Marijuana Stocks To Add To Your 2023 Portofino This Month
Investors are always looking for ways to make money. The cannabis industry could be a way to do just that. Marijuana stocks have seen their fair share of ups and downs and market obstacles. Yet with eyes set on the future finding top marijuana stocks to buy is what investors are looking for. But how do people know when it’s a good time to buy and which cannabis stocks to invest in?
When it comes to knowing when to take up a position is based on how low the stock has dropped. Any time there is a decline in trading that is when you would ideally want to buy. Now knowing which are the better companies to invest in can be a challenge. Just becuase a company is showing a good entry point does not mean it’s the best investment. You want to learn about each company and see how they are performing out of the market.
For example, you would research if the company is profitable as a business. As well as other ventures the company may be partaking in. This can range from new products all the way to strategic partnerships. When you can see that the company is strong and moving in the right direction it gives more confidence to invest. With this above info, you should have a good starting point for learning which marijuana stocks to add to your portfolio. The companies below are some cannabis stocks to watch if you are interested in cannabis investing.
Top Marijuana Stocks To Watch Today 2023
GrowGeneration Corp. through its subsidiaries, owns and operates retail hydroponic and organic gardening stores in the United States. On August 8th the company reported its Q2 2023 financial earnings.
Second Quarter 2023 Highlights
- Net sales increased 12% quarter-over-quarter to $63.9 million
- Comparable store sales decreased 15.1% to the prior year
- Gross profit margin of 26.8%, decrease of 1.7% to the prior year
- Net loss of $5.7 million and Adjusted EBITDA(1) gain of $0.9 million
- Year-to-date cash flow provided by operations of $7.4 million
- Cash, cash equivalents, and marketable securities of $70.6 million
- Changing full-year 2023 guidance for revenue to be $220 million to $225 million and Adjusted EBITDA(1) to be a loss of $4 million to $6 million
Agrify Corporation develops precision hardware and software cultivation and extraction solutions for the cannabis and hemp industry in the United States. In recent news, the company has received notification of noncompliance with listing rule 5250(c)(1). As a result of not having timely filed its Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2023.
This notification has no immediate effect on the listing of Agrify’s common stock on the Nasdaq. However, if Agrify fails to regain compliance with the Nasdaq Listing Rule, Agrify’s common stock will be subject to delisting from Nasdaq. The Company is working diligently and expects to file its Form 10-Q within the prescribed period. Which would eliminate the need for the Company to submit a formal plan to regain compliance.
[Read More] 3 Marijuana Stocks For Your 2023 Watchlist
High Tide Inc.
High Tide Inc. engages in the cannabis retail business in Canada, Europe, the United States, and internationally. The company manufactures and distributes smoking accessories and cannabis lifestyle products. Back on August 24th, the company announced when it will release its third fiscal quarter 2023 financial results.
The company will release its financial and operational results for the third fiscal quarter after financial markets close on Thursday, September 14, 2023. Following the release of its third fiscal quarter 2023 financial and operational results, High Tide will host a webcast. This will be with Raj Grover, President and Chief Executive Officer, and Sergio Patino, Chief Financial Officer.
The purpose of the webcast is to discuss the Company’s financial results. In addition to its plans for the remainder of 2023, at 11:30 AM Eastern Time on Friday, September 15, 2023.
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