2 Marijuana Stocks To Keep On Your Watchlist This Week
This week marijuana stock investors are watching for any signs of momentum. Even with some better days of trading this month overall the cannabis sector needs better consistency. The level of volatile trading is so high that it’s tough to know when there will be a recovery. Now with companies reporting earnings, it has helped a bit to some better trading.
But enough to sustain for long periods. It seems when there is news on federal reform comes into play it excites investors and oftentimes leads to better trading. Even with the sector lacking trading momentum people are starting to hunt for the best marijuana stocks to buy. When looking for marijuana stocks to buy make sure you conduct thorough due diligence. As well you want to take see how the company performs in the market.
At times some companies do better business-wise versus in the market. Still with the way the cannabis industry is growing now is a good time to get prepared for the future. Many feel this volatile downtrend will eventually end at some point and while it’s occurring it’s a buyer’s market. The companies below are a few marijuana stocks to watch for future investing and better trading.
Top Marijuana Stocks To Watch Today
Planet 13 Holdings Inc.
Planet 13 Holdings Inc. an integrated cannabis company, engages in the cultivation, production, distribution, and marketing of cannabis and cannabis-infused products for medical and retail cannabis markets in Nevada, the United States. The company has reported its Q1 2023 financial results.
Key Mentions And Highlights
- Revenue was $24.9 million as compared to $25.7 million, a decrease of 3.0%.
- Gross profit was $10.9 million or 43.7% as compared to $12.9 million or 50.2%.
- Total expenses were $15.3 million as compared to $16.6 million, a decrease of 7.8%.
- Net loss of $6.3 million as compared to a net loss of $2.1 million.
- Adjusted EBITDA of $0.68 million as compared to Adjusted EBITDA of $2.61 million.
Glass House Brands Inc.
It also provides raw cannabis, cannabis oil, and cannabis consumer goods to third-party retail stores; and owns and operates retail cannabis stores. Back in May, the company reported its first quarter 2023 financial results.
Q1 2023 Highlights
- Net Sales of $29.0 million increased 108% from $14.0 million in Q1 2022 and down 10% sequentially from $32.2 million in Q4 2022.
- Gross Profit was $12.0 million compared to $2.3 million in Q1 2022 and $10.2 million in Q4 2022.
- Gross Margin was 41%, compared to 17% in Q1 2022 and gross margin of 32% in Q4 2022.
- Adjusted EBITDA2 was $(0.1) million, compared to $(6.4) million in Q1 2022 and $(2.6) million in Q4 2022.
- Cost per Equivalent Dry Pound of Production3,4 was $196 a decrease of 18% compared to the same period last year and up 54% sequentially versus Q4 2022, which was expected due to seasonality.
- Equivalent Dry Pound Production3 was 48,099 pounds, up 188% year-over-year and down 36% sequentially, which was expected due to seasonality.
- Cash balance was $16.4 million at quarter-end, up 16% from Q4 2022 quarter end.
MAPH Enterprises, LLC | (305) 414-0128 | 1501 Venera Ave, Coral Gables, FL 33146 | email@example.com