GRWG - 3 Marijuana Stocks To Buy Mid-January 2024
2024-01-18 04:30:06 ET
Here Are Top Marijuana Stocks Investors Have Their Eyes On
Marijuana stocks have already begun to see an increase in momentum. Much of this has to do with various factors including cannabis reform and politics. To start 2024 is an election year so this means big promises for legal cannabis. However, often advocates and business owners hear the promise of passing federal reform but see little to no follow-through. Yet that still does not stop the positive impact that it has on the cannabis sector.
When there is positive news on reform it usually results in better trading. So with 2024 just starting there will be a big push to pass federal reform once again and multiple chances to do so. Hopefully, it gets passed so marijuana stocks see less volatility. Many cannabis stocks are currently plagued by market volatility. Much of which is caused by fear doubt and the lack of comprehensive reform. Legal cannabis has grown into a profitable industry only few could have imagined.
Even with all the hurdles and political turmoil, people are still looking for the best marijuana stocks to buy. This year could be just like every other year’s big build-up for an even bigger letdown in regard to federal reform. Nonetheless, it will pass one day if not this year which is what investors and legal operators are hoping for. The companies below are some marijuana stocks to watch for better trading options this week.
Top Marijuana Stocks To Watch Today
- GrowGeneration Corp. ( NASDAQ:GRWG )
- The Scotts Miracle-Gro Company ( NYSE:SMG )
- Hydrofarm Holdings Group, Inc. ( NASDAQ:HYFM )
GrowGeneration Corp.
GrowGeneration Corp., through its subsidiaries, owns and operates retail hydroponic and organic gardening stores in the United States.
In recent news, the company provided a full-year 2023 guidance update. This info was given ahead of the 26th annual ICR conference.
[Read More] Can Marijuana Stocks Rise From Federal Reform Passing
Highlights And Key Mentions
- Revenue Expected to be at the Top-end of Previously Guided $220 million to $225 million Range
- Adjusted EBITDA 1 Guidance Remains Unchanged; Between a Loss of $4 million to $6 million
The Scotts Miracle-Gro Company
The Scotts Miracle-Gro Company, together with its subsidiaries, manufactures, markets, and sells products for lawn, garden care, and indoor and hydroponic gardening in the United States and internationally.
At the end of November, the company announced it would hold a fireside chat with Raymond James.
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Hydrofarm Holdings Group, Inc.
Hydrofarm Holdings Group, Inc., together with its subsidiaries, engages in the manufacture and distribution of controlled environment agriculture (CEA) equipment and supplies in the United States and Canada.
At the start of January, the company announced its participation in the 2024 IRC Conference in Orlando Florida. The company took part in this event back on January 8th.
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