3 Marijuana Stocks For Your 2023 Watchlist This Week
Marijuana stocks are trying to sustain some of the momentum it has gained to start the year. Now there are several factors to consider that can either help or hurt the way marijuana stocks perform. To start there is much to be done for the cannabis industry. So watching companies execute on ventures that could help the sector and its business is one variable to watch for. The better a company does out of the market the better the chances of seeing that transcend into the market.
Following the progress of cannabis companies, there is also the continued fight for federal reform. Between cannabis banking and ending prohibtion alltogether, this stands to be the biggest catalyst for marijuana stocks. As history has shown positive news on the matter has resulted in better trading. Next, we have the possible passing of new states and regions across the globe that will vote to legalize cannabis.
With the expansion of the industry overall brings in more value and investment opportunities. So if you are looking for marijuana stocks to buy in 2023 there is still time. Also, positive speculation can as well lead to seeing more profitable trading off of the idea that something good will take place. So if you are looking for marijuana stocks to watch the companies below may be for you
Top Marijuana Stocks To Watch 2023
- Ascend Wellness Holdings, Inc. (OTC:AAWH)
- Columbia Care Inc. (OTC:CCHWF)
- Cansortium Inc. (OTC:CNTMF)
Ascend Wellness Holdings, Inc.
Ascend Wellness Holdings, Inc. engages in the cultivation, manufacture, and distribution of cannabis consumer packaged goods. Its cannabis product categories include flowers, pre-rolls, concentrates, vapes, edibles, and other cannabis-related products. As of December 31, 2021, the company operated 20 retail locations. It also sells its products to third-party licensed cannabis retail stores.
In recent news, the company announced its expansion with an agreement to acquire four Maryland dispensaries. The Agreement will expand AWH’s operations into a seventh state as the company continues to build its footprint in limited license states across the Midwest and East Coast.
Words From The Company
“Maryland is an ideal state to expand our footprint – home to more than six million people, a mature medical cannabis program, and voter-approved support to create an adult-use cannabis market,” said Abner Kurtin, Executive Chairman and Founder of AWH. “This Agreement reflects our strategy of entering limited-license, late-stage medical markets with an anticipated adult-use cannabis market launch.”
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Columbia Care Inc.
Columbia Care Inc. cultivates, manufactures, and provides cannabis products and related services. It offers flowers, edibles, oils, and tablets under the Seed & Strain, Triple Seven, gLeaf, Classix, Press, Amber, and Platinum Label CBD brands. The company holds licenses in 18 jurisdictions in the United States and the European Union. Back on January 19th, the company implemented efficiency initiatives to enhance profitability.
With this, the company closed four unprofitable dispensaries in California (1) and Colorado (3). As well as consolidating cultivation operations in California, Colorado, and Pennsylvania to improve their Adjusted EBITDA contribution. In addition, the Company has decreased its corporate headcount by approximately 25%. As a result, the Company expects to show a sustained improvement in its long-term expense ratio as well as a decrease in its cash burn.
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Cansortium Inc. through its subsidiaries produces and sells medical cannabis in the United States. The company’s medical cannabis products are offered in oral drops, capsules, topicals, syringes, dried flower, pre-rolls, cartridges, and edibles under the Fluent brand name.
During the 3rd week of January, the company opened its 29th medical cannabis dispensary in Pensacola Florida. With this store, it makes for Cansortium
32nd retail location nationwide, along with plans to open three additional store locations in Florida in the first half of 2023.
Words From The Director Of Sales
“Our new Pensacola store, located on a major thoroughfare in the city, not only broadens patients’ access to high-quality flower and medical cannabis products but also delivers a first-class retail experience to customers and expands the number of Floridians we employ to more than 540,” said Fluent Cannabis Care Director of Sales Victor Bindi.
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