2 Top Marijuana Stocks For Wednesday Trading Day
Investing in marijuana stocks can be a high-risk, high-reward venture. As the cannabis industry is still relatively young and still lacking federal regulation there is heavy volatility. Much of this is due to the unknown of what will come of the legal markets in the United States. Still, before investing, it’s important to do your research and understand the perils involved.
Some factors to consider when evaluating marijuana stocks include the company’s financial performance and management team. Plus it’s a competitive landscape, and how all parts of the industry work. Additionally, you should also look into the company’s growth prospects, including any potential expansion plans or new product launches. When you know a company is in good standing it builds more confidence to invest. Especially when looking for the best marijuana stocks to buy.
It’s also important to consider the legal status of cannabis in the jurisdictions in which the company operates. Marijuana remains illegal at the federal level in the United States yet many feel that once federal reform is passed it will lead to all-around better trading.
Overall, investing in marijuana stocks can be a way to potentially profit from a growing industry. But it’s important to proceed with caution and carefully evaluate each investment opportunity before making any decisions. The companies below are several marijuana stocks to watch for the rest of the month.
Top Marijuana Stocks To Watch Today
Verano Holdings Corp. (OTC:VRNOF)
Green Thumb Industries Inc. (OTC:GTBIF)
Verano Holdings Corp.
Verano Holdings Corp. operates as a vertically integrated multi-state cannabis operator in the United States. It engages in the cultivation, processing, wholesale, and retail distribution of cannabis throughout the United States.
The company offers artisanal cannabis products under the Encore, Avexia, MUV, and Verano brands for medical and adult-use markets. The company is headquartered in Chicago, Illinois. On March 2nd the company announced it will report its Q4 2022 full-year financial results. So the company will report its earnings before the market opens on Thursday, March 30, 2023.
[Read More]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, the company reported its fourth quarter and full-year earnings.
Q4 Highlights
- Revenue of $259 million increased 6% year-over-year and decreased 1% sequentially.
- Cash flow from operations of $70 million.
- Cash at quarter end totaled $178 million.
- GAAP net loss of ($51 million) or ($0.22) per basic and diluted share.
[Read More] 3 Marijuana Stocks To Buy In Todays Stock Market 2023?
2022 Year Highlights
- Revenue of $1 billion increased 14% over the prior year.
- Cash flow from operations of $159 million.
- GAAP net income of $12 million or $0.05 per basic and diluted share.
- Adjusted net income of $75 million or adjusted basic and diluted earnings per share of $0.32, excluding non-cash impairment charges recognized in the fourth quarter.
- Adjusted Operating EBITDA of $311 million or 31% of revenue.
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