2 Marijuana Stocks For Your 2021 Watchlist
Right now some marijuana stocks are starting to pull back up in the market. In the last 2 months of trading, volatility has both been positive and negative. On the negative side volatile trading, most times leaves most marijuana stocks dropping in the market. Now on the other side of volatility is when it helps to increase the trading for some marijuana stocks. Volatility is defined as the amount of uncertainty or risk related to the size of changes in a security’s value. A higher volatility means that a security’s value can potentially be spread out over a larger range of values.
This means that the price of the security can change dramatically over a short time period in either direction. Right now in the market, it seems things are starting to swing up for some publicly traded companies. However, this isn’t for the bulk of the sector which investors would like to see. The thing with cannabis stocks is they all perform inside of an unpredictable market. So at times, it can be difficult to predict how a particular cannabis stock may trade. Especially with all the inconsistency throughout the sector over the last 8 or so.
With the sector trading at a lower level, people are looking to capitalize on this buying opportunity. Not because of the occasional upticks but for the possibility of a sector-wide breakout after the Senate one day votes to end cannabis prohibition. The reason for this is many feel the ending cannabis prohibition will be the fuel needed to see a run in the sector. For now many are keeping watch and looking for the best cannabis stocks to buy. Just make sure to conduct thorough due diligence. Down below are 2 pot stocks to watch for a potential increase in trading.
Top Marijuana Stocks To Watch Right Now
HEXO Corp. through its subsidiaries, produces, markets, and sells cannabis in Canada. It offers dried cannabis under the Time of Day and H2 lines; Elixir, a cannabis oil sublingual mist product line. As well as a Decarb, an activated fine-milled cannabis powder product. The company offers its adult-use and medical products under the HEXO brand name.
In the last month, the company has made some important updates. On October 6th the company and Molson Coors Beverage Company have embarked on a joint venture. This venture is in regards to the expansion of Veryvell CBD beverages. Following a successful Colorado launch in 2020, Truss CBD USA now expands Veryvell semi-nationally to be available in 17 states.
Words From The Company
“Veryvell is a truly remarkable product poised at the forefront of an emerging category of beverages,” said Jane Armstrong Hockman, Truss CBD USA general manager. “Truss successfully combined the extensive experience of Molson Coors and Hexo to create a great tasting, high-quality functional beverage line that resonated well with the Colorado consumer. We are thrilled to now provide individuals across the U.S. the opportunity to enjoy Veryvell as much as we do.”
“Veryvell is another great example of our commitment to expanding beyond beer. We have continually backed up this ambition by developing strong partnerships and launching new products. And today we’re thrilled to be expanding Veryvell through our Truss JV,” said Pete Marino, president of the emerging growth division for Molson Coors.
High Tide Inc.
High Tide Inc. operates as a vertically integrated company in the cannabis market in Canada, the United States, and internationally. It engages in the design, manufacture, and distribution of smoking accessories and cannabis lifestyle products. It is also involved in the wholesale and retailing of cannabis products, as well as operates and franchises licensed retail cannabis stores.
Also, the company provides data analytics services, as well as operates Grasscity.com and CBDcity.com platforms. On October 12th the company announced it has received approval for Canna Cabana Inc. to operate in British Columbia. Canna Cabana Inc., is now provincially licensed to operate in British Columbia. With this approval in hand, Canna Cabana Inc. is now able to proceed with site-specific license applications.
Words From The CEO
“I am delighted to share this very positive news of our approval to operate in the province of British Columbia with our shareholders today. I am very proud of our team’s perseverance over the last three years to achieve this major milestone. This approval allows us to expand into Canada’s third-most populous province which, being famous for its ‘BC Bud’, has a long history of accepting cannabis culture and was ground zero for legalization in Canada,” said Raj Grover President and Chief Executive Officer of High Tide. “I am thrilled that, very soon, BC residents and tourists will be able to enjoy an unparalleled selection of cannabis and consumption accessories at unbeatable prices through our signature one-stop shop experience. We will be strategic in selecting our BC locations in order to maximize our retail potential for years to come,” added Mr. Grover.
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