marijuana stocks

3 Marijuana Stocks To Follow in 2024

The cannabis industry’s growth potential is fueled by the increasing acceptance of medicinal marijuana. In addition to the gradual destigmatization of recreational use. Research and development efforts within the industry focus on discovering new therapeutic uses and improving cultivation techniques. There has been major innovation to the consumer side of the industry and this intrigues many to get invested.

The industry comprises various sectors, including cultivation, distribution, and research, with numerous companies seeking to capitalize on the expanding market. However, challenges persist, including regulatory uncertainties, banking restrictions, and the lack of federal reform. Which is still an ongoing battle and has been the biggest catalyst for most cannabis stocks. The cannabis sector’s market volatility is also common due to its relatively young and evolving nature. In fact, market volatility was the reason why many were able to find the top marijuana stocks to buy.

Oftentimes volatility leads to a drop in trading versus a rise. Yet the entire cannabis sector has an unpredictable trading pattern for most publicly traded companies. Still with 2024 almost here many are preparing for the future. This involves buying and holding and taking more time to create better trading and investment strategies. Below are some top cannabis stocks to watch heading into the new year.

Marijuana Stocks To Watch 2024

Planet 13 Holdings Inc. (OTC:PLNH)
GrowGeneration Corp. (NASDAQ:GRWG)
Jushi Holdings Inc. (OTC:JUSHF)

Planet 13 Holdings Inc.

Planet 13 Holdings Inc. an integrated cannabis company, engages in the cultivation, production, distribution, and marketing of cannabis and cannabis-infused products for medical and retail cannabis markets in Nevada, the United States. planet13

In more recent news the company announced a new attraction the world famous Koolsville tattoo shop. This new opening will be inside the Las Vegas superstore.

Words From The CEO

“One of the strategic goals we laid out at the start of the year was to add attractions and increase utilization of the Las Vegas SuperStore footprint,” said Larry Scheffler, Co-CEO of Planet 13. “The addition of Koolsville helps offset our lease costs while adding yet another exciting partner who will drive additional traffic to our SuperStore. This expands our unique entertainment options, further enhancing the customer experience.”

GrowGeneration Corp.

GrowGeneration Corp. through its subsidiaries, owns and operates retail hydroponic and organic gardening stores in the United States. GRWG On November 8th the company reported its Q3 2023 financial earnings.

Q3 2023 Highlights

  • Net sales decreased 13% quarter-over-quarter to $55.7 million
  • Comparable store sales decreased 14.4% to the prior year
  • Gross profit margin of 29.1%, an increase of 320 basis points to the prior year
  • Net loss of $7.3 million, compared to a net loss of $7.2 million in the prior year
  • Adjusted EBITDA(1) loss of $0.9 million, an improvement of $1.8 million to 2022

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Jushi Holdings Inc.

Jushi Holdings Inc. a vertically integrated cannabis company, engages in the cultivation, processing, retail, and distribution of medical and adult-use products. Jushi pot stocks

It focuses on building a portfolio of cannabis assets in various jurisdictions in Pennsylvania, Virginia, Ohio, Illinois, California, Nevada, and Massachusetts. On November 23rd the company announced the filing of a preliminary base shelf prospectus.

The Shelf Prospectus, when made final and effective, will allow the Company to offer up to C$600 million of subordinate voting shares, preferred shares. In addition to subscription receipts, debt securities, convertible securities, warrants, and units or any combination thereof, from time to time during the 25 months that the Shelf Prospectus is effective

[Read More] Cannabis Reform Will Help Marijuana Stocks In 2024

The Company intends to file the Final Shelf Prospectus to maintain financial flexibility, including responding to significant regulatory improvements and pursuing opportunistic acquisitions.

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