematology.

The stock of the company traded at US$142.33 at 2:00 pm ET on May 10, up 0.32% from its previous closing price. The JAZZ stock rose 8.29% YTD.

The market cap of the company is US$8.79 billion, and the forward one-year P/E ratio is 9.64. Its EPS is US$-7.51.

The stock saw the highest price of US$189.00 and the lowest price of US$117.64 in the last 52 weeks. Its share volume on May 9 was 857,184.

The company's total revenue was US$813.72 million in Q1, FY22, as compared to US$607.58 million in the year-ago quarter. Its net income came in at US$1.64 million, or US$0.03 per diluted share, against an income of US$121.83 million, or US$2.09 per diluted share in Q1, FY21.

Meanwhile, it now expects its 2022 total revenue to be between US$3.5 billion and US$3.7 billion.

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Cronos Group Inc. (NASDAQ: CRON)

Cronos develops technologies for the cannabis industry. It is based in Toronto, Canada.

The shares of the company traded at US$3.25 at 2:05 pm ET on May 10, up 14.84% from their closing price of May 9. Its stock value declined 32.62% YTD.

The firm has a market cap of US$1.21 billion and a forward one-year P/E ratio of -11.79. Its EPS is US$-0.44.

The 52-week highest and lowest stock prices were US$9.42 and US$2.82, respectively. Its trading volume was 4,010,270 on May 9.

The company's consolidated net revenue surged 99% YoY to US$25.03 million in the first quarter of fiscal 2022. Its net loss was US$32.65 million, against a loss of US$161.62 million in Q1, FY21.

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GrowGeneration Corp. (NASDAQ: GRWG)

GrowGeneration is a hydroponic garden chain based in Greenwood Village, Colorado. It supplies various products and services, such as nutrients, greenhouse lighting, etc. 

The stock of the company traded at US$5.05 at 2:10 pm ET on May 10, down 3.07% from its previous closing price. The GRWG stock fell 62.27% YTD.

The market cap of the company is US$307.96 million, the P/E ratio is 24.14, and the forward one-year P/E ratio is 104.20. Its EPS is US$0.21.

The stock saw the highest price of US$52.80 and the lowest price of US$5.17 in the last 52 weeks. Its share volume on May 9 was 2,018,527.

The company's net sales decreased by 9.2% YoY to US$81.8 million in Q1, FY22. Its net loss came in at US$5.17 million, against an income of US$6.14 million in Q1, FY21.

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Cannabis stocks: TLRY, JAZZ, CRON, GRWG, IIPRData as of May 10

Innovative Industrial Properties, Inc. (NYSE: IIPR)

Innovative Industrial Properties is a real estate investment trust (REIT) focused on acquiring and leasing industrial properties to state-licensed medicinal cannabis operators. It is based in San Diego, California.

The shares of the company traded at US$130.115 at pm ET on May 10, down 0.20% from their closing price of May 9. Its stock value plunged 47.62% YTD.

The firm has a market cap of US$3.61 billion, a P/E ratio of 26.84, and a forward one-year P/E ratio of 16.24. Its EPS is US$4.83.

The 52-week highest and lowest stock prices were US$288.02 and US$130.06, respectively. Its trading volume was 447,599 on May 9.

The company reported total revenue of US$64.50 million in Q1, FY22, up 50% YoY. Its net income attributable to common stockholders came in at US$34.71 million, or US$1.32 per diluted share, as compared to US$25.58 million, or US$1.05 per diluted share in Q1, FY21.

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Bottom line:

Despite the growth potential, the cannabis sector is volatile and may have investment risks. Hence, investors should carefully evaluate the companies and the broader market before investing in cannabis firms.

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