These Marijuana Stocks Are Gaining More Attention In The Market
It seems as if volatility is a marijuana stock’s best friend with how the cannabis sector currently performing. On the open of the 26th of August, cannabis stocks saw a bit of relief with the sector looking a bit more green. Now how long will this upward push last is hard to tell? But overall having a day of upward trading is better than not having one at all. Yet even with the sector having some days of better trading, there are cannabis stocks that are still showing good entry points.
Essentially what this means is as the sector shows more upward consistency there are still good marijuana stocks to buy. Right now the bulk of marijuana stocks even those on the rise could still be cheap enough to add to one’s portfolio. The reason for this is the current average in which marijuana stocks are trading is considerably lower than at the start of 2021.
So with having some of the top cannabis stocks in your portfolio even as the climb now may yield bigger returns as the sector rises. However once again there is no way to know if and when this will happen. But for some investors, it’s better to be prepared than to miss a chance to make a nice profit.
Marijuana Stocks And Cannabis Industry Updates
Right now many cannabis companies are releasing earnings and positive news about expanding. These company updates have played a part in the current uptick. Yet this same news a year ago used to cause even bigger climbs amongst pot stocks. Now, what investors and people of the cannabis industry want to see is passing some type of federal reform. Not only do some feel this will save the US cannabis industry but some feel this will help the sector rise significantly when the time comes.
Top Marijuana Stocks To Watch Right Now
Hydrofarm Holdings Group, Inc.
Hydrofarm Holdings Group, Inc. together with its subsidiaries, engages in the manufacture and distribution of controlled environment agriculture (CEA) equipment and supplies. Which is used throughout the United States and Canada. The company offers agricultural lighting devices, indoor climate control equipment. As well as hydroponics and nutrients, and plant additives used to grow, farm, and cultivate cannabis.
As well as to flowers, fruits, plants, vegetables, grains, and herbs in a controlled environment. In the company’s most recent news released its Q2 2021 earnings. In Q2 the company’s net sales increased 46.7% to $133.8 million. Which is in comparison to $91.2 million. As well Hydrofarms gross profit went up 65.5% to $29.6 million, compared to $17.9 million, or 19.6% of net sales. As well the company also had an Adjusted EBITDA(2) increased 127.5% to $16.2 million compared to $7.1 million.
Words From The Company
Bill Toler, Chairman and Chief Executive Officer of Hydrofarm, said, “We maintained momentum during the second quarter, as demonstrated by 47% increase in our top-line and significant improvement in our Adjusted EBITDA, which more than doubled on a dollar basis and increased considerably on margin basis. Our team also successfully executed against our acquisition strategy, completing four acquisitions during and subsequent to the second quarter, bringing four fantastic businesses in the nutrient and grow media categories under the Hydrofarm umbrella. These acquisitions not only help expand our proprietary consumable offerings and manufacturing prowess, but also demonstrate our position as the acquirer of choice in this highly fragmented industry.
HYMF Stock Performance And Market Update
So far in the last 4-6 weeks of trading HYMF stock has been faced with some ups and downs in the market. In the first 10 days of August, the company was holding a promising market position. Yet after this time HYMF stock having issues sustaining its momentum.
This loss in momentum led to a drop in trading which lasted until the 19th. However, from this point, HYMF stock started to climb once more and is now up from previous lows. Investors are watching to see if this marijuana stock can keep this climb going heading into September.
Curaleaf Holdings, Inc.
Curaleaf Holdings, Inc. operates as an integrated medical and wellness cannabis operator in the United States. It operates in two segments, Cannabis Operations, and Non-Cannabis Operations. In the last few weeks, Curaleaf has announced some important updates.
Earlier in August, the company released its Q2 2021 earnings to which the company reported record results. In more recent news Curaleaf announced the opening of Curaleaf Bordentown. This makes for the company’s 109th dispensary nationwide. The Company also announced the launch of its Select brand in New Jersey, expanding the brand’s reach to 19 states.
Words From Curaleaf Holdings Inc.
“It has been a privilege to serve New Jersey’s medical community over the past six years, and we look forward to forging new patient connections in Bordentown, generating new economic opportunities and delivering exceptional retail experiences as this market continues to mature,” said Patrik Jonsson, Curaleaf Regional President, Northeast. “We are also excited to expand our Select retail footprint and introduce Select Bites to new patient and consumer audiences.”
CURLF Stock Performance And Market Update
During the month of August CURLF stock was impacted by the volatile trading in the cannabis sector. In the first week of trading, CURLF stock was fluctuating in price quite often. From the 2nd of August to the 4th CURLF stock began to dip. Yet after the 4th, the company started to rise once more. CURLF stock was able to sustain its upward trading until the 13th of the month right after this time the company began to drop back down. This drop lasted until the 20th of the month and as of now, CURLF stock has started to recover again. But will these marijuana stocks be able to keep this climb going which is what investors want to know?