2 Marijuana Stocks For Your Upcoming Watchlist
As marijuana stocks work to build more momentum some companies are more buys than others. In almost that last year of trading, a lot of upward momentum has yet to be found. The reason for this drop in trading was created by certain factors that caused a long downtrend in the sector. After the second week of February is when the start of this downtrend occurred. Now at the time, there was doubt about investing in cannabis stocks. The cause for this uncertainty stemmed from federal cannabis reform being left stagnant with no real push.
Beyond the progress of more states going legal investors focused on other sectors building momentum. At end of July and heading into August the sector began to see a bit of upward momentum. In August many cannabis companies started releasing financial earnings. These updates showed positive results which helped so see some kind of increase in trading. Around this time some shareholders were able to see some kind of return on their investment. In recent trading, this upward push has been caused by a few things.
Largely it’s been the push to finally end marijuana prohibition in the United States. As of now, a considerable amount of attention is on the impending federal legislation of the cannabis industry. Currently, many top politicians trying to end cannabis prohibition. To which this has been an ongoing battle for many years and may finally become a reality. With the elimination of cannabis prohibition, many opportunities will soon arise for the entire cannabis industry.
Marijuana Stocks And Cannabis Reform In The USA
But particularly in the United States where the majority of the cannabis industry exists at the current time. Along with ending cannabis prohibition a bill to enact cannabis banking has also passed the House. Among these 2 pieces of legislation, if passed by the senate, it may be possible to see another increase in trading among the sector. However, this is not set in stone but many investors are watching the market to see what will happen. Below Are 2 marijuana stocks to watch in 2021.
Marijuana Stocks To Watch For Your October 2021 Watchlist
Greenlane Holdings Inc.
Greenlane Holdings Inc. sells cannabis accessories, child-resistant packaging, and specialty vaporization products in the United States, Canada, Europe, Australia, and South America. During the first week of October, the company announced it has appointed director Donald Hunter as Chairman of the Board. However, Aaron LoCascio, the former Chairman of the Board, will remain on the Company’s Board of Directors. Mr. Hunter’s appointment reaffirms Greenlane’s commitment to strong corporate governance and independent oversight.
Words From The CEO
“Over the years, Don has earned an impeccable reputation for having a strong, active, and independent voice in the boardroom,” said Nick Kovacevich, Chief Executive Officer of Greenlane. “I had the pleasure of witnessing this firsthand at KushCo, and now at Greenlane following the merger, where he is eager to continue delivering his strategic insights and guidance. Appointing an independent Chairman with Don’s credentials is a significant step in improving the Company’s corporate governance profile.”
GNLN Stock Performance And Market Update
In the last 4-6 weeks of trading GNLN stock has been working to build up more momentum. Prior to the start of September, the company was on a downward path in the market. When trading in September started the company started to recover a bit. But due to how volatile and unpredictable the market is most of the month was up and down for GNLN stock. Yet as of now in October GNLN has started to lose its momentum and has begun to dip. Still with more time left in October its still possible to see another recovery
Planet 13 Holdings Inc.
Planet 13 Holdings Inc. a cannabis company, cultivates, produces, distributes, and markets cannabis and cannabis-infused and related products for medical and retail cannabis markets in Nevada, the United States. In recent news, the company has announced it has completed the purchase of a license issued by the Florida Department of Health. This license is to operate as a Medical Marijuana Treatment Center in the State of Florida. Which cost the company US$55 million in cash to make happen.
Words From The CEO Of Planet 13 Holdings
“We are excited to get started building out our footprint in Florida. Initially, our focus will be on a network of high performing neighborhood stores modelled off our successful Medizin dispensary along with cultivation and production to bring our portfolio of top-selling products to Florida,” said Robert Groesbeck, Co-CEO of Planet 13. “As Florida gets closer to legalizing adult-use sales, we will start on our world-famous SuperStores in high traffic tourist destinations throughout the state.”
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