2 Marijuana Stocks To Watch Before Thanksgiving
Marijuana stock investors are looking forward to the road ahead. Not just because cannabis companies are releasing earnings this month. Right now many are refocusing on the push for federally legalizing cannabis or cannabis banking. With the new year among us presents yet another chance to pass federal reform. In the last several month’s Chuck Schumer and Cory Booker have publicly stated that they feel congress is close to passing federal reform. This news once released led to seeing better trading for most marijuana stocks. A good amount of people feel that once federal reform is made law will create a rise in trading.
Now, this is just speculation as volatility has also been present for marijuana stocks. Yet from this speculation there has been more trading going on. Some who see that the sector is facing a volatile decline usually start to look for marijuana stocks to buy. Others who are able to catch a moment of recovery will take profits. Many of the people who trade marijuana stocks have had to adjust to the volatile action. However, the cannabis industry is still developing and evolving. Hopefully with this growth will come better investment opportunities. So if you are on the hunt for cannabis stocks the companies below could be something to look into.
Top Marijuana Stocks To Watch 2023
Jushi Holdings Inc.
Jushi Holdings Inc. a vertically integrated cannabis company, engages in the cultivation, processing, retail, and distribution of medical and adult-use products. It focuses on building a portfolio of cannabis assets in various jurisdictions around the United States. Over the last week, the company has made a few key updates.
On November 14th the company released its preliminary 3rd quarter 2022 financial results. In more recent news the company also announced proposing debt financing. Pursuant to the terms of the Offering, the Company may issue additional Notes on the same terms, subject to market conditions and investor interest.
Third Quarter 2022 Financial Highlights1
- Total revenue of $72.8 million, an increase of 34.9% year-over-year, and flat as compared to the quarter ended June 30, 2022 (“Q2 2022”)
- Gross profit of $27.7 million, an increase of 18.9% year-over-year and 4.0% as compared to Q2 2022
- Net loss in the range of $52.9 to $62.8 million
- Adjusted net loss2, excluding the after-tax indefinite-lived asset impairment charge, of $28.1 million
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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. Recently the company reported its Q3 2022 financial results.
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Q3 2022 Financial Highlights
- Revenues were $25.6 million as compared to $33.0 million, a decrease of 22.2%
- Gross profit was $10.6 million or 41.2% as compared to $17.7 million or 53.8%
- Net loss before taxes of $4.0 million as compared to a net income of $0.7 million
- Net loss of $6.3 million as compared to a net loss of $2.7 million
- Adjusted EBITDA of $0.4 million as compared to Adjusted EBITDA of $2.6 million