Ancillary Cannabis Stocks to Follow This September
As the cannabis industry in the United States continues to grow, ancillary marijuana stocks are attracting significant attention from investors. These companies provide essential services and products that support the broader cannabis market, making them integral to the industry’s success. Currently, the US cannabis market is valued at over $30 billion, with projections indicating it could reach $50 billion by 2026. This rapid growth and increasing legalization efforts nationwide make ancillary cannabis stocks an intriguing investment opportunity. Recently, headlines have highlighted ongoing discussions about federal legalization, which could further boost the market. However, navigating this sector requires a careful approach, particularly given its volatility.
For those considering investing in ancillary cannabis stocks, technical analysis and proper risk management are crucial. Technical analysis involves studying price charts and patterns to identify potential entry and exit points. This approach can help investors make informed decisions in a market that can be unpredictable. Additionally, implementing risk management strategies, such as setting stop-loss orders, can protect against significant losses. With the right tools and strategies, investors can capitalize on the growth of the cannabis industry while mitigating potential risks. As the market continues to evolve, keeping an eye on these stocks could prove beneficial in the coming weeks.
As the cannabis industry expands, ancillary companies that provide essential services and products are gaining attention. These companies support the broader cannabis market, making them valuable additions to any investor’s watchlist. In this article, we’ll explore three top ancillary marijuana stocks that should be on your radar before September: WM Technology, Inc. (MAPS), Leafly Holdings, Inc. (LFLY), and Greenlane Holdings, Inc. (GNLN).
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September Spotlight: Leading Ancillary Cannabis Stocks to Watch
- WM Technology, Inc. (NASDAQ: MAPS)
- Leafly Holdings, Inc. (NASDAQ: LFLY)
- Greenlane Holdings, Inc. (NASDAQ: GNLN)
WM Technology, Inc.
WM Technology, Inc., better known as Weedmaps, is a leading technology and software provider in the cannabis industry. Weedmaps operates the largest online marketplace for cannabis consumers, connecting them with dispensaries across the United States. The platform allows users to search for cannabis products and dispensaries in their area, offering detailed information on pricing, availability, and customer reviews. Weedmaps’ largest presence is in California, where the cannabis market is one of the most mature in the country. The company works with thousands of nationwide dispensaries, providing valuable data and marketing solutions.
Weedmaps’ latest financials reflect the company’s strong position in the market despite facing industry challenges. In its most recent quarterly report, MAPS reported revenue of $48 million, a slight increase from the previous quarter. However, the company is grappling with a tightening regulatory environment and competitive pressures. Despite these challenges, Weedmaps has managed to maintain a healthy gross profit margin of over 90%, thanks to its scalable software-as-a-service (SaaS) business model. The company also focuses on expanding its product offerings and entering new markets to drive future growth. Additionally, Weedmaps is exploring opportunities in international markets, which could provide significant upside potential for investors.
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Leafly Holdings, Inc.
Leafly Holdings, Inc. is another key player in the ancillary cannabis space, offering an online platform similar to Weedmaps. The company serves as a comprehensive resource for cannabis consumers, providing information on various strains, products, and dispensaries. The platform is widely used across the United States, with its largest presence in states like California and Colorado. Leafly’s extensive database includes information on thousands of cannabis products, making it a go-to source for consumers looking to make informed purchasing decisions. The company also partners with numerous dispensaries, offering them tools to reach a broader audience and enhance online visibility.
Leafly’s recent financial performance highlights the company’s ongoing efforts to grow and adapt in a competitive market. In its latest earnings report, LFLY posted revenue of $12.1 million, a year-over-year increase of approximately 7%. The company has been improving its platform’s user experience and expanding its content offerings, contributing to this growth. However, Leafly has faced challenges, including increased competition and rising operational costs. Despite these hurdles, the company has reduced its net losses, reflecting improved cost management strategies. Leafly is also exploring new revenue streams, such as premium subscription services for consumers and enhanced advertising solutions for dispensaries, which could further bolster its financial performance.
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Greenlane Holdings, Inc.
Greenlane Holdings, Inc. is a leading provider of ancillary products to the cannabis industry, including packaging, accessories, and consumption devices. The company’s products are essential for consumers and businesses within the cannabis sector, making it a critical player in the supply chain. The company has a significant presence in the United States, with its products available in thousands of dispensaries and retail locations nationwide. Greenlane’s extensive product portfolio includes popular brands like PAX, Volcano, and Storz & Bickel, which are well-known among cannabis consumers.
Greenlane’s latest financials reveal a company in transition as it seeks to adapt to a rapidly changing market. In its most recent quarter, GNLN reported revenue of $19.6 million, a decrease from the previous quarter. The company has been focused on streamlining its operations and reducing costs to improve profitability. This includes divesting non-core assets and concentrate on higher-margin product lines. Greenlane has also been working on expanding its direct-to-consumer sales channel, which could provide a more stable and profitable revenue stream in the long term. While the company faces supply chain disruptions and competitive pressures, its strong brand portfolio and strategic initiatives position it well for future growth.
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Ancillary Cannabis Stocks Gaining Momentum: September’s Top Contenders
As the cannabis industry continues to evolve, ancillary companies like WM Technology, Leafly Holdings, and Greenlane Holdings are poised to play a vital role in its growth. These companies provide essential services and products that support the broader market, making them attractive options for investors looking to capitalize on the industry’s expansion. As always, conducting thorough research and considering the risks before making any investment decisions is crucial. Keep an eye on these stocks as we approach September, as they can potentially deliver significant returns in the coming months.
MAPH Enterprises, LLC | (305) 414-0128 | 1501 Venera Ave, Coral Gables, FL 33146 | new@marijuanastocks.com
