The Best 3 Marijuana Stocks For Traders Today
The cannabis industry is growing at a fast pace and more people are taking notice. What was once a taboo subject to discuss has now transformed into a booming industry. More and more people are trying to find a way into the industry even if they do not use cannabis. This has led more people to learn about how to invest in legal cannabis without any legal repercussions.
On the investment side of cannabis are marijuana stocks which are publicly traded companies. Being able to invest in cannabis stocks has given many the chance to be a part of the industry, particularly without having to do anything that breaks the law which is what concerns me most. In fact, the increase in volatile trading is mainly due to the fear of cannabis still being federally illegal. So from this people fear they will invest in an industry that could be shut down by federal regulators.
However, this is most likely not going to happen with all the progress legal cannabis has made. There has been so much success that more people want to find the best marijuana stocks to buy. Eventually, cannabis will be federally legal whether outright or rescheduled, and once it is many feel this will bring in major trading momentum. The companies mentioned in this article are several marijuana stocks to watch this month.
Top Marijuana Stocks 2023
- Greenlane Holdings, Inc. (NASDAQ:GNLN)
- High Tide Inc. (NASDAQ:HITI)
- IM Cannabis Corp. (NASDAQ:IMCC)
Greenlane Holdings, Inc.
Greenlane Holdings, Inc. develops and distributes cannabis accessories, vape solutions, 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 had a conference call to discuss its Q2 2023 financial earnings. As well Greenlane also reported its Q2 fiscal 2023 results.
Second Quarter 2023 Fiscal Earnings Highlights
- Revenue for Q2 2023 decreased to $19.6 million, compared to $24.0 million in Q1 2023.
- Operating expenses in Q2 2023 were reduced $0.9 million or 6.2% compared with Q1 2023.
- Net loss attributed to Greenlane Holdings, Inc. for Q2 2023 was $10.5 million, compared to $10.2 million in Q1 2023.
- Basic and diluted net loss of $6.56 per share compared to a loss of $6.40 per share for the prior quarter.
- Adjusted EBITDA loss for Q2 2023 was $5.8 million compared to a loss of $6.8 million for Q1 2023.
- The Company has launched 21 new products this year
High Tide Inc.
High Tide Inc. engages in the cannabis retail business in Canada, Europe, the United States, and internationally. The company manufactures and distributes smoking accessories and cannabis lifestyle products.
On September 1st the company announced its at-the-market program of up to CAD$30,000,000. This is for its strategic initiatives to replace previous åat-the-market programs.
Words From The Company
“I am pleased to announce the replacement of our previous at-the-market equity offering program. Even though the broader cannabis capital markets have been challenging, we have remained very disciplined in raising equity capital. For instance, I note that we only raised approximately $10 million from our $40 million previous at-the-market program over the 25-month period before it expired. The ATM Program in place can act as a low-cost source of capital, should the need arise,” said Raj Grover, President and Chief Executive Officer of High Tide.
[Read More] 3 Marijuana Stocks To Watch Today 2023
IM Cannabis Corp.
IM Cannabis Corp. engages in the breeding, growing, and supplying of medical cannabis products in Israel and Germany. 
It offers cannabis flowers and strain-specific cannabis extracts under the IMC brand. Back on August 14th, the company reported its second quarter 2023 results.
[Read More] 3 Marijuana Stocks For Cannabis Investing September 2023
Q2 2023 Financial Highlights
- Revenues stayed stable with a 4% year-over-year increase to $13.2 million
- 40% increase in Gross Margin
- 83% decrease in Non-IFRS Adjusted EBITDA Loss
- 33% decrease in operating expenses, a 20% decrease compared to Q1, 2023
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