TCNNF - 3 Marijuana Stock For Your 2024 Watch List This Month
2024-05-18 08:24:34 ET
Marijuana Stocks Rise After Biden Campaign Cannabis Reform
The future of the cannabis industry will shape how marijuana stock investors move forward. There is much going on in the world of investing throughout all sectors. However, the cannabis sector has been one that continues to flourish in various forms. For instance, more companies are focusing on the long term and working to keep up with consumer demand. Over the last several years the increase for more cannabis products has skyrocketed.
This also leads to higher-quality cannabis and various ancillary products as well. With more output from cannabis companies people have been watching for victorious outcomes. Yet when dealing with legal cannabis things are not that simple. There is much red tape followed by fractions of grey areas where the sector truly thrives. currently, cannabis is still federally illegal. But this has not stopped people from finding ways to invest.
This is where searching for the best marijuana stocks to buy begins. By learning about the sector and how cannabis stocks perform you can create a more efficient trading strategy. Many publicly traded cannabis companies trade in a volatile space with patterns that can be tough to track at times. That is why a strategy that accounts for a potential change in the market is also crucial. Below are several marijuana stocks to watch for the rest of the month.
Top Marijuana Stocks To Watch Today
Trulieve Cannabis Corp.
Trulieve Cannabis Corp., together with its subsidiaries, operates as a cannabis retailer. The company cultivates, processes, and manufactures cannabis products and distributes its products to its dispensaries, as well as through home delivery.
In recent news, the company is opening a new location in Stuart Florida.
A grand opening celebration will be held Friday, May 17, beginning at 9 a.m., featuring music, specials, discounts, and opportunities to register for upcoming patient education sessions.
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Words From The Company
“This new dispensary expands access to medical cannabis in Martin County and along Florida’s Treasure Coast,” said Trulieve’s Chief Executive Officer Kim Rivers. “We are proud to serve patients with Trulieve branded products through elevated customer experiences.”
Green Thumb Industries Inc.
Green Thumb Industries Inc. manufactures, distributes, markets, and sells cannabis products for medical and adult use in the United States. In recent news, the company reported its first quarter 2024 results.
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Highlights for the first quarter ended March 31, 2024
- First quarter revenue of $276 million increased 11% over the prior year period.
- Cash at quarter end of $224 million.
- GAAP net income for the first quarter of $31 million or $0.13 per basic and diluted share increased 240% year-over-year.
- Adjusted EBITDA of $91 million or 33% of revenue increased 19% over the prior year period.
- Cash flow from operations of $84 million increased 12% compared to Q1 2023.
- Purchased 1,067,000 Subordinate Voting Shares (“Shares”) for a total of $13.6 million.