2 Marijuana Stocks To Watch Before Next Month
With the start of the new week comes the potential for marijuana stocks to continue to recover. A great deal of anticaption is set for the last week of May. Many cannabis stocks to watch are working on sustaining any current momentum before the start of June. Just like some analysts predicted May would be a turning point for cannabis stocks. So heading into next month June could be a less volatile month with better upward trading. At the start of May not, all cannabis stocks were able to recover.
Within the first week or so of May, many marijuana stocks were still not seeing a big push in the market. However, heading into the second week of May marijuana stocks started to show a bit more volatility when trading. Yet even with small moments of upward trading much of this rise was short-lived. But even with many cannabis stocks fluctuating in price it still more action that happened in the market over the past 3 months.
Those who do invest in marijuana stocks know that since the second week of February its been a wild downtrend in trading. This has led to shareholders feeling a bit uncertain about how to trade their position. As well it also created a 3-month long opportunity for those looking for top marijuana stocks to buy. The issue now is holding the position till the sector rises to a level that will make shareholders a nice return.
The cannabis industry as a whole has not been affected by the recent downtrend. Instead, the industry has been moving more progressively. For instance, more states are going legal and more companies are growing through mergers and acquisitions. The rest of 2021 is shaping up to solid time for legal cannabis overall. So with this many investors will be looking to get involved.
Marijuana Stocks To Watch This Week
Green Thumb Industries Inc.
Green Thumb Industries Inc. has been one of the top marijuana stocks to watch for some time. The company has been working on many ventures especially with the Cookies brand. Recently Green Thumb and Burner opened up a new Cookies dispensary in Las Vegas. The company is one of the few companies that has continued to show progress even with a drop in the sector. Back on May 12th, the company released its Q1 earnings for 2021.
“We are excited to expand our east coast footprint by signing an agreement to enter the Virginia cannabis market. This follows the recent sweep of adult use legalization measures across Virginia, New York and New Jersey where we see material untapped market potential. Our recent debt financing at industry leading rates positions us to capitalize on the opportunities ahead. A strong balance sheet, supported by a low cost of capital, is key to staying ahead in this fast-paced new industry. Green Thumb Chairman, Founder and Chief Executive Officer Ben Kovler.
Yet again the company was able to show positive results which have led to seeing a rise in trading for GTBIF stock. Over the last week in trading GTBIF stock has started to rise back up in the market. From the 19th of May to the 21st GTBIF has shown more momentum in the market. With that last week of May coming up shareholders hope to see GTBIF further recover.
Greenlane Holdings, Inc.
Greenlane Holdings, Inc. is one of the largest sellers of premium cannabis accessories. As well as child-resistant packaging, and specialty vaporization products. Last week The company released its Q1 financials. During this time Greenlane achieved its second consecutive quarter of record revenue.
Also, the company Acquired Eyce, the world’s leading brand of silicone smoking products. So far this year a big move for the company has been a definitive merger agreement between Greenlane and KushCo Holdings, Inc. This merger will make it the largest ancillary company in the cannabis industry.
“Our first quarter 2021 results demonstrate our continued forward momentum on the heels of a successful 2020,” said Aaron LoCascio, Greenlane’s Chairman and Chief Executive Officer. “This quarter saw significant progress on the execution of one of our key growth strategies, with the acquisition of Eyce, further adding to our portfolio of premium owned brands and the announcement of our impending transformative merger with KushCo. During the quarter we also saw further proof our strategy to focus on growing our portfolio of owned brands is delivering significant results as we transition away from lower-margin revenue categories, with our Greenlane Brands accounting for a quarter of our revenue in the first quarter of 2021.
In the last few weeks of trading GNLN stock has had trouble reaching a higher market level. Since back in February GNLN stock has dropped significantly. Even with a small uptick, this past week GNLN stock is still in the red. The hope most shareholders have is GNLN stock will start to recover heading into June.