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Top Marijuana Stocks For Better Market Action
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Here Are 3 Cannabis Stocks That Could Soon See A Rise In Trading
The cannabis industry continues to grow and shows why people should be finding ways to invest. Now marijuana stocks for some time have been one of the tougher sectors to pull consistent profits from. There is a lack of continuous momentum and when there is it is often due to politics on cannabis reform. Other factors that help the sector build better momentum is when companies report strong earnings. When people can see that a company is thriving it entices them to invest looking further into marijuana stocks.
In the current state of the sector, many have turned to a long-term strategy. Hopes are high things like better reform will pass and help bring the trading momentum back to a consistent level. Yet in any sector or type of investing nothing is a guarantee and things can always change. Still, the future of legal cannabis particularly in the United States is only growing and working to meet consumer demands. All things cannabis is on the rise more edibles and strains and ways to enjoy them safely.
The innovation coming out of the cannabis sector is another reason people see more investment potential in the long term. There are still more mountains to climb for the industry as a whole but slow progress is better than no progress at all. Preparation is key and learning about companies and how they perform can help with making better investment choices. The companies below are several marijuana stocks to watch in today’s market.
Marijuana Stock To Watch This Year
- GrowGeneration Corp. (NASDAQ:GRWG)
- Hydrofarm Holdings Group, Inc. (NASDAQ:HYFM)
- The Scotts Miracle-Gro (NYSE:SMG)
GrowGeneration Corp.
GrowGeneration Corp., through its subsidiaries, owns and operates retail hydroponic and organic gardening stores in the United States. In recent news, the company announced product lines across its proprietary brands portfolio. 
The new product categories include growing lighting, essential accessories, and medium for indoor growing and greenhouse hydroponics.
Words From The Company
Darren Lampert, GrowGen’s Co-Founder and Chief Executive Officer, said, “As part of our recently introduced profitability strategy, we are driving higher margin sales growth by launching a series of new, innovative products in high-demand areas. That way, we can better meet our customers’ needs and contribute to stronger margins for GrowGeneration.”
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. In recent news, the company has reported its Q3 2024 earnings. 
Third Quarter 2024 Highlights vs. Prior Year Period:
- Net sales decreased to $44.0 million compared to $54.2 million.
- Gross Profit Margin increased to 19.4% of net sales compared to 6.1%.
- Adjusted Gross Profit Margin(1) increased to 24.3% of net sales compared to 23.0%.
- SG&A expense and Adjusted SG&A(1) expense decreased by more than 10%.
- Net loss improved to $13.1 million compared to $19.9 million.
- Adjusted EBITDA(1) remained positive.
[Read More] The Best 3 Marijuana Stocks For Investors To Follow
The Scotts Miracle-Gro
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. 
On November 6th the company reported its Q3 2024 financial results.
[Read More] Cannabis Industry Focus: Marijuana Stocks to Watch This Week
Financial Results
- For the quarter ended September 30, 2024, total Company net sales were $414.7 million, an increase of 11 percent compared to $374.5 million a year ago.
- Hawthorne segment sales decreased 46 percent, to $80.5 million, compared to $149.7 million in the fourth quarter last year.
- GAAP and non-GAAP adjusted gross margin rates for the quarter were negative 7.1 percent and negative 3.1 percent, respectively.
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November 22, 2024 at 08:46AM
November 22, 2024 at 08:50AM
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