2 Marijuana Stocks To Watch This Month
Now that trading in June has started marijuana stocks are still picking up more momentum. So far cannabis stocks are sustaining their momentum even though it’s only the first day of the month. Some analysts have gone on to say that this month will be a better month for marijuana stocks. Due to the recent downtrend in the sector, many cannabis stocks are still recovering.
Even though cannabis stocks are beginning to pick up in trading there is still a long way to go. The reason being is the sector fell so much that even with this current rise in trading it’s not at a level to call it a real recovery. For example, the drop in trading was so heavy that investors who bought the first round of dips eventually dropped even lower.
So some shareholders are now stuck waiting for a bigger pullup in trading before they can take profits. During this 3 month downtrend, some shareholders tried to either break even or cut their losses. But for those who are still in their position and are remaining patient may see a nice return. Especially once things recover even further.
Beyond just cannabis stocks the cannabis industry and its entirety is still growing at a fast rate. In 2021 there has been a big push for nationwide cannabis reform. In addition to state-level marijuana laws. Right now more than half of the United States have legalized cannabis in some form.
More than just adding overall value to the industry from an economic standpoint legal markets can help improve the U.S. in many ways. Such as social equity and more job opportunities for those who are looking for work to name a few. With more innovation and growth comes even more progress for the cannabis industry in 2021.
Marijuana Stocks June Watchlist
Ayr Wellness Inc.
Ayr Wellness Inc. is one of the few marijuana that is a bit under the radar due to its lack of attention. For those that don’t know Ayr Wellness Inc. is a vertically integrated cannabis multi-state operator. The company cultivates, extracts, manufactures, distributes, and retails cannabis products. As well as working with branded cannabis packaged goods.
In recent trading, the company has been able to recover a bit better than other cannabis stocks. Even though AYRWF stock is currently down the end of May was a good time for trading for the company. From May 19th to the 28th AYTWF stock jumped up 13.25 percent before dipping back down on June 1st. The goal for any good investors is to remain patient till things rebound further for AYRWF stock.
In the last month, the company has released some important news. On May 18th Ayr Wellness announced the opening of its new dispensary in Florida City, Florida. Following this news on the 24th, the company also announced the launch of the Origyn Concentrate line in Florida. This new product line will be the first of many Ayr brands to launch in the state.
Pushing forward on May 26th the company released its first-quarter 2021 results. Some highlights from this time are the company its Q1 revenue is up 74 percent year over year to $58.4 million. As well the company closed on the acquisition of Liberty Health Sciences. Which now adds 42 Sited Retail Dispensaries, and makes them the fourth largest footprint in Florida.
Words From The Company
“Q1 2021 represents the early innings of our 2021 strategic transformation, as we successfully closed on our announced acquisitions as scheduled, starting with the February 25th closing of our acquisition of Liberty Health Sciences, adding the fourth largest retail footprint in Florida,” said Jonathan Sandelman, CEO of Ayr Wellness.
TILT Holdings Inc.
TILT Holdings Inc. is a cannabis company that is a global provider of cannabis business solutions. This involves inhalation technologies, cultivation, manufacturing, processing, brand development, and retail. Over the last month of trading TLLTF stock has been able to climb back to previous trading levels at the start of May. However during this past month, TLLTF stock did drop in trading. However, towards the last half of May TLLTF began to climb once more.
From May 13th to June 1st TLLTF stock has climbed 23 percent in the market. As trading in June has officially started it’s possible to see this uptick continue as time goes on. In recent news, the company has released its Q1 2021 financial earnings. In that time the company generated a record first-quarter revenue of $46.8 Million. This puts the company up 15 percent YoY and 11 percent quarter over quarter. TILT Holdings also hit a record Adjusted EBITDA of $6.2 million. This makes for a YoY increase of 28 percent and 36 percent quarter over quarter.
Words From The President of TILT Holdings Inc.
“Our first quarter results reflect another period of strong execution as we continue to build an integrated B2B cannabis company that partners with leading MSOs, LPs and cannabis brands,” said Gary Santo, President of TILT. “The results of that execution and our team’s hard work show up where it matters—in the numbers.
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