The legal cannabis industry has witnessed significant growth and transformation over the past few years. As an increasing number of countries and states move to decriminalize or legalize the use of cannabis for medicinal or recreational purposes. This evolving legal landscape has paved the way for the emergence of a multi-billion dollar industry. This makes up a wide range of businesses from cultivation and processing to distribution, retail, and ancillary services. As public perception shifts and the potential therapeutic benefits of cannabis continue to be researched and recognized, the industry is set to play a pivotal role in the global economy.
Cannabis stocks represent companies that operate within this burgeoning sector. These range from growers and producers of the plant to biotech firms specializing in cannabis-based medical treatments. As well as companies offering ancillary services such as hydroponics or lighting systems tailored for cannabis cultivation. Given the industry’s relative nascence, it’s not uncommon for these stocks to exhibit volatility, with prices influenced by regulatory news, individual state or country legalizations, and broader market sentiment.
Investing in cannabis stocks requires careful consideration and research. As with any emerging market, the cannabis industry has its inherent risks, largely stemming from regulatory uncertainties and the potential for market oversaturation. However, many investors are drawn to the potential for high returns, given the industry’s expansive growth projections. For those considering diving into this sector, it’s crucial to stay updated on legal shifts, understand individual company business models, and diversify investments to mitigate risks. That being said, here are two marijuana stocks to check out in the stock market this week.
Cannabis Stocks To Invest In [Or Avoid] Right Now
- Green Thumb Industries Inc (OTCMKTS: GTBIF)
- Curaleaf Holdings Inc. (OTCMKTS: CURLF)
Green Thumb Industries (GTBIF Stock)
Leading off, Green Thumb Industries Inc. (GTBIF) is a leading national cannabis consumer packaged goods company and retailer. The company manufactures and distributes a portfolio of branded cannabis products including flowers, concentrates, edibles, and topicals. With a wide-reaching presence, Green Thumb Industries operates numerous retail stores across the U.S.
Earlier this month, Green Thumb Industries announced plans to disclose its financial results for the third quarter of 2023 on Wednesday, November 8, after the market closes. The company will also host a conference call and audio webcast at 5:00 p.m. Eastern Time/4:00 p.m. Central Time on the same day.
Year-to-date, shares of GTBIF stock have increased by 15.99% so far. Meanwhile, as of Monday’s end of the day, Green Thumb Industries stock closed the day down by 1.03% at $9.65 a share.
[Read More] 2 Dow Jones Industrial Average Stocks For Your Mid-October 2023 Watchlist
Curaleaf Holdings (CURLF Stock)
Next, Curaleaf Holdings Inc. (CURLF) stands as one of the largest vertically integrated cannabis companies in the U.S. Curaleaf offers a range of high-quality products, including edibles, tinctures, and vape oils. Their network encompasses cultivation sites, processing facilities, and dispensaries distributed throughout multiple states.
Last week, Curaleaf Holdings reported that they will unveil their financial and operational results for the third quarter, which concluded on September 30, 2023, after the market closes on November 9, 2023. The company, recognized as a leading international provider of consumer products in the cannabis sector, also plans to conduct a conference call and audio webcast at 5:00 p.m. ET that same day.
In 2023 thus far, shares of CURLF stock are down modestly by 0.25% year-to-date. Meanwhile, as of Monday’s closing bell, Curaleaf stock finished the day down by 2.51% at $3.96 a share.
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