2 Marijuana Stocks To Watch This Week For Better Trading
As marijuana stocks begin a new week of trading some cannabis companies are starting to look better. From the close on the 15th of October, there was a handful of cannabis stocks that were able to see a rise in trading. Now, this could be due to how some of these companies are progressing outside of the market. Because of how low the cannabis sector has dropped using a past trading pattern may not be a good metric. Especially when looking for top marijuana stocks to buy in today’s market. Even if a cannabis stock is down its success outside of the market is a good indicator of whether to buy or not.
Still even with the company showing progress always educate yourself on current company info. The cannabis industry as a whole is growing at a fast rate. Since 2018 much more progress and development have occurred in the industry. For instance, more than half of the United States has legalized cannabis in some form. This has led to the further development of new markets and state-level cannabis reform. As well as many companies growing and expanding in the form of M&A. In addition to new dispensaries and cultivations sites.
With the industry continuing to show its growth potential more people are looking to become invested. As mentioned above the sector for almost the last year has been incredibly volatile. This up and down trading has played out well for some and others not so much. What this means is some investors were able to capitalize off of the dipping market. As for others, they were not fortunate to see the upside of the down market. Currently, in 2021, there is a lot of opportunities to be had that is being built inside of the cannabis industry.
Top Marijuana Stocks For Your 2021 Watchlist
- Cresco Labs Inc. (OTC:CRLBF)
- Sundial Growers Inc. (NASDAQ:SNDL)
Cresco Labs Inc.
Cresco Labs Inc. together with its subsidiaries cultivates, manufactures, and sells retail and medical cannabis products in the United States. In recent news, the company looks to expand its leadership in Pennsylvania. This is being done through the acquisition of a vertically integrated operator Laurel Harvest. The Transaction will include a newly constructed indoor cultivation facility in Lancaster County.
This location will allow for new cultivation capacity, the foundation to expand the facility. Which is another strategic point of distribution that is complementary to Cresco Labs’ cultivation facility in Brookville. As part of the acquisition, Cresco Labs will also acquire the real estate of Laurel Harvest’s cultivation facility and Scranton dispensary.
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Words From The Company
“As the medical market continues to grow and as legislators develop plans for adult-use, we are increasing our depth in the key state of Pennsylvania to strengthen our wholesale leadership while growing profitability and scale through new retail. This acquisition will provide Cresco Labs with immediate incremental cultivation capacity, simplify our ability to expand production capacity further, and add six additional retail dispensary permits in the state,” said Charlie Bachtell, CEO of Cresco Labs.
Sundial Growers Inc.
Sundial Growers Inc. engages in the production and marketing of cannabis products for the adult-use market in Canada. It produces and distributes inhalable products, such as flower, pre-rolls, and vapes. The company offers its products under the Top Leaf, Sundial Cannabis, Palmetto, and Grasslands brands. On October 7th the company announced the closing of Alcanna Inc. With over 25 years of experience in retailing regulated products, Alcanna is Canada’s largest private liquor retailer.
Alcanna’s strategic partner, in which it holds an approximately 63% equity interest, Nova Cannabis Inc. The company Nova Cannabis Inc. is one of Canada’s largest cannabis retailers. The company offerers a wide range of high-quality cannabis products at value prices. Nova currently operates 62 stores across Alberta, Saskatchewan and Ontario. Which is done primarily under the “Value Buds” and “Nova Cannabis” banners.
Words From The CEO
“This made-in-Alberta transaction allows Sundial to further its mission to own the customer relationship and deliver sustainable value to shareholders,” said Zach George, Chief Executive Officer of Sundial. “Alcanna’s value-focused model in liquor retailing has created market stability and we believe that the replication of this playbook in cannabis has strong potential to drive a similar result. We intend to position all of our retail exposure for profitability and strive to work with Canadian licensed producers in order to delight consumers with quality cannabis products.”
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Words From Alcanna
“We believe this agreement is a testament to the value created by everyone at Alcanna and will be beneficial to all of our stakeholders,” said James Burns, Vice Chair and Chief Executive Officer of Alcanna. “As a company we have been successful at achieving customer loyalty, and operating at levels of efficiency that are industry-leading and Sundial will provide great opportunities as a larger and significantly more liquid company. We look forward to working with Sundial to complete this transaction.”
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