The cannabis industry has experienced an amazing change in recent years. This includes evolving from an underground market to a legitimate and rapidly growing sector. As legalization spreads across various regions, investors are increasingly attracted to marijuana stocks. However, investing in this budding market comes with its own set of risks. Yet the explosive growth, particularly in the United States and Canada has allowed more people to enter the sector as well learn about it.
Marijuana stocks are caught once again in a downward trend due to more industry hold-ups. In recent news, the DEA who not long ago was on board and on track to reschedule cannabis has now put that action on pause. What a surprise! This is not an unfamiliar occurrence for the cannabis industry, especially during an election year. During this time candidates are focused on winning votes and meeting the needs of those voters.
Green Plains Inc. (GPRE) Q2 2024 Earnings Conference Call August 8, 2024 4:30 PM ET Company Participants Philip Carlson - Managing Director, KCSA Strategic Communications Darren Lampert - Chief Executive Officer and Co-Founder Greg Sanders - Chief Financial Officer Conference Call Participants Mark Smith - Lake Street Capital Markets Brian Nagel - Oppenheimer Aaron Grey - Alliance Global Partners Andrew Carter - Stifel Operator Hello, everyone, and welcome to GrowGeneration's Second Quarter 2024 Earnings Conference Call. My name is Nic [ph] and I will be your operator for today's call.
GrowGeneration (GRWG) came out with a quarterly loss of $0.10 per share versus the Zacks Consensus Estimate of a loss of $0.08. This compares to loss of $0.09 per share a year ago.
Marijuana stocks continue to see a drop in trading. Yet what does this mean for investors? For the last week, the market overall has seen a downward slope due to fears of recession and war. Nevertheless, this could be a time to prepare for the future. Whenever a sector has a pullback in trading this can be a time to pick up shares for low entry points.
GrowGeneration (GRWG) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
The Agriculture - Products industry is set to gain from solid demand. Stocks like Bunge (BG), WestFraser (WFG), GrowGeneration (GRWG) and Hydrofarm (HYFM) are poised to ride on this positive trend.
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?
GrowGeneration is a NASDAQ-listed stock with good trading volumes, and it is a member of the New Cannabis Ventures Global Cannabis Stock Index. Analysts project declining revenue and negative net income for GrowGeneration in 2024, with an improvement in 2025, but with a low adjusted EBITDA margin. Despite declining revenue, GrowGeneration trades below tangible book value, has a strong balance sheet, and the chart supports potential upside.
Marijuana stock investors use various tactics when investing in a company. The cannabis sector overall tends to react the same no matter the reason. For example, when positive news on reform is released often the entire sector begins to rise creating a seller market. Yet as many know there have been more volatile down trends than upward trading. When there is a price drop the sector becomes buyers market. The system of what marijuana stocks to invest in has not changed much over the years.
The cannabis sector is being hit with a large amount of speculative trading. Much of this is done based on the future of laws and regulations. Especially with the DEA's recent agreement to reschedule cannabis to class 3 narcotics. Yet with the long-fought battle with reform, people have better insight into how to prepare. So for instance, if you are an investor you would search for the best marijuana stocks to buy at the best entry point.
Some of the best top marijuana stocks to watch could see better moments this short week. Now that Memorial Day has passed people are getting back to focusing on the sector. The cannabis industry has seen a great deal of up-and-down trading based on speculation of future reform. Over the last few months the craze inside the market based on the DEA and the future of better federal reform. This has been an ongoing challenge for time and a recurring topic since cannabis became legal in various states.