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Top Contending Marijuana Stocks For Investors Today
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3 Marijuana Stocks For Investors To Watch
Finding the best marijuana stocks to buy in today’s market takes a proper strategy. With all that is going on in the cannabis sector knowing when to buy or sell becomes the concern. Even if you see your shares rise a bit with how volatile most cannabis stocks can be what if the price goes higher? But what if your shares drop from the price you bought your shares or what if they do not move up or down at all?
There is much to consider when looking to invest in pot stocks. However, money is being made both in and out of the market. So what are the steps to see better odds at making a profit? The more info you have on the sector or companies of interest the better decisions you can make. Knowing how profitable or not profitable a company is can be crucial. You want to invest in a company that is showing some type of progress or expectancy of future gains.
At times the speculation of what can happen can also be a tactic when investing. Especially with all that is going on in legal cannabis at the moment. We have the DEA working to reschedule cannabis and the possible campaign promises during this next presidential election. Either way, investing in marijuana stocks could show more value than some believe. The companies below are several marijuana stocks to watch.
Marijuana Stocks To Watch Now
- GrowGeneration Corp. (NASDAQ:GRWG)
- Hydrofarm Holdings Group, Inc (NASDAQ:HYFM)
- The Scotts Miracle-Gro Company (NYSE:SMG)
GrowGeneration Corp.
GrowGeneration Corp., through its subsidiaries, owns and operates retail hydroponic and organic gardening stores in the United States. Back on June 11th, the company’s Horticultural Rep Group unveiled a B2B portal for hydroponic retailers and garden centers nationwide. 
The innovative new portal, HRG Marketplace, aims to revolutionize how HRG customers and partners across the United States access and procure products. The HRG B2B Portal was created as a one-stop destination for all hydroponic product needs across various categories.
[Read More] High Growth: Top Pot Stocks Making Moves into March 2024
Hydrofarm Holdings Group, Inc.
Hydrofarm Holdings Group, Inc., together with its subsidiaries, manufactures and distributes controlled environment agriculture (CEA) equipment and supplies in the United States and Canada. On May 14th the company reported its Q1 2024 results. 
First Quarter 2024 Highlights vs. Prior Year Period:
- Net sales decreased to $54.2 million compared to $62.2 million.
- Gross Profit Margin increased to 20.2% of net sales compared to 18.3%.
- Adjusted Gross Profit Margin(1) increased to 23.4% of net sales compared to 22.6%.
- Net loss improved to $12.6 million compared to $16.8 million.
- Adjusted EBITDA(1) increased to $0.3 million compared to $(2.1) million.
- Cash used in operating activities and Free Cash Flow(1) improved $6.7 million and $6.9 million, respectively.
[Read More] Top Canadian Cannabis Stocks to Watch in Mid-July 2024
The Scotts Miracle-Gro Company
The Scotts Miracle-Gro Company, together with its subsidiaries, manufactures, markets, and sells products for lawn, garden care, and indoor and hydroponic gardening in the United States and internationally. 
In recent news, the company gave details to operating and financial targets. Which was announced at the Meeting the Management Investor Day in Maryville, Ohio.
Words From The Company
“Over the past two years, we’ve been on a journey to transform our Company and return to a more shareholder-friendly environment,” said Jim Hagedorn, chairman, CEO and president.”
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July 17, 2024 at 09:48AM
July 17, 2024 at 09:50AM
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