The Best Marijuana Stocks For Your 2023 Trading Portfolio
If you have an interest in investing in top marijuana stocks here are some things to know. The current environment of the cannabis sector is one with increased volatile trading. This has been a big concern for some time now which has to do with a lot of uncertainties about the cannabis industry. For instance, some fear the industry can be shut down due to a lack of federal regulations. Although doubtful that will happen with all the progress and revenue being made.
But the lack of federal reform makes it tough for investors and the overall industry to reach its full potential. Yet some have been able to adapt to how the sector has changed. Many marijuana stocks used to trade with consistency and solid momentum. Even when there was a decline it was short-lived and companies would run back up to higher levels. As of now, that is not the case, and when there is a recovery it is short-lived and followed by a decline most times.
Marijuana stocks are being seen more as mid to long-term hold as far as investing due to how volatile the sector is. Still, those who have been able to keep up are remaining profitable when they see a chance to do so. Below are a few marijuana stocks to watch that could soon see better momentum in the market.
Top Marijuana Stocks To Watch 2023
- Village Farms International, Inc. (NASDAQ:VFF)
- HEXO Corp. (NASDAQ:HEXO)
Village Farms International, Inc.
Village Farms International, Inc. together with its subsidiaries, produces, markets, and sells greenhouse-grown tomatoes, bell peppers, and cucumbers in North America.
It operates through four segments: Produce, Cannabis-Canada, Cannabis-U.S., and Energy. In recent news, the company reported its Q1 2023 financial results.
First Quarter Financial Highlights
- Consolidated sales decreased 8% year-over-year to $64.7 million from $70.2 million;
- Operating loss before tax was ($6.1 million) compared with ($8.3 million);
- Consolidated net loss was ($6.6 million), or ($0.06) per share, compared with ($6.5 million), or ($0.07) per share;
- Consolidated adjusted EBITDA, a non-GAAP measure, improved to $0.5 million from negative ($6.1 million); and,
- The Pure Sunfarms revolving and non-revolving credit facilities were extended to a maturity date of February 7, 2026, under the same terms, conditions, and covenants as the original facilities maturing on February 7, 2024.
Management Commentary
“The first quarter was a solid start to 2023 as continued strong growth in our Canadian Cannabis business and steady sequential performance in our US Cannabis business were complemented by another quarter of significantly improved results in our Fresh Produce business,” said Michael DeGiglio, Chief Executive Officer, Village Farms.
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HEXO Corp.
HEXO Corp. together with its subsidiaries, produces, markets, and sells cannabis in Canada. The company offers its adult-use and medical products under the HEXO brand name. Recently ROSE LifeScience has added HEXO’s Québec portfolio for commercialization and distribution services. 
ROSE’s commercialization and distribution expertise will help to position HEXO’s Québec portfolio for further expansion in the province, complementing ROSE’s relationship with Tilray Brands, Inc. (“Tilray”), a long-standing ROSE commercialization and distribution partner.
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Words From The Company ROSE LifeScience Inc.
“This exclusive partnership further demonstrates ROSE’s status as a trusted Québec company serving the Québec consumer,” said Davide Zaffino, President and CEO, of ROSE LifeScience Inc.
MAPH Enterprises, LLC | (305) 414-0128 | 1501 Venera Ave, Coral Gables, FL 33146 | new@marijuanastocks.com
