Top Marijuana Stocks To Watch 3 For This Week
Marijuana stocks have been gaining popularity over the past few years as more and more states have legalized the use of marijuana. This has led to a surge in demand for marijuana products, which has resulted in a growing number of marijuana-related businesses.
Finding top marijuana stocks to buy has the potential to be a lucrative opportunity for investors. Especially those looking to diversify their portfolios. There are several types of marijuana stocks that investors can consider, including growers, producers, and distributors. Each type of stock has its own unique risks and rewards.
One of the biggest risks associated with investing in marijuana stocks is the legal uncertainty surrounding the industry. While cannabis is legal in some states, it is still illegal at the federal level. This has led to issues with banking and financing, as well as legal challenges for marijuana-related businesses in the United States.
Despite these risks, many investors see marijuana stocks as a promising investment opportunity. Currently, the sector is facing a volatile pullback that has created a downtrend for most pot stocks. Still many feel the push for federal reform will potentially change this among other catalysts. The industry is expected to continue growing as more states legalize marijuana. Also, there is a growing demand for cannabis products both domestically and internationally.
Investors who are considering investing in cannabis stocks should do their research and carefully consider the risks and rewards associated with each stock. It is also important to keep in mind that the industry is still relatively new and there is a lot of uncertainty surrounding it. As with any investment, it is important to have a long-term perspective and plan of action before entering the stock market.
3 Top Marijuana Stocks To Watch 2023
- Green Thumb Industries Inc. (OTC:GTBIF)
- Glass House Brands Inc. (OTC:GLASF)
- Cresco Labs Inc. (OTC:CRLBF)
Green Thumb Industries Inc.
Green Thumb Industries Inc. is headquartered in Chicago, Illinois, and produces and sells medicinal and recreational cannabis through wholesale and retail channels in the United States. It has a presence in 15 states and operates roughly 75 cannabis stores under the chains Rise and Essence.
Back on June 15th the company announced the opening of RISE dispensary in Philadelphia. This makes for Green Thumbs’ 82nd retail location in the nation. The new dispensary will hold a grand opening event on July 8th, where profits from the day will be donated to Philadelphia Lawyers for Social Equity (PLSE).
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Glass House Brands Inc.
Glass House Brands Inc. through its subsidiaries, cultivates, manufactures, and distributes cannabis bulk flowers and trims to wholesalers in California.
It also provides raw cannabis, cannabis oil, and cannabis consumer goods to third-party retail stores; and owns and operates retail cannabis stores. Back in May, the company reported its first quarter 2023 financial results.
Q1 2023 Highlights
- Net Sales of $29.0 million increased 108% from $14.0 million in Q1 2022 and down 10% sequentially from $32.2 million in Q4 2022.
- Gross Profit was $12.0 million compared to $2.3 million in Q1 2022 and $10.2 million in Q4 2022.
- Gross Margin was 41%, compared to 17% in Q1 2022 and gross margin of 32% in Q4 2022.
- Adjusted EBITDA2 was $(0.1) million, compared to $(6.4) million in Q1 2022 and $(2.6) million in Q4 2022.
- Cost per Equivalent Dry Pound of Production3,4 was $196 a decrease of 18% compared to the same period last year and up 54% sequentially versus Q4 2022, which was expected due to seasonality.
- Equivalent Dry Pound Production3 was 48,099 pounds, up 188% year-over-year and down 36% sequentially, which was expected due to seasonality.
- Cash balance was $16.4 million at quarter-end, up 16% from Q4 2022 quarter end.
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Cresco Labs Inc.
Cresco Labs Inc. together with its subsidiaries, cultivates, manufactures, and sells retail and medical cannabis products in the United States. On June 15th the company announced the opening of Sunnyside Destin and St. Petersburg Florida stores. This has expanded its nationwide retail footprint to 66 locations.
Words From The Company
“We continue to invest wisely in significant growth states like Florida which has a continuously growing medical market of over 825,000 qualified patients and the possibility of a 2024 adult-use ballot initiative,” said Charlie Bachtell, Cresco Labs’ CEO & Co-Founder.”
MAPH Enterprises, LLC | (305) 414-0128 | 1501 Venera Ave, Coral Gables, FL 33146 | firstname.lastname@example.org