TCNNF - 2 Marijuana Stocks Top Buy This Monday 2023
2023-03-12 13:19:18 ET
2 Marijuana Stocks For This Weeks Watchlist
The cannabis industry and marijuana stocks are generally considered to be in the early stages of their progress. Many cannabis companies in this sector have turned big profits even with the current volatile behavior. A handful of marijuana companies have had to rely on significant funding from investors in order to grow their businesses and build out infrastructure. This positive speculation has led to more people looking for marijuana stocks to buy . In addition to better trading momentum depending on the time and day.
It’s also worth noting that the legal status of marijuana varies widely by region and country. Which can impact the financial performance of marijuana companies. In some regions where marijuana is legal, companies may face heavy taxes or regulatory hurdles that can limit their profitability. In other regions, marijuana companies may face legal challenges that limit their ability to operate. But overall there is a strong push in the right direction even through trial and error.
All around, the financial performance of marijuana stocks can be difficult to predict, as the cannabis industry is still developing and still has many hurdles to jump. It’s important to thoroughly research any marijuana stock you are considering investing in. As well as consulting with a financial advisor before making any investment decisions. The more due diligence that is done the better odds of seeing better profits. The companies below are several marijuana stocks to watch for cannabis investing in 2023.
Top Marijuana Stocks 2023
Trulieve Cannabis Corp.
Trulieve Cannabis Corp. together with its subsidiaries operates as a medical cannabis company. The company cultivates and produces products in-house and distributes its products to Trulieve branded stores (dispensaries) in Florida, as well as through home delivery. Recently the company announced the opening of a medical marijuana dispensary in Palatka, FL.
Words From The Company
“Trulieve is proud to expand access to medical cannabis in Florida by opening a new dispensary in Palatka,” said Trulieve’s Chief Executive Officer Kim Rivers. “We’re committed to being active in the communities we serve, as well as providing high-quality cannabis and exceptional customer experiences to our patients.”
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Green Thumb Industries Inc.
Green Thumb Industries Inc. engages in the manufacture, distribution, and sale of various cannabis products for medical and adult use in the United States. In recent news, the company reported its fourth quarter and full-year earnings.
Q4 Highlights
- Revenue of $259 million increased 6% year-over-year and decreased 1% sequentially.
- Cash flow from operations of $70 million.
- Cash at quarter end totaled $178 million.
- GAAP net loss of ($51 million) or ($0.22) per basic and diluted share.
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2022 Year Highlights
- Revenue of $1 billion increased 14% over the prior year.
- Cash flow from operations of $159 million.
- GAAP net income of $12 million or $0.05 per basic and diluted share.
- Adjusted net income of $75 million or adjusted basic and diluted earnings per share of $0.32, excluding non-cash impairment charges recognized in the fourth quarter.
- Adjusted Operating EBITDA of $311 million or 31% of revenue.