These Ancillary Marijuana Stocks May Be The Ones To Watch In October
As the cannabis industry sees further growth marijuana stocks are still seeing a bit of up and down trading. In the last year, a great amount of progress has taken place. For instance, from 2020 to now in 2021 more states have voted to go legal. Now more than half of the United States has legalized cannabis in some form. With these new markets are being developed it’s been generating high amounts of revenue. Many MSO companies have already been entering many of these states further expanding into various markets. As these companies continue to excel investors are using metrics like this to help figure which marijuana stocks to buy.
The cannabis sector hasn’t been performing as it used to so relying on past trading patterns to determine a buy isn’t valued how it once was. Right now a lot of volatile trading has further impacted the market, particularly with cannabis stocks. This volatile action has been both positive and negative. The positive part is when volatile trading happens it can create good buying opportunities. Cannabis stock performs in an unstable market which can lead to drops in trading which leads to a chance to buy top pot stocks.
The negative part is when you buy a particular cannabis stock and it dips below what you paid for your position. As of now, many are waiting for further updates on federal cannabis reform in the United States. Recently 2 new federal reform bills have passed the House. One is a cannabis banking measure that Is part of a defense bill and the next is a bill to federally legalize cannabis. When the House passed each bill many marijuana stocks built a large amount of moment.
The Cannabis Industry And Marijuana Stock Updates
This moment led to the sector seeing a sizable rise amongst many cannabis companies in the market. In the last 4-6 months any progressive news about federal cannabis reform has been the catalyst needed to see any upward movement. So with the current state of the cannabis industry and market, there is still time to find promising investment opportunities. Just make sure you do your homework before investing and take your time to consider all investment options. Especially with looking for the best marijuana stocks to buy in 2021.
Top Marijuana Stocks To Watch Right Now
GrowGeneration Corp. (NASDAQ:GRWG)
The Scotts Miracle-Gro Company (NYSE:SMG)
GrowGeneration Corp. through its subsidiaries owns and operates retail hydroponic and organic gardening stores in the United States. In recent news, the company has announced it has signed a distribution agreement with Groundwork BioAG. Both GrowGen and Groundwork BioAG have created a venture to work with DYNOMYCO®. The distribution agreement brings together GrowGen’s commercial reach and marketing prowess. As well as Groundwork BioAg’s innovative and highly-effective mycorrhizal inoculants.
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Words From The Company
“Product portfolio expansion has become a strategic priority for GrowGen, and a key component of our long-term revenue generation plan,” said Paul Rutenis, GrowGen’s Chief Merchant Officer. “We are proud to bring Groundwork BioAg’s unique technologies and proprietary mycorrhizal products to GrowGen and our family of growers who are on the leading edge of farm management practices to produce the highest quality plants.”
The Scotts Miracle-Gro Company
The Scotts Miracle-Gro Company Company manufactures, markets, and sells consumer lawn and garden products in the United States and internationally. The company operates through three segments: U.S. Consumer, Hawthorne, and Other. However through the companies subsidiary Hawthorne Gardening it offers growing supply and equipment to the cannabis industry. Back at the start of September the company made an announcement in regards to appointing a new Chief Financial Officer and executive vice president.
The new CFO and executive vice president will be a man by the name of Cory Miller. Miller was promoted to senior vice president and chief financial officer on an interim basis earlier this year. This came after he previously served as vice president of finance for Hawthorne Gardening Company. As the company continues to grow moves like this demonstrate the ability to have good leadership. When a company has the right players in position a lot more can be accomplished inside of the company.
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Words From CEO
“Cory brings over 20 years of financial and leadership experience. His contributions while at the helm of finance for Hawthorne have proved to be invaluable, including the integration of Sunlight Supply and several other deals that have led to the current Hawthorne portfolio,” said Jim Hagedorn, chairman and chief executive officer. “Cory has been deeply involved in the business, excelling in a series of corporate and operating roles here at Scotts. He has confidently assumed the duties as interim CFO and will now do so on a permanent basis. I am confident in his ability to continue to support our Company’s growth strategies.”
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