These Marijuana Stocks Could Be Worth Owning Shares Of In 2023?
If you have been watching how marijuana stocks trade over the last month you have noticed the uptick in momentum. From mid-October to currently in November publicly traded cannabis companies have felt the impact of a positive catalyst. So there are the upcoming earnings soon to be released throughout November. Often times when one company can show strong financials it leads to better overall momentum for the sector. The reason is the speculation that if one cannabis company does well others will follow.
Now, this is not always the case as sometimes good earings are just that a good report. As well there have been talks about how Congress could be even closer to solving the federal reform issues for the cannabis industry. All of the above has created an optimistic view about the future of the sector. So much so that it has been what analyst feel have been the cause of this better trading. However, at this time volatility has made its presence known with early and mid-day pullbacks for marijuana stocks.
Even still this has its pros and cons as it is never good to see your position lose value. As well a pullback in the sector allows people to find marijuana stocks to buy at good entry points. With no federal regulations in place, some investors feel marijuana stocks are a buy-and-hold game. Along with others who have taken profits at every decline and recovery. Especially when a recovery does happen in the sector but it does not hold its upward level long enough for all to take profits. By keeping a watchful eye for any changes and being prepared you may have better odds of seeing a sizable return.
Marijuana Stocks For Your 2023 Watchlist
- GrowGeneration Corp. (NASDAQ:GRWG)
- Greenlane Holdings, Inc. (NASDAQ:GNLN)
GrowGeneration Corp.
GrowGeneration Corp. through its subsidiaries owns and operates retail hydroponic and organic gardening stores in the United States. In recent news, the company announced it will release its Q3 2022 earnings as well as a conference call. The announcement will be followed by a live earnings conference call at 5:00 p.m. EDT.
As well back in September, the company opened a new hydroponic garden center in Richmond, Virginia. The new store in Richmond becomes the first in the state and was officially opened on September 26, 2022. Newly Signed Leases in Mount Holly, New Jersey, and Hazelwood, Missouri will Expand Current Operations to 17 States in late 2022.
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Greenlane Holdings, Inc.
Greenlane Holdings, Inc. Inc. develops and distributes cannabis accessories, child-resistant packaging, vape solutions, and lifestyle products in the United States, Canada, and Europe. At the start of November, the company announced the closing of a $7.5 million public offering.
The company closed its previously announced “reasonable best efforts” public offering of 8,333,335 units at a public offering price of $0.90 per unit. The units issued consist of one share of Class A common stock and two common warrants each exercisable for one share of Class A common stock at an exercise price of $0.90 per share.
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The common warrants are immediately exercisable and expire seven years from the date of issuance.
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