Best Cannabis Stocks December 2023

Ready To Invest? Here Are Top Marijuana Stocks For You

This upcoming year could be a turnaround for marijuana stocks. The cannabis industry as a whole saw a great deal of growth and innovation in 2023. During 2023 we saw more companies come together to establish strategic partnerships. We also saw companies commence buyouts and mergers. All of which just helps the cannabis industry develop even more. Right now each legal state in the US has been generating over a billion in revenue.

What this does is help to show politicians that cannabis can be just as successful and profitable as any other legitimate industry. Now one would think with all this progress it would transition into the publicly traded side of the business. Well as most marijuana stock investors know this has not been the case. But with how volatile the sector has been finding top marijuana stocks to buy has been easier. The reason it becomes easier is due to how volatile declines impact the price of cannabis stock.

Nonetheless, the upside is investing in the future of the sector. The more recent approach toward investing in marijuana stocks is long-term. For example, with a continued effort to pass federal reform, people feel this will create better upward consistency. So many are using a buy-and-hold strategy as most shareholders await to see what 2024 will bring. Yet if you can take profits along the way there is never a bad time to do so you can. Below are several marijuana stocks to watch this week.

Top Marijuana Stocks Today

  1. Trulieve Cannabis Corp. (OTC:TCNNF)
  2. Greenlane Holdings, Inc. (NASDAQ:GNLN)
  3. GrowGeneration Corp. (NASDAQ:GRWG)

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. marijuana stocks to watch trulieve (TRUL) (TCNNF)

In recent news, the company announced the completion of redemption of all US$130 million 9.75% senior secured noted due 2024. The Notes will cease to trade on the Canadian Securities Exchange under the symbol “TRUL.DB.U” as of the close of trading on December 1, 2023, and will be delisted as of December 1, 2023. Additional information regarding the redemption of the Notes is available from Odyssey Trust Co.

[Read More] Top Canadian Cannabis Stocks to Follow Next Week

Greenlane Holdings, Inc.

Greenlane Holdings, Inc. develops and distributes cannabis accessories, vape solutions, and lifestyle products in the United States, Canada, and Europe. On November 27th the company announced the receipt of Nasdaq listing deficiency notice. The company is not currently in compliance with Nasdaq’s Listing Rules. This is due to Greenlane’s inability to timely file its Quarterly Report on Form 10-Q. GNLN

The Notice does not immediately affect the listing or trading of the Company’s securities. According to Listing Rule 5250(c)(1), the Company was required to file the Form 10-Q by November 14, 2023. The Company previously reported its inability to file Form 10-Q by the Due Date on Form 12b-25, which the Company filed with the SEC on November 15, 2023. Currently, the Company is working diligently to complete the Form 10-Q and anticipates filing the Form 10-Q as soon as possible.

[Read More] These Top Marijuana Stocks Could See A Recovery In 2024

GrowGeneration Corp.

GrowGeneration Corp. through its subsidiaries, owns and operates retail hydroponic and organic gardening stores in the United States. On November 8th the company reported its Q3 2023 financial earnings. GRWG

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

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