2 Marijuana Stocks to Watch in Mid-November 2021
This week marijuana stocks have been trading with more volatility. Earlier in the week, many cannabis stocks began to see a build-up of momentum. This increase in momentum helped some pot stocks reach higher market levels. As well it also gave a chance for some investors to take some profit. Now for some investors, they just held their position as they await a bigger jump. With companies releasing earnings this month, it may help sustain and grow this momentum. Outside of the market the cannabis industry is moving and growing with great success.
A good amount of cannabis companies have been progressing and expanding. This is being done through either M&A and buyouts or opening new stores as well cultivation facilities. In addition to even creating new products and adding new team members to certain companies. With success and progress showing outside of the market, it’s giving more people a reason to invest in the market.
Right now a buying strategy that is being used is basing which are the best marijuana stocks to buy off of company success. Due to poor trading patterns over the last 9 months, it’s tough to use trading history to determine whether you should buy or not. However, during these downtimes, there have been some traders that have been able to pull profits from this volatility.
The Cannabis Industry And Marijuana Stock Investors
Right now those invested in legal cannabis have a bigger concern with the future of the industry overall. Much of the current focus could, in turn, help the trading of cannabis stocks which is federal reform. With the possible passing of federal cannabis reform, those who work in the industry will then have access to more tools. For one with the end of cannabis, prohibition banks would be able to work with marijuana-related businesses. This alone could be the catalyst needed to see more upward consistency among marijuana stocks.
Top Marijuana Stocks To Watch Right Now In 2021
- High Tide Inc. (NASDAQ:HITI)
- Glass House Brands Inc. (OTC:GLASF)
High Tide Inc.
High Tide Inc. engages in the cannabis retail business in Canada, Europe, the United States, and internationally. The company designs and manufactures and distributes smoking accessories and cannabis lifestyle products. In recent news, the company announced the opening of its 58th retail cannabis store in Alberta. With this new store, the company has now become the largest cannabis retailer in the province. This opening represents High Tide’s 104th branded retail location across Canada and 58th in Alberta.
Words From The CEO
“I am pleased that with this new location in East Hills, even more customers in east Calgary and Chestermere will be able to easily access our innovative discount club concept,” said Raj Grover, President and Chief Executive Officer of High Tide. “Canna Cabana was one of the first players to enter the retail cannabis market in Alberta in 2018, and I am proud that with today’s announcement we became the largest cannabis retailer in the province. This new Canna Cabana store, like all of our locations, is designed to lure customers away from the illicit market that still accounts for almost half of all cannabis sales nationally by offering them steep member discounts and unbeatable selection on cannabis products and consumption accessories,” added Mr. Grover.
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HITI Stock Performance And Market Update
At the start of September, this marijuana stock was holding a promising market level. This upward position was held until the 13th of September which is when HITI stock started to see a drastic drop in the market. This decline in the market lasted the entire month of September. Even with moments of upward climbs, HITI stock was not able to sustain those recoveries. In the first half of October HITI was following the same downtrend in the market. Yet at the end of October moving into November, this marijuana stock started to recover once more. Currently in November HITI stock is still up and shareholders hope this marijuana stock will continue to climb.
Glass House Brands Inc.
Glass House Brands Inc. cultivates, manufactures, produces, and retails cannabis. It offers cannabis products under the Glass House Farms, Forbidden Flowers, and Mama Sue brands. In the past week, the company has made 2 news important updates. Back on November 4th, the Glass House has filed suit against element 7. This suit was done to enforce the transfer of contractually committed licenses. 
In addition, GH Group has also given notice to E7 LLC that it is terminating the License Development Consulting Agreement. Next, the company also announced it has appointed John Brebeck as Vice President of Investor Relations. Mr. Brebeck commenced his new role with the Company on November 1, 2021.
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Words From The Company
“We are thrilled to welcome John to the Glass House team as our new VP of Investor Relations,” said Kyle Kazan, Chairman and Chief Executive Officer of Glass House. “John has been a shareholder in Glass House Brands from the very beginning and is a strong proponent of shareholder alignment. Having spent his entire career in the public markets in research, investment strategy, investment banking, and capital market advisory for public companies, John brings a vast breadth of experience in the institutional investment industry to the Glass House team.
GLASF Stock Performance And Market Update
In the last 4 weeks of trading GLASF stock has faced a good amount of up and down trading. At the start of October, this marijuana stock was coming off of a drop in trading from the end of September. In the first few weeks of October, GLASF stock was trading with volatile patterns. In fact, for much of October, the company was dealing with an unpredictable trading pattern. Some weeks there were small recoveries and then the company would dip back down. Yet once November began the company started to see a nice increase in momentum. This momentum allowed for GLASF stock to see a rise in trading which has continued for the company. So with GLASF stock on its upward swing shareholders are keeping a positive attitude that the company will further rise.
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