Top Marijuana Stocks For People In The Cannabis Sector
Marijuana stocks could soon see a recovery in the sector. With the start of the new year comes the chance for marijuana stocks to reach better trading levels. Especially with the ongoing fight to establish federal reform. Whenever news on the subject is released it often leads to upward trading if it’s positive news. For example, when news was released that cannabis banking legislation was getting revamped it created a rise in the sector.
In fact, several days ago marijuana stocks began to rise due to news that Joe Biden is giving pardons to people sent to jail for cannabis crimes. Currently with no federal reform in place at some point in 2024 we will see another chance to vote for federal reform. Once this does occur the odds of seeing the sector rise in trading becomes high. What many have been doing this past year is using the volatile trading to their advantage.
More specifically the cannabis sector is high in volatility and that can lead to downward trading. Which it has and from this, many begin to look for the best marijuana stocks to buy. The strategy for most is to buy the dips and hold till they are able to make a profit. Nevertheless, a new year has begun and it brings new variables with it that the cannabis sector will need to overcome. That is why as an investor it is best to set up a strategy and watch the sector with a close eye. The companies below are some cannabis stocks to watch for the rest of January
Marijuana Stocks For Your 2024 Watchlist
- Aurora Cannabis Inc. (NASDAQ:ACB)
- Cronos Group Inc. (NASDAQ:CRON)
- Organigram Holdings Inc. (NASDAQ:OGI)
Aurora Cannabis Inc.
It operates through three segments: Canadian Cannabis, European Cannabis, and Plant Propagation. On November 9th the company reported its 2024 Q2 fiscal earnings. With this company delivered a record positive Adjusted EBITDA.
Second Quarter 2024 Highlights
- Delivers Record Positive Adjusted EBITDA1 of $3.4 Million
- Quarterly Net Revenue1 rose 30% YoY to $63.4 Million; Strong Growth of 42% in Global Medical Cannabis
- Net cash position of over $200 Million, Expects to Repay the Remaining US$5.3
- Million Balance of Convertible Senior Notes in February 2024
- Re-Affirms Target of Achieving Positive Free Cash Flow1 in Calendar Year 2024
[Read More] Best Ancillary Cannabis Stocks in 2024
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, retail, and hospitality partner channels under the Lord Jones brand in the United States.
Back on December 15th, the company announced the launch of its highly anticipated Lord Jones® Live Resin Vapes in two different hardware options. Crafted with the discerning cannabis consumer in mind, these products embody a commitment to excellence, offering an unmatched combination of curated strains, pure live resin, and elegant high-quality hardware.
Words From The Company
“We’re excited to introduce the latest addition to the evolving Lord Jones® lineup with premium live resin vapes. The Lord Jones® brand epitomizes excellence, and we take pride in bringing exceptional products to market that showcase our commitment to craftsmanship and innovation,” said Mike Gorenstein, President, Chairman, and Chief Executive Officer, of Cronosa.”
Organigram Holdings Inc.
On December 29th the company announced that it had mailed and filed a management information circular and related materials for its annual and special meeting. A meeting that will consist of Organigrams of the holders of its common shares to be held on January 18, 2024.
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