The marijuana industry is known for its main products recreational and medical cannabis. It has undergone a seismic shift over the past few years. The increasing acceptance and decriminalization of cannabis in various parts of the world. This includes the United States, which has propelled it from the shadows into the mainstream market. This shift has presented considerable opportunities for entrepreneurs, investors, and consumers alike, resulting in an emerging market with enormous growth potential.
Investing in marijuana stocks, much like the sector itself, is still relatively new and comes with its own set of unique challenges. Given the regulatory uncertainties, the potential for volatility is high. However, the increasing acceptance of cannabis, along with the expanding medical and recreational markets, are expected to drive significant growth in the sector over the next few years.
Investment in marijuana stocks predominantly involves investing in companies that are directly involved in the growing, distribution, and sale of cannabis, and those that provide ancillary services to the industry. Diversification across the marijuana supply chain can help mitigate some of the risks inherent in the industry. However, as with any investment, thorough research and due diligence are essential. With this in mind, here are three marijuana stocks to watch in the stock market now.
Marijuana Stocks To Buy [Or Avoid] Now
- Curaleaf Holdings Inc. (OTCMKTS: CURLF)
- Green Thumb Industries Inc. (OTCMKTS: GTBIF)
- Trulieve Cannabis Corp (OTCMKTS: TCNNF)
Curaleaf (CURLF Stock)
Starting off, Curaleaf (CURLF) is a leading vertically integrated cannabis operator in the United States, with operations spanning 19 states. The company operates more than 150 dispensaries and has a robust product portfolio that includes dried flower, edibles, and concentrates.
Today, Friday, Curaleaf announced the initiation of adult-use cannabis sales at its Groton, Connecticut dispensary. This makes it the third dispensary in the state to provide these services. The Groton location joins the Stamford and Hartford dispensaries, which earlier this year began offering adult-use cannabis products, both in-store and as a wholesaler to other dispensaries in the area.
In the last month of trading, shares of CURLF stock have rebounded by 14.57%. Meanwhile, looking ahead to Friday’s opening bell, Curaleaf stock is set to open at around $3.46 a share.
[Read More] What Stocks To Buy Today? 2 Gold Stocks To Watch
Green Thumb Industries (GTBIF Stock)
Next, Green Thumb Industries (GTBIF) is a cannabis consumer packaged goods company and retailer. The company produces a wide range of cannabis products for medicinal and adult-use markets. The company operates a chain of dispensaries under the name Rise™ and has more than 80 retail locations across 15 U.S markets.
This week, Green Thumb announced the date and time it will release its second quarter of 2023 financial results. Diving in, the company reported it will release its Q2 2023 results on August 8, 2023, after the close of the U.S. stock market.
Looking at the last month of trading, Green Thumb Industries stock is up 2.43%. While, during Friday’s pre-market trading session, GTBIF stock is trading at around $7.78 a share.
[Read More] Top Stocks To Buy Now? 3 Tech Stocks To Know
Trulieve Cannabis (TCNNF Stock)
Lastly, Trulieve (TCNNF) is a leading medical cannabis company in the United States, with a strong presence, particularly in the Florida market. The company operates an extensive network of dispensaries, offering a wide range of high-quality products to patients.
Just last month, Trulieve Cannabis reported that it has appointed Tim Mullany as its new Chief Financial Officer (CFO). Effective from July 10, 2023, Mullany, who boasts over two decades of experience in accounting and finance, will assume the CFO role.
In the last month of trading, Trulieve stock has recovered by 11.10%. Moreover, ahead of Friday’s opening bell, TCNNF stock is set to open at around $4.56 a share.