Do These Marijuana Stocks Have Longevity In The Cannabis Sector?
If you had the chance to invest in the best marijuana stocks which ones would you choose? Now before you make your selection on the best marijuana stocks to buy there are few things that need to happen. For starters, you are going to want to build a list of cannabis stocks to watch and then narrow that list down. This can be done by understanding the different pot stocks in the market. This can be done by knowing whether you want to invest in small mid or large-cap marijuana stocks.
Or are you looking to invest in cannabis companies that work in a specific area of the industry? When on your quest to pick the best marijuana stocks to buy there are a few niches to choose from. Are you interested in pure-play pot stocks or ancillary cannabis stocks or even ESP or MSO marijuana stocks? Each sector provides something different. Now some areas are more volatile than others and some areas or more long-term than short-term investments.
However, with how the cannabis sector has been performing in 2021 many people are now looking to fill up their portfolio with as many cannabis stocks as they can. There is much anticipation that the cannabis sector will see its best year yet. From mid-2020 to now much growth has taken place. Furthermore, you must always do your due diligence on any company before investing. This will ensure you make the best decision before investing. Below are 2 marijuana stocks that have the potential to see more market momentum in 2021.
Cannabis Stocks To Watch
Harborside Inc. is a vertically integrated cannabis company and is one of the longest-running cannabis dispensaries in California. Currently Harborside has operations in San Francisco Bay Area, Palm Springs. As well as a dispensary in Oregon and a cultivation/production facility in Salinas, California. In recent news 2 major departures have taken place for Harborside.
Just a few days into 2021 Steve DeAngelo who cofounded Harborside Inc. decided to step down. In addition to this Greg Sutton, Chief Operating Officer of Harborside has also stepped down from his position which is effective January 15, 2021. Although 2 important members have stepped down the company has been able to continue to perform well in the market.
Starting from mid-2020 HBORF stock has been able to pick up more momentum in the market. Looking back from August 8th to the 31st HBORF stock shot up by 98% during that time. However, dipping from the end of August the company continued to push. up in the market. From September 3rd to October 19th HBORF stock saw gains of 81%.
November 2nd to December 1st HBORF stock was able to break through market volatility and move up 21% in the market. So far in 2021 HBORF stock has picked momentum with gains of 48%. This recent push is a strong indicator that the company still has solid growth potential. So with this Harborside Inc. continues to be a marijuana stock to watch in 2021.
OrganiGram Holdings Inc.
Throughout 2020 and into 2021 Organigram Holdings Inc. is one of many marijuana stocks that have been battling market volatility. Even though the company was in a volatile position some gains were made along the way. On August 6th OGI stock started to move up a bit in the market. From this point to August 18th OGI stock saw subtle gains of 16.8%. However, trading down from that time period the company was able to recover.
At the end of September, OGI stock had a share price of $1.05 that shot up 14% by the end of October. This price movement is indicating that this marijuana stock may be more of a short-term investment. This is because of how up and down the OGI stock fluctuates in the market. In 2021 OGI stock has managed to climb as it looks to reach previous 2020 highs. Looking at the end of December to the company’s current share price OGI stock is up 30%.
OrganiGram Holdings Inc. News And Updates
In recent news, the company has announced they have selected Marni Wieshofer, to the Company’s Board of Directors. Ms. Wieshofer is Organigram’s first U.S. domiciled director. In addition to this, the company has also released its first-quarter fiscal 2021 results. For OrganiGram’s 2021 Q1 fiscal highlights the company did post some small losses.
The company’s in Q1 2021 had gross revenue of $25.3 million. This is in comparison to $28.4 million back in Q1 2020 which is an 11% drop. Moving forward Organigram’s net revenue dropped 23% going from $25,153 in 2020 to $19,331 in 2021. Yet on a positive note, here’s what the Organigram had to say on these results.
“We are pleased with our double-digit sales growth in the Canadian adult-use recreational market this past quarter as it reflects the success of many of our new product launches, particularly in the dried flower value segment,” said Greg Engel, CEO. “Now we look forward to our new higher margin Edison dried flower offerings contributing substantially to overall revenue with even more new products to come in the next few quarters. We believe our product portfolio revitalization combined with additional resources to ramp up production and achieve greater economies of scale as well as our relentless focus on increased automation and cost efficiency opportunities position us well to generate further top-line growth and significantly improve gross margins.”