GRAM - Here Are 3 Marijuana Stocks For You Today
2024-06-12 09:25:16 ET
Top Marijuana Stocks Pics For Potential Gains
Investing in marijuana stocks can be a challenge for some. Yet for seasoned investors, it’s been more of a task learning how to trade in a volatile sector. Many factors can impact how one more many cannabis stocks perform. For instance, there is a heavy amount of speculation due to reform measures surrounding the cannabis industry. So this is where many would find top marijuana stocks to buy sell or hold.
When a company reports bad news or earnings it can impact how it trades. But with speculation comes the idea that similar cannabis companies will have the same fate so they begin to trade down. If one falls they all fall if they are in the same industry and niche. Yet this is not always the case but it does occur with speculative trading.
On the other hand with the politics surrounding the industry, some pot stocks are seeing better trading. At this time people should keep a watchful eye on the sector and work on their investment strategies. When you have a trading plan and an idea of what may occur you better prepare yourself. The more you know the better odds at seeing bigger profits or just mitigating as much risk as possible. Below are several marijuana stocks to watch in 2024.
Top Marijuana Stocks For Your 2024 Portfolio
Planet 13 Holdings Inc. ( OTC:PLHN )
Gold Flora Corporation ( OTC:GRAM )
Glass House Brands Inc. ( OTC:GLASF )
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. In recent news, the company announced the results of its yearly general meeting.
The following table sets out the percentage of shares of common stock voted regarding the election of directors.
Nominee % For% Withheld
Robert Groesbeck 98.63%-1.37%
Larry Scheffler 98.54%-1.46%
Lee Fraser 97.31%-2.69%
Adrienne O’Neal 98.99%-1.01%
Kevin Martin 99.33%-0.67%
[Read More] Investing in Ancillary Cannabis: Top Stocks for June 2024
Gold Flora Corporation
Gold Flora Corporation engages in the cultivation, manufacturing, distribution, and retailing of cannabis products in the United States. On May 15th the company reported its Q1 2024 earnings.
Q1 2024 Financial Highlights
- Total revenue was $32.2 million, representing a 13% sequential growth.
- Q1 2024 gross profit was $10.0 Million, representing a 31% gross margin;
- Q1 2024 adjusted gross profit of $17.4 million, representing a 54% adjusted gross margin.
- Net quarterly loss of $13.7 million;
- Adjusted EBITDA1 of $(1.8) million for Q1 2024.
- Cash and cash equivalents totaled $14.2 million as of March 31, 2024.
[Read More] Top Marijuana Stocks For Better Trading This Week
Glass House Brands Inc.
Glass House Brands Inc., together with its subsidiaries, operates as an integrated cannabis company in the United States. On June 6th the company announced the resignation of board member Jamie Mendola. This was due to the time requirements of his increasing professional commitments.
Words From The Company
“On behalf of the Board and the entire team, I want to thank Jamie for his service and contributions to Glass House Brands,” said Kyle Kazan, Co-Founder, Chairman and CEO of Glass House. “As the Co-Founder and Head of Strategy and M&A at Mercer Park Brand Acquisition Corporation, Jamie played a pivotal role in the investment and due diligence efforts which culminated in Mercer Park and Glass House Brands coming together.”