Cannabis Stocks To Watch This Week In January

Top Cannabis Stocks For Your 2024 Investing

This upcoming year stands to be a crucial year for marijuana stocks. If you are wondering what will be different there has been no sign of volatility slowing up. So what is it that keeps people invested and intrigued? For those who are not turned off by the level of volatility believe they will see big gains in the future. The future of the cannabis industry as a whole is moving down a good path for the most part. Outside of some global regions and various states legal cannabis is turning a a major profit.

But with a lack of reform and other regulatory concerns, this success has not transcended into better trading. Nevertheless, this has not stopped people from searching for the best marijuana stocks to buy. The legal industry in the United States is generating over a billion dollars in revenue. With numbers this big it’s doubtful that any type of shutdown will occur. As most know there is an ongoing fight to establish federal reform which many feel will lower the volatility.

Not just that 2024 is setting up to be a year where more companies release new products under strategic partnerships. Hopefully, the more progress that continues to happen will ultimately play a part in sustaining better trading. The cannabis companies mentioned below are some top cannabis stocks to watch as 2024 soon begins.

Top Marijuana Stocks To Watch This Week

  1. Planet 13 Holdings Inc. (OTC:PLNH)
  2. TerrAscend Corp. (OTC:TSNDF)
  3. The Cannabist Company Holdings Inc. (OTC:CBSTF)

Planet 13 Holdings Inc.

Planet 13 Holdings Inc. an integrated cannabis company, engaging in the cultivation, production, and distribution, of cannabis. As well as the marketing of cannabis and cannabis-infused products. Specifically for medical and retail cannabis markets in Nevada, the United States. planet13

In more recent news the company announced a new attraction the world famous Koolsville tattoo shop. This new opening will be inside the Las Vegas superstore.

Words From The CEO

“One of the strategic goals we laid out at the start of the year was to add attractions and increase utilization of the Las Vegas SuperStore footprint,” said Larry Scheffler, Co-CEO of Planet 13. “The addition of Koolsville helps offset our lease costs while adding yet another exciting partner who will drive additional traffic to our SuperStore. This expands our unique entertainment options, further enhancing the customer experience.”

TerrAscend Corp.

TerrAscend Corp. cultivates, processes, and sells medical and adult-use cannabis in Canada and the United States. TSNDF

The company produces and distributes hemp-derived wellness products to retail locations; and manufactures cannabis-infused artisan edibles. Back on November 9th, the company reported its Q3 2023 earnings.

Third Quarter 2023 Financial Highlights

  • Net Revenue was $89.2 million, compared to $72.1 million in Q2 2023 and $66.2 million in Q3 2022, representing an increase of 23.7% sequentially and 34.7% year-over-year.
  • Gross Profit Margin was 53.6%, compared to 50.2% in Q2 2023 and 47.0% in Q3 2022.
  • GAAP Net loss from continuing operations was $8.4 million, compared to $12.9 million in Q2 2023 and $300.6 million in Q3 2022.
  • EBITDA from continuing operations1 was $20.7 million, compared to $6.5 million in Q2 2023 and ($317.9) million in Q3 2022.
  • Adjusted EBITDA from continuing operations1 was $24.2 million, compared to $12.8 million in Q2 2023 and $12.8 million in Q3 2022.
  • Adjusted EBITDA Margin from continuing operations1 was 27.1%, compared to 17.8% in Q2 2023 and 19.3% in Q3 2022.
  • Net cash provided by operating activities – continuing operations was $9.4 million compared to $1.8 million in Q2 2023 and $2.3 million in Q3 2022.
  • Free cash flow from continuing operations2 was $7.7 million compared to ($0.2) million in Q2 2023 and ($9.5) million in Q3 2022.

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The Cannabist Company Holdings Inc.

The Cannabist Company Holdings Inc. engages in the cultivation, manufacture, and provision of cannabis products and related services in the United States and internationally. On December 14th the company announced the expansion of its collaboration with the minority-owned baked goods and infused edibles company, ButACake, to New Jersey.

Expansion into additional markets is slated for 2024 pending regulatory approval. ButACake’s newly developed oral dissolvable strips will be available at Cannabist locations in Deptford and Vineland, as well as other dispensaries across the state starting today.

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Words From The VP Of The Company

We are excited to introduce this amazing new product to our New Jersey customers and expand our wonderful collaboration with ButACake to a new market,” said Volley Hayhurst, VP, Operations, The Cannabist Company. “Working with ButACake’s founder, Matha Figaro, in Delaware has been a huge success, and we know her delicious products will be a big hit in the New Jersey market.

MAPH Enterprises, LLC | (305) 414-0128 | 1501 Venera Ave, Coral Gables, FL 33146 |
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