JUSHF - 2 Marijuana Stocks To Watch In Todays Cannabis Sector
2023-05-21 11:10:33 ET
Looking To Invest In Cannabis? 2 Marijuana Stocks To Watch
marijuana stock investors are remaining patient as they await to take profits. Over the last several weeks there has been an increase in momentum. Much of this has to do with various catalysis going on in the cannabis sector. To start there is a continued push to establish some type of federal cannabis reform. Most recently the SAFE Banking Act was reintroduced. If cannabis banking becomes law it will change how the cannabis industry handles its money.
When news on the matter surfaced it led to a rise in the sector. Not just that more companies are starting to report their earnings which has also brought in some momentum for the sector. Still, with almost half of 2023 gone and more to be done for the industry, more investment opportunities do exist. At the moment it’s about time and preparation for the future. For example, the more time that passes the more companies and the sector as a whole will evolve and grow.
This will give more people interested in finding the best marijuana stocks to buy and a chance to prepare. Having a game plan in preparation for the future is important. Especially with how volatile the sector can be. Nevertheless, with a new week ahead there could be a chance to take profits. Just make sure you do your research and create a trading plan that allows you to adapt to market changes. The companies below are a few marijuana stocks to watch for possible better trading momentum.
Marijuana Stocks To Watch 2023
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.
It focuses on building a portfolio of cannabis assets in various jurisdictions around the United States. In recent news, the company reported its Q1 2023 earnings.
First Quarter 2023 Financial Highlights
- Total revenue of $69.9 million, an increase of 12.9% year-over-year
- Gross profit margin was 42.9% of revenue, compared to 30.9% in Q1 2022 and 28.6% in Q4 2022
- Net loss of $12.4 million, an improvement of $7.3 million year-over-year
- Adjusted EBITDA1 of $7.6 million, an improvement of $8.5 million year-over-year and $1.6 million sequentially
- Cash, cash equivalents, and restricted cash of $19.4 million as of quarter end
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TerrAscend Corp.
TerrAscend Corp. cultivates, processes, and sells medical and adult-use cannabis in Canada and the United States. The company produces and distributes hemp-derived wellness products to retail locations; and manufactures cannabis-infused artisan edibles. It also operates retail dispensaries under the Apothecarium brand name in California, Pennsylvania, and New Jersey.
On May 19th the company announced its subsidiary, Gage Cannabis Co. has launched Legend, a cannabis brand providing consumers with top-quality flower. Legend aims to preserve the simplicity of cannabis and all that it has to offer with good strains, grown right, at a great price.
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Words From The Company
“We’re excited to bring Legend’s exceptional cannabis at affordable everyday prices to the second-largest cannabis market in the U.S.,” said Jason Wild, Executive Chairman of TerrAscend. “We’re committed to exceeding market expectations by providing a wide selection of products, and Legend always offers great strains and great times at the right price.”