Monday Investing Watchlist: Two Marijuana Stocks
Maintaining stronger trading throughout most of January has been a notable achievement for marijuana stocks. Shares in the marijuana industry have risen recently, which is wonderful news for shareholders. In the first few months of 2023, a lot of progress has already been made.
To put it simply, the start of a new year represents a fresh opportunity to advance the cannabis sector. More states might approve measures to legalize cannabis this year. Legal cannabis consumption in the United States is on the rise.
CBD and hemp-derived goods can be found for sale in even the states with no legal CBD or recreational hemp markets. That didn’t stop any of it from advancing the business world. This year, however, we shall find out if a federal reform is enacted in 2023.
Many people who have money invested in marijuana stocks believe that if federal legislation can be passed, it will cause a huge run. Although there is no assurance of this, the price of marijuana stocks has historically improved after good news broke.
If you’re looking for the finest marijuana stocks to invest in, now might be a good moment to do it. In 2022, when volatility was high, investors had a hard time making money. Some people saw this as an opportunity to stock up on cheap stocks before the market recovered.
It appears that the cannabis industry is maintaining its recent growth trend through 2023, which may continue if the trend is any indication.
Top Marijuana Stocks to Watch Today
- GrowGeneration Corp.
- Greenlane Holdings, Inc.
The retail hydroponic and organic gardening outlets in the United States are owned and operated by GrowGeneration Corp. The opening of a new store in Traverse City, Michigan, was recently reported by the corporation.
The Grow Store, based out of Traverse City, Michigan, is a family-owned and -operated business, and GrowGen has purchased their inventory and equipment from them. GRWG
The origins of this shop can be traced back to 1997 when it was among the very first of its kind in the United States. GrowGen acquired the business and its premises at 90 North US-31 South in Traverse City, Michigan.
Words from The CEO
GrowGen’s co-founder and CEO, Darren Lampert, is enthusiastic about the company’s plans to increase its retail presence in northern Michigan. This will allow GrowGen to better meet the needs of the region’s numerous producers. We’re thrilled to carry on The Grow Store’s tradition in Traverse City after its tremendous success there.
Greenlane Holdings, Inc.
In the U.S., Canada, and Europe, Greenlane Holdings, Inc. creates and sells cannabis accessories, child-resistant packaging, vape solutions, and other lifestyle products. The corporation has recently made several notable changes to its board of directors.
Board members Nick Kovacevich, Adam Schoenfeld, and Richard Taney have resigned. As a result, on January 6, 2023, the Board of Directors will expand to include incoming CEO, Craig Snyder. The Board’s renewed dedication to strengthening the economy is reflected in the decision to reduce its membership to five members.
Words from The Chairman of The Board
“We are restructuring the Board of Directors to become more effective and decisive as we move toward a higher-margin, more streamlined, and customer-centric consumer business. According to Donald Hunter, the board’s chairman, “reducing the board to five directors will allow Greenlane more flexibility and speed as we implement big, positive changes to the business in 2023, while also decreasing cash expenses associated with a larger board.”