3 Marijuana Stocks You Should Learn About
Most marijuana stocks are still showing a decrease in the stock market today. Now, this drop in trading is more volatility than anything at some point a recovery will come. The reason for this is that there are several things to look forward to that could help marijuana stocks trade better. This upcoming week cannabis companies are preparing to report earnings. Historically when a company can show positive financials it has brought momentum to the sector. This is not always the case other catalysts have been more successful.
For example when news of federal reform is released and it’s positive often marijuana stocks will see a rise in trading. Yet when a recovery happens, the consistency in upward trading is not there. So this has been an issue for some traders as they are not able to get in and out of their positions fast enough. As well some even find that their position is too expensive when the stock falls below what they bought it for.
That is why we see people also buy the dips at every pullback so they can lower the cost of their position. Which also helps your odds of seeing better gains. All in all marijuana stocks are a sector that people should approach with caution and optimism. The companies below are a few marijuana stocks to watch right now in the stock market.
Top Marijuana Stocks For Your 2023 Watchlist
- Trulieve Cannabis Corp. (OTC:TCNNF)
- Curaleaf Holdings, Inc. (OTC:CURLF)
- Green Thumb Industries Inc. (OTC:GTBIF)
Trulieve Cannabis Corp.
Trulieve Cannabis Corp. together with its subsidiaries operates as a medical cannabis company. It cultivates and produces products in-house and distributes its products to Trulieve branded stores (dispensaries) in Florida, as well as through home delivery. In the last 3-4 weeks the company has made a few key updates. Back on October 14th, Trulieve announced the opening of a new medical marijuana dispensary in Land O’ Lakes in Florida.
In recent news, the company will hold a 2022 Q3 conference call on November 9th at 5:30 following the official release. Chairman, Founder, and Chief Executive Officer Kim Rivers, Chief Financial Officer Alex D’Amico, and President Steve White will participate on the call to review Trulieve’s financial and operating results.
Curaleaf Holdings, Inc.
Curaleaf Holdings, Inc. operates as a cannabis operator in the United States. It operates in two segments, Cannabis Operations, and Non-Cannabis Operations. The Cannabis Operations segment engages in the production and sale of cannabis through retail and wholesale channels.
On November 2nd the company announced the expansion of its New Jersey adult use sakes to Bordentown dispensary. Curaleaf Bordentown is the company’s third location in the Garden State to introduce adult-use sales.
[Read More] 3 Marijuana Stocks That Could See Big Momentum
Words From The Company
“We are thrilled to expand adult-use sales to Curaleaf Bordentown, which now allows us to serve both medical and adult-use customers across our entire New Jersey footprint,” said Matt Darin, CEO of Curaleaf.
Green Thumb Industries Inc.
Green Thumb Industries Inc. engages in the manufacture, distribution, and sale of various cannabis products for medical and adult use in the United States. During the first week of November, Green Thumb released its Q3 2022 earnings.
Q3 2022 Highlights
- Revenue increased 3% sequentially and 12% year-over-year to $261 million.
- Year-to-date 2022 revenue increased 17% to $758 million compared to the first nine months of 2021.
- Ninth consecutive quarter of positive GAAP net income, delivering $10 million or $0.04 per basic and diluted share.
- Adjusted Operating EBITDA grew 7% sequentially to $84 million or 32% of revenue.
- Cash flow from operations of $48 million net of income tax payments of $31 million for the quarter.
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