SNDL - Marijuana Stocks For Weekly Watch List 2023
2023-11-14 07:00:38 ET
Top Marijuana Stocks For Your Weekly Investing
Marijuana stocks could see better trading come this new year. The reason for this is due to a couple of variables. For one it is a new year and often times the excitement can lead to positive speculation creating a pick-up in trading. Also, companies are working on many new projects and business deals that would further develop the cannabis industry. Even though there is no federal reform in place companies have been producing some innovative products and services.
The more successful the legal market becomes the more it intrigues people to get invested. Legal cannabis has come a long way and is still fairly new as an emerging industry. Even with all the current progress, there is still more to be done. Many feel that once federal reform comes into play it will be the biggest turning point for cannabis. With cannabis being rescheduled it will allow for things to happen that were once prohibited due to federal regulators.
Not to mention it could also lower the amount of volatility and give investors more confidence. Right now is a time where those who find interest in investing see marijuana stocks as the investment of the future. That is why before 2024 begins people are getting prepared by looking for the best marijuana stocks to buy. With solid research and well well-thought-out game plan, this new year could yield better profits for investors. The companies below are several marijuana stocks to watch as 2024 approaches.
Marijuana Stocks To Watch Today 2023
- Tilray Brands, Inc. ( NASDAQ:TLRY )
- SNDL Inc. ( NASDAQ:SNDL )
- Cronos Group Inc. ( NASDAQ:CRON )
Tilray Brands, Inc.
Tilray Brands, Inc. engages in the research, cultivation, processing, and distribution of medical cannabis products in Canada, the United States, Europe, Australia, New Zealand, Latin America, and internationally.
In recent news the company announced its best-selling Canadian cannabis brand, Good Supply™, just unveiled a new seasonal campaign, ‘Get Blitzen’d’. Amplifying the festive cheer, Good Supply introduces its first-ever limited-edition ‘Holiday Helpers’ 36-pack of pre-rolls and ‘The Grump’ – a special holiday offering of the acclaimed MONSTERS™ 1,000mg infused pre-roll.
[Read More] 3 Marijuana Stocks To Watch Mid-November 2023
SNDL Inc.
SNDL Inc. engages in the production, distribution, and sale of cannabis products in Canada. On November 13th the company announced the renewal of the share repurchase program.
The Share Repurchase Program authorizes the Company to repurchase up to C$100 million of its outstanding common shares from time to time at prevailing market prices. This would enable SNDL to opportunistically return value to shareholders.
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 brand in the United States. Recently the company reported its Q3 financials.
Third Quarter 2023
- Net revenue of $24.8 million in Q3 2023 increased by $4.4 million from Q3 2022.
- Gross profit of $4.0 million in Q3 2023 increased by $0.8 million from Q3 2022.
- Adjusted EBITDA of $(15.2) million in Q3 2023 improved by $3.3 million from Q3 2022.
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Words From The Company
“By most financial metrics, Q3 2023 was one of the best quarters in Cronos history,” said Mike Gorenstein, Chairman, President and CEO, Cronos. “We achieved our highest net revenue for continuing operations on record at $24.8 million, up 22% year-over-year. The top-line was propelled by 40% growth year-over-year in Canada, driven by strength in pre-rolls, flower and edibles. This robust success in Canada was driven primarily by innovations in our Spinach® brand, and with the Lord Jones® brand now also on the market, we are excited about having a broader portfolio of unique and differentiated products to address consumer needs.