SNDL - 2 Marijuana Stocks To Watch In Todays Stock Market 2023
The Best Marijuana Stocks To Invest In Right Now
Marijuana stocks have seen their fair share of ups and downs over the years. As cliche as that sounds the level of volatility is slowly growing and changing how investors take profits. At one time when the cannabis sector would see a pullback, it would also see a strong recovery. As of late, this has not been the case marijuana stocks are not able to recover in the same way. This has added a layer of doubt and caution when it comes to investing in pot stocks.
Still, with more to be done in the cannabis industry there may be chances to see better investment opportunities. The cannabis industry is progressing and evolving day by day and the more it does the more optimism that occurs. The lack of federal regulations that allow for better legislation also plays a part in the level of volatility.
Just make sure if you are looking for marijuana stocks to buy to do your research beforehand. As well as keep an eye on the sector for any changes that may occur inside a volatile market. The companies below are several marijuana stocks to watch heading into march.
Marijuana Stocks To Watch In 2023
- SNDL Inc. ( NASDAQ:SNDL )
- Cronos Group Inc. ( NASDAQ:CRON )
SNDL Inc.
SNDL Inc. in the production, distribution, and sale of cannabis products in Canada. The company operates through Cannabis Operations and Retail Operations segments. In recent news, the company announced cost-saving measures and rightsizing of cannabis operations at the Alberta facility.
The company expects to report record net revenue and net cash provided by operating activities for the fourth quarter of 2022. The Valens Company Inc. (“Valens”) transaction has accelerated the need to optimize and rationalize SNDL’s manufacturing and operational footprint to better address market saturation and oversupply.
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Words From The Company
“We have made the difficult decision to materially reduce staffing and activity levels in Olds, Alberta, in order to improve the efficiency of our operations as one of Canada’s largest adult-use cannabis manufacturers,” said Zach George, Chief Executive Officer of SNDL. “With the Olds facility already in operation when I joined SNDL, I am proud of the cultivation capabilities and high-quality flowers that our teams have developed and produced. We estimate that more than 1 billion grams of flowers are sitting in Canadian vaults today.
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Cronos Group Inc.
Cronos Group Inc. operates as a cannabinoid company. It manufactures, markets, and distributes hemp-derived supplements. Also cosmetic products through e-commerce, retail, and hospitality partner channels under the Lord Jones and Happy Dance brands in the United States.
Back in February, the company announced it will hold a conference call to discuss its 2022 Q4 and full-year earnings on February 28th. Cronos’ senior management team will discuss the company’s financial results. As well will be available for questions from the investment community after prepared remarks.