Top Marijuana Stocks In The Cannabis Sector 2023
Those looking for the best marijuana stocks to buy could be in luck. The level of volatile trading occurring in the market has led to a consistent decline in trading. Now most think when there is a drop in trading that it’s always a negative. However, this is not the case in certain circumstances. No matter the sector when there is a drop in the trading this is often times seen as a buying opportunity. Right now many see cannabis as the investment of the future.
At one point in time, marijuana stocks used to turn quick profits. Yet there is more emphasis on what will take place in the future. The cannabis industry as a whole is still growing with much more the be done. At the moment there is a big push to establish better rules and regulations. If and when federal reform becomes law in the US there could be a big recovery for the investors and shareholders.
You want to make sure you do your research on the sector and the various cannabis companies. The more due diligence you do the better odds at investing in the better cannabis stocks. Below are several marijuana stocks to watch this week for better trading.
Top Marijuana Stocks To Watch Today
- Green Thumb Industries Inc. (OTC:GTBIF)
- Cresco Labs Inc. (OTC:CRLBF)
- Curaleaf Holdings, Inc. (OTC:CURLF)
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.
In recent news on August 15th opened a RISE dispensary in Fruitland Park FL. This makes for the company’s 85th retail location in the nation which was open officially on August 16th.
Words From The President Of GTBIF
“We are excited to open our 8th medical dispensary in the Sunshine State, and introduce our high-quality, premium cannabis products to patients in the Fruitland Park and Lake County community,” said Green Thumb President Anthony Georgiadis.
Cresco Labs Inc.
Cresco Labs Inc. together with its subsidiaries, cultivates, manufactures, and sells retail and medical cannabis products in the United States. Recently the company reported its second quarter 2023 results.
Q2 2023 Highlights And Key Mentions
- Second quarter revenue of $198 million, up 2% sequentially, driven by retail growth of 4% and flat wholesale revenue.
- Gross profit of $87 million, 44% of revenue.
- Adjusted gross profit of $93 million and Adjusted gross margin of 47%, up 100 bps from the first quarter.
- Adjusted SG&A1 reduction of $7 million sequentially.
- Adjusted EBITDA1 of $40 million, up 38% sequentially as margin improved 540 bps to 20%.
- Generated positive operating cash flow of $18 million, inclusive of $14 million of one-time cash charges related to facility closures, severance payments, and M&A-related fees.
- Second quarter net loss of $43 million, which includes $22 million of impairment charges.
[Read More] Top Marijuana Stocks For September Investing
Curaleaf Holdings, Inc.
Curaleaf Holdings, Inc. operates a cannabis operator in the United States. It operates through Domestic Operations and International Operations segments. The company engages in the cultivation, production, and sale of cannabis products through retail and wholesale channels.
In recent news, the company celebrated the launch of adult-use sales at the Manchester CT dispensary. Curaleaf Manchester is the Company’s fourth dispensary in Connecticut to commence adult-use sales.
Words From The Company
“Curaleaf is proud to welcome adult-use consumers at each of our locations in Stamford, Hartford, Groton, and now, Manchester,” said Matt Darin, CEO of Curaleaf. “Connecticut has developed a robust adult use marketplace that continues to innovate and contribute to the larger adult use marketplace across the country.”
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