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Top Marijuana Stocks For Cannabis Investing 2024

Thursday, November 30, 2023 07:01 AM | via QuoteMedia

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Top Marijuana Stocks For Cannabis Investing 2024

2023-11-30 07:01:26 ET

3 Marijuana Stocks To Keep On Your Radar 2024

This upcoming year is setting up to be big for the cannabis industry . In 2024 we may see several events take place that could be huge turning points. To start we have another year of trying to establish federal reform. For the last several years there has been an ongoing fight to reschedule cannabis. Many feel once is federal reform put into place it will be one of the biggest victories for the cannabis industry. Also, we will see new products for consumers in both the medical and recreational markets.

Currently over half of the United States has legalized cannabis and has set up thriving markets. In 2024 we will also see various partnerships come into play helping to further expand the sector. With all of the above in the works, many are looking to become more involved. That is why some are taking advantage of this volatile decline and are looking for the best marijuana stocks to buy .

Even with a significant drop in trading the future of legal cannabis is what investors are focused on. Yes, the industry has come a long way yet there is much more to be done. Now before you begin to invest and start looking for the top cannabis stocks you will need to do some research. The more info you have about the sector and the companies in them the better chances of seeing sizable returns. Below are some marijuana stocks to watch if you are looking to invest before the next big recovery.

Marijuana Stocks For Your 204 Watchlist

The Cannabist Company Holdings Inc. ( OTC:CBSTF )
Goodness Growth Holdings, Inc. ( OTC:GDNSF )
Gold Flora Corporation ( OTC:GRAM )

The Cannabist Company Holdings Inc.

The Cannabist Company Holdings Inc. engages in the cultivation, manufacture, and provision of cannabis products and related services in the United States and internationally. In recent news, the company announced a new multi-brand retail and wholesale partnership with vaporizer brand, Airo.

The partnership will initially bring Airo’s cannabis vaporization brand to The Cannabist Company’s three Columbia Care dispensaries in Delaware beginning this week. Airo will be available through the Company’s wholesale channels in the coming weeks. The brand will continue to roll out across the Cannabist Company dispensary network in markets such as Virginia, West Virginia, and Pennsylvania over the next few months, pending regulatory approval.

Goodness Growth Holdings, Inc.

Goodness Growth Holdings, Inc. operates as a cannabis company in the United States. The company cultivates, processes, and distributes medical and adult-use cannabis products. Recently the company reported its 2023 third quarter earnings. Goodness GDNSF

Q3 2023 Highlights And Key Mentions

  • Q3 revenue of $24.7 million increased 44.0% YoY and 28.2% sequentially excluding discontinued operations –
  • Stronger revenue growth and margins largely driven by adult-use activation in Maryland
  • Record operating income reflects Maryland’s performance and early returns on our strategic plan, despite continued headwinds in New York –

Words From The Company

Amber Shimpa, President and CEO of Vireo Health of Minnesota commented, “Our operational key performance indicators continued to improve during the quarter despite the seasonal challenges we experience in our greenhouse environment in Minnesota. We are encouraged by the strength of our performance in the Maryland market following the implementation of adult use.

[Read More] 3 Top Marijuana Stocks For Cannabis Investors Today

Gold Flora Corporation

Gold Flora Corporation engages in the cultivation, manufacturing, extraction, distribution, and retailing of cannabis products in California. It offers disposable vape pens and gold flora flowers.

The company was founded in 2017 and is based in Costa Mesa, California. On November 14th the company released its Q3 2023 earnings report.

[Read More] Investing In Marijuana Stocks Here Are 3 To Know About

Q3 2023 Financial Highlights:

  • Q3 2023 total revenue was $32 million.
  • Gross profit was $11.3 million, representing a 35% gross margin.
  • Adjusted Gross Profit was $18.1 million, representing a 57% adjusted gross margin.
  • Adjusted gross profit excludes operating expenses (including depreciation and amortization) related to U.S. tax code 280E adjustments, and non-recurring inventory adjustments.
  • Q3 2023 net income was $23 million, including a non-cash $49 million bargain purchase gain realized on the Business Combination with TPCO Holding Corp.
  • Adjusted EBITDA loss was $1.7 million in Q3 2023.
  • Adjusted EBITDA was impacted by the Business Combination with TPCO Holding Corp. during the third quarter and the associated transaction and integration costs incurred.
  • Cash and cash equivalents totaled $32.3 million as of September 30, 2023.

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