2 Marijuana Stocks To Add To Your June Watchlist
Right now marijuana stocks are facing a bit of pullback in the market. This is due to some investors selling their position to either break even take profits or cut their losses. Even as trading on June 3rd has dropped from the start of the month there is still time to see things pull back up.
Marijuana stocks are just now coming off of a 12-week downtrend. So just like in mid-May cannabis stocks are now showing a bit of volatility in the market. What this current dip in today’s trading does is give another chance to add top marijuana stocks to your portfolio.
Some analysts feel eventually cannabis stocks will rise even more. So for those who hold their position until such time could have the chance to see nice returns. Pot stocks are unpredictable with how they trade in addition to this recent downtrend investors now have a bit of uncertainty. This caution is from watching the sector continue to fall and not reach previous market levels.
Currently, it seems that it has turned into a game of patience in regards to seeing higher trading levels with marijuana stocks. For now, shareholders will have to do so. But in the meantime buying marijuana as they start to dip again can bring the average cost of their position down. What this would do is allow shareholders to see a bigger profit when the time comes.
Beyond just the market the cannabis industry is still expanding at a fast pace. When more progress continues for a cannabis company it can balance out the financials between business and the market. For example, a particular marijuana company may not be trading well. However, the operational side of the company could be generating large amounts of revenue.
Marijuana Stocks To Watch This Month
TPCO Holding Corp.
TPCO Holding Corp. cultivates, extracts manufacture, distributes, retails, and delivers cannabis in California. The company gained a bit more attention once it was announced that Jay Z would become the new owner. At the start of 2021 TPCO Holding Corp. was riding a wave of momentum that led to the company seeing higher trading levels.
Looking at January 4th to the 13th of the month GRAMF stock went on a nice rally. During this upward push GRAMF stock was able to reach gains of 26 percent. From this point, GRAMF went of dropped in trading even before February.
However even while trading down some upward trading did occur before eventually falling even further in the market. Currently, GRAMF stock is still down and has not recovered to even spiked to a level that has allowed some type of profit to be made.
This like many other cannabis stocks has left shareholders waiting for the company to bounce. Moving forward in recent news the company has selected Josephine & Billie’s, a Los Angeles-based cannabis brand and retail concept. This cannabis brand will be the Company’s first social equity corporate venture fund investment.
Words From Whitney Beatty
“We are so pleased to partner with The Parent Company to bring Josephine & Billie’s to life and create a cannabis experience led by and for Women of Color – the first of its kind in the world,” said Josephine & Billie’s founder Whitney Beatty. “Communities of Color have been disproportionately disenfranchised by the War on Drugs, and in legalization, these individuals deserve prioritization to access the healing properties of cannabis. The Parent Company shares this vision for a more equitable cannabis marketplace, and I know that together, we have the opportunity to change lives.”
Charlotte’s Web Holdings, Inc.
Charlotte’s Web Holdings, Inc. is known as one of the top CBD marijuana stocks to watch in the industry. The Stanely brother gained huge notoriety when naming their CBD strain Charlotte after a young lady who suffered from Dravet syndrome. Since that time the company has grown as a leader of all things CBD in the cannabis industry.
In recent trading CWBHF stock has started to pull up in the market. On May 14th is when CWBHF stock started its initial climb heading into June. From the 14th of May to June 3rd CWBHF stock is up 40 percent.
Yet in the last day of trading, the company has slightly started to dip. The goal for investors is the remain patient enough till it’s time to take profits. So for now it’s a waiting game to see what will happen with this marijuana stock to watch. Beyond the market, the overall performance of the company has not stumbled too much.
Back on May 11th, the company released its Q1 2021 results. During this time the company’s consolidated revenue increased 9.1% to $23.4 million. Which is in comparison to $21.5 million in Q1-2020. Another highlight to mention is Charlotte’s Web DTC eCommerce sales increased 14.5% year-over-year and contributed 68.9% of Q1 revenue.
Words From The Company
“Despite reduced retail activity due to the pandemic, our directly comparable B2B retail sales showed year-over-year growth. Our B2B retail sales and velocities further strengthened in March and April as US vaccination programs support reopening of the economy, and our DTC sales continued to grow demonstrating long-term secular strength for our products in the e-commerce channel,” said Deanie Elsner, CEO of Charlotte’s Web.
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