2 Marijuana Stocks To Watch Heading Into Next Month
A bulk of marijuana stocks are starting to see the upside of market volatility. More times than not when the cannabis sector is performing with volatility it typically ends up in a loss of momentum. But nevertheless, cannabis stocks are using the recent momentum from this past about the House passing the SAFE Banking Act. The passing of the cannabis baking measure is because it is a part of the defense bill. With the speculation of what may soon come it has created a good amount of positive momentum.
So with the start of a new week, some cannabis companies are still feeling this upward push. As well the day after the House passed the defense bill a proposal to federally legalize cannabis has also been sent to the House. This particular cannabis bill is said to be voted on as early as this week. If this bill passes the House as it did last year it will possibly have an even bigger upward impact on many marijuana stocks. Right now that is the big focus of the cannabis industry.
Many marijuana companies are in need of cannabis banking and the termination of marijuana prohibition. If any of these 2 bills make it past the senate it will open up many doors that were once closed due to federal law. Currently, there is still time left to find the best marijuana stocks to buy in 2021. As of the open on the 27th some pot stocks are facing some slight pullback. However, as mentioned above with the possible passing of a new federal reform bill it may help to see another potential jump in trading in the near future. Just remember to do your homework beforehand. Below are 2 marijuana stocks to watch that could be good investments.
Top Marijuana Stocks To Watch In Today’s Market
Cresco Labs Inc.
Cresco Labs Inc. together with its subsidiaries cultivates, manufactures, and sells retail and medical cannabis products in the United States. Over the last 4-6 weeks the company has released some important company info. Back on September 3rd, the company announced the closing on the acquisition of Cultivate. This venture has further strengthened its position in the Massachusetts cannabis market.
Some highlights of this are having approximately 42,000 square feet of active flowering canopy. As well the company will have three operational dispensaries. Their locations will be in Leicester, Framingham, and Worcester, bringing combined retail storefronts in-state to four. In more recent news the company also announced the acquisition of three high-performing Pennsylvania dispensaries. This transaction is expected to close in Q4 of 2021.
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Words From The Company
“As we implement localization strategies tailored to state level dynamics, this Transaction with Cure Penn is expected to expand our retail footprint in Pennsylvania, increase profitability, and strengthen our wholesale leadership position in the state. We’re thrilled to continue executing our playbook of achieving depth in strategic markets via rigorous capital allocation,” said Charlie Bachtell, CEO and Co-Founder of Cresco Labs.
More Words From Cresco Labs Inc.
“The Cure Penn team has developed a high-performing retail platform across three dispensaries that sets up another immediately accretive acquisition for Cresco Labs. We’ve proven our ability to drive incremental top and bottom-line growth from the implementation of Sunnyside’s best-in-class operating model, and we look forward to growing our house of brands which are already among the most sought after by patients in Pennsylvania.”
[Read More] Top Marijuana Stocks To Watch In The US Cannabis Industry
Columbia Care Inc.
Columbia Care Inc. cultivates, manufactures, and provides cannabis-based health and wellness solutions, and derivative products. The company holds licenses in 19 jurisdictions in the United States and the European Union. It operates cultivation facilities, manufacturing facilities, and retail dispensaries. On September 2nd the company announced some crucial news. The company received approval from the Florida Department of Health’s Office of Medical Marijuana Use to operate as Cannabist. 
Effective immediately, Columbia Care’s 14 dispensary locations across the state will be renamed to Cannabist. Columbia Care has more than 100,000 square feet of cultivation and manufacturing capacity in the state. Which includes more than 38,000 square feet of greenhouse space in Alachua that completed its first harvest in June.
Words From The CEO Of Columbia Care Inc.
“This approval signals the next chapter for our footprint and development in Florida,” said Jesse Channon, Columbia Care’s Chief Growth Officer. “Since the beginning of the year, we have introduced a number of new products, such as edibles, and patients now have more than 100 products to choose from across our 14 locations. We are grateful to the State’s Office of Medical Marijuana Use who supported us in this decision and look forward to building on the momentum to share the true Cannabist experience with Floridians over the coming months.”
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