GNLN - This Is How Marijuana Stocks Will Be Impacted By Reform In 2024
2024-05-11 09:17:45 ET
Top Marijuana Stocks To Know This Week
As the cannabis industry continues its growth in 2024, a confluence of regulatory, demographic, and market trends is shaping the sector. This has presented a fertile ground for savvy investors. Here’s a deeper look into the evolving landscape of cannabis investments. This year could mark a significant turning point with the potential rescheduling of cannabis at the federal level. If cannabis can one day be federally legal it would be the biggest win for the industry.
The end of the prohibtion of cannabis in America would open many doors and ease the uncertainty of investors. Those who are invested in cannabis on the publicly traded side have been through the storm as well. Many marijuana stock investors understand how volatility and uncertainty can impact the sector. Yet when looking for marijuana stocks to buy these factors can have an advantage. This year could mark a significant turning point with cannabis on many levels both inside and outside of the market.
The industry’s market valuation is on an upward trajectory, with analysts projecting significant growth in the coming years. Investors are particularly drawn to companies with low price-to-sales ratios, seeing them as undervalued opportunities poised for growth. For this reason, it is best to prepare and learn about the cannabis industry and how to invest. The companies below are just a few marijuana stocks to watch if you are looking to invest.
Top Marijuana Stocks 2024
- Jushi Holdings Inc. ( OTC:JUSH )
- Greenlane Holdings, Inc. ( NASDAQ:GNLN )
- Cresco Labs Inc. ( OTC:CRLBF )
Jushi Holdings Inc.
Jushi Holdings Inc., a vertically integrated cannabis company, engages in the cultivation, processing, retail, and distribution of cannabis for medical and adult-use markets. On May 9th the company released its Q1 2024 earnings.
First Quarter 2024 Financial Highlights
- Total revenue of $65.5 million
- Gross profit and gross profit margin of $32.3 million and 49.4%, respectively
- Net loss of $18.4 million
- Adjusted EBITDA1 of $13.3 million, an improvement of $5.7 million year-over-year
- Adjusted EBITDA1 margin of 20.4%
- Cash, cash equivalents, and restricted cash of $30.6 million as of the quarter end
- Net cash flows provided by operations of $6.5 million
Greenlane Holdings, Inc.
Greenlane Holdings, Inc. develops and distributes cannabis accessories, vape solutions, and lifestyle products in the United States, Canada, and Europe. On November 27th the company announced the receipt of Nasdaq listing deficiency notice. The company is not currently in compliance with Nasdaq’s Listing Rules. This is due to Greenlane’s inability to timely file its Quarterly Report on Form 10-Q.
The Notice does not immediately affect the listing or trading of the Company’s securities. According to Listing Rule 5250(c)(1), the Company was required to file the Form 10-Q by November 14, 2023. The Company previously reported its inability to file Form 10-Q by the Due Date on Form 12b-25, which the Company filed with the SEC on November 15, 2023. Currently, the Company is working diligently to complete the Form 10-Q and anticipates filing the Form 10-Q as soon as possible.
Cresco Labs Inc.
Cresco Labs Inc., together with its subsidiaries, cultivates, manufactures, and sells retail and medical cannabis products in the United States. Recently the company announced it will be participating in conferences in May.
Conference Participation For Cresco Labs Inc.
19th Annual Needham Technology, Media & Consumer Conference, May 16, 2024, Virtual: Management will participate in a fireside chat and one-on-one meetings.
8th Annual Canaccord Global Cannabis Conference, May 23, 2024, New York City: Management will participate in panel and one-on-one meetings.