Top Marijuana Stocks To Buy This Week?
Marijuana stocks have seen a nice rise in trading during the first week of October. Although the upward rises still only last for a short period of time. This has made taking profits tough for some. Essentially the cannabis sector has seen a dramatic decrease since back in 2021. However, 2022 even at a lower trading average is still having better overall trading action.
Now back on Thursday President Biden made a big announcement in regard to forgiving low-level cannabis offenses. Once this news came out the majority of the cannabis sector saw a massive jump in trading. This allowed people who are invested in marijuana stocks to see good profits. The following day the momentum continued to stay up for a good amount of cannabis companies in the stock market. As the momentum is starting to rise hopefully this upward push will find a solid point that it does not fall back down.
Now the reality is that this upward push to find a point of sustainability may not happen. So if there is another decline it is best to find marijuana stocks to buy before the next recovery takes place. With how volatile the cannabis sector can be you want to put yourself in a position that allows you to take profits when the time comes. The companies below are several marijuana stocks to watch as a new week is soon to begin.
Marijuana Stocks To Watch In 2022
- GrowGeneration Corp. (NASDAQ:GRWG)
- Planet 13 Holdings Inc. (OTC:PLNHF)
GrowGeneration Corp. through its subsidiaries owns and operates retail hydroponic and organic gardening stores in the United States. On September 20th the company announced it is planning to open a new hydroponic garden center in Richmond, Virginia.
Additionally, the Company has signed two new leases in Mount Holly, New Jersey, and Hazelwood, Missouri. These stores are expected to open in the fourth quarter of 2022 and will expand Company operations into 17 states.
Words From The Company
Darren Lampert, CEO of GrowGeneration stated, “Our new 9,000 square foot store in Richmond, Virginia is the first of many GrowGen Hydroponic garden centers that will capture the emerging markets across the Southeastern United States. Virginia legislation allows for unlimited medical cultivation licenses and home growing making it an ideal market for GrowGen’s one-stop shop that provides new and existing cultivators seed-to-harvest solutions, including turnkey facility design, cultivation room design, and on-site project consultation. As well as access to the Company’s successful private-label products.
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Planet 13 Holdings Inc.
Planet 13 Holdings Inc. is an integrated cannabis company, that engages in the cultivation, production, distribution, and marketing of cannabis and cannabis-infused products for medical and retail cannabis markets in Nevada, the United States.
In recent news, the company announced the receipt of the necessary approvals to operate its 22,000-square-foot Nevada cultivation expansion. This will allow for the planting of the first harvest from new grow rooms ahead of the previously forecasted timeline of Q4 2022.
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Words From The CEO
“We are thrilled to be able to expand our supply of premium quality flower for our popular Medizin, TRENDI, and Leaf & Vine flower lines. The expanded cultivation will also support our TRENDI vape and concentrates and HaHa edibles which are among the top selling brands in their respective categories in Nevada,” said Larry Scheffler, Co-CEO of Planet 13
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