Top Marijuana Stocks To Buy During 2024?
What will happen to marijuana stocks in 2024? Some feel that it will be yet another year of volatile trading. For several years now there have been increased levels of volatility that have both helped and hurt cannabis stocks. Many were adjusting their trading styles to fit the means of the sector. More specifically when companies would report strong earnings urgent news it did not add much trading momentum.
However, the biggest market mover for the entire sector has been positive news of federal reform. Whether it was news on rescheduleing or cannabis banking if it was positive it led to better trading. Still, this has been the tough part as well when there is a recession ery the rise in trading is so short-lived it can be stressful trying to take profits in time. During 2024 will more companies release new products and take part in new projects.
The idea is that if more people can find value in the future of legal cannabis some may begin to find top marijuana stocks to buy. But for now, people are keeping positive attitudes as there is more to be done in the cannabis industry as a whole. The industry is still young and developing which will come with its pros and cons. Nevertheless with the revenue being made just in the USA alone it is almost safe to say legal cannabis is here to stay. Below are some cannabis stocks to watch that may be top picks in 2024.
Marijuana Stocks To Watch 2024
- Trulieve Cannabis Corp. (OTC:TCNNF)
- Green Thumb Industries Inc. (OTC:GTBIF)
- Cresco Labs Inc. (OTC:CRLBF)
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. In recent news, the company announced the opening of two new medical dispensaries in Crawfordville and Crestview, Florida.
Words From The Company
“We are excited to open these dispensaries, providing high-quality products and service for Florida patients in the Big Bend and Panhandle regions,” said Trulieve’s Chief Executive Officer Kim Rivers.”
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.
On December 13th the company announced it opened a RISE dispensary in Port Orange Florida. This makes for the Green Thumb Industries’ 90th retail location in the nation.
Words From GTBIF President
“We are thrilled to expand our presence on the east coast of Florida with the opening of RISE Port Orange,” said Green Thumb President Anthony Georgiadis. “This store marks our first RISE location in Volusia County and the seventh new store we have opened in the Sunshine State this year. We look forward to welcoming more patients to the RISE experience and making a positive impact in the local community.”
Cresco Labs Inc.
Cresco Labs Inc. together with its subsidiaries, cultivates, manufactures, and sells retail and medical cannabis products in the United States. On November 15th the company reported their Q3 2023 financial results.
Q3 2023 Highlights
- Third quarter revenue of $191 million, with retail growth and strong performance in core markets helping to offset purposeful attrition from divested assets.
- In comparison to Q1, when the Company initiated the Year-of-the-Core strategy, adjusted gross margin1 increased by over 480 bps, adjusted SG&A1 decreased by
$40 million on an annualized basis and adjusted EBITDA margin1 rose by over 1000 bps.
- Generated $62 million in operating cash flow through the first nine months of the year.
- Gross profit of $94 million, 49% of revenue.
- Adjusted gross profit1 of $96 million and adjusted gross margin1 of 51%, up 373 bps from the second quarter.
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