SMG - Marijuana Stocks To Watch 3 Popular Cannabis Companies
2024-04-10 09:24:55 ET
Top Marijuana Stock Picks For Cannabis Investors 2024
Marijuana stock investors have been able to see better trading over the last several months. Much of this is due to speculation of what is to happen in the cannabis industry. Currently, more than 50% of America has legalized cannabis. Even though marijuana is still federally illegal states are reaching revenues in the billions. This is just the start as regulations and laws continue to shift as investors hope to see a stronger sector.
For some time cannabis stocks have been one of if not the most volatile sectors to invest in. The reason for this is due to no federal reform and the need for better regulations. Exceeding other global markets, the US is a place where each state dictates there own market. The progress and success of each cannabis company in these states can have a direct impact on how it performs in the open market. As well as other marijuana stocks as well.
That is why you need a good strategy when looking for the best marijuana stocks to buy. If you have good information on the and have done thorough research you could see good profits. Now nothing is a sure thing as anything can happen. That is why prepping and understanding the sector is key. Below are several marijuana stocks to watch as trading continues in April.
Top Marijuana For Your April Watchlist
- GrowGeneration Corp. ( NASDAQ:GRWG )
- The Scotts Miracle-Gro Company ( NYSE:SMG )
- Agrify Corporation ( NASDAQ:AFGY )
GrowGeneration Corp.
GrowGeneration Corp., through its subsidiaries, owns and operates retail hydroponic and organic gardening stores in the United States. In recent news, the company announced it has authorized the company’s first share repurchase program.
The intent is to repurchase up to $6 million of GrowGen’s outstanding common stock. So the share repurchase program will begin on April 1. This will continue for up to one year, which allows for repurchases to be made in the open market.
Words From The Company
Darren Lampert, GrowGeneration’s Co-Founder and Chief Executive Officer, stated, “Today’s announcement of our share repurchase program further underscores our conviction in the strength of our underlying business and our view that GrowGen shares remain undervalued. This program acts as one pillar of our shareholder value creation strategy as we continue to evaluate all potential uses for our strong balance sheet, including reinvesting in our brands, strategic acquisitions, and stock repurchases to enhance long-term shareholder value.”
The Scotts Miracle-Gro Company
The Scotts Miracle-Gro Company, together with its subsidiaries, manufactures, markets, and sells products for lawn, garden care, and indoor and hydroponic gardening in the United States and internationally.
On April 4th the company released an update on its fiscal 2024 second quarter. The Company will provide a detailed second-quarter earnings report on May 1.
Words From The CEO
“We continue to make real progress in improving the financial and operating performance of ScottsMiracle-Gro,” said Jim Hagedorn, chairman, CEO, and president. “Net leverage not only will be comfortably below the second-quarter maximum and better than Q1, but it also will be a less critical metric going forward as debt reduction and covenant compliance are manageable.
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Agrify Corporation
Agrify Corporation develops precision hardware and software cultivation and extraction solutions for the cannabis and hemp industry in the United States.
At the end of March, the company announces a Turnkey Hydrocarbon Extraction and equipment contract. This deal is being done with Connecticut-based company New England Edibles, dba SoundView.
Words From Agrify Corporation CEO
Raymond Chang, Chairman and CEO of Agrify, shared “We are pleased that Agrify’s expansive portfolio of products allows for our customers to enter new cannabis markets at various scales.
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Words From Soundview CEO
Nick Cimadon, CEO at SoundView said “We at SoundView are extremely excited to be utilizing Precision Extraction’s Hydrocarbon Extraction Equipment Package to process and manufacture cannabis products to sell as wholesalers to retailers in the CT market. Agrify is the ONE partner you need.