Top Marijuana Stocks To Watch Next Month
Marijuana stock investors are focused on the future of the market. The current state of the cannabis industry is one of growth and innovation. All though there have been some hold-ups with regulations cannabis is still a hot sector. Unfortunately with a lack of federal reform, there is an increased level of volatility. Yet even in a volatile sector, there are still investment opportunities.
Even with more of a downside to the current volatile action, there have been some recoveries. Recently the Safe banking ACT was reintroduced and it created a nice spike in trading. Another helping catalyst could be some marijuana stocks are preparing to report quarterly earnings. At times when a company can show positive financials it can help with how the company trades.
Also when looking for marijuana stocks to buy companies that have the most success oftentimes see better odds of trading well. Still, you should always go into cannabis investing with a game plan. You want to also conduct thorough research and make sure you are picking the best cannabis companies. Almost halfway through 2023 and there is more to be seen and done in the industry. Below are a few marijuana stocks to watch for all round better trading this week.
Marijuana Stocks For Your 2023 Watchlist
- Greenlane Holdings, Inc. (NASDAQ:GNLN)
- High Tide Inc. (NASDAQ:HITI)
Greenlane Holdings, Inc.
Greenlane Holdings, Inc. develops and distributes cannabis accessories, vape solutions, and lifestyle products in the United States, Canada, and Europe. It operates in two segments, Consumer Goods and Industrial Goods. Recently the company announced a strategic packaging partnership with A&A Global Imports d/b/a MarijuanaPackaging.com.
Consistent with the partnership, MJ Pack will become Greenlane’s strategic partner to continue providing and enhancing packaging solutions.
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The partnership will also provide working capital to Greenlane and allow the Company to continue investing in its growing higher-margin consumer products business. This partnership allows Greenlane to complete a key warehouse consolidation. As well as continue cost-saving initiatives estimated to be over $3M annually.
High Tide Inc.
High Tide Inc. engages in the cannabis retail business in Canada, Europe, the United States, and internationally. The company manufactures and distributes smoking accessories and cannabis lifestyle products. On April 25th the company announced its Cabana club loyalty program has reached beyond 1 million members.
This figure represents over 110% growth from the 473,161 members of the Cabana Club on ‘4/20’ in 2022.
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The Company also announced that on April 20, 2023 ‘4/20’, it generated over CAD $2 Million in total retail gross revenues (“Total Sales”) across all retail platforms, representing a 64% increase from the previous Thursday.
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