Will Federal Reform Lead To Bounce For Marijuana Stocks?
With almost the first month of 2024 gone legal cannabis is put on the front lines once again. Over the next several months we will see more states try to not only pass legalization measures but improve upon existing laws. Although cannabis is still federally illegal more than half of the US has legalized cannabis in some form. Whether it is a recreational market or a medical market being able to operate legally is a major win. Yet it is only one of the many pieces to the framework of legal cannabis.
Currently, Florida is going to vote on the Adult use of marijuana. What this would do is end the need for any medical cards or recommendations from a doctor. If the law passes people can just go into dispensaries and purchase weed legally without a medical card. Florida is a tricky state to establish a recreational market due to its political influence in the state.
But even as it stands Florida’s legal cannabis market is growing day by day. Also, Texas is working to pass reform measures that aim to decriminalize cannabis in the state. Texas in addition to a few other states is known for having harsh cannabis penalties. So if things do work out for the state it would be a big victory for cannabis in a state that was not in favor of it. Hopefully, all this news on reform, helps how marijuana stocks perform in the market. All in all legal cannabis in the US is moving and developing at a fast pace. Now is a good time to do your research and find a way to get invested.
MarijuanaStocks To Watch This Week
- Canopy Growth Corporation (NASDAQ:CGC)
- Cronos Group Inc. (NASDAQ:CRON)
- The Scotts Miracle-Gro Company (NYSE:SMG)
Canopy Growth Corporation
Canopy Growth Corporation, together with its subsidiaries, engages in the production, distribution, and sale of cannabis and hemp-based products. Which is mainly for recreational and medical purposes primarily in Canada, the United States, and Germany. In recent news, the company announced that it has entered into subscription agreements dated as of January 18, 2024. 
This agreement was done with certain institutional investors in a private placement offering. The offering was 8,158,510 units at a price per Unit of US$4.29 for aggregate gross proceeds of approximately US$35 million. The purpose of the Offering is to provide the Company with additional liquidity to further strengthen Canopy Growth’s financial position.
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Cronos Group Inc.
Cronos Group Inc. operates as a cannabinoid company. It manufactures, markets, and distributes hemp-derived supplements. Plus cosmetic products through e-commerce, retail, and hospitality partner channels under the Lord Jones brand in the United States. On January 9th the company announced it has entered Australia’s cannabis market. 
The company sent its first shipment of cannabis flower to Vitura Health Limited. Cronos owns approximately 10% of the common shares of Vitura. However, at one time the company was known as Cronos Australia, and will supply cannabis for Vitura.
Words From The CEO
“Supplying the Australian market, which has grown significantly in the past three years, is a great milestone for Cronos as we aim to enter and expand within international markets,” said Mike Gorenstein, Chairman, President, and CEO, Cronos.”
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The Scotts Miracle-Gro Company
The Scotts Miracle-Gro Company together with its subsidiaries, manufactures, markets, and sells products for lawn and garden care. In addition to indoor and hydroponic gardening in the United States and internationally. It operates through three segments: U.S. Consumer, Hawthorne, and Other. 
Recently the company reported its quarterly dividend payouts. The company’s Board of Directors has approved the payment of a cash dividend of $0.66 per share. The dividend is payable on Friday, March 8, 2024, to shareholders of record as of Friday, February 23, 2024.
MAPH Enterprises, LLC | (305) 414-0128 | 1501 Venera Ave, Coral Gables, FL 33146 | new@marijuanastocks.com
