3 Marijuana Stocks For Cannabis Investing In June
Finding the best marijuana stocks to buy is what every investor wants who are into cannabis investing. With how volatile the sector has become how do these investors go about finding the right cannabis stocks to invest in? The answer requires several steps which are not a guarantee but could give you the best odds at making money. So to start you should one know how to trade or learn the basics.
Next, you want to build a watch list of potential marijuana companies you feel are worth investing in. After you have your watchlist you should do your homework on each of the companies on your list. As well as watch how they perform in the market. Once you have formed an understanding of each marijuana stock’s market behavior and how progressive they are out of the market you can then make your choice.
The more you know about a company the better the confidence you will have when investing. Now before you begin to buy shares you should have a trading plan that you stick to and one that will help adapt to any market changes. Especially in the cannabis sector where due to volatility things can change without warning. Below are several marijuana stocks to watch this week for better momentum.
Marijuana Stocks For Your 2023 Watchlist
- Trulieve Cannabis Corp. (OTC:TCNNF)
- Green Thumb Industries Inc. (OTC:GTBIF)
- Cresco Labs Inc. (OTC:CRLBF)
Trulieve Cannabis Corp.
Trulieve Cannabis Corp. together with its subsidiaries, operates as a medical cannabis company. The company cultivates and produces products in-house and distributes its products to Trulieve branded stores (dispensaries) in Florida, as well as through home delivery.
Recently the company announced it has collected 965,000 signatures for Florida’s Smart & Safe campaign. That number represents more than enough to secure ballot placement for the 2024 General Election. The initiative, if passed, will allow adult Floridians (ages 21+) to enjoy the freedom to use cannabis products for personal consumption.
Words From The CEO
Trulieve CEO, Kim Rivers said, “Our investment demonstrates our firm belief that Floridians are ready to experience the freedom to use cannabis for personal consumption; a freedom which is currently enjoyed by more than half of America’s adults. With over 965,000 validated signatures from nearly every part of our state, it is clear these voters share that belief. We are thrilled the campaign has made this milestone and look forward to seeing this initiative on the ballot next November.”
[Read More] 2 Marijuana Stocks To Buy 2nd Week Of June
Green Thumb Industries Inc.
Green Thumb Industries Inc. engages in the manufacture, distribution, and sale of various cannabis products for medical and adult use in the United States. In recent news, the company has opened RISE Bristol. This makes for the company’s 80th retail location in the Nation.
Words From The Company
“We are thrilled to open RISE Bristol in Virginia, further expanding Green Thumb’s commitment to providing access to premium cannabis brands,” said Green Thumb Founder, Chairman, and Chief Executive Officer Ben Kovler. “RISE Bristol will serve as a place of well-being, compassion, and support for medical cannabis patients in Virginia.
[Read More] 2 Marijuana Stocks To Know About In June
Cresco Labs Inc.
First Quarter 2023 Financial Highlights
- First quarter revenue of $194 million, down 3% sequentially.
- Branded equivalized unit volume of 17.6 million, up 32% year-over-year1.
- Retail transactions of 1.2 million, a 4% increase year-over-over.
- Adjusted gross profit2 of $89 million, 46% of revenue.
- Adjusted EBITDA2 of $29 million, 15% of revenue.
- First quarter net loss of $28 million.
- Generated positive operating cash flow of $3 million inclusive of making $32 million of tax payments in the quarter.
- Opened eight total Sunnyside stores in Florida and Pennsylvania, bringing the nationwide store count to 63.
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