Top Marijuana Stocks To Invest In This Upcoming Week?
Those interested in investing in marijuana stocks may be in luck in the near future. To be specific much of the sector has been on the downside of the volatile action. Yet with a continued effort to see federal reform be made law, there has been a recent increase in momentum. The SAFE Banking Act has recently been reintroduced and the market has been reacting well to this news. Historically when news on federal reform is released when it’s positive the sector reacts well.
Yet often times when there is a rise in trading inside of the cannabis sector it does not last long. But still even with a quick rise and drop it holds a few advantages. The first is when there is a recovery if you catch it in time you can take profits. However, if you miss the bounce you can possibly find top marijuana stocks to buy before the next recovery.
With the sector being so unpredictable you want to put yourself in the best position. This comes from thorough due diligence a good strategy and the ability to adapt to market changes. With cannabis still young and developing it’s possible to see more investment opportunities in the near future. Especially with no federal reform set in place. The companies mentioned below are several marijuana stocks to watch that face a good chance of seeing better trading this month.
Marijuana Stocks To Watch In 2023
- Green Thumb Industries Inc. (OTC:GTBIF)
- Trulieve Cannabis Corp. (OTC:TCNNF)
- Curaleaf Holdings, Inc. (OTC:CURLF)
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. In recent news, the company reported its Q1 2023 results.
Highlights for the first quarter ended March 31, 2023:
- Revenue increased 2% year-over-year to $249 million.
- GAAP net income of $9 million or $0.04 per basic and diluted share.
- Adjusted EBITDA was $76 million or 31% of revenue.
- Cash flow from operations of $75 million in the first quarter.
- Cash at quarter end totaled $185 million.
Words From The Company
“Green Thumb’s momentum continues to build in 2023, and I am incredibly proud of our team for their unwavering commitment to creating high-quality products and delivering positive experiences for our patients and consumers. In the first quarter, our revenue increased 2% year-over-year to $249 million, despite continued price compression. said Green Thumb Founder, Chairman, and Chief Executive Officer Ben Kovler.
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Trulieve Cannabis Corp.
Trulieve Cannabis Corp., together with its subsidiaries, operates as a medical cannabis company. The company cultivates and produces products in-house and distributes its products to Trulieve branded stores (dispensaries) in Florida, as well as through home delivery. Recently the company released dates for upcoming conferences it will be participating in.
Wolfe Research Virtual May Consumer Conference, May 12, 2023: President Steve White will participate in investor meetings.
Canaccord Genuity 7th Annual Global Cannabis Conference, May 18, 2023: Founder and CEO Kim Rivers will participate in a fireside chat and investor meetings.
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Curaleaf Holdings, Inc.
Curaleaf Holdings, Inc. operates as a cannabis operator in the United States. It operates through Domestic Operations and International Operations segments. The company engages in the cultivation, production, and sale of cannabis products through retail and wholesale channels. On May 5th the company released news stating it will report its Q1 2023 earnings operational results.
So Curalead will report its financial and operating results for the first quarter that ended March 31, 2023, after market close on May 17, 2023. Management will host a conference call and audio webcast that afternoon at 5:00 p.m. ET consisting of prepared remarks followed by a question and answer session related to the Company’s operational and financial highlights.
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