3 Marijuana Stocks To Watch For Stronger Momentum
As marijuana stock investors begin a new week their eyes are open for market momentum. As we close in on the back end of 2024 there has been a great deal of progress for the cannabis industry. Despite this success not 100 percent turning into better trading that does not mean it won’t in the future. At one time when news on a company’s progress was known it helped with how either one company or much of the sector traded.
At this time more people are taking an interest in learning how to invest in legal cannabis. Some find diving into startups is their way and others find marijuana stocks as the easier way to enter. This is where learning about the sector and which marijuana stocks to buy are the ones that will yield profits are keen. Now there is no guarantee but with preparation and thorough due diligence, novice investors can potentially make some money.
Especially with all that going on with federal laws and regulatory concerns being dealt with it has led to a volatile space for some time. Nevertheless, there is much speculation about what will take place in the future that can help fuel upward trading. Until such time people are keeping an eye on the top marijuana stocks to watch and waiting for the right moment to buy and sell.
Top Marijuana Stocks To Watch Today
- Greenlane Holdings, Inc. (NASDAQ:GNLN)
- GrowGeneration Corp. (NASDAQ:GRWG)
- Cresco Labs Inc. (OTC:CRLBF)
Greenlane Holdings, Inc.
Greenlane Holdings, Inc. engages in the development and distribution of cannabis accessories, vape devices, and lifestyle products in the United States, Canada, and Europe. 
It operates in two segments, Consumer Goods and Industrial Goods. In recent news, the company announced a nonbinding letter of intent to be the exclusive distributor in the U.S. of Safety Strips, Inc.’s Fentanyl, Xylazine, and Drink Spike Detection Test Strips.
Words From The Company
“We are excited and proud to provide Safety Strips affordable and highly accurate tests with trace level fentanyl and xylazine detection capabilities to our customers throughout the U.S.,” said Barbara Sher, Chief Executive Officer for Greenlane.”
GrowGeneration Corp.
GrowGeneration Corp., through its subsidiaries, owns and operates retail hydroponic and organic gardening stores in the United States. 
On August 8th the company reported its Q2 2024 financial results.
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Highlights And Key Mentions
- Net sales increased 11.8% quarter-over-quarter to $53.5 million;
- Proprietary brand sales as a percentage of Cultivation and Gardening net sales increased to 21.5% as compared to 16.7% in the same prior year period;
- Gross profit margin of 26.9%, a 110 basis point sequential improvement and an increase from 26.8% in the comparable 2023 period;
- Operating expenses decreased $2.5 million from the second quarter of 2023 to $20.9 million in the second quarter of 2024;
- Net loss of $5.9 million, a sequential improvement of $2.9 million;
- Adjusted EBITDA(1) loss of $1.1 million, a sequential improvement of $1.7 million; and
- Cash, cash equivalents, and marketable securities of $56.0 million and no debt.
Cresco Labs Inc.
Cresco Labs Inc., together with its subsidiaries, cultivates, manufactures, and sells retail and medical cannabis products in the United States. 
Recently the company reported its second quarter 2024 financial results. Which at this time showed consistent profitability for the company.
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Second Quarter 2024 Highlights
- Second quarter revenue of $184 million.
- Gross profit of $95 million. Adjusted gross profit1 of $97 million up 4% year-over-year; and an Adjusted gross margin1 of 52% of revenue, a 570 bps improvement.
- SG&A of $54 million. Reduced Adjusted SG&A1 by 14% year-over-year to $53 million, or 29% of revenue.
- Net loss of $51 million which includes a one-time $61 million charge in the quarter related to the Company’s new tax position, as further described below.
- Second quarter Adjusted EBITDA1 of $54 million, up 33% year-over-year; and
- Adjusted EBITDA margin1 of 29%, an 880 bps improvement.
- Second quarter operating cash flow of $17 million and Free Cash Flow1 of $11 million.
- Retained the No. 1 share position in Illinois, Pennsylvania and Massachusetts2.
MAPH Enterprises, LLC | (305) 414-0128 | 1501 Venera Ave, Coral Gables, FL 33146 | new@marijuanastocks.com
