Here Are 3 Marijuana Stocks To Buy Before The New Year
Marijuana stocks have had their fair share of ups and downs no pun intended. In 2023 much of the cannabis sector saw a big rise in volatile trading. Now many analysts have been touching on market volatility for a long time. Yet it continued to increase for a large part of the sector. But what is causing this and how can it be sorted heading into a new year?
To begin much of the volatility stems from regulatory issues even though almost the entire United States has legalized cannabis in some form. Investors want to feel safe about what they are putting their money into. But with no protective measures federally in place this creates fear among investors. In 2024 many are going to use the battle of federal reform to leverage taking gains. Investors know that history has shown when positive news on reform is released marijuana stocks often react well.
So this year some are going to use this strategy as a way to leverage the volatility in the cannabis sector. Right now many are searching for the best marijuana stocks to buy in preparation for a new year of trading. Like always make sure you do your research and learn all you can about the companies that pique your interest. The companies below are some marijuana stocks to watch as 2024 soon arrives.
Marijuana Stocks To Watch Today
- GrowGeneration Corp. (NASDAQ:GRWG)
- Agrify Corporation (NASDAQ:AGFY)
- Hydrofarm Holdings Group, Inc. (NASDAQ:HYFM)
GrowGeneration Corp.
GrowGeneration Corp. through its subsidiaries, owns and operates retail hydroponic and organic gardening stores in the United States. 
On October 25th the company has scheduled its 3rd quarter earnings release conference call for November 8th after market close. The announcement will be followed by a live earnings conference call at 4:30 p.m. ET.
Agrify Corporation
Agrify Corporation develops precision hardware and software cultivation and extraction solutions for the cannabis and hemp industry in the United States. 
On October 30th the company announced a transfer of its existing credit facility. In addition to an expected new equity investment.
Words From The Company
“In 2023, we made tremendous efforts to reduce our operating loss and cash burn and have also worked to settle trade payables and reduce and restructure our liabilities,” said Mr. Chang.”
[Read More] Are These Marijuana Stocks A Buy Or Sell 2024?
Key Transaction Terms
- Immediately prior to the Note Purchase closing, the Existing Lender converted $3.0 million in principal amount outstanding under the Senior Secured Note due 2025 issued by Agrify to the Existing Lender on August 19, 2022. Plus $1.1 million accrued interest, to warrants to purchase 2,809,669 shares of Agrify common stock (“Common Stock”) at a conversion rate equal to the Minimum Price pursuant to Nasdaq Listing Rules. As well as the exchange of the right to receive 375,629 shares held in abeyance under a prior exchange agreement for the same number of warrants. The warrants have an exercise price of $0.001 per share.
- Subject to shareholder approval, the number of shares underlying the warrants issued to the Existing Lender shall be proportionally increased in the event that Mr. Chang or any of his affiliates acquire securities from Agrify through purchase or conversion or modify the conversion price of any securities held by them.
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Hydrofarm Holdings Group, Inc.
Hydrofarm Holdings Group, Inc. together with its subsidiaries, engages in the manufacture and distribution of controlled environment agriculture (CEA) equipment and supplies in the United States and Canada. 
On October 26th the company released news regarding the release of its Q3 2023 financial earnings. With this Hydrofarm plans to release its earnings on November 9th. A press release containing third quarter 2023 results will be issued after market close that same day.
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