GLASF - 3 Marijuana Stocks To Watch This Week In July
2024-07-03 12:59:32 ET
Top Cannabis Stocks For Investors Today
As of mid-2024, investing in marijuana stocks appears promising for heading into 2025 due to several reasons. The cannabis industry continues its rapid development. Much of which is fueled by increasing legalization efforts globally. In addition to the further acceptance of cannabis products beyond traditional forms like dried flower.
Right now the biggest concern is federal reform and regulatory issues. All of which have shown to be leaning in the favor of legal operators. All this does is ease the worry of investors and operators that any uncertainty or shutdowns will occur. Yet with all the success both in and out of the stock market, there is more of an interest in finding a way to invest in legal cannabis .
If you are on the hunt for top marijuana stocks to buy here are some things to remember. First, you want to do your homework and learn about the different companies and sectors. Also, follow how they trade and react in the sector. You should also try to create a trading strategy that works for your trading style. Most pot stocks are volatile and trade up or down without warning. That is also why having an eye on the sector at certain times can be profitable if you can catch the uptick. Below are some marijuana stocks to watch heading into July.
Top Marijuana Stocks To Watch 2024
Glass House Brands Inc.
Glass House Brands Inc., together with its subsidiaries, operates as an integrated cannabis company in the United States. The company operates in three segments: Retail; Wholesale Biomass; and Cannabis-Related Consumer Packaged Goods.
In recent news, the company announced its voting results following the annual general and special meeting. At the Meeting, all seven nominees for the board of directors of the Company were elected, the voting results of which are as follows:
Director Number of Shares(1)
For Withheld/Abstain
Kyle Kazan 112,809,884 (99.85 %) 174,886 (0.15 %)
Graham Farrar 112,837,474 (99.87 %) 147,296 (0.13 %)
John Nichols Jr. 112,962,867 (99.98 %) 21,903 (0.02 %)
Humble Lukanga 112,920,109 (99.94 %) 64,661 (0.06 %)
Jocelyn Rosenwald 112,787,102 (99.83 %) 197,668 (0.17 %)
George Raveling 112,941,726 (99.96 %) 43,044 (0.04 %)
Yelena Katchko 112,947,478 (99.97 %) 37,292 (0.03 %)
[Read More] 3 Top Marijuana Stocks For Cannabis Investing In July
Cansortium Inc.
Cansortium Inc., through its subsidiaries, produces and sells medical cannabis in Florida, Pennsylvania, and Texas. In recent news, the company reported its first quarter 2024 results.
Q1 2024 Highlights
- Revenue increased 14% to $25.2 million compared to $22.1 million.
- Florida revenue increased 16% to $21.1 million compared to $18.2 million.
- Adjusted gross profit1 was $12.3 million or 48.6% of revenue, compared to $10.2 million or 46.4% of revenue.
- Adjusted EBITDA was $6.8 million compared to $5.8 million, with the increase primarily driven by higher sales in Florida.
- Cash flow from operations for the three months ended March 31, 2024 was $4.1 million compared to $5.1 million in the prior year.
- At March 31, 2024, the Company had approximately $8.5 million of cash and cash equivalents and $62.9 million of total debt, with approximately 300 million shares outstanding.
[Read More] Top Ancillary Cannabis Stocks Poised for Growth in July 2024
Ayr Wellness Inc.
Ayr Wellness Inc. operates as a vertically integrated multi-state cannabis operator that cultivates, manufactures, and retails cannabis products and branded cannabis packaged goods. In recent news, the company announced it will hold its Q2 2024 conference call on August 7th.
This call is set for 8:00 am. AYR President & CEO David Goubert and CFO Brad Asher will host the conference call, followed by a question-and-answer period. The Company will provide its financial results in a press release before the call.