2 Marijuana Stocks To Buy And Hold For A Recovery
Most cannabis investors are trying to remain patient with current trading going on with marijuana stocks. Still for the people who feel better days are on the way for marijuana stocks are taking advantage of the sector. Right now there is a volatile decline that is giving many the chance to find the top marijuana stocks to buy at low entry points. Now even if this volatility drops the sector even more this is where the patience comes into play waiting for a recovery.
Marijuana stocks have been facing a high degree of volatility for a while due to a number of factors. One of the main reasons is the uncertainty surrounding the future of legalization at both the federal and state levels in the United States. Additionally, the cannabis industry is still young and many of the companies operating in this space are growing and developing.
This means that there is a lot of speculation and uncertainty around which companies will succeed and which will fail. However, all of the above can ultimately lead to a better future for the cannabis industry and marijuana stocks. Still, if you find yourself looking to invest in cannabis stocks always create a plan and do your research. The companies below are a few marijuana stocks to watch in 2023.
Top Marijuana Stocks To Watch 2023
GrowGeneration Corp. through its subsidiaries, owns and operates retail hydroponic and organic gardening stores in the United States. Recently the company has announced its participation in several conferences that have passed.
As well back in May, the company announced it acquired 2 stores in Alaska. This was done to further expand its geographic footprint into another state.
Words From The Company
Darren Lampert, Co-Founder, and Chief Executive Officer of GrowGen, said, “We are excited to expand our retail footprint into Alaska, representing GrowGen’s 18th state and second new state this year. This transaction is part of our key initiative to continue making whitespace acquisitions and strategically invest our capital for future growth. Southside Garden Supply has successfully served the Alaskan growing market for many years, focusing on quality product offerings and a top-notch customer experience.
TerrAscend Corp. cultivates, processes, and sells medical and adult-use cannabis in Canada and the United States. The company produces and distributes hemp-derived wellness products to retail locations; and manufactures cannabis-infused artisan edibles. On June 8th the company announced it has grown its retail footprint in Maryland.
In addition to an agreement to purchase one of the top-performing dispensaries in the State. The transaction will add a second dispensary to the Company’s Maryland footprint in advance of adult-use sales, which will begin on July 1, 2023. Under the terms of the agreement, TerrAscend will acquire Peninsula Alternative Health for total consideration of US$22.1 million.
This includes US$1.5 million in cash, with the remainder in a combination of existing debt, a seller’s note, and stock.
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