Cannabis Stocks In 2023 Before November

Are You Ready For These Marijuana Stocks Run?

It is possible that in Q3 of 2023, marijuana stocks begin to see better trading momentum. Now this can be due to several reasons but overall the cannabis industry is still evolving. What this means is that new things are happening that create a way for the sector to see better trading. For instance, legislators are working to pass better and more efficient reform.

With better rules and regulations it will help with how the cannabis industry is run. Beyond just reform many companies are working to establish a better footing in the cannabis industry. So more companies are working on developing partnerships to help create better products. The overall goal is to have the type of success that continues to push the industry in the right direction. Not just that when people see that progress is happening it intrigues them to find ways to invest.

Finding the best marijuana stocks to buy in today’s sector can be easier than before. In today’s cannabis sector, most of the top cannabis stocks are trading at lower levels. This makes it simpler to acquire shares at an entry level where taking profits can happen when a slight uptick occurs. Now make sure you create a trading plan. You need to do your research and investigate the companies you feel are worth investing in. The companies mentioned below are some top marijuana stocks to watch next month.

Top Marijuana Stocks To Watch Today

  1. Flora Growth Corp. (NASDAQ:FLGC)
  2. Gold Flora Corporation (OTC:GRAM)
  3. Medicine Man Technologies, Inc. (OTC:SHWZ)

Flora Growth Corp.

Flora Growth Corp. together with its subsidiaries, engages in the growth, cultivation, and development of medicinal cannabis and medicinal cannabis derivative products to pharmacies, medical clinics, and cosmetic companies worldwide. In recent news, the company announced pricing of $2.7 Million registered direct offering and concurrent private placement.

The company has entered into securities purchase agreements with institutional investors. Which is for the purchase and sale of 1,369,000 of the Company’s common shares. The combined purchase price for one Common Share and one Warrant will be $2.00. The Warrants will have an exercise price of $2.50 per Common Share and will be exercisable six months following the date of issuance. This will expire five and one-half years from the initial date of issuance.

Gold Flora Corporation

Gold Flora Corporation engages in the cultivation, manufacturing, extraction, distribution, and retailing of cannabis products in California. It offers disposable vape pens and gold flora flowers. The company was founded in 2017 and is based in Costa Mesa, California.  Gold Flora

On September 25th the company announced a post-merger of 30$ million in annualized cost savings. The company has successfully completed the first phase of its cost-saving initiatives. Which is set to maximize operating efficiencies and drive the company to sustainable positive free cash flow.

[Read More] The Best 3 Marijuana Stocks To Follow Today In The Stock Market

Words From Company

Laurie Holcomb, Chief Executive Officer of Gold Flora, commented, “This pivotal phase is instrumental in setting the stage for our future success. In just a short period since the merger, we have made significant strides, and I am profoundly proud of our team’s efforts in identifying and successfully implementing these vital changes.

Medicine Man Technologies, Inc.

Medicine Man Technologies, Inc. doing business as Schwazze, engages in the cultivation, manufacturing, distribution, and retail sale of cannabis and cannabis related products in Colorado and New Mexico.

It operates through Retail and Wholesale segments. Back on August 9th, the company reported its second quarter 2023 earnings.

[Read More] October Pot Stock Watchlist: Exploring Penny Stocks in the Cannabis Sector

Q2 2023 financial results

  • Total revenue in the second quarter of 2023 was $42.4 million compared to $44.3 million for the same quarter last year.
  • Gross profit for the second quarter of 2023 was $24.5 million or 57.9% of total revenue.
  • Operating expenses for the second quarter of 2023 were $19.6 million compared to $16.1 million for the same quarter last year.
  • Income from operations for the second quarter of 2023 was $5.0 million compared to $9.0 million in the same quarter last year.
  • Adjusted EBITDA for the second quarter of 2023 was $13.8 million or 32.6% of revenue.
  • As of June 30, 2023, cash and cash equivalents were $19.9 million compared to $38.9 million on December 31, 2022.

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