CWBHF - 3 Marijuana Stocks To Watch To Add To Your List This Week
2024-04-21 07:56:11 ET
Here Is An Easy Way To Invest In Marijuana Stocks
Investing in marijuana stocks comes with certain variables. What this means is to be able to know which is better to invest in. At times it’s tough to base it off of market or company success due to how volatile the sector can be. Just the slightest bit of bad news can impact the momentum of the sector. Without any federal reform speculation and unpredictable trading patterns have hit the sector hard.
People can only gauge what public information or news they have. Then based on those results can determine a lot for the sector and the way a person looks for marijuana stocks to buy. Preparation is key as most things you want to be ready to either buy or sell when the time comes. The future of cannabis holds a lot more obstacles but overall we are in a good place. Even with certain issues in the industry from large taxes and quality concerns things are in a progressive space.
To be able to invest in legal cannabis and have over half of the USA and other global regions legalize cannabis is huge. What was once a taboo topic is now a multi-billion-dollar industry that is continuously evolving. So with more to be seen and done looking for top marijuana stocks to add to your portfolio could be a profitable move for you. Below we will discuss several cannabis stocks for trading this month.
3 Marijuana Stocks For Your 2024 Portfolio
- Planet 13 Holdings Inc ( OTC:PLNH )
- Cresco Labs Inc. ( OTC:CRLBF )
- Charlotte’s Web Holdings, Inc. ( OTC:CWBHF )
Planet 13 Holdings Inc.
Planet 13 Holdings Inc., together with its subsidiaries, cultivates and provides cannabis and cannabis-infused products for medical and retail cannabis markets in the United States. Recently the company announced the opening of DAZED! lounge at the world’s largest dispensary.
DAZED! is open at its flagship SuperStore in Las Vegas. The space is 3,000 square feet, with a high-end consumption lounge featuring VIP booths. Along with expertly crafted canna cocktails, and top-tier entertainment.
Cresco Labs Inc.
Cresco Labs Inc., together with its subsidiaries, cultivates, manufactures, and sells retail and medical cannabis products in the United States.
At the close of March, Cresco Labs released its Q4 and full-year 2023 financial results. Which demonstrated significant profitability and cash flow improvements.
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Fourth Quarter 2023 Highlights
- Fourth quarter revenue of $188 million, excluding the impact from strategic divestitures aimed to drive profitability, down 2% year-over-year.
- Gross profit of $96 million. Adjusted gross profit1 up 12% year-over-year to $100 million, or 53% of revenue, an 850 bps improvement.
- SG&A of $57 million. Removed $54 million in annualized Adjusted SG&A1, reducing Adjusted SG&A1 by 20% year-over-year to $55 million, or 29% of revenue.
- Fourth quarter net income of $5 million.
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Charlotte’s Web Holdings, Inc.
Charlotte’s Web Holdings, Inc. is involved in the farming, manufacture, marketing, and sale of hemp-derived cannabidiol (CBD) wellness products.
On March 24th the company reported its full year 2023 results. Even though EPS beat expectations its revenue was lagging.
Highlights And Keymentions
- Revenue: US$63.2m (down 15% from FY 2022).
- Net loss: US$23.8m (loss narrowed by 60% from FY 2022).
- US$0.002 loss per share (improved from US$0.41 loss in FY 2022).