Marijuana Stocks to Watch: Sunniva Inc. Releases Q3 Results

marijuana stocks

The marijuana sector is hot at present. It doesn’t take a scientist to work out why. It’s a good time to be on the hunt for marijuana stocks and today we’re going to look at Sunniva Inc. (CSE:SNN) because this stock could give a lot of bang for your buck.

Marijuana Stocks to Watch: Sunniva Inc.

Sunniva released some impressive Q3 results today that could leave investors chomping at the bit. Before we get into that though, let’s take a look at some of Sunniva’s fundamentals.

Sunniva is a vertically integrated cannabis company. Therefore, through its subsidiaries, it operates across every area of the cannabis industry from cultivation and processing, to biotech research and selling. This puts it in a unique position to constantly stay afloat.

It also operates in the world’s two largest cannabis markets—Canada and California. So it is, quite literally, in the heart of the action and able to take advantage of both recreational and medical markets. It has the use of large-scale greenhouses along with large cultivation and extraction facilities; important to note that this marijuana stock can produce at scale for a market that demands a lot of product.

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Marijuana Stocks: Sunniva in 2019

Looking ahead, Sunniva intends to “launch [its] first Sunniva branded products in the first quarter of 2019” this will include a “suite of branded products in various product categories including flower, pre-rolls, beverages, vape cartridges, and extracts.”

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According to Sunniva CEO Anthony Holler another, sizeable, greenhouse nears completion:

“We continue to make progress towards completion of Phase 1, the first 325,000 square feet, of our purpose built, high-technology cannabis greenhouse in Cathedral City, California.”

Q3 Results

So when looking for marijuana stocks to watch, location and scale are important factors. And to prove that business is ticking along just nicely, the Sunniva Q3 2018 results showcased the following highlights:

  •  Revenue of $3.8 million with a gross margin of 56%.
  •  Year to date revenue of $13.4 million—up more than 30% year-over-year.
  •  Closed $23 million bought deal financing.

This marijuana stock is selling for $4.37 at the time of writing, so it still remains in the penny stocks range at this time. With a market cap of $159 million, Sunniva is positioning itself to be a real force in the cannabis industry.

What do you think?

Featured Image: Depositphotos/© depositedhar