2 Marijuana Stocks To Keep On Your Radar 2023
Marijuana stocks have started to regain some of their lost momentum. Over the last week or so the increase in up and down trading has been both good and frustrating. The frustrating part is not being to take profits when there is a fast pop in trading. Or missing the chance to find top marijuana stocks to buy when there’s some pullback. Now the positive part would be the opposite being able to take profits when there is a recovery in the sector.
When looking for marijuana stocks to add to your portfolio it’s always best to create a strategy. By having a game plan and doing research on the companies you feel are worth taking a risk on you may see better gains than other investors. Not everyone who is trading in the stock market today feels the cannabis sector is worth the gamble. This is mainly due to how unpredictable marijuana stocks can be so this leads to more fear.
Still, the cannabis industry overall is thriving and progressing at a fast pace. Many feel now is the time to invest in marijuana stocks especially before federal reform is put into place. Once cannabis prohibtion is no more in the US investors feel this could potentially lead to the sector seeing a sustained rise in trading. The companies below are a few marijuana stocks to watch heading into next week.
Top Marijuana Stocks To Watch Next Year
Innovative Industrial Properties, Inc. (NYSE:IIPR)
Village Farms International, Inc. (NASDAQ:VFF)
Innovative Industrial Properties, Inc.
Innovative Industrial Properties, Inc. is a self-advised Maryland corporation focused on the acquisition, ownership, and management of specialized properties leased to experienced, state-licensed operators for their regulated medical-use cannabis facilities. In recent news, the company has released its Q3 2022 earnings. 
2022 Q3 Highlights And Key Mentions
- Generated total revenues of approximately $70.9 million in the quarter, representing a 32% increase from the prior year’s quarter.
- Recorded net income attributable to common stockholders of approximately $37.3 million for the quarter, or $1.32 per diluted share, and AFFO of approximately $60.1 million, or $2.13 per diluted share.
- Paid a quarterly dividend of $1.80 per common share on October 14, 2022, to stockholders of record as of September 30, 2022, equal to an annualized dividend of $7.20 per share. The common stock dividends declared for the twelve months ended September 30, 2022, of $6.80 per common share represent an increase of $1.34, or 25%, over dividends declared for the twelve months ended September 30, 2021.
- Acquired a Massachusetts industrial property, fully built out and operational as a regulated cannabis cultivation and processing facility, in a sale-leaseback transaction with a subsidiary of Curaleaf Holdings, Inc. for $21.5 million (approximately $207 per square foot).
- Subsequent to quarter-end, sold a Pennsylvania industrial property leased to a subsidiary of Maitri Holdings, LLC for $23.5 million (approximately $461 per square foot).
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Village Farms International, Inc.
Village Farms International, Inc. together with its subsidiaries, produces, markets, and distributes greenhouse-grown tomatoes. As well as bell peppers, and cucumbers in North America. It operates through four segments: Produce, Cannabis-Canada, Cannabis-U.S., and Energy. This past week the company reported its third-quarter 2022 financial results.
Q3 Highlights
- Consolidated sales were $71.1 million, a decrease of (2)% from $72.4 million; on a constant currency basis, consolidated sales were essentially unchanged from the previous year;
- Consolidated net loss was ($8.7 million), or ($0.10) per share compared with net income of $0.8 million), or $0.01 per share;
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- Consolidated adjusted EBITDA was negative ($2.2 million) compared with positive adjusted EBITDA of $6.9 million.
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