Marijuana Sector News

Top Marijuana Stocks In The Cannabis Space 2023

Investing In Marijuana Stocks? Here Are 3 Cannabis Companies For You

3 Marijuana Stocks To Buy Off The Dip 2023

To invest in the cannabis space there are several things to consider. Intially you want to figure out what companies you feel are worth investing in. One of the better ways to do so is to build a marijuana stock watchlist. When you have a list of companies you can then begin the due diligence process. Learn all you can about each marijuana stock. For example, research what the company does and what value do they offer the cannabis industry.

Not just as a company how does the company perform in the stock market? At times a company can flourish as a business but not in the stock market. Yet this does not mean they are not a good marijuana stock to buy. It takes strategic investing and patience in today’s cannabis sector to truly see meaningful gains. Now this is not always the case as most cannabis stocks trade in a volatile space. Once you have done your research you can then narrow down your list to companies you know have the best odds at making you money.

Right now the focus is on the future of the sector and taking profits as they come. You should pay attention to the cannabis sector on good days to see what impacts marijuana stocks. Once you have done all of the above it becomes a bit easier to invest and remain patient till it’s time to buy or sell. The companies below are several marijuana stocks to watch this month.

Marijuana Stocks To Watch In 2023

  1. GrowGeneration Corp. (NASDAQ:GRWG)
  2. Hydrofarm Holdings Group, Inc. (NASDAQ:HYFM)
  3. High Tide Inc. (NASDAQ:HITI)

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 2023 earnings. The company also attended the Benzinga Cannabis Conference at the end of September 2023.

Q2 2023 Highlights

  • Net sales increased 12% quarter-over-quarter to $63.9 million
  • Comparable store sales decreased 15.1% to the prior year
  • Gross profit margin of 26.8%, decrease of 1.7% to the prior year
  • Net loss of $5.7 million and Adjusted EBITDA(1) gain of $0.9 million
  • Year-to-date cash flow provided by operations of $7.4 million
  • Cash, cash equivalents, and marketable securities of $70.6 million
  • Changing full-year 2023 guidance for revenue to be $220 million to $225 million and Adjusted EBITDA(1) to be a loss of $4 million to $6 million

[Read More] 3 Marijuana Tech Stocks To Follow This Week

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.

It’s been about 8 weeks since the company has reported any new updates. Back in August, the company announced its second quarter 2023 results.

Second Quarter 2023 Highlights

  • Net sales decreased to $63.1 million compared to $97.5 million.
  • Gross Profit increased to $14.5 million compared to $7.3 million. Gross Profit
  • Margin increased to 23.0% of net sales compared to 7.5%.
  • Adjusted Gross Profit(1) increased to $17.0 million compared to $9.1 million.
  • Adjusted Gross Profit Margin(1) increased to 27.0% of net sales compared to 9.3%.
  • Net loss was $12.9 million compared to net loss of $203.3 million.
  • Adjusted EBITDA(1) increased to $2.5 million compared to $(6.8) million.
  • Cash from operating activities of $9.9 million and Free Cash Flow(1) of $8.3 million.

[Read More] Steps To Investing In Marijuana Stocks Today

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. Recently the company placed 38th on The Globe and 5th annual ranking of Canada’s top-growing companies.

Canada’s Top Growing Companies ranks Canadian companies on three-year revenue growth. High Tide earned its spot with a three-year growth of 1,040%. This follows the Company’s 2022 ranking of 21st out of 430 companies, with a three-year growth rate of 1,970%.

By J. Phillip

Coming from Miami FL, Jonathan Phillip or (J. Phillip) is a social media marketer and currently head of PR and social media management for When working with clients in various sectors Jonathan will use his expertise and knowledge to make sure the correct audience is viewing and engaging with your content product or service. Jonathan is a self-taught marketer and entrepreneur learning from the best and sharpening his skills with each project.

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