GNLN - Top 3 Marijuana Stocks For Your Cannabis Watchlist
2023-06-28 07:00:33 ET
The Best 3 Marijuana Stocks For Your Portfolio
Marijuana stocks are still facing heavy volatile trading which has created more unpredictable patterns. For a long while the cannabis sector is facing a lack of upward trading. In addition other variables with no federal reform in place many feel this is the main cause of the volatility. Yet when there is positive news on the subject the market reacts well and begins to recover.
Many see investing in cannabis currently as a mid to long-term game as it was not like this at one point. Still, with the cannabis industry still fairly new and evolving it is possible to see more opportunities in the near future. With how volatile the sector has become now is a good time to prepare for future trading. The sector is still down and this is a window to find the best marijuana stocks to buy . While building your portfolio always do your market research and homework.
Also, you want to create a plan that gives you the best options to adapt to any market changes. Halfway through 2023, there is still time left to see better trading. A handful of cannabis companies are working to improve different parts of the business which can play a part in seeing future recoveries. For now, it is a waiting game to see what will bring in more momentum for the sector. Below are several marijuana stocks to watch heading into a new month of trading.
Top Marijuana Stocks For Your 2023 Portfolio
- Greenlane Holdings, Inc. ( NASDAQ:GNLN )
- High Tide Inc. ( NASDAQ:HITI )
- TILT Holdings Inc. ( OTC:TLLTF )
Greenlane Holdings, Inc.
Greenlane Holdings, Inc. develops and distributes cannabis accessories, vape solutions, and lifestyle products in the United States, Canada, and Europe. It operates in two segments, Consumer Goods and Industrial Goods. Recently the company announced it has regained compliance with Nasdaq listing requirements.
The Nasdaq Stock Market LLC on June 22, 2023, informed Greenlane that it has regained compliance with the minimum bid price requirement under Nasdaq Listing Rule 5450(a)(1) for continued listing on The Nasdaq Global Market. Consequently, Greenlane is now in compliance with all applicable listing standards and its Class A common stock will continue to be listed on The Nasdaq Global Market.
High Tide Inc.
High Tide Inc. engages in the cannabis retail business in Canada, Europe, the United States, and internationally. The company manufactures and distributes smoking accessories and cannabis lifestyle products. Recently the company reported its second fiscal quarter of 2023. During this time the company hit its 3rd consecutive quarter of record revenue.
[Read More] 3 Marijuana Stocks To Buy Before July?
Quarterly Highlights 2023
- Revenue increased to $118.1 million in the second fiscal quarter of 2023 compared to $81.0 million during the same period in 2022, representing an increase of 46% year-over-year.
- Gross profit increased to $31.6 million in the second fiscal quarter of 2023 compared to $22.7 million during the same period in 2022.
- Gross profit margin in the three months ended April 30, 2023, was 27%, consistent with the previous three quarters.
- Adjusted EBITDA increased to $6.6 million in the second fiscal quarter of 2023
TILT Holdings Inc.
TILT Holdings Inc. operates in the cannabis industry in the United States, Canada, Israel, Mexico, South America, and the European Union. It operates through Cannabis, Accessories, and Other segments.
On June 8th the company announced changes to its Board. D’Angela “Dia” Simms stepped down from the Company’s Board of Directors (the “Board”) and Arthur “Art” Smuck was appointed to the Board on June 7, 2023.
[Read More] 4 Marijuana Stocks For Better Trading This Month
Words From The CEO
“We’d like to thank Dia for her time and contributions while serving on the Board,” said Interim Chief Executive Officer Tim Conder. Dia’s need to transition off the Board at this juncture in her company’s business trajectory is understandable. However, we are pleased she has agreed to serve in an ad hoc advisory role as we work to establish ourselves as the leading platform to scale cannabis brands.”