3 Marijuana Stocks To Watch Heading Into Next Month
What will the future of marijuana stock investing and trading look like with better laws in place? Historically when there’s been positive news on any federal or state-level reform most pot stocks saw better trading. Much of what takes place in the publicly traded side of the industry is based on speculation and leveraging volatility. As more people see the upside to cannabis overall the idea is it will lessen the inconsistent trading patterns.
Investing in anything takes time patience and research which is no different for cannabis. The legal aspects of the industry are still being paved as it is still a young and growing sector. Currently over half of the USA has legalized marijuana in some form which is helpful to the growing demand for cannabis products. At this time there is more impact on how the majority of cannabis stocks perform based on regulatory concerns than company success.
Still, many cannabis companies are generating billions of dollars in tax revenue. Even though the laws of the industry need major improvements on all fronts this could be a time for people to look for top marijuana stocks to buy. Preparation in key and fundamentals for any type of investing. Creating a plan and learning all you can has the ability to increase an investor’s odds of seeing bigger gains. Below are several marijuana stocks to watch for cannabis investing in todays stock market.
Top Marijuana Stocks To Watch 2024
- Leafly Holdings, Inc. (NASDAQ:LFLY)
- WM Technology, Inc. (NASDAQ:MAPS)
- The Scotts Miracle-Gro Company (NYSE:SMG)
Leafly Holdings, Inc.
Leafly Holdings, Inc. owns and operates a platform to provide consumers with cannabis information and connects consumers to cannabis brands and licensed retailers. On August 8th the company released its Q2 2024 earnings. 
Highlights And Key Mentions
- Revenue was $8.7 million, compared to $10.7 million in Q2 2023.
- Retail revenue was $7.3 million, compared to $8.8 million in Q2 2023.
- Brand revenue was $1.4 million, compared to $1.8 million in Q2 2023.
- Gross margin was 89%, an improvement over Q2 2023 gross margin of 88%.
- Total operating expense was $8.4 million, a 17% reduction from $10.2 million in
- Q2 2023, reflecting operational rigor and continued focus on cost discipline.
- Net loss was $1.3 million, compared to net loss of $1.4 million for Q2 2023.
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WM Technology, Inc.
WM Technology, Inc. provides e-commerce and compliance software solutions to retailers and brands in the cannabis market in the United States and internationally. 
In recent news, the company also reported its second-quarter 2024 earnings.
Q2 2024 Financial Highlights
- Net income was $1.2 million as compared to $2.0 million in the prior year period.
- Adjusted EBITDA(3) decreased to $10.1 million from $10.2 million from the prior year period.
- Total shares outstanding across Class A and Class V Common Stock were 152.4 million as of June 30, 2024.
- Cash increased to $41.3 million as of June 30, 2024, as compared to $34.4 million as of December 31, 2023.
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The Scotts Miracle-Gro Company
The Scotts Miracle-Gro Company, together with its subsidiaries, manufactures, markets, and sells products for lawn, garden care, and indoor and hydroponic gardening in the United States and internationally. On July 31st the company reported its fiscal 2024 third quarter results. 
Financial Results
- U.S. Consumer third quarter net sales of $1 billion exceed prior year by 11 percent; Consumer engagement shows strength with unit POS up 10 percent year-to-date
- Third quarter GAAP gross margin rate of 29.5 percent improves 1,110 bps over prior year; Non-GAAP adjusted gross margin rate of 29.2 percent improves 790 bps
- Hawthorne proprietary Signature sales increase 6 percent in Q3
- Third quarter 2024 GAAP EPS of $2.28; Non-GAAP Adjusted EPS of $2.31 nearly doubles third quarter 2023 non-GAAP result
MAPH Enterprises, LLC | (305) 414-0128 | 1501 Venera Ave, Coral Gables, FL 33146 | new@marijuanastocks.com
