2 Marijuana Stocks To Watch Moving Into Next Month
Marijuana Stocks have been showing a bit more upward consistency in the market. In the last few weeks, cannabis stocks have been able to see more momentum from a slight pullback in trading. The cannabis sector as a whole is progressing and growing at a fast pace. In the last year alone over $17 billion has been generated in legal cannabis sales between medical and recreational.
With 2021 showing continuous sales this year may show even bigger numbers. What this does is show investors and mainly political figures that pushing for federal cannabis reform will be an advantage overall. Not just to grab a hold of the cannabis industry in its entirety but the cannabis tax money that is being generated. As well with federal reform in place, other bills can be passed such as cannabis banking.
With cannabis banking in place, it will be a big saving grace. The cannabis industry is mainly an all-cash business which can create certain risks. For example with running an all-cash operation, it makes those businesses potential targets for theft or other crimes. So by enacting a cannabis banking bill will help to solve that issue. Not to mention when laws are passed and news about further progress is released it can have a positive impact on marijuana stocks.
With what’s currently happening now in sectors between companies expanding operations and the sector recovering more people are looking to invest in cannabis. Just make sure you do your homework and weigh each investment option. Investing in all aspects is always a risk so make sure the right steps are taken to lower that risk to see the max gains possible. With this info, the cannabis stocks below may be good options to consider heading into July.
Marijuana Stocks To Watch Right Now
- GrowGeneration Corp. (NASDAQ:GRWG)
- The Scotts Miracle-Gro Company (NYSE:SMG)
[Read More] Best Ways To Invest In Top Marijuana Stocks In 2021? 5 Cannabis Stocks For Your Watchlist Next Week
GrowGeneration Corp.
GrowGeneration Corp. Is a unique cannabis stock to watch in the market and as a business. GrowGen runs its business as a hydroponic and organic gardening store across the United States. Over the last month or so GRWG stock went from dropping down most of May to seeing a recovery in June. From the middle to end of May GRWG stock began to see better trading overall.
From May 24th to the 28th of the month GRWG stock was able to see a nice run that generated gains of 20 percent at that time. Moving forward GRWG stock did encounter some volatility heading into June. This volatile trading led to a drop in trading for the first 15 days of June.
After this time trading began to rise once again for the company making an 8 percent increase for that time from the 15th to the 25th. Moving forward from June 25th to the 28th GRWG stock is currently up 9 percent. With better upward trading in place, more attention is surrounding this marijuana stock to watch heading into July. In the company’s most recent news announces inclusion in the Russell 2000 Index.
Words From The Company
Darren Lampert, CEO of GrowGeneration Corp., stated, “The inclusion in the Russell 2000 is a major corporate milestone and reflects the continued growth of our Company. GrowGen continues to focus on expanding the number of our hydroponic garden centers, while increasing revenue and net profit. We believe our Russell 2000 listing will increase long-term shareholder value by improving awareness, liquidity and appeal to institutional investors.”
The Scotts Miracle-Gro Company
The Scotts Miracle-Gro Company is involved in the cannabis industry through its subsidiary Hawthorne Gardening Company. Which is a hydroponic company that services the cultivators of the legal marijuana industry. In the last 4 weeks of trading SMG stock has run into issues in the market. For the entire month of May SMG stock was on a downtrend that is still occurring. Yet small jumps of momentum have happened it has not been enough to sustain better trading.
Even though SMG stock is slightly starting to rebuild some of its lost momentum. Back on June 10th the company’s subsidiary Hawthorne Gardening released some news. Hawthorne Gardening announced the first grantees of The Hawthorne Social Justice Fund within The Scotts Miracle-Gro Foundation. These organizations are leading the charge with criminal and social justice reform for the cannabis industry.
Words From The Hawthorne Gardening Company
“Our commitment to being a good company is what drove us to create The Hawthorne Social Justice Fund within The Scotts Miracle-Gro Foundation. As we announced earlier this year, the fund was established with an initial investment of $2.5 million to support non-profit organizations with cannabis social justice missions,” said Chris Hagedorn, Executive Vice President and Division President of Hawthorne. “This fund deepens Hawthorne’s commitment to spark change as policy reform advances across the country and states address the legacy of racial inequity tied to cannabis prohibition.
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