IMCC - 3 Marijuana Stocks To Day Trade On Good Momentum
2023-03-09 10:14:36 ET
Top Marijuana Stocks For Cannabis Investing In March
Marijuana stock investors are waiting patiently for some of this volatile trading to simmer down. This month there is an increase in up and down trading due to various factors. For starters, companies will begin to report earnings this month so it’s possible the speculation is creating a continued volatile pattern. Still, this can be an opportune time to find marijuana stocks to buy. When it comes to investing you want to prepare yourself the best way you can.
You can find good entry points and set yourself up for when there is a rise in trading which is how taking profits works. Also prior to just taking up a position you want to do your research on the cannabis stocks you feel are worth buying. Check to see how successful the company is out of the market. Also, you want to look up any current or new ventures and most recent earnings.
Most times when a company is progressive as a business are the first to see the strongest recovery. Even with the sector seeing small windows where better trading does occur. Nevertheless with no federal reform in place, there is still a chance to take advantage of this volatile sector. If your looking for the best companies for cannabis investing below are several marijuana stocks to watch this month.
Top Marijuana Stocks For Your 2023 Watchlist
- IM Cannabis Corp. ( NASDAQ:IMCC )
- Cronos Group Inc. ( NASDAQ:CRON )
- High Tide Inc. ( NASDAQ:HITI )
IM Cannabis Corp.
IM Cannabis Corp. engages in the breeding, growing, and supply of medical cannabis products in Israel, Germany, and Canada. In recent news, the company announced additional restructuring initiatives designed to drive sustainable profitability. In addition to reducing costs.
To achieve this goal, the Company will be reducing its workforce in Israel by 20%-25% across all functions. All actions associated with the workforce reduction are expected to be substantially complete by mid-2023, subject to applicable Israeli law.
Words From The Company
“The restructuring initiatives announced today to follow our departure from the Canadian cannabis market to focus our resources on growth opportunities in Israel, Germany, and Europe. It further reflects our determination to continue with our strategic plan by maximizing efficiencies to create a leaner and more flexible organization to better suit the current market environment and our short- to mid-term objectives” says Oren Shuster, CEO of IM Cannabis.
Cronos Group Inc.
Cronos Group Inc. operates as a cannabinoid company. It manufactures, markets, and distributes hemp-derived supplements and cosmetic products through e-commerce, retail, and hospitality partner channels under the Lord Jones and Happy Dance brands in the United States. During th4 first week of March, the company released its 2022 Q4 and full-year results.
Fourth Quarter 2022
- Net revenue of $22.9 million in Q4 2022 decreased by $2.9 million from Q4 2021.
- Gross profit of $(0.2) million in Q4 2022 declined by $2.2 million from Q4 2021.
- Adjusted EBITDA of $(21.2) million in Q4 2022 improved by $6.1 million from Q4 2021.
[Read More] 3 Marijuana Stocks To Keep On Your 2023 Watchlist
Full-Year 2022
- Net revenue of $91.9 million in Full-Year 2022 increased by $17.5 million from Full-Year 2021.
- Gross profit of $12.0 million in Full-Year 2022 improved by $29.5 million from Full-Year 2021.
- Adjusted EBITDA of $(80.6) million in Full-Year 2022 improved by $79.9 million from Full-Year 2021.
[Read More] Top US Cannabis Stocks To Buy? 2 To Watch This Week
High Tide Inc.
High Tide Inc. engages in the cannabis retail business in Canada, Europe, the United States, and internationally. The company manufactures and distributes smoking accessories and cannabis lifestyle products. In the most recent news, the company will be reporting its Q1 2023 earnings.
So the company will release its financial and operational results for the quarter that ended on January 31, 2023. This will happen after financial markets close on Friday, March 17, 2023. High Tide’s first quarter 2023 financial and operational results will be available on SEDAR, EDGAR, and on the Company’s website at https://hightideinc.com/invest.