Here’s A List Of Marijuana Stocks To Watch This July
Marijuana stocks are one of the more challenging sectors to invest in. This is mainly due to how low the cannabis sector has fallen. If you once invested in marijuana stocks today’s sector may cause a bit of frustration. For new investors now is a good time to do your research and build a watch list of companies to invest in. Whenever there is a pullback in a sector this is an opportune time to start looking for the best marijuana stocks to buy.
Even a seasoned trader and investor see what is happening and is looking towards the future when there is buying moment in the market. Yet most of the sector is not trading how it once was and many believe this will change soon. The cannabis industry is still young but growing and progressing at a fast pace. Right now there is an ongoing battle to establish some type of federal reform.
Cannabis is still illegal on a federal level even with more than half of the USA having legalized marijuana in some form. What this indicates is that it is possible to see more success as cannabis companies continue to show innovation. The companies below are several marijuana stocks to watch as people look to cannabis as a long-term investment.
Marijuana Tech Stocks To Watch In 2023
- WM Technology, Inc. (NASDAQ:MAPS)
- Leafly Holdings, Inc. (NASDAQ:LFLY)
- The Scotts Miracle-Gro Company (NYSE:SMG)
WM Technology, Inc.
WM Technology, Inc. provides e-commerce and compliance software solutions to retailers and brands in the cannabis market in the United States and internationally. In recent news, the company has reported its 2023 first-quarter earnings.
Q1 2023 Highlights And Key Mentions
- Revenue was $48.0 million as compared to $57.5 million in the first quarter of 2022 (“prior year period”).
- The average monthly paying clients(1) was 5,641, as compared to 5,026 from the prior year period.
- Average monthly revenue per paying client(2) was $2,837, as compared to $3,810 from the prior year period.
- Net loss was $4.0 million as compared to net loss of $31.2 million from the prior year period.
- Adjusted EBITDA(3) was $7.1 million as compared to $(1.0) million from the prior year period.
- Basic and diluted net loss per share was $0.03 based on 92.3 million Class A Common Stock weighted average shares outstanding.
- Total shares outstanding across Class A and Class V Common Stock were 148.1 million as of March 31, 2023.
- Cash totaled $25.9 million as of March 31, 2023, with no long-term debt.
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. On May 11th the company reported its Q1 2023 financial results.
First Quarter Financial Results
- Revenue was $11.2 million, down 1.5% from Q1 2022.
- Gross margin was 88%, improved from 87% in Q1 2022.
- Total operating expense was $14.9 million, down 14.7% from $17.4 million in Q1 2022, reflecting the impact of recently announced cost cutting measures.
- Net loss for Q1 2023 was $5.4 million. This compares to net loss of $19.4 million in Q1 2022.
- Adjusted EBITDA loss was $3.3 million, compared to adjusted EBITDA loss of $5.4 million in Q1 2022.
The Scotts Miracle-Gro Company
The Scotts Miracle-Gro Company is involved in the manufacture, marketing, and sale of products for lawn, garden care, and indoor and hydroponic gardening in the United States and internationally. It operates through three segments: U.S. Consumer, Hawthorne, and Other. On June 22nd the company launched the #ThinkWaterPositive initiative to mitigate water quality and quality challenges.
Building on the company’s existing water stewardship commitments, #ThinkWaterPositive enhances ScottsMiracle-Gro’s focus on water-wise product innovation. As well as nonprofit and community engagement, and consumer education. #ThinkWaterPositive will help consumers create, maintain, and enjoy living landscapes while minimizing impacts on water resources and native species.
[Read More] 3 Marijuana Stocks To Buy Before July?
Words From The Company
“Our planet is changing, and we have a responsibility to help consumers navigate those changes while still taking advantage of all the benefits that green spaces provide around their homes,” Dr. Paula Powell, senior vice president, research and development, ScottsMiracle-Gro, says. “With drought conditions persisting in many regions, water stewardship is a top priority as we innovate our products, application processes, and consumer guidance.”
MAPH Enterprises, LLC | (305) 414-0128 | 1501 Venera Ave, Coral Gables, FL 33146 | firstname.lastname@example.org