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3 Marijuana Stocks For Better Market Action This Week

These Top Marijuana Stocks Could Have A Breakout Week?

Here Are 3 Top Marijuana Stocks That Could Make A Difference In The Sector

Marijuana stock investors are keeping hopes high after a good week of trading. This past week there has been positive news surrounding cannabis reform. There were talks on cannabis banking and how to accomplish this task. As well California also passed a bill in the Senate regarding cannabis cafes. Oftentimes times when news comes out about new bills and laws that are in favor of cannabis it creates an upward push in trading.

What is being talked about now is how the future of the cannabis industry will be. There is more than half of the US and various global regions that have already legalized marijuana. Just this alone has many looking to invest and searching for the top marijuana stocks to buy. The name of the game is preparation for most cannabis investors. They feel the future will be better and lead to seeing a more consistent rise in trading. Nevertheless, if you are looking to explore new investment opportunities cannabis stocks could be it.

Now the cannabis sector does have a fair amount of unpredictable trading. Even when companies are doing well as a business which in another sector can help with a company’s stock moment. But with a good trading plan and lots of due diligence you could see the gains you want. Just remember to be patient and keep an eye on the sector for any sudden changes. Below are several cannabis stocks to watch for future trading.

Marijuana Stocks For Your 2023 Trading List

  1. Jushi Holdings Inc. (OTC: JUSHF)
  2. Greenlane Holdings, Inc. (NASDAQ:GNLN)
  3. TerrAscend Corp. (OTC:TSNDF)

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.

On August 22nd the company opened its 6th Beyond Hello dispensary in Woodbridge Virginia. Also in recent updates, the company reported its Q2 2023 results on August 11th

Q2 2023 Highlights And Key Mentions

  • Total revenue of $66.4 million
  • Gross profit margin was 46.0%, compared to 36.7% in the second quarter ended June 30, 2022 (“Q2 2022”) and 42.9% in the first quarter ended March 31, 2023 (“Q1 2023”)
  • Net Loss of $14.0 million, compared to net income of $12.1 million in Q2 2022 and net loss of $12.4 million in Q1 2023
  • Adjusted EBITDA1 of $12.6 million, an improvement of $12.1 million year-over-year and $5.0 million sequentially

Greenlane Holdings, Inc.

Greenlane Holdings, Inc. develops and distributes cannabis accessories, vape solutions, and lifestyle products in the United States, Canada, and Europe. It operates in two segments, Consumer Goods and Industrial Goods.

In recent news, the company had a conference call to discuss its Q2 2023 financial earnings. As well Greenlane also reported its Q2 fiscal 2023 results.

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 Q2 2023 Fiscal Earnings Highlights

  • Revenue for Q2 2023 decreased to $19.6 million, compared to $24.0 million in Q1 2023.
  • Operating expenses in Q2 2023 were reduced $0.9 million or 6.2% compared with Q1 2023.
  • Net loss attributed to Greenlane Holdings, Inc. for Q2 2023 was $10.5 million, compared to $10.2 million in Q1 2023.
  • Basic and diluted net loss of $6.56 per share compared to a loss of $6.40 per share for the prior quarter.
  • Adjusted EBITDA loss for Q2 2023 was $5.8 million compared to a loss of $6.8 million for Q1 2023.
  • The Company has launched 21 new products this year

TerrAscend Corp.

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. Recently the company reported its Q2 2023 earnings.

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Second Quarter 2023 Financial Highlights

  • Net Revenue was $72.1 million, an increase of 3.9% sequentially and 12.7% year-over-year.
  • Gross Profit Margin was 50.2%, compared to 48.8% in Q1 2023 and 37.5% in Q2 2022.
  • GAAP Net loss from continuing operations was $12.9 million, compared to $19.2 million in Q1 2023 and net income of $16.9 million in Q2 2022.
  • EBITDA from continuing operations was $6.5 million, compared to $6.1 million in Q1 2023 and $38.4 million in Q2 2022.
  • Adjusted EBITDA from continuing zoperations1 was $12.8 million, compared to $12.2 million in Q1 2023 and $8.8 million in Q2 2022.
  • Adjusted EBITDA Margin from continuing operations was 17.8%, compared to 17.6% in Q1 2023 and 13.8% in Q2 2022.
  • Net cash provided by (used in) operating activities – continuing operations was $1.8 million compared to $10.5 million in Q1 2023 and ($14.9) million in Q2 2022.

By J. Samuel

Joe Samuel or (J. Samuel) is the head staff writer at J. Samuels is a Rochester, NY native who now resides in sunny and medically legal Miami, FL. He has been with the since day 1 & is an irreplaceable part of the Marijuana Stocks team!

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