Top Marijuana Penny Stocks to Watch Next Week for Potential Gains

Industry Overview - The U.S. cannabis market generated over $32 billion in sales in 2023, with projections suggesting it could reach $50 billion by 2028, indicating significant growth potential in the industry [1] - Ongoing legalization efforts and the possibility of federal legalization are driving interest and volatility in marijuana stocks, particularly penny stocks, which can offer high returns but also come with higher risks [1][2] Company Summaries TerrAscend Corp. - TerrAscend Corp. operates primarily in the Northeast U.S., focusing on both medical and recreational cannabis markets, with over 30 dispensaries under various brands, including The Apothecarium [4] - The company reported revenues of $72.1 million, a 10% increase from the previous quarter, with a gross profit of $30.6 million and a gross margin of 42% [5] - Adjusted EBITDA improved to $13.2 million, reflecting a 20% increase compared to the previous quarter, positioning TerrAscend for future growth as cannabis legalization expands [5] Agrify Corporation - Agrify Corporation provides innovative solutions for cannabis cultivation, including vertical farming systems and advanced lighting solutions, aimed at maximizing yields while minimizing costs [6] - The company reported revenues of $19.3 million, a 15% increase from the previous quarter, with a gross profit of $6.8 million and a gross margin of 35% [7] - Despite a net loss of $9.2 million, Agrify's management remains optimistic about future growth as more cultivators adopt its technology [7] High Tide Inc. - High Tide Inc. is a retail-focused cannabis company with a significant presence in Canada and a growing footprint in the U.S., operating over 150 retail locations under the Canna Cabana brand [8] - The company reported revenues of $95.4 million, a 12% increase compared to the same quarter last year, with a gross profit of $32.1 million and a gross margin of 34% [9] - Adjusted EBITDA reached $8.4 million, a 10% increase from the previous quarter, indicating strong financial performance and growth potential in the expanding cannabis market [9]