Are These Best Marijuana Stocks To Buy?
What are marijuana stock investors looking for heading into 2023? For those who are new to the cannabis sector, the legal industry is still relatively young. In most new industries there is still more to be done as things develop more. The cannabis industry is no different. Now with the growth of the cannabis industry comes improvements in many areas. The main areas are regulations dealing with legislation and the publicly traded side of the industry among other industry improvements. Most marijuana stocks trade with a high level of volatility and over the last few years, it has only increased.
But with more than half of the United States and several parts around the world legalizing cannabis things are drastically changing. Cannabis at one point in time was a taboo subject to speak on yet currently it is one of the fastest-growing industries. With prohibtion still in place, some are looking at this as a time to find marijuana stocks to buy . The reason is many feel once cannabis prohibition is no more the potential to see a big jump in trading is high.
Although this is not set in stone history has shown that news on the matter when positive causes a recovery in trading. So what some feel is a good strategy is to buy and hold and on good days take some profits as it comes. Heading into the future there is even an amount of caution and optimism in regard to investing in marijuana stocks. As 2023 approaches we may see more positive days of trading during the new year. Just make sure you keep a watchful eye on the sector to take advantage of any upward trading.
Top Marijuana Stocks To Watch In 2023
- Curaleaf Holdings, Inc. ( OTC:CURLF )
- Cresco Labs Inc. ( OTC:CRLBF )
- Ayr Wellness Inc. ( OTC:AYRWF )
Curaleaf Holdings, Inc.
Curaleaf Holdings, Inc. operates as a cannabis operator in the United States. It operates in two segments, Cannabis Operations, and Non-Cannabis Operations. The Cannabis Operations segment engages in the production and sale of cannabis through retail and wholesale channels. Recently the company announced the celebration of the opening of a new dispensary in Orlando and Miami, FL.
The 2 new stores are located on Orlando International Drive and Miami South Beach. The new locations are Curaleaf’s 53rd and 54th locations to open in the Sunshine State and 144th nationwide.
Words From The Company
“We are thrilled to welcome Florida’s diverse and rapidly-growing medical cannabis community to these new locations on International Drive in Orlando and Collins Avenue in the heart of South Beach, Miami,” said Matt Darin, CEO of Curaleaf.
Cresco Labs Inc.
Cresco Labs Inc. together with its subsidiaries cultivates, manufactures, and sells retail and medical cannabis products in the United States. Back on November 15th, the company released its Q3 2022 results.
Q3 2022 Highlights
- Third quarter revenue of $210 million, down 2% year-over-year.
- Adjusted gross profit1 of $100 million or 47% of revenue. Third quarter adjusted EBITDA1 of $42 million, or 20% of revenue.
- Adjusted gross margin1 and adjusted EBITDA margin1 were impacted by actions taken in the quarter to improve long-term profitability.
- Wholesale revenue of $93 million, which maintained the Company’s position as the No. 1 U.S. seller of branded cannabis products in the industry with leading share positions in the flower, concentrates, and vapes categories2.
- Maintained market leadership in Illinois, Pennsylvania, and Massachusetts2.
Ayr Wellness Inc.
Ayr Wellness Inc. a vertically-integrated cannabis multi-state operator, cultivates, manufactures, and retails cannabis products and branded cannabis packaged goods.
The company’s cannabis and cannabis products include concentrates, edibles, and vaporizers. On the 28th of November, the company began the adult sale of cannabis at its Somerville, Massachusetts retail location.
Words From The CEO
“We are excited to add adult-use sales to our Somerville location, introducing our portfolio of high-quality branded products to more cannabis consumers, as we continue to serve our loyal medical patients at this location,” said Jonathan Sandelman, Founder and CEO of Ayr.