The Best Canadian Marijuana Stocks In The Market
Marijuana stocks have had an interesting 2023, to say the least. Some feel that this year was one of growth and social acceptance of the plant. For instance, more states have legalized cannabis and this has led to an increase in all-around cannabis use. Although not everyone may not be comfortable with cannabis there has been a tremendous social shit.
Even though cannabis is becoming more trendy federal regulators have not lifted any federal bans on the plant. Currently, there is an ongoing fight to establish federal reform which legislators are working on. The interest to find top marijuana stocks to buy has been on the rise with the progress of legal cannabis. At the moment the investing strategy has been one set for the future, especially with how volatile the sector can be. At times cannabis stocks will catch a wave of momentum that has turned into better trading. Now most of the recoveries that take place are still short-lived.
Yet the long game for investors seems to be what the focus is. Beyond the USA other global regions like Canada and Europe are also seeing success with their legal market. When people can see that an industry is thriving and shows opportunity it makes finding ways to invest more attractive. As more cannabis companies begin to report 2023 earnings shareholders may see some pot stocks trade better this week. Below are some marijuana stocks to watch for better trading the rest of the week.
Top Marijuana Stocks For This Weeks List
Tilray Brands, Inc.
Tilray Brands, Inc. engages in the research, cultivation, processing, and distribution of medical cannabis products in Canada, the United States, Europe, Australia, New Zealand, Latin America, and internationally. The company operates through four segments: Cannabis Business, Distribution Business, Beverage Alcohol Business, and Wellness Business. In recent news, the company announced an agreement to acquire eight beer and beverage brands.
These beer brands would be purchased from Anheuser-Bush. This venture would fuel Tilray’s future in the U.S. craft beer industry. Tilray will acquire Shock Top, Breckenridge Brewery, Blue Point Brewing Company, and 10 Barrel Brewing Company. As well as Redhook Brewery, Widmer Brothers Brewing, Square Mile Cider Company, and HiBall Energy.
The transaction includes current employees, breweries, and brewpubs associated with these brands. The purchase price will be paid in all cash and the transaction is expected to close in 2023.
Aurora Cannabis Inc.
Aurora Cannabis Inc. together with its subsidiaries, produces, distributes, and sells cannabis and cannabis-derivative products in Canada and internationally.
It operates through three segments: Canadian Cannabis, European Cannabis, and Plant Propagation. Recently the company announced its fiscal 2024 first-quarter results.
Highlights And Key Mentions
- Achieves Quarterly Net Revenue1 of $75.1 Million; Strong YoY Growth Across All
- Business Units; Global Medical Cannabis +14%, Consumer Cannabis +5%, Plant Propagation +12%
- Delivers Third Sequential Quarter of Positive Adjusted EBITDA1, Supported by
- Bevo’s Record Quarterly Revenue
- Cash Used in Operating Activities Reduced by $15.5 Million YoY, Re-Affirms
- Target of Positive Free Cash Flow in Calendar Year 2024
SNDL Inc. engages in the production, distribution, and sale of cannabis products in Canada. The company operates through four segments: Liquor Retail, Cannabis Retail, Cannabis Operations, and Investments.
The company announced it will report its second quarter 2023 earnings on August 14th. Following the release of its second-quarter financial results, SNDL will host a conference call and webcast at 10:30 a.m. EDT (8:30 a.m. MDT) on August 14, 2023.
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