Top Marijuana Stocks To Watch For Your October Watchlist
With marijuana stocks still showing up and down, trading pattern investors are still keeping a watchful eye on the market. The volatile market in which marijuana stocks perform has been trading at lower levels. This dip in trading has created an opportunity for some to buy top marijuana stocks. From the second week of February, the cannabis sector as a whole has seen a big drop in trading. Beyond creating a great amount of uncertainty for some investors others have been taking advantage. This advantage has come in the form of top cannabis stock trading at lower market prices.
Even though in the last 2 months some better momentum has led to small upward jumps in trading. This recent increase in trading has come due to several factors. Starting from August many cannabis companies began to release their updated financials. With most cannabis companies at that time showing more positive results it helped drive some much-needed upward momentum in the sector. Another big factor that has helped in a major way is the push for federal cannabis reform. This has come in 2 different ways one has been for cannabis banking and the other federal cannabis legalization.
This past month the House passed a defense bill with a cannabis banking measure attached. On the day this bill was passed it created a good amount of upward trading. In addition to this, the House passed another bill to yet again attempt to legalize cannabis federally. However, at the same time, Chuck Schumer made an announcement that he would block the SAFE Baking measure before passing more comprehensive reform. Meaning a bill to deschedule cannabis or legalize it overall. This anticipation is keeping those invested in the cannabis industry on their feet. Below are 2 marijuana stocks to watch this week.
Top Marijuana Stocks To Watch Right Now In 2021
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. The company provides vaporizers, liquid nicotine, storage solutions, pipes, apparel lines, and consumption accessories. Starting from the end of August the company has made some important news updates. Back on the 26th of August, the company announced that shareholders have cast their vote to approve its merger with KushCo.
Following this news release, the company furthered announced at the start of September they have completed its previously announced merger. This venture between Greenlane and KushCo is creating the largest ancillary marijuana companies in the sector. With this merger comes a strong portfolio of house brands. This move implements a strong executive leadership team. As well the company will appoint three new directors.
Words From The Company
“I am thrilled by the strong support our customers, employees, and shareholders have shown for this transformative merger and excited to welcome Nick and our new colleagues to the Greenlane team,” said Aaron LoCascio, Co-Founder and President of Greenlane. “I am convinced that together we will continue to drive innovation and build the industry’s leading ancillary cannabis company that is incredibly well positioned to provide both exceptional service to our customers and create long term value for our shareholders.”
GNLN Stock Performance And Market Update
In the last 4 weeks of trading GNLN stock has been performing with a bit of volatility. Initially at the start of September GNLN stock was moving up in the market. GNLN stock went from $2.40on the 1st to $2.78 on the 7th. Yet after this time the company did see s a slight drop in trading before recovering from the 9th to the 10th. Since that time the company has continued to show an up and down pattern of trading. At the end of the month, GNLN stock was moving back up in the market and so far momentum is still building in October.
Cresco Labs Inc.
Cresco Labs Inc. together with its subsidiaries cultivates, manufactures, and sells retail and medical cannabis products in the United States. It provides cannabis in flowers, vape pens, live resins, disposable pens, and extracts under the Cresco brand.
In recent company news, Cresco Labs announced it will be releasing its Q3 financial results on November 11th. In more current developments the company has shifted to its own brand distribution in California. This will help to increase profitability as well as to reduce 3rd party distribution.
Words From The CEO
“California became a foundational state for Cresco Labs early in 2020, as we began operating the Continuum distribution platform to bring a curated portfolio of leading brands to California retailers. Thanks to partnerships with top-performing brands like Kings Garden, we have achieved significant scale and penetration in the state. The progression of our distribution strategy has led to owned-brand FloraCal now consistently landing among the top-15 flower brands in California and Cresco Liquid Live Resin among the top-10 live resin brands,” said Charlie Bachtell, CEO and Co-Founder of Cresco Labs.
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