Are These Marijuana Stocks On Your Watch List?
The cannabis industry has experienced an amazing change in recent years. This includes evolving from an underground market to a legitimate and rapidly growing sector. As legalization spreads across various regions, investors are increasingly attracted to marijuana stocks. However, investing in this budding market comes with its own set of risks. Yet the explosive growth, particularly in the United States and Canada has allowed more people to enter the sector as well learn about it.
As of 2023, more than 50% of the USA has legalized cannabis for medicinal and recreational use. These legal states are contributing to a burgeoning market that analysts project will continue to develop for some time. Driven by increasing consumer demand, expanding product offerings, and greater acceptance of cannabis use there is a lot of untapped potential for investors. While the potential for high returns is appealing, finding marijuana stocks to buy also involves notable risks. The cannabis industry is marked by volatility, regulatory delays, and market saturation in some areas.
Numerous legal operators are still in their early stages, facing challenges such as supply chain issues, banking restrictions, and fluctuating consumer preferences. Again, the lack of standardized regulations across states and countries can create inconsistencies in business operations, further complicating the investment landscape. Nevertheless, there are still high hopes for the future with continued support and growth. The marijuana stocks to watch below could see better momentum amidst all the cannabis politics connected to the upcoming Presidential election.
Marijuana Stocks For Your New Watchlist
- GrowGeneration Corp. (NASDAQ:GRWG)
- Leafly Holdings, Inc. (NASDAQ:LFLY)
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. In recent news, the company announced a partnership with the New York Cannabis Retail Association. The NYCRA is a nonprofit coalition of NYC dispensary owners united under the slogan ‘Collaboration Over Competition.’ 
The partnership aims to help create a more sustainable, equitable, and inclusive cannabis industry. Together, Leafly and NYCRA will sponsor a series of industry events in 2024. All while implementing marketing initiatives designed to strengthen New Yorkers’ awareness of the importance of buying legal and local cannabis.
[Read More] Top Marijuana Stocks to Watch Right Now: Promising Investments in the Cannabis Industry
GrowGeneration Corp.
GrowGeneration Corp., through its subsidiaries, owns and operates retail hydroponic and organic gardening stores in the United States. 
Going back several weeks ago the company participated in the Lake Street Capital Markets 8th Annual Best Ideas Growth Conference. Also on August 8th, the company reported its Q2 2024 financial results.
[Read More] Marijuana Stocks To Buy During The Presidential Election
Second Quarter 2024 Highlights
- Net sales increased 11.8% quarter-over-quarter to $53.5 million;
- Proprietary brand sales as a percentage of Cultivation and Gardening net sales increased to 21.5% as compared to 16.7% in the same prior year period;
- Gross profit margin of 26.9%, a 110 basis point sequential improvement and an increase from 26.8% in the comparable 2023 period;
- Operating expenses decreased $2.5 million from the second quarter of 2023 to $20.9 million in the second quarter of 2024;
- Net loss of $5.9 million, a sequential improvement of $2.9 million;
MAPH Enterprises, LLC | (305) 414-0128 | 1501 Venera Ave, Coral Gables, FL 33146 | new@marijuanastocks.com
