GLASF - 3 Marijuana Stocks For Your April Watchlist
2023-04-04 07:00:26 ET
3 Top Marijuana Stocks Investors Are Watching
When trying to find the best marijuana stocks to buy most seasoned investors have a process. For instance, most investors with experience tend to have a system that puts them in a position to see the best chances of making money. This consists of thorough due diligence a strong watchlist and an eye on the sector. With marijuana stocks, things can change without warning, and when it changes for the better you need to be able to strike.
The level of volatile trading leads to seeing rapid recoveries and heavy pullback. Now when there’s a pullback it’s a buying opportunity and when volatility leads to a recovery that’s when it’s time to take profits most times. In the cannabis sector when there is a rise in trading happens for such a short time it can be tough to take profits if you miss it. Currently, most people who are invested find that marijuana stocks are more of a buy-and-hold deal.
At one time it was not like that and some feel with better laws and regulations the sector may trade with better upward consistency. As trading continues companies are working to give more reasons to trade and invest in the cannabis sector. Hopefully, when federal reform is finally made law this will be the first step in seeing better all-around trading for pot stocks. The companies below are several marijuana stocks to watch for better trading momentum in 2023.
Marijuana Stocks To Watch 2023
- Green Thumb Industries Inc. ( OTC:GTBIF )
- Cresco Labs Inc. ( OTC:CRLBF )
- Glass House Brands Inc. ( OTC:GLASF )
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 announced it hold a Q1 2023 earnings conference call on May 3rd. The company will release the first quarter 2023 financial results after the market closes on Wednesday, May 3, 2023.
Cresco Labs Inc.
Cresco Labs Inc. together with its subsidiaries, cultivates, manufactures, and sells retail and medical cannabis products in the United States. Recently the company reported its Q4 and full-year 2022 results.
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Fiscal Year 2022 Financial Highlights
- Record revenue of $843 million, an increase of 3% year-over-year; excluding California distribution operations exited in 2021, adjusted revenues grew 6% year-over-year.
- Record branded unit volume of 61 million, up 37% year-over-year2.
- Record retail transactions of 4.6 million, up 15% year-over-year.
- Adjusted gross profit1 of $418 million, or 50% of revenue.
- Adjusted EBITDA1 of $174 million, or 21% of revenue.
- Net loss of $215 million for the full year included $141 million of one-time impairment charges.
- Generated positive operating cash flow of $19 million for the full year and ended the year with $122 million of cash, cash equivalents, and restricted cash.
Q4 2022 Financial Highlights
- Fourth quarter revenue of $200 million, down 8% year-over-year.
- Branded unit volume of 17 million, up 24% year-over-year2.
- Retail transactions of 1.2 million, up 4% year-over-over.
- Growth from increased unit sales and retail transactions was offset by price compression across the industry.
- Adjusted gross profit1 of $90 million, or 45% of revenue.
- Fourth quarter adjusted EBITDA1 of $31 million, or 15% of revenue.
Glass House Brands Inc.
Glass House Brands Inc. cultivates, manufactures, retails, and distributes raw cannabis, cannabis oil, and cannabis consumer goods to wholesalers and consumer packaged goods retail stores. On March 13th the company reported its fourth quarter and full-year 2022 financial results.
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Fourth Quarter 2022 Highlights
- Net Sales of $32.2 million increased 75% from $18.4 million in Q4 2021 and 14% sequentially from $28.3 million in Q3 2022.
- Gross Profit was $10.2 million compared to $(0.4) million in Q4 2021 and $8.7 million in Q3 2022.
- Gross Margin was 32%, compared to (2)% in Q4 2021 and gross margin of 31% in Q3 2022.
- Adjusted EBITDA4 was $(2.6) million, compared to $(9.1) million in Q4 2021 and $(2.7) million in Q3 2022.