These Top Marijuana Stocks Could Soon Begin To Rise
Marijuana stock investors are looking for any upside in this volatile time. Many of those who have been investing in cannabis stocks understand how tough it can be to see consistent momentum. For a long while, only news on federal reform was a big enough catalyst to see significant trading. However, that has not stopped the progress of the sector and other factors that have contributed towards better trading. Companies are starting to report 2024 earnings and some cannabis operators are showing strong financials.
Even if this does not lead to increased momentum it can be a reason for a company to be seen as marijuana stock to buy. Like any form of investing you want to try to get in before things begin to catch traction. That is always best if you can take action in time to invest from the start and wait to see possible big profits. Some marijuana stocks that are down and do not see sustainable trading may see a turnaround in the near future.
A lot is going on in the cannabis industry and more action for traders could occur. Especially with federal reform and other regulatory concerns that could lead to better trading. Speculation is a major part of investing and if people feel that there is an upside in the future, they often will invest. Below are several marijuana stocks to watch today.
Top Marijuana Stocks To Watch Now In 2024
Planet 13 Holdings Inc.
Planet 13 Holdings Inc., together with its subsidiaries, cultivates and provides cannabis and cannabis-infused products for medical and retail cannabis markets in the United States. In recent news, the company has completed its acquisition of VidaCann.
Words From The Company
“We are thrilled to welcome the VidaCann team to the Planet 13 family,” said Bob Groesbeck, Co-CEO of Planet 13. “This acquisition marks an important moment for our Company, as we leverage VidaCann’s established footprint and reputation, adding 26 stores to our portfolio to enhance our retail offering in Florida.
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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. Recently the company reported its Q1 2024 financial results. 
First Quarter 2024 Highlights
- First quarter revenue of $184 million, flat year-over-year, excluding the impact from strategic divestitures aimed to drive profitability.
- Gross profit of $92 million. Adjusted gross profit1 of $95 million up 7% year-over-year; and an Adjusted gross margin1 of 51% of revenue, a 580 bps improvement.
- SG&A of $54 million. Reduced Adjusted SG&A1 by 24% year-over-year to $52 million, or 28% of revenue.
- First quarter income before income taxes of $16 million, net loss of $2 million.
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Cansortium Inc.
Cansortium Inc., through its subsidiaries, produces and sells medical cannabis in Florida, Pennsylvania, and Texas. In recent news, the company reported its Q4 and full-year 2023 results. 
Q4 2023 Financial Highlights
- Revenue increased 9% to $25.5 million compared to $23.4 million.
- Florida revenue increased 11% to $21.6 million compared to $19.4 million.
- Adjusted gross profit¹ was $12.6 million or 49.4% of revenue, compared to $0.7 million or 3.1% of revenue.
- Adjusted EBITDA was $6.9 million compared to $7.9 million, with the decrease primarily driven by higher SG&A spend due to additional stores.
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