Top Marijuana Stocks To Follow In The Stock Market
Marijuana stock investors are looking to see better trading this week. Over the last few months, there has been an ongoing decline for most of the sector. Now over the last 4 to 6 weeks, there has been some volatile pops for cannabis stocks. Back at the start of August news on a new federal reform bill led to seeing a slight recovery. Also, this month cannabis companies released their Q2 2023 financial results.
This did not lead to stronger trading. However, if you are looking for the best marijuana stocks to buy it was a plus to know that certain companies are doing well. With how low the sector has fallen knowing that a company is performing well brings more investor attention. The cannabis industry as a whole is still growing and progressing day by day. Yet with the increase in volatility investing in marijuana stocks has transitioned to a long-term game.
Many people are looking towards the future with the cannabis industry. Much of this is due to not having any federal reform set in place. Many people feel that once their federal reform is passed, it will ultimately bring in more momentum and restore investors’ confidence. Just make sure you create a plan and do your homework before investing. Below are 3 marijuana stocks to watch heading into September.
Canadian Marijuana Stocks To Watch 2023
- Tilray Brands, Inc. (NASDAQ:TLRY)
- Village Farms International, Inc. (NASDAQ:VFF)
- Cronos Group Inc. (NASDAQ:CRON)
Tilray Brands, Inc.
Tilray Brands, Inc. engages in the research, cultivation, processing, and distribution of medical cannabis products in Canada, the United States, Europe, Australia, New Zealand, Latin America, and internationally. In recent news, the company announced the debut of two new ready-to-drink carbonated beverages by its premium cannabis wellness brand, Solei.
Fresh into the market, the new Solei Mango Passionfruit and Dragonfruit Watermelon sparkling CBD drinks sold through their week one product allocations1 and are now available in Ontario, Quebec. Plus Alberta, with further plans for expansion in select regions, and cannabis retailers across Canada.
[Read More] The 3 Best Marijuana Stocks For You Today
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.
Recently the company announced the transition of Pure Sunfarms leadership. Orville Bovenschen, Chief Operating Officier, Pure Sunfarms appointed president. Now Mandesh Dosanjh will step down and will assume a transitional advisory role.
Words From The CEO
“Orville takes on leadership of Pure Sunfarms as we are executing our strategy to meet the evolving preferences of the cannabis market in pursuit of being the long-term, profitable market leader,” said Michael DeGiglio, CEO of Village Farms. “Orville has a strong track record of delivering operational efficiency and has led multiple initiatives that have improved quality and consistency across all Pure Sunfarms’ brands.”
Cronos Group Inc.
Cronos Group Inc. operates as a cannabinoid company. It manufactures, markets, and distributes hemp-derived supplements. As well as cosmetic products through e-commerce, retail, and hospitality partner channels under the Lord Jones brand in the United States. Recently the company reported its second quarter 2023 earnings.
Q2 2023 results
- Net revenue of $19.0 million in Q2 2023 decreased by $2.6 million from Q2 2022.
- Gross profit of $3.1 million in Q2 2023 decreased by $1.2 million from Q2 2022.
- Adjusted EBITDA of $(15.9) million in Q2 2023 improved by $0.7 million from Q2 2022.
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