Top Pot Stocks 2nd Week Of May 2023

2 Marijuana Stocks To Buy And Sell Before And After Earnings?

Investing in marijuana stocks can be considered a high-risk, high-reward investment opportunity. The legalization of marijuana in some countries and states has created a growing market for marijuana products. Which also includes medicinal and recreational use. As a result, many companies involved in the production, distribution, and sale of marijuana products have seen significant growth in recent years. This has intrigued many people to begin the search for the best marijuana stocks to buy.

However, there are also several risks associated with investing in marijuana stocks. This involves regulatory uncertainty, market volatility, and potential changes in laws and regulations that could impact the sector. All of the above factors have played a part in how most cannabis stocks perform. With no federal reform in place, it has led to fear and concern which the sector is feeling. It is important to carefully assess the potential risks and rewards of any investment opportunity before making a decision.

As well it’s important to have a strategy that allows you to adapt to the way the sector is performing. So for example how the sector is consistently fluctuating taking up a position when the market declines is a standard setup for when it recovers. Essentially buy low and sell high but being able to do so in a volatile sector. Below are 2 marijuana stocks to watch as a new week of trading begins.

Marijuana Stocks To Watch Today

  1. GrowGeneration Corp. (NASDAQ:GRWG)
  2. The Scotts Miracle-Gro Company (NYSE:SMG)

GrowGeneration Corp.

GrowGeneration Corp. through its subsidiaries, owns and operates retail hydroponic and organic gardening stores in the United States. GRWG

In recent news, the company has scheduled its Q1 2023 earnings release and conference call for May 9th. In other company news, GrowGen acquired a store in Jackson Michigan.

Words From The Company

Darren Lampert, Co-Founder, and Chief Executive Officer of GrowGen, said, “We are excited to expand our retail footprint in Michigan with this strategic transaction which represents our eighth location in the state. Mighty Grow has successfully served the broader Jackson growing market for over 10 years by focusing on customer service and offering high-quality supplies to its customers. We look forward to continuing this location’s strong legacy and providing the same caliber of service and product offerings to the local and surrounding growing markets.”

[Read More] 2 Top Marijuana Stocks To Buy For Cannabis Investing?

The Scotts Miracle-Gro Company

The Scotts Miracle-Gro Company is involved in the manufacture, marketing, and sale of products for lawn, garden care, and indoor and hydroponic gardening in the United States and internationally. smg stock

It operates through three segments: U.S. Consumer, Hawthorne, and Other. Recently the company reported its Fiscal 2nd quarter results.

[Read More] 2 Marijuana Stocks To Watch For Better Trading In May

Fiscal Second Quarter Highlights

  • For the quarter ended April 1, 2023, company-wide sales decreased 9 percent to $1.53 billion.
  • U.S. Consumer segment sales decreased 2 percent to $1.36 billion, from a record $1.38 billion last year.
  • Hawthorne segment sales decreased 54 percent to $93 million, compared with $203 million during the same period a year ago, reflecting the continued challenges in the hydroponic industry.
  • GAAP and non-GAAP adjusted gross margin rates for the quarter were 26.9 percent and 34.7 percent, respectively.

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