5 Best Marijuana Stocks to Buy Now

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In this article, we will look at the 5 best marijuana stocks to buy now. If you want to explore similar stocks, you can also read 13 Best Marijuana Stocks to Buy Now.

5. SNDL Inc. (NASDAQ:SNDL)

Number of Hedge Fund Holders: 7

SNDL Inc. (NASDAQ:SNDL) engages in the production, distribution, and sale of cannabis products in Canada. The company operates through Cannabis Operations and Retail Operations segments. The company is involved in the cultivation, distribution, and sale of cannabis for the adult-use markets; and private sale of recreational cannabis through corporate-owned and franchised retail cannabis stores.

On August 12, SNDL Inc. (NASDAQ:SNDL) released earnings for the fiscal second quarter of 2022. The company reported a revenue of $175.18 million, up roughly 2300% year over year, and beat revenue estimates by $13.13 million. The company’s gross margin grew 1,627% year over year and amounted to C$43.1 million in the second quarter of 2022.

Hedge funds are raising their stakes in SNDL Inc. (NASDAQ:SNDL). At the close of Q1 2022, 7 hedge funds disclosed ownership of stakes in SNDL Inc. (NASDAQ:SNDL). The total value of these stakes amounted to $26.87 million, up from $10.18 million in the previous quarter with 8 positions.

As of June 30, GMT Capital owns roughly 2.11 million shares of SNDL Inc. (NASDAQ:SNDL) and is the largest shareholder in the company. The investment covers 0.04% of GMT Capital’s 13F portfolio.

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