Top Marijuana Stocks Investors Should See As Opportunities
More cannabis companies are preparing to report earnings, and this could be big for the sector. There has been an increase in people investing in marijuana stocks. The reason is that it is the easiest way to be part of the industry without all the heavy lifting. You do not need to start a company and go into production. The ability for cannabis companies to be publicly traded gives people the opportunity to find top marijuana stocks to buy. The amount of growth and progress that occurred over the last several years is only proving why legal cannabis should have been established long ago.
Today the sector is on a ramp with more demand for cannabis than ever before. The level of support for federal reform has been fueling the markets as well giving some pot stocks a boost in trading. Hopefully, strong earnings spark positive speculation for investors to trade better reaching more profits and progress overall.
Now is a good time to find ways to enter the market before federal reform is passed. With how volatile the sector can be federal is seen as a way to ease the unpredictable volatile patterns that have been both a blessing and a curse for some. Nevertheless, legal cannabis is growing, and investing before things truly level out and take off is essential. Below are several marijuana stocks to watch today.
Marijuana Stocks For Your Watchlist
- GrowGeneration Corp. (NASDAQ:GRWG)
- Hydrofarm Holdings Group, Inc. (NASDAQ:HYFM)
- The Scotts Miracle-Gro Company (NYSE:SMG)
GrowGeneration Corp.
GrowGeneration Corp., through its subsidiaries, owns and operates retail hydroponic and organic gardening stores in the United States. 
On October 9th the company released info on its Q2 2024 earnings call highlights.
Q2 Q2 2024 Earnings Key Mentions And Highlights
- Net Revenue: $53.5 million, a sequential increase of 11.7% from $47.9 million in Q1 2024.
- Adjusted EBITDA Loss: $1.1 million, a $1.7 million improvement from Q1 2024.
- Gross Margin: 27%, a 110 basis point improvement from the previous quarter.
- Same-Store Sales: $41.1 million, a decrease of 6.2% year-over-year.
- Proprietary Brand Sales: Increased to 21.5% of cultivation and gardening net sales from 16.7% in the same period last year.
Hydrofarm Holdings Group, Inc.
Hydrofarm Holdings Group, Inc., together with its subsidiaries, manufactures and distributes controlled environment agriculture (CEA) equipment and supplies in the United States and Canada. Recently the company has revealed its success plan. 
As part of this plan, Bill Toler, the Company’s Chairman and Chief Executive Officer (CEO), has announced that he will be retiring from his position as CEO. Rather than leaving the company, he will become Executive Chairman of the Board of Hydrofarm, effective as of January 1, 2025. John Lindeman, currently Executive Vice President and Chief Financial Officer (CFO), will become CEO.
[Read More] Top Cannabis REITs to Watch in October 2024 for Strong Returns
Highlight And Key Points
- Mark Parker, currently Executive Vice President (EVP) of Sales and Business Development, will be promoted to the role of President;
- Kevin O’Brien, currently Chief Accounting Officer (CAO), will be promoted to CFO; and
- Erica Ackerman, currently Corporate Controller, will assume the additional role of CAO.
[Read More] These Marijuana Stocks Could Be Profitable Investments In 2024
The Scotts Miracle-Gro Company
The Scotts Miracle-Gro Company, together with its subsidiaries, manufactures, markets, and sells products for lawn, garden care, and indoor and hydroponic gardening in the United States and internationally. 
In recent news, the company has announced that it will report its fourth-quarter financial results on November 6. Which will happen prior to the opening of the U.S. financial markets. The Company will host a video presentation via webcast at 9:00 a.m. ET to discuss those results. The webcast will be followed by an audio question-and-answer session.
MAPH Enterprises, LLC | (305) 414-0128 | 1501 Venera Ave, Coral Gables, FL 33146 | new@marijuanastocks.com
