Are These 3 Top Marijuana Stocks A Buy Or Sell This Month
This past week most marijuana stocks saw quick rises and even faster declines. The reason most marijuana stocks were able to see a nice rise in trading had to do with reform. Right now legislators and key Senate members are working to pass federal cannabis reform. Possibly at the end of September, we may see the SAFE Banking Act finally become law. Once news on the matter surfaced it was the catalyst needed to see a recovery in the sector.
Now in a truly volatile fashion, the rise in trading was not met with any type of consistent moment. What this means is the upward trading that took place was not sustainable. Still, those who were able to make profits were able to take advantage of this opportunity. Yet even if you missed the pop in trading the pullback is a chance to find top marijuana stocks to buy. Any time there is a decline in trading this is where most would try to find the best marijuana stocks to buy.
In any type of investing, you always want to buy at a low point and sell at the highest price you can get. This takes time patience strategy and a fair amount of due diligence. When you can research a company and follow how they perform it can be an advantage when looking for cannabis stocks to invest in. Below are several marijuana stocks to watch for the rest of the month.
Top Marijuana Stocks To Watch Today 2023
Greenlane Holdings, Inc.
Greenlane Holdings, Inc. develops and distributes cannabis accessories, vape solutions, and lifestyle products in the United States, Canada, and Europe. It operates in two segments, Consumer Goods and Industrial Goods.
In recent news, the company had a conference call to discuss its Q2 2023 financial earnings. As well Greenlane also reported its Q2 fiscal 2023 results.
Second Quarter 2023 Fiscal Earnings Highlights
- Revenue for Q2 2023 decreased to $19.6 million, compared to $24.0 million in Q1 2023.
- Operating expenses in Q2 2023 were reduced $0.9 million or 6.2% compared with Q1 2023.
- Net loss attributed to Greenlane Holdings, Inc. for Q2 2023 was $10.5 million, compared to $10.2 million in Q1 2023.
- Basic and diluted net loss of $6.56 per share compared to a loss of $6.40 per share for the prior quarter.
- Adjusted EBITDA loss for Q2 2023 was $5.8 million compared to a loss of $6.8 million for Q1 2023.
- The Company has launched 21 new products this year
High Tide Inc.
High Tide Inc. engages in the cannabis retail business in Canada, Europe, the United States, and internationally. The company manufactures and distributes smoking accessories and cannabis lifestyle products. Recently the company reported its third quarter 2023 financial results.
- Revenue increased to $124.4 million in the third fiscal quarter of 2023.
- Free cash flow was $4.1 million in the third fiscal quarter of 2023 compared to ($2.0) million in the second fiscal quarter of 2023, and totaled $1.3 million for the first nine months of this fiscal year.
- Gross profit increased to $34.6 million in the third fiscal quarter of 2023.
- Gross profit margin in the three months ended July 31, 2023, was 28%, consistent with previous several quarters.
- Adjusted EBITDA² increased to $10.2 million (including a one-time return of $2.4 million from Manitoba’s SRF) in the third fiscal quarter of 2023.’
[Read More] 3 Marijuana Stocks To Buy Off The Dips 2023?
TILT Holdings Inc.
TILT Holdings Inc. operates in the cannabis industry in the United States, Canada, Israel, Mexico, South America, and the European Union. It operates through Cannabis, Accessories, and Other segments. Back on September 14th, the company announced it would be participating in the Benzinga Capital conference. Interim Chief Executive Officer Tim Conder will speak at the Benzinga Cannabis Capital Conference in Chicago Sept. 27-28, 2023.
Conder will join Jason Nelson of BeLeaf Medical, Jeffrey Schultz of Foley Hoag, Darren Lampert of GrowGeneration, and moderator Shia Kapos of Politico for a panel titled “Building a Successful Cannabis Business While Regulations Catch Up” at 3 p.m. CT, Wednesday, Sept. 27. Additionally, TILT will host one-on-one meetings with investors.
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