2 Marijuana Stocks To Watch As The Sector Recovers
Currently, in the market many marijuana stocks struggling to see consistency in upward trading. At the start of August, things were looking up for the sector. Yet at the moment that is not the case as volatility has taken hold. As well companies are getting ready to release earnings which may add some good trading momentum if those earnings are positive.
The cannabis industry as a whole is still young and growing and developing day by day. Many new people are building more interest in investing in legal cannabis. The legal cannabis industry has generated large amounts of revenue which for some states is being put to good use. In some legal states, the tax money made from legal marijuana sales is being used to find state-wide programs.
These programs that are being funded through legal cannabis are being used to help rebuild areas that were impacted by the war on drugs. These programs will also be used to promote the importance of social equity. Beyond just investing and trading cannabis stocks outside of the market a lot of proactive events are taking place. For example, a big fight for better cannabis legislation especially federal cannabis reform. With cannabis either being rescheduled or legalized federally outright it will be a big and necessary change for the entire industry.
Federal reform will create more opportunities that were once deemed illegal due to federal restrictions. Not to mentions the possible increase in trading, it may cause in the market for many marijuana stocks. Yet there is no way to know for sure but what is known is that cannabis should 100 percent be federally legal or rescheduled. Currently in 2021 big political figures are fighting for comprehensive reform. With this people will be keeping an out for chances to invest.
Top Marijuana Stocks To Watch This Month
Innovative Industrial Properties, Inc.
Innovative Industrial Properties, Inc. is a self-advised Maryland corporation focused on the acquisition, ownership, and management of specialized properties leased to experienced, state-licensed operators for their regulated medical-use cannabis facilities. In the last 3 months of trading, IIPR stock has picked up a great deal of upward momentum. In the beginning of May IIPR stock has been fluctuating in price a bit more frequently.
The initial start to May IIPR stock was trading down but right after the 5th, the company starting moving back up. Yet on the 7th of May, the company once again started to lose its position in the market. However, starting from the middle of May is when IIPR stock would begin its run. From May 13th to the close of the month IIPR stock jumped 7 percent up in trading before the start of June. IIPR stock continued to climb the entire month of June and even in July.
Now during June and July, some small pullbacks did occur. Yet overall in those 2 months, IIPR stock increased its market position by 16 percent. This displayed solid growth potential for the company and currently IIPR stock has reached new all-time highs. In the recent news, the company has released its Q2 2021 earnings.
Some key highlights are the company recorded net income attributable to common stockholders of approximately $29.0 million for the quarter. As well the company generated total revenue of approximately $48.9 million in the quarter. This represents a 101% increase from the prior year’s second quarter. With more progress for the Innovative Industrial Properties, Inc. 2021 so far is looking good for this marijuana stock to watch.
AdvisorShares Pure US Cannabis ETF
AdvisorShares Pure US Cannabis ETF is the first and only actively managed ETF that invests solely in U.S.-based companies that operate in the cannabis industry. Since it’s actively managed, it can adapt and create investment strategies according to the market cycles. Recently, the fund surpassed the $1 billion mark in assets under management.
This fund focuses on cannabis securities that are involved in agriculture, pharmaceutical, biotechnology, and other medical applications of cannabis. In the last 2-3 months of trading, MSOS has been performing with a good amount of volatility. At the start of May, things were looking good for MSOS. Yet further into the weel things began to change for this ETF.
MSOS after the 3rd of May started to drop in the market. However, from May 13th to the 27th, a small pick-up trading occurred before the start of June. In June MSOS started to fall once more and continued to trade down until the end of the month. Looking from June 22nd to the 30 MSOS saw a small rise in trading moving in July.
Trading at the start of July for MSOS was still at the same level as the last day of June. Meaning even though its market position was not the highest it was at promoting level to build from. Unfortunately, MSOS was not able to sustain any solid upward momentum in July. But currently, in August this ETF is beginning to rise once again.
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