As you know, Cannin’s Cannabis Stock Portfolios track large, mid-tier and small cap cannabis stocks. These include MSOs (multi-state operators) as well as other other little-known, up-and-coming contenders with near to medium term potential. Our team of experts are constantly evaluating and rebalancing these portfolios for maximum gains. But what are the top 5 cannabis stocks for 2022?
After rebalancing our portfolios this week, we’ve got exciting news about several new opportunities. However, there are many more exciting opportunities for the shorter term.
Keep reading to see our in-depth analysis for some of these lesser known cannabis stocks.
Top Cannabis Stock for 2022 #1: Curaleaf Holdings
Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) is a leading international provider of consumer products in cannabis with a mission to improve lives by providing clarity around cannabis and confidence around consumption. This cannabis stock made it to #1 on our list as we believe this is the strongest buy and hold cannabis stock in the sector.
As a high-growth cannabis company known for quality, expertise and reliability, the Company and its brands, including Curaleaf and Select, provide industry-leading service, product selection and accessibility across the medical and adult-use markets. In the United States, Curaleaf currently operates in 23 states with 108 dispensaries, 22 cultivation sites and over 30 processing sites, and employs over 5,000 team members.
Curaleaf International is the largest vertically integrated cannabis company in Europe with a unique supply and distribution network throughout the European market, bringing together pioneering science and research with cutting-edge cultivation, extraction and production. Curaleaf is listed on the Canadian Securities Exchange under the symbol CURA and trades on the OTCQX market under the symbol CURLF. For more information, please visit https://ir.curaleaf.com.
Top Cannabis Stock for 2022 #2: HEXO Corp.
Next on our list of the top 5 cannabis stocks for 2022 is HEXO Corp. (NASDAQ: HEXO) which is an award-winning licensed producer of innovative products for the global cannabis market. HEXO serves the Canadian recreational market with a brand portfolio including HEXO, UP Cannabis, Original Stash, Bake Sale, Namaste, and REUP brands, and the medical market in Canada, Israel and Malta.
Related: Cannabis Stock Signal Alert: HEXO
The Company also serves the Colorado market through its Powered by HEXO® strategy and Truss CBD USA, a joint venture with Molson Coors. In the event that the previously announced transactions to acquire 48North and Redecan close, HEXO expects to be the number one cannabis products company in Canada by recreational market share. For more information, please visit www.hexocorp.com.
Top Cannabis Stock for 2022 #3: 22nd Century Group
The next cannabis stock making our list is 22nd Century Group, Inc. (Nasdaq: XXII) which is a leading plant biotechnology company focused on technologies that alter the level of nicotine in tobacco plants and the level of cannabinoids in hemp/cannabis plants through genetic engineering, gene editing, and modern plant breeding. 22nd Century’s primary mission in tobacco is to reduce the harm caused by smoking through the Company’s reduced nicotine content tobacco cigarettes – containing 95% less nicotine than conventional cigarettes. The Company’s primary mission in hemp/cannabis is to develop and commercialize proprietary hemp/cannabis plants with valuable cannabinoid profiles and desirable agronomic traits.
Sure, 22nd Century Group seems like a great play based on the fundamentals but what are the technicals telling us? Pictured above is a chart of XXII. Notice that buyers showed up in the fall of 2020 and a rally from below 63 cents to a high of pretty much $3 in a couple of months time. This type of strong buying impulse is important because of almost always green weekly bars. In this strong up leg…there was 13 total weekly bars with only 2 weekly bars that were red.
This type of px action is a pure breakout/trend change px action. Once a market shows a clear trend, it tends to develop into a parallel channel or a trading channel that continues to drift to a mathematical measured move target. It seems overly simplistic but the mathematical nature of markets holds up over time.
Simply based on a projected move…this stock could hit $15+ in the coming year as the first target. I think it ultimately goes much higher if we look at the monthly charts. This week ending in Aug 27th, 2022 was a quality green weekly bar. Opening up more upside for this stock to keep trading higher.
Top Cannabis Stock for 2022 #4: Indoor Harvest Corp.
Indoor Harvest Corp. (INQD) is 4th on our list of the top cannabis stocks for 2022 as the company designs, develops and markets agricultural equipment. The Company manufactures aeroponic fixtures and support systems for the use in urban controlled environment agriculture and building integrated agriculture.
We tend to favor cannabis-ancillary stocks like INQD from a fundamental perspective – but what are the technicals telling us? Well, the weekly chart is constructive for INQD. PX action shows the downtrend from 2018 to June of 2020 (all time lows) is over. Buyers have stepped up since July 2020 and have created a bullish channel which projects higher prices. Looking for a 3rd wave higher which would target 6 cents to 10 cents a share. Volume remains very low before 2020 so we’re not sure how relevant the prices from 2017 to 2020 are for reference.
Top Cannabis Stock for 2022 #5: Two Rivers Water and Farming Company
Two Rivers Water & Farming Company (OTCQB: TURV) is certainly last but not least on our list of the top 5 cannabis stocks for 2022 as the company acquires, manages and develops the infrastructure of various agricultural industries, including land and water rights.
The company creates a positive social impact on communities through centering on sustainable economic development of infrastructure for land and water delivery in their rural community and investing in agriculture and infrastructure assets. Two Rivers land holdings stretch over 3 counties and include over 6,000 acres, including 1158 irrigated farmland.
From the sounds of it, Two Rivers Farming Company has an interesting business model – especially given the focus on water rights and irrigation services. We know that these will become great issues in the years to come. But what are the technicals for TURV showing us? In the chart above, we see substantial support for TURV below 12 cents a share — only traded below there during peak covid market stress. Buyers picked it up strongly in 2022 when it was at 6 cents a share. Also, seeing deep pullback from 55 cents a share to current prices of 16 cents a share. Overall, this chart shows consistent volume for a few years and now increasing volume…which is a good sign for continued market interest.
Technical traders will likely have stops below 4 cents. Currently seeing strong resistance in the 50 cents area. A strong good close above 50 cents is needed to open the door to much higher prices. TURV investor relations page has some very interesting articles on the potential of water rights, farming and privatized irrigation and TURV is the player for all of this. For us, this is our first time seeing a play on water rights and privatization of irrigation services. TURV is worth tracking for longer term play.
There you have it. The top 5 cannabis stocks for 2022. We like both Curaleaf and HEXO as large-cap, safer play cannabis stocks. However, investors should not ignore 22nd Century Group, Indoor Harvest Corp or Two Rivers Water and Farming company. These smaller players and up and coming and seem like great investments for more immediate, shorter-term gains.
Top 5 Cannabis Stocks for 2022
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