2 Marijuana Stocks That Cannabis Investors Are Talking About
Marijuana stocks have started trading in a new month and so far things are building up with more momentum. Now even with the market being incredibly volatile these last few months this initial rise in the sector is a good way to begin August. Many investors and shareholders are watching to see what will change for the sector as far as reaching higher market levels. Right now the entire sector is performing at a lower level but some upward trading has been in favor of some investors.
Some analysts feel that marijuana stocks will at some point trade back at the levels prior to the downtrend. Currently, the overall industry is still flourishing and showing solid growth potential. What may help some cannabis stocks find some upward momentum is more companies are releasing earnings reports. When one cannabis company announces positive earnings it can help create some upward trading amongst marijuana stocks.
Not just that currently in the cannabis industry there is an even bigger push for more comprehensive reform. For example, right now many politicians are working on passing some type of federal cannabis reform. As well as the fight to enacted cannabis banking reform that would allow banks to work with cannabis businesses legally. If and when any of these 2 potential laws are passed it may cause some pot stocks to run.
Cannabis Stocks And Market Update
Not to mention more states in 2021 are soon to vote on legalizing marijuana in some form whether medicinal or recreational. This overall progress only adds more value and further development to the cannabis industry. The more progress that takes place the more people will want to become invested. So far in just this last year, more revenue has been made from legal cannabis with those numbers only increasing with each new state.
Marijuana Stocks To Watch In 2021
Jushi Holdings Inc.
Jushi Holdings Inc. a vertically integrated cannabis company, engages in the cultivation, processing, retail, and distribution of medical and adult-use products. It focuses on building a portfolio of cannabis assets in various jurisdictions in Pennsylvania, Virginia, Ohio, Illinois, California, Nevada, and Massachusetts. In the last 4 weeks of trading, JUSHF stock has continued its volatile downtrend.
Yet towards the end of July JUSHF stock was able to achieve a small pick up in trading heading into August. Currently, the company is working to maintain its momentum to further its climb in the market. In recent news, the company has released info about pre-announcing its second-quarter 2021 financial results.
Some highlights to note for Q2 are the company had an Adjusted EBITDA(A) of $4.6 million. The next thing to point out is the company’s revenue was $47.7 million. Which counts for a 14.6 percent increase over the first quarter of 2021 and 219.7% year over year. As well the company also did suffer a net loss of $11.4 million. However, this was a $15.4 million improvement over the first quarter of 2021.
Words From The Company
“Our second quarter 2021 results demonstrate the strength of our operations, with solid organic revenue growth at the high end of our guidance range and Adjusted EBITDA(A) in-line with our expectations,” said Jim Cacioppo, Chief Executive Officer, Chairman and Founder of Jushi. “With 20 stores open, four cultivation and production facilities in operation and a diversified medical and consumer brand portfolio, we have built a national footprint for long-term success.2 Marijuana Stocks That May End Up On Your August Watchlist
[Read More] 2 Top Marijuana Stocks To Watch In August 2021
Harvest Health & Recreation Inc.
Harvest Health & Recreation Inc. together with its subsidiaries, cultivates, processes, sells, and retails inhalable, ingestible, and topical cannabis products in the United States. In the last 4-8 weeks of trading, the company has experienced some volatile action in the market. From the very start of May HRVSF stock began the month on a strong upward run.
Going from April 30th to the 14th HRVSF stock shot up by 46 percent not a bad way to start a new month of trading. Now continuing further into the month HRVSF stock was able to maintain its market position for the most part outside of some small dips. At the start of June trading for the company continued to stay at the same level as back in May. Yet from the 7th of June to the 18th the company started to lose some of its upward trading momentum.
However, from this point, the company was able to recover and push back up in trading. From the 18th of June to the 25th HRVSF stock was able to see a 9 percent rise in trading. However, once trading in July was underway things began to change for the company.
In July HRSVF stock was not able to continue to sustain its trading and started to fall. Yet in the last few days of trading in July HRSVF stock did find some momentum. Currently in August HRSVF stock is still showing signs of solid trading momentum. Which may help further the company’s climb in the market.
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