Top Canadian Marijuana Stocks For Your September 2021 Watchlist
For most of the trading day on September 2nd, marijuana stocks were showing more upward momentum. On this day the cannabis sector was a bit more in the green. This was another moment where investors were able to take some profits after a long decline in the market. Now what investors would like to see is this type of upward trading being more consistent in the sector. Unfortunately, there is no way to give a concrete answer on whether this upward trading will continue. But with more progress continuing outside of the market it may help resonate with positive sentiment amongst other cannabis stocks.
With more talks about federal cannabis reform and companies expanding it shows the further success of the cannabis industry. Having this continued success is what’s keeping people furthered interested in wanting to invest in cannabis. However, even with the continued success of the overall industry people are still concerned. This concern stems from not just how unpredictable the sector is but the growing uncertainty of when things will change. This change is in regards to marijuana stocks having more consistency in upward trading.
Hopefully, this will happen in the near future with all that is currently taking place in the cannabis industry. Some feel that if federal cannabis reform is enacted it will help bring the average of the entire cannabis sector back up. Yet once again this is nothing we can or will know for sure. But investors are keeping a glass half full approach knowing that even though the market is not what it once was further progress is happening. Furthermore like always remember to do your due diligence and to proceed with caution before investing in any marijuana stock. Below are 2 marijuana stocks to watch in 2021 that may soon pickup in trading.
Top Marijuana Stocks To Watch This Year
Red White & Bloom Brands Inc. (OTC:RWBYF)
HEXO Corp. (NASDAQ:HEXO)
Red White & Bloom Brands Inc.
Red White & Bloom Brands Inc. engages in the cultivation and retail of cannabis products primarily in Michigan, Illinois, Massachusetts, Arizona, California, and Florida. Back at the end of August, the company released its Q2 2021 earnings. During this time the company’s Q2 revenue increased 13% over Q1 2021. As well the company received the Florida Department of Health, Office of Medical Marijuana Use approval.
In addition to closing on the acquisition of Acreage Florida. Which is licensed to operate medical marijuana dispensaries, a processing facility, and a cultivation facility in the state of Florida. The transaction included a 114,000 SF facility for cultivation and a 4,000 SF freestanding administrative office building. Another highlight is RWB retired approximately $US10 million of debt.
Words From The Company
Brad Rogers, Chairman & CEO commented, “We continue to make great strides with our branded products and see momentum in Q2, which has teed up Q3 nicely and will translate into a strong second half. In Florida, after closing the acquisition at the end of April, we have made strategic investments that are allowing us to quickly ramp up capacity as well as complete construction for new store openings before the end of 2021.
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RWBYF Stock Performance And Market Update
In the last 30 days of trading RWBYF stock has been working on building its momentum. At the start of August, RWBYF stock was not in the best place in the market. In the first several weeks of the month, RWBYF stock was on a downward path. This downtrend lasted much of the month yet right before September this cannabis stock saw a nice rise in trading. From the 20th to the 26th of August RWBYF stock saw a nice run that allowed for some investors to take profits. However, this run died down right before the start of September. Currently RWBYF Stock has gone on another downtrend but hopefully, things will change for this cannabis stock.
HEXO Corp.
HEXO Corp. through its subsidiaries, produces, markets, and sells cannabis in Canada. Over the last month, HEXO Corp. has made some important company announcements. On August 30th the company announced the closing of the Redecan transaction. At closing, HEXO paid the selling shareholders of Redecan $400 million in cash and delivered 69.7 million newly issued common shares of HEXO.
In more recent news the company and 48North announced the closing of the arrangement. HEXO has acquired all of the issued and outstanding common shares of 48North. This was done by way of a court-approved plan of arrangement under the Canada Business Corporations Act.
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HEXO Stock Performance And Market Update
During The Month Of August, HEXO stock was on a slow downtrend most of the month. In the first 18 days of the month, HEXO stock was slowly losing its momentum. This created the drop in trading but during this time HEXO stock was still holding a decent market level to recover from. Yet this was not the case. From the 18th to now in September HEXO stock has furthered its descend in the market. As investors keep an eye on this Canadian marijuana stock right now the company needs to find a way to sustain more momentum.
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