Are These 2 Under $6 Marijuana Stocks Worth Buying In 2021?
Marijuana stock investors are a bit at a standstill at the moment. The reason for this is due to the current pullback in the market. Now even with more time to buy top marijuana stocks at good entry points, shareholders want to see a rise. Yet the problem isn’t so much a market issue or the cannabis companies themselves. Much of this pullback is from the battle to enact federal cannabis reform.
The battle to end cannabis prohibition has amassed large bipartisan support. Overall this is a huge plus but the downside is each political party is now rushing to be the first to enact the policy change. Currently, a defense bill will be voted on before 2022, and attached to it is a cannabis banking measure. Both Democrats and Republicans are working on reform that includes banking legislation as well.
However, Senate Majority Leaders Chuck Schumer previously said he will stop the defense bill before passing more modest reform. As well Chuck Schumer and other leading politicians are working together to pass their own reform proposal. So due to all the back and forth on whos bill will pass and possibly undercutting one another cannabis stocks have suffered. Although in the first 10-14 days of November when progressive news surfaced about the reform marijuana stocks saw a nice increase.
Marijuana Stocks To Watch In Todays Market
Fast forward to today and many are taking advantage of this current pullback. The strategy is to be prepared for when the sector does possibly take off again. Which many feel is going to happen sooner than later. Especially with the eventual passing of federal cannabis reform. There is much in the works for the future of the cannabis industry. From this, an increase of people are looking to get invested in a once-taboo industry. So with how the market is performing now is the time to find the best marijuana stocks for your portfolio. Below are a few cannabis stocks to watch this month that may see better trading in December.
Marijuana Stocks For Your December Watchlist
High Tide Inc.
High Tide Inc. engages in the cannabis retail business in Canada, Europe, the United States, and internationally. The company designs manufacture and distribute smoking accessories and cannabis lifestyle products. It is also involved in the wholesale and retailing of cannabis products, as well as operates and franchises licensed retail cannabis stores. In recent news, the company announced it has completed its acquisition of an 80% interest in NuLeaf Naturals, LLC.
This transaction was for US$31,240,000. And will have a three-year option to acquire the remaining 20% of NuLeaf at any time. Founded in 2014 NuLeaf focused on the production and distribution of premium cannabinoid wellness products. It has received over 25,000 verified 5-star customer reviews through its e-commerce platform. This is High Tide’s sixth acquisition in the global e-commerce space, and third in the CBD space, in 2021.
These transactions have collectively contributed to increasing the Company’s annual run-rate international revenue. Which started from approximately $10.6 million at the end of October 31, 2020. And then to just approximately $80 million annual run-rate at the end of November 30, 2021.
Ascend Wellness Holdings, Inc.
Ascend Wellness Holdings, Inc. engages in the cultivation, manufacture, and distribution of cannabis consumer packaged goods. The company’s cannabis product categories include flowers, pre-rolls, concentrates, vapes, edibles, and other cannabis-related products. As of May 26, 2021, it operated 17 retail locations. The company also sells its products to third-party licensed cannabis retail stores. Back November 18th announced the opening of its second Massachusetts dispensary in Newton.
The store will be celebrated with a grand opening ribbon-cutting ceremony in early December. This will be to mark AWH’s second Ascend location in the state. The Company’s flagship location on Friend Street in Downtown Boston opened in May this year. Ascend Newton is the first of AWH’s retail locations to offer delivery services from the dispensary.
Customers can order directly from the dispensary website, select a two-hour delivery window and pay at the time of delivery via cash or debit. Delivery will be available within a 25-mile radius from the Newton location. Including Downtown Boston, providing Ascend delivery access to 3.6 million people. With continued growth, more people are starting to take notice. This may draw in future investors who are looking to be a part of the cannabis industry.
Words From The Company
“With 2021 Massachusetts cannabis sales expected to more than double from last years’ total, we’re excited to bring Ascend’s high-end retail experience and robust product offering to Newton,” said Andrea Cabral, CEO of Ascend Massachusetts. “We’re proud to launch our first delivery service, which increases consumer access to premium cannabis products for those in Middlesex County and Downtown Boston.”
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