Top Marijuana Stocks For Investors In 2023
Cannabis investing is not a concept that is hard to grasp if you are willing to learn. Like other sectors, marijuana stocks behave in an unpredictable manner. Nonetheless in a growing industry, people begin to show interest in how to get involved. With the cannabis industry showing continuous growth and progress and still young and developing there are areas of opportunity. With how volatile the sector can get some may not understand how to use this in their favor. For example, oftentimes volatility leads to a pullback in trading.
Once there is a decline this does not mean that all is lost and fear should set in. What should happen is those looking to invest should begin to find the best marijuana stocks to buy. If you can capitalize on a downtrend it puts you in a position to take profits when the time is right.
Meaning when you have shares of a company at a good entry point when the sector begins to recover most cannabis stocks will start to trade up. Now, this could only be for a short moment so you have to be ready to take action. Some feel that once federal reform is made law more upward consistency will take place. However, for now, that is not the case but with proper due diligence and a watchful eye, there are chances to make money. Below are several marijuana stocks to watch in 2023.
Top Marijuana Stocks To Watch 2023
- Neptune Wellness Solutions Inc. (NASDAQ:NEPT)
- HEXO Corp. (NASDAQ:HEXO)
- Cronos Group Inc. (NASDAQ:CRON)
Neptune Wellness Solutions Inc.
Neptune Wellness Solutions Inc. operates as a diversified and fully integrated health and wellness company. In recent news, the company reported its fiscal Q3 results.
Q3 2023 Financial Highlights
- Consolidated net sales for Q3 totaled $12.2 million, down $2.5 million from the prior year Lost cannabis sales versus the prior year amounted to $3.5 million.
- Gross profit in Q3 was $1.9 million, a gross margin of 15.4% of net sales, up from 11.3% for the same period last year.
- SG&A expenses for the quarter totaled $8.7 million compared to $18.4 million for the same period last year.
- Net loss of $497 thousand dollars for the third quarter compares to a net loss of $16.8 million in the prior year.
- Adjusted EBITDA loss for the quarter totaled $5.1 million compared to a $14.2 million loss for the same quarter last year.
HEXO Corp.
HEXO Corp. together with its subsidiaries, produces, markets, and sells cannabis in Canada. The company offers its adult-use and medical products under the HEXO brand name. 
On March 24th the company was ranked on The Globe and Mail’s fourth annual women lead here benchmark of Executive Gender Diversity. This annual editorial benchmark identifies top-notch Canadian businesses with the highest executive gender diversity.
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Words From The Company
“We are honored that The Globe and Mail has recognized our continued efforts towards gender diversity and parity,” says Mona Matta, Vice-President, of People and Culture of HEXO.
Cronos Group Inc.
Cronos Group Inc. operates as a cannabinoid company. It manufactures, markets, and distributes hemp-derived supplements and cosmetic products through e-commerce, and retail. 
Plus hospitality partner channels under the Lord Jones and Happy Dance brands in the United States. During th4 first week of March, the company released its 2022 Q4 and full-year results.
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Fourth Quarter 2022
- Net revenue of $22.9 million in Q4 2022 decreased by $2.9 million from Q4 2021.
- Gross profit of $(0.2) million in Q4 2022 declined by $2.2 million from Q4 2021.
- Adjusted EBITDA of $(21.2) million in Q4 2022 improved by $6.1 million from Q4 2021.
Full-Year 2022
- Net revenue of $91.9 million in Full-Year 2022 increased by $17.5 million from Full-Year 2021.
- Gross profit of $12.0 million in Full-Year 2022 improved by $29.5 million from Full-Year 2021.
- Adjusted EBITDA of $(80.6) million in Full-Year 2022 improved by $79.9 million from Full-Year 2021.
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