GLASF - 3 Marijuana Stocks To Buy In Todays Stock Market 2023?
2023-03-21 07:00:14 ET
3 Marijuana Stocks To Watch Before April
Marijuana stocks are still seeing the impact of the volatile trading. Much of this is due to the unknown of what the future holds for the cannabis industry. Still, some feel once a better legal structure enters the scene trading will recover with better consistency. For some time there has been a void in the time a marijuana stock recovers. Specifically, when marijuana stocks see a rise in trading it is very quick. This creates a situation where it becomes tough to take profits.
Even though some traders have been able to profit from a volatile market. Nevertheless, the game has changed to a long-term play versus a short-term game as it once was. The industry is still young and progressing and ever new legal market prompts a chance for stronger growth and business. For those who are actively looking to get into cannabis investing in 2023, the better a company does as a business the more intrigued people become. This is where a volatile market is beneficial when looking for marijuana stocks to buy .
When there is a pullback or any type of decline keeping an eye on the right cannabis stocks is keen. Especially those who normally trade better than others. Like always make sure you do your homework and homework so you feel confident about your investment. Also, create a game plan that allows you to see the best odds at taking profits while being able to adapt to any sudden market changes. The companies below are 3 marijuana stocks to watch in today’s market.
Top Marijuana Stocks To Watch 2023
- Greenlane Holdings, Inc. ( NASDAQ:GNLN )
- Charlotte’s Web Holdings, Inc. ( OTC:CWBHF )
- Glass House Brands Inc. ( OTC:GLASF )
Greenlane Holdings, Inc.
Greenlane Holdings, Inc. develops and distributes cannabis accessories, child-resistant packaging, vape solutions, and lifestyle products in the United States, Canada, and Europe. It operates through two segments, Consumer Goods and Industrial Goods. In recent news, the company is to receive more than $4.8 million in Employee retention credit. As well as jointly reduce more than $6.4 million of existing debt.
Greenlane is pleased to announce the influx of non-dilutive capital, as well as the corresponding voluntary paydown of its existing debt. Greenlane continues to focus on its transition to a consumer business model with an emphasis on higher-margin-owned brands.
Words From The Company
“Today’s announcement allows us to reduce our debt and provide capital for the innovative products that will continue to come from Greenlane throughout the year,” said Craig Snyder, CEO of Greenlane. “It is also a key step forward in structuring the business on its path to profitability.”
Charlotte’s Web Holdings, Inc.
Charlotte’s Web Holdings, Inc. engages in farming, manufacturing, marketing, and selling hemp-derived cannabidiol (CBD) wellness products. On March 14th the company appointed Jonathan P. Atwood to its board of directors. Mr. Atwood brings extensive senior executive experience within the Consumer Packaged Goods (“CPG”).
This was in the industry with roles at British American Tobacco (“BAT”), Reynolds American, Unilever, and Kraft Foods. He is currently the Group Head of Business Communications for BAT and is responsible for BAT’s external, internal, and corporate brand communications. Mr. Atwood was designated as a Board nominee by BAT, in connection with their November purchase of convertible debenture in Charlotte’s Web, Inc.
[Read More] 3 Marijuana Stocks To Watch At The End Of March
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.
[Read More] Top Marijuana Stocks To Watch Before April
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.