These Top Marijuana Stocks Could Make A Difference In The Market
Investing in the best marijuana stocks can be a challenge at times. For example, you would think the company whos more successful would do better in the stock market. With the cannabis sector that is not always the case. There are times when business can be booming and profitable but the stock market does not have the best results. Over the last few years, the mindset on marijuana stock investing has changed. At one time cannabis stocks were seen as short-term investments due to how quick profits were being made.
Yet for some time this has not been the case and people see the future of cannabis where the money will be made. Although profits are made when there is a rise in trading momentum has not been sustainable. Now with the level of volatile trading, it becomes a little easier to find marijuana stocks to buy. This is becuase most pot stocks have unpredictable patterns and the volatility has brought most cannabis stocks down. This will be a big year for cannabis and marijuana stocks as a whole.
It’s an election year and presidential promises to help the cannabis industry can spark a bounce in trading. As well as the continued fight to pass federal reform. What is mentioned above has historically triggered a bounce in trading. If you can take up a position in the right cannabis stocks you may be able to have a profitable moment in 2024.
Marijuana Stocks For Your 2024 Portfolio
Curaleaf Holdings, Inc.
Curaleaf Holdings, Inc. operates a cannabis operator in the United States. It operates through Domestic Operations and International Operations segments. The company engages in the cultivation, production, and sale of cannabis products through retail and wholesale channels.
In recent news, the company celebrates the start of adult-use cannabis sales at a Hudson Valley, NY dispensary. So Curaleaf Hudson Valley is the Company’s first retail location to welcome adult-use patrons in the state.
Words From The CEO Matt Darin
“We are thrilled to commence adult-use sales at our Hudson Valley retail location,” said Matt Darin, CEO of Curaleaf. “Having served medical patients in the region for more than five years, we are eager to expand our services to adult-use consumers and deepen our connection with the greater Newburgh community.”
Cresco Labs Inc.
Cresco Labs Inc. together with its subsidiaries, cultivates, manufactures, and sells retail and medical cannabis products in the United States. On November 15th the company reported their Q3 2023 financial results.
Q3 2023 Highlights
- Third quarter revenue of $191 million, with retail growth and strong performance in core markets helping to offset purposeful attrition from divested assets.
- In comparison to Q1, when the Company initiated the Year-of-the-Core strategy, adjusted gross margin1 increased by over 480 bps, adjusted SG&A1 decreased by
$40 million on an annualized basis and adjusted EBITDA margin1 rose by over 1000 bps.
- Generated $62 million in operating cash flow through the first nine months of the year.
- Gross profit of $94 million, 49% of revenue.
- Adjusted gross profit1 of $96 million and adjusted gross margin1 of 51%, up 373 bps from the second quarter.
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Verano Holdings Corp.
On January 25th the company announced the opening of Zen Leaf Abington. This location is the biggest dispensary the company has opened.
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Words From The CEO
“Celebrating the grand opening of Zen Leaf Abington, our largest dispensary to date, marks the culmination of tremendous efforts by our team to continuously elevate the Zen Leaf experience in service of our valued medical patients,” said George Archos, Verano Founder and Chief Executive Officer.“
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