LFLY - The Best Marijuana Stocks For You To Watch Today
2023-12-07 07:00:06 ET
3 Top Marijuana Stocks That Could Soon Recover
Even with the amount of progress the cannabis industry has seen investing in legal cannabis comes with big risks. As many know cannabis is now legal in more than 30 states in the US. This emerging industry has consistently generated over a billion in revenue. Not to mention it has employed many people who are looking for work. There seem to be more positives than negatives regarding legal cannabis so why is investing so risky?
Investing and running a business versus investing in let’s say marijuana stocks are 2 separate things. When you invest in a start-up or want to build your own company there are more challenges to overcome. Yet with publicly traded cannabis companies investing in them is a road less traveled. Despite these potential benefits, it’s crucial to be aware of the risks associated with investing in marijuana stocks . That is why the more research you do the better info you have to make smarter investment choices.
The cannabis sector is one that is unpredictable and trading patterns can change without warning. This volatile behavior has been both good and bad depending on the strategy. Overall there is a fair amount of optimism for those looking to invest in cannabis. Especially with a new year set to begin. The companies below are just some marijuana stocks to watch if you are searching for more ways to invest in legal cannabis.
Marijuana Stocks To Watch Now
- Leafly Holdings, Inc. ( NASDAQ:LFLY )
- WM Technology, Inc. ( NASDAQ:MAPS )
- IM Cannabis Corp. ( NASDAQ:IMCC )
Leafly Holdings, Inc.
Leafly Holdings, Inc. owns and operates a platform to provide consumers with cannabis information and connects consumers to cannabis brands and licensed retailers. On December 5th the company announced its 2023 strain of the year. In 2023 Permanent Marker won Leafly Strain of the Year.
Released in 2022 on both coasts, the barely-year-old strain is an Indica-dominant hybrid with an impressive genetic lineage. Bred and grown in Los Angeles by Seed Junky Genetics, Permanent Marker is a cross of three well-loved strains – Biscotti, Jealousy (Leafly’s 2022 Strain of the Year), and Sherbet BX.
WM Technology, Inc.
WM Technology, Inc. provides e-commerce and compliance software solutions to retailers and brands in the cannabis market in the United States and internationally. In recent news, the company reported its Q3 2023 earnings.
[Read More] 3 Marijuana Stocks To Watch As The Cannabis Industry Continues To Grow
2023 Third Quarter Highlights
- Revenue was $47.7 million as compared to $50.5 million in the third quarter of 2022 (“prior year period”).
- Average monthly paying clients(1) was 5,414, as compared to 5,576 from the prior year period.
- Average monthly revenue per paying client(2) was $2,938, as compared to $3,019 from the prior year period.
- Net loss was $2.5 million as compared to net loss of $10.5 million from the prior year period.
- Adjusted EBITDA(3) was $10.7 million as compared to $(9.6) million from the prior year period.
- Basic and diluted net loss per share were both $0.02 based on 93.7 million of
- Class A Common Stock weighted average basic and diluted shares outstanding, respectively.
- Total shares outstanding across Class A and Class V Common Stock were 149.4 million as of September 30, 2023.
- Cash totaled $27.7 million as of September 30, 2023, with no debt.
[Read More] Are These Marijuana Stocks Ready To Move?
IM Cannabis Corp.
IM Cannabis Corp. engages in the breeding, growing, and supplying of medical cannabis products in Israel and Germany. On November 27th the company announced a receipt of court action. A complaint was made in the Ontario Superior Court of Justice in Canada by Michael Wiener, 35 Oak Holdings Ltd., and MW Investments Ltd. Which was against IMC Cannabis Corp. and its board of directors and officers.
A copy of this complaint was delivered to IMC on November 17, 2023. The complaint claims that IMC made misrepresentations in its disclosures before the IMC/MYM transaction in 2021. MYM Shareholder Plaintiffs are claiming damages that amount to approximately 15 million dollars. IMC has reviewed the complaint and believes that the allegations are without merit.