3 Marijuana Stocks To Buy Before The Next Market Recovery?
The cannabis industry continues to grow even with hold-ups with federal reform. More states are averagely generating over a billion dollars in revenue every quarter. That alone has been huge for the US cannabis industry. This has been even more proof that the need for not just federally legalizing marijuana but cannabis banking measures needs to be passed.
There is currently an ongoing battle to establish better comprehensive reform and regulations. In fairness, the industry is still young for how fast it has developed. With this success, more people want to find a way to partake in legal cannabis. Cannabis investing has not been an easy path for some as the increase in volatility has been tough for some. Yet with 2024 shaping up to be a big year, some are looking for the best marijuana stocks to buy.
Investors and cannabis enthusiasts see the future as another turning point for the sector. That is why many are preparing and strategizing for when it’s time to invest and take profits. As well you want to stay up to date on the sector and what companies are doing. The more info you have the more confidence you can feel about investing. Especially in a sector where things can change without warning. Below are some companies to keep an eye on when looking for the best marijuana stocks to watch today.
Top Marijuana Stocks To Watch 2024
- Verano Holdings Corp. (OTC:VRNOF)
- Ascend Wellness Holdings, Inc. (OTC:AAWH)
- Cresco Labs Inc. (OTC:CRLBF)
Verano Holdings Corp.
Verano Holdings Corp. operates as a vertically integrated multi-state cannabis operator in the United States. The company engages in the cultivation, processing, wholesale, and retail distribution of cannabis around the United States.
In recent news, the company has announced it has commenced its trading on Cboe Canada. The Shares will trade in Canada on Cboe Canada under the same symbol “VRNO” and in the U.S. on the OTCQX under the same symbol “VRNOF.”
Words From The Company
“In light of recent news and movement within the U.S. cannabis space, today’s listing on Cboe Canada, which is part of a global network of exchanges across 26 marketplaces, is an intentional and strategic decision,” said George Archos, Verano Founder and Chief Executive Officer.”
Ascend Wellness Holdings, Inc.
Ascend Wellness Holdings, Inc. engages in the cultivation, manufacture, and distribution of cannabis consumer packaged goods. On October 2nd the company announced it hold a third quarter 2023 earnings conference call.
This is set for Tuesday, November 7th, 2023. Ascend Wellness Leadership will participate in the call including Abner Kurtin, Executive Chairman; John Hartmann, Chief Executive Officer; and Dan Neville, Chief Financial Officer.
Cresco Labs Inc.
Cresco Labs Inc. together with its subsidiaries, cultivates, manufactures, and sells retail and medical cannabis products in the United States. On October 19th the company announced it had unlocked $32 million in nondilutive capital.
The company closed the sale of its sole licensed Arizona operation (“Encanto”) to an affiliate of Mint Cannabis for an aggregate purchase price of $6.5 million in cash. In addition, the Company has closed on a conventional mortgage on its Ellenville, NY properties for a principal amount of up to $25.3 million with an interest rate of 8.43%.
Words From The CEO
“We are pleased to announce the closing of the sale of our remaining Arizona asset. As we have highlighted over the past several quarters, we are focused on strengthening our operations and increasing profitability by leaning into our Core – core markets, core stores, core brands, and core products. Our exit from Arizona aligns with our strategy of optimizing our portfolio by prioritizing assets with a greater path to scale,” said Charles Bachtell, CEO of Cresco Labs.”
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