Top Marijuana Stocks To Buy Before 2024
The cannabis industry is continuously growing and evolving. New products are being developed and companies are working hard to take the sector into the future. Cannabis was once a taboo subject to discuss or even use. As of 2018 legal cannabis has come a very long way. The United States has over 35 legal and operational cannabis businesses. Which has played a huge factor in more states voting to go legal.
Also, this has led to more people joining the green rush and finding ways to invest. Right now marijuana stocks are in a volatile position in the stock market. Much of this has been due to the lack of federal reform and other regulatory concerns. With no federal reform in place, investors and shareholders fear a sector-wide shutdown. Yet with how much progress and revenue is being generated it is not likely that a shutdown is going to take place.
Now is the time to prepare and search for the best marijuana stocks to buy. It is crucial that before investing you learn about the sector and the companies in them. The more info you have the better you will be prepared and the stronger odds of taking sizeable profits. The companies below are just several marijuana stocks to watch before the start of 2024.
Marijuana Stocks To Watch Today
- GrowGeneration Corp. (NASDAQ:GRWG)
- Greenlane Holdings, Inc. (NASDAQ:GNLN)
- Planet 13 Holdings Inc. (OTC:PLNH)
GrowGeneration Corp. through its subsidiaries, owns and operates retail hydroponic and organic gardening stores in the United States. In recent news, the company reported its Q3 2023 financial earnings.
Q3 2023 Highlights
- Net sales decreased 13% quarter-over-quarter to $55.7 million
- Comparable store sales decreased 14.4% to the prior year
- Gross profit margin of 29.1%, an increase of 320 basis points to the prior year
- Net loss of $7.3 million, compared to a net loss of $7.2 million in the prior year
- Adjusted EBITDA(1) loss of $0.9 million, an improvement of $1.8 million to 2022
Greenlane Holdings, Inc.
Greenlane Holdings, Inc. develops and distributes cannabis accessories, vape solutions, and lifestyle products in the United States, Canada, and Europe. It operates in two segments, Consumer Goods and Industrial Goods several weeks ago the company announced the launch of a new dry herb vaporizer from EYCE.
The PV1, the first vaporizer device from Eyce is engineered with a rotating mouthpiece, a glass-coated alumina ceramic heat chamber, and a stainless-steel airflow path. The PV1 delivers smooth vapor while offering the same portability and durability that the Eyce consumer knows and loves. Eyce takes classic smoking styles and elevates them with ultrafunctional designs.
Words From The Company
“We’re thrilled about the evolution and expansion of the Eyce brand, which aligns seamlessly with our foray into the vaporizer space, the largest and most prominent accessory category. What makes this more compelling is Greenlane’s possession of patented vape technology, a crucial factor positioning us for success in this venture,” said CEO Craig Snyder.
Planet 13 Holdings Inc.
Planet 13 Holdings Inc. an integrated cannabis company, engages in the cultivation, production, distribution, and marketing of cannabis and cannabis-infused products for medical and retail cannabis markets in Nevada, the United States. On November 17th the company provided an update regarding access to certain cash accounts.
Pursuant to a dispute unrelated to the Company, Casa Verde Capital, L.P. and Casa Verde Capital EF, L.P. obtained a US$35.0 million default judgment against El Capitan. Casa Verde then levied that judgment against El Capitan causing approximately US$5.5 million of the Company’s funds held at WAB and managed by El Capitan to be directed to the Orange County Sheriff’s Office on September 21, 2023.
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