The Best Marijuana Stocks To Watch For Big Gains In 2024

Industry Overview - The cannabis industry is experiencing growth, with over half of the USA having legalized marijuana in some form, which is driving demand for cannabis products [2] - Positive news regarding federal or state-level reforms tends to lead to better trading performance for marijuana stocks, although much of the trading is speculative and volatile [1][2] Company Highlights Leafly Holdings, Inc. (NASDAQ:LFLY) - Reported Q2 2024 revenue of $8.7 million, down from $10.7 million in Q2 2023 - Retail revenue decreased to $7.3 million from $8.8 million, while brand revenue fell to $1.4 million from $1.8 million - Gross margin improved to 89% from 88% in Q2 2023 - Total operating expenses reduced by 17% to $8.4 million from $10.2 million, reflecting cost discipline - Net loss slightly improved to $1.3 million from $1.4 million in Q2 2023 [5] WM Technology, Inc. (NASDAQ:MAPS) - Reported Q2 2024 net income of $1.2 million, down from $2.0 million in the prior year - Adjusted EBITDA decreased to $10.1 million from $10.2 million year-over-year - Cash increased to $41.3 million as of June 30, 2024, compared to $34.4 million at the end of 2023 - Total shares outstanding were 152.4 million as of June 30, 2024 [8] The Scotts Miracle-Gro Company (NYSE:SMG) - Reported fiscal 2024 third quarter net sales of $1 billion, an 11% increase from the prior year - Consumer engagement showed strength with unit point of sale (POS) up 10% year-to-date - GAAP gross margin rate improved to 29.5%, an increase of 1,110 basis points over the prior year - GAAP EPS for the third quarter was $2.28, while non-GAAP adjusted EPS was $2.31, nearly doubling the third quarter 2023 non-GAAP result [9]