2 Marijuana Stocks To Watch In The 2nd Week Of August
Over the last several month’s marijuana stocks have been moving up and down in the market. Much of this volatile trading can be attributed to a few factors. For one there is a growing amount of uncertainty and skepticism around marijuana stocks. This stems from the downtrend that took place from the middle of February till right around the end of April.
Even with the market trading at a lower average more action is starting to happen. Now this action comes in the form of some volatile trading. What this means is a particular company may be trading up and down and some people are able to get in on the dip and exit on the bounce. Another factor to this volatile trading is simply how unpredictable the sector is. When investors and shareholders are unsure they will most time hold their position or sell it.
It seems some of this downward volatility is also coming from people selling off their shares which would drive the price of that cannabis stock down. Another factor that may play a part is the push for federal cannabis reform. Many marijuana companies are in need of better cannabis reform to which federal legalization is the key. By ending cannabis prohibition in the U.S. it would open many doors for marijuana companies that were once closed due to federal law.
But even with the cannabis industry still thriving and growing it has not resonated amongst the sector as it did before mid-February. Nonetheless, more action is taking place to a degree as some analysts feel the sector will return back to previous trading levels before the downtrend. Even if it’s not a full recovery with how the sector is trading now is a good time to find top marijuana stocks to buy.
Marijuana Stocks To Watch This Month
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Lowell Farms Inc.
Lowell Farms Inc. engages in the cultivation, extraction, processing, manufacturing, branding, packaging, and wholesale distribution of cannabis products to retail dispensaries in California. The company was formerly known as Indus Holdings, Inc. and changed its name to Lowell Farms Inc. in March 2021. Back in May trading for the company started on a volatile downward path.
At the start of May, LOWLF stock was losing a bit of its previous trading momentum. For the first 2 weeks of May, LOWLF stock was not able to reach a higher market position. Yet from the 14th of May to the end of the month LOWLF stock began to see a rise in trading. During this time the company was able to see a 14 percent increase before moving into June. In June trading continued to drop for LOWLF stock even with some small upticks on the way down.
Now at the end of the month moving into July, the company did see a bounce in trading. For LOWLF stock in the first week of July, things were looking good as the company was able to maintain its momentum in the market. Currently, in August things are still a little volatile for the company. But with more time left in the month hopefully, things push back up for this marijuana stock to watch.
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MediPharm Labs Corp.
MediPharm Labs Corp. together with its subsidiaries, produces and sells pharmaceutical-grade cannabis oil and concentrates, and advance derivative products in Canada and Australia. It formulates, processes, packages, and distributes cannabis extracts and cannabinoid-based products. Since the start of May MEDIF stock has been a bit flat for the first half of the month.
It wasn’t until the 13th of May when the company began to build more momentum and started rise back up in the market. From the 13th of May to the end of the month MEDIF stock saw gains of 43 percent for that time. When the start of June took place trading for the company MEDIF started to lose a little of its trading momentum. At the begging of June, MEDIF stock started to fall. Now like many stocks that fall in this sector small spikes did occur on the drop.
Much of this trading pattern took place the whole time in June and even followed in July. Unfortunately, even with some upticks in trading during this downtrend, MEDIF could not sustain it to reach a better market position. Currently, in August the company has been trying to find more momentum so it can find better trading.
As of now, MEDIF stock is still down but some feel this will eventually turn around and the company will rise again. With the current state of the cannabis sector now may be a good time to add more marijuana stocks like this to your investment portfolio. With more progress and growth in the cannabis industry, more people are searching for ways to become involved in the sectors.
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