Here Are 3 Marijuana Stocks To Watch During 2024
Marijuana stock investors are keeping a strong focus on the future. In 2023 there was a lot of adjusting that needed to be done for shareholders. What this means is due to the level of volatility buying and selling marijuana stocks had to be timed strategically. For instance, most marijuana stocks trade with unpredictable patterns. Now this market action was not always like this as pot stocks used to trade consistently moment.
So the way a person knows when to find marijuana stocks to buy is based on how low the sector has dropped. As well as doing research and figuring out which companies are the better investment option. Now when there is a rise in trading it is mainly due to some type of catalyst. Historically news on federal reform or anything surrounding the politics of legal cannabis have been the biggest market movers.
So what most have been doing is buying the dip and waiting for a rise before taking profits. As simple as this sounds with the amount of volatility it becomes difficult to gauge when a recovery will take place. Even when companies release strong news it does not act as the catalyst needed to see a jump in trading. Nonetheless, with 2024 coming up there is more to be done in the industry that may lead to more upward trading. The companies below are some marijuana stocks to watch if you are interested in investing in legal cannabis.
Top Marijuana Stocks To Watch
Ayr Wellness Inc.
Ayr Wellness Inc. operates as a vertically integrated cannabis multi-state operator that cultivates and manufactures. As well as retail cannabis products and branded cannabis packaged goods. In recent news, the company announced the opening of an AYR dispensary in Dayton Ohio. 
This is the third AYR location in Ohio and the first in the Dayton Metropolitan Region. The new location closely follows the recent openings of AYR Woodmere, in the Greater Cleveland Region, and AYR Goshen, in Greater Cincinnati.
Words From The Company
“We are thrilled to support Daily Releaf to open the third AYR-branded dispensary in the emerging market of Ohio,” said David Goubert, President and CEO of AYR. “Following a historic Election Day, where Ohio voters made a strong statement to further expand access to cannabis, we are eager to develop relationships with patients and the broader community in the Dayton area and across Montgomery County.
Cresco Labs Inc.
Cresco Labs Inc. together with its subsidiaries, cultivates, manufactures, and sells retail and medical cannabis products in the United States. 
On November 15th the company reported their Q3 2023 financial results.
Q3 2023 Highlights
- Third quarter revenue of $191 million, with retail growth and strong performance in core markets helping to offset purposeful attrition from divested assets.
- In comparison to Q1, when the Company initiated the Year-of-the-Core strategy, adjusted gross margin1 increased by over 480 bps, adjusted SG&A1 decreased by
$40 million on an annualized basis and adjusted EBITDA margin1 rose by over 1000 bps. - Generated $62 million in operating cash flow through the first nine months of the year.
- Gross profit of $94 million, 49% of revenue.
- Adjusted gross profit1 of $96 million and adjusted gross margin1 of 51%, up 373 bps from the second quarter.
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Glass House Brands Inc.
Glass House Brands Inc. through its subsidiaries, cultivates, manufactures, and distributes cannabis bulk flowers and trims to wholesalers in California. Recently the company announced the closing of a $15 million series D preferred stock offering. 
The final closing of the Offering included approximately $4.1 million of new capital in addition to the $10.9 million raised from the first tranche of the Series D Preferred Stock offering that closed on August 23, 2023.
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Words From The CEO
Kyle Kazan, Glass House Co-Founder, Chairman, and CEO stated, “We are proud that we were able to raise this capital ourselves in-house, saving cash that would otherwise have been used to pay significant brokerage fees and instead using it to invest in our business. We’d like to thank our investors for believing in our company, and our future growth and contributing to its success by fully funding our Series D Offering.”
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