2 Marijuana Stocks To Start The Week Have You Heard Of Them?
As we start a new week of trading with marijuana stocks current and future investors are watching closely. For some time now the cannabis sector has needed more upward consistency. Prior to mid-February 2021, the way cannabis stocks performed for the most part was on a steady rise. Part of the issue is news and company updates are not resonating how they once were either. Although recently as marijuana companies have been reporting positive earnings it has helped a little bit. However, not exactly how it used to be.
There was a time if particular marijuana stock reported good earnings it would help other companies catch some momentum as well. Now, what is being valued a bit more than the current or prior market performance is how well the company is doing. Meaning most cannabis companies that are showing growth on top of steady profitability is usually a good gauge to use. Especially with the lack of upward momentum right now it seems to be more about planting seeds and waiting for better profits to bare. Currently, some cannabis companies even in a down market and a pandemic have still been able to keep business in the green.
The growth of the cannabis industry overall has been nonstop as progress and profits are being made every day. There are some who feel that the level at which most cannabis stocks are trading may be the norm. Even with federal cannabis reform being a potential reason to see the sector run those same people feel it won’t last. Regardless of what will happen most cannabis businesses are booming and giving more hope to future investors. As well with more states that cannabis may soon legally take over, it will only add more value to what’s next to come.
Top Marijuana Stocks To Watch In The Market Today
- Neptune Wellness Solutions Inc. (NASDAQ:NEPT)
- Sundial Growers Inc. (NASDAQ:SNDL)
Neptune Wellness Solutions Inc.
Neptune Wellness Solutions Inc. operates as an integrated health and wellness company. It builds a portfolio of lifestyle brands and consumer packaged goods products. The company offers turnkey product development and supply chain solutions to business customers in various health and wellness verticals, such as legal cannabis and hemp. In the last 8 weeks or so the company made some news updates. Back on August 2nd Neptune Wellness launches Mood Ring cannabis flower in Alberta.
Next, the company released its Q1 results. During this time the company reached a revenue of $12.4 million. This is in comparison to $11.2 million in the comparable period in the fiscal year 2021. These results exceeded a pre-announced revenue range of $10 to $12 million. First-quarter revenues of $12.4 million increased 83% versus revenues of $6.8 million in the fourth quarter of the fiscal year 2021.
Yet the company did encounter a net loss of $23.0 million. As well this is compared to a net loss of $11.4 million in the first quarter of the previous year. In more recent news the company has appointed John Wirt as General Counsel. As the Company’s General Counsel, Mr. Wirt will lead Neptune’s internal legal department. Which includes recent hire, Senior Vice President, Compliance and Legal Affairs, Gary S. Kaminsky.
NEPT Stock Performance And Market Update
In the last 4-6 weeks NEPT stock has been fighting to reach a higher market position. Around the 11th of August, NEPT stock started to see a drop in trading. This dip in trading lasted until the 18th of the month that was a slight turning point for this marijuana stock. This rise in trading began to see its descend on the 26th. After that time NEPT began to drop once more right before the start of September. For much of the trading in September NEPT stock followed its downward pattern in trading. However, in more recent trading, this pot stock to watch is up from its previous close on September 17th. With the start of a new week, it’s possible to see this company further its climb in the market.
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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. In some of the company’s more recent updates, it has announced the launch of the first Canadian caviar cone.
This particular product will be launched under the Top Leaf Brand. The Forbidden Lemon Caviar Cones will be the first caviar cone product to hit the Canadian market. This launch reinforces Sundial’s focused innovation pipeline around premium inhalables in the Canadian cannabis market.
Words From The CEO Of Sundial Growers Inc.
“Top Leaf’s brand promise is to deliver top quality inhalable products to consumers in the premium cannabis segment,” said Andrew Stordeur, President and Chief Operating Officer at Sundial. “In order to compete in this preferred segment of the cannabis industry, product quality is absolutely vital. Top Leaf’s Caviar Cones is the first of many high quality, high THC and flavourful products developed to satisfy even the most experienced cannabis user.”
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SNDL Stock Performance And Market Update
This marijuana stock since the middle of August and even before has followed a volatile pattern of trading. From mid-August, SNDL stock was pulling its self out of a downtrend. It took a few days but from the 19th to the 25th of August SNDL stock was able to see a bit of recovery from its drop. Although dipping at the end of august it was able to see another recovery moving into September. This rise was short-lived as from the 2nd of September SNDL stock has been trading down much of the month. Even with a small uptick in trading from its last close, some are remaining optimistic about this cannabis stock to watch in 2021.
