2 Marijuana Stocks To Watch Right Before August
Right now marijuana stocks are showing more volatile trading in the market. Much of this comes from what is happening outside of the market. Currently, in the cannabis industry, much progress and new ventures are taking place. For example even with the sectors down overall a record amount of cannabis has been legally sold across the United States. As well as companies expanding due to M&A and taking part in new business opportunities.
Along with the push for federal cannabis reform and more states looking to go legal. This has all played an intricate part in the up and down action amongst many marijuana stocks. Back on July 28th many marijuana stocks especially Canadian ones showed to be more green. This upward boost in the sector came from Tilray Inc. (TLRY) releasing some positive earnings. Most times when a cannabis company releases good earnings it can resonate well for the sector.
Which in short can help other cannabis stocks see better trading. Right now some may feel they have missed the boat to invest in marijuana stocks. But they couldn’t be further from the truth. Due to the drop in the sector now is a really good time to look for the best cannabis stocks to buy. With the recent sector-wide downtrend that just passed, it left some of the top-performing marijuana stocks trading at lower prices.
Now there is no way to know if the sector will rise back to levels before the downtrend. Yet to have a portfolio of top cannabis companies at lower prices is a good setup to have before the next sector-wide run. Just make sure you do your research before any money is invested. The cannabis stocks below are 2 companies that may offer some solid value to your 2021 watchlist.
Marijuana Stocks To Watch Right Now In The Market
Jazz Pharmaceuticals plc
Jazz Pharmaceuticals plc is a biopharmaceutical company, that identifies, develops, and commercializes pharmaceutical products. Which is meant for various unmet medical needs. The company has a portfolio of products and product candidates with a focus in the areas of neuroscience. As well as sleep medicine and movement disorders; and in oncology, including hematologic and solid tumors.
Furthermore what makes the company active in the cannabis space is when it acquired GW pharmaceuticals not long ago. GW pharmaceuticals are responsible for the creation of the only FDA-approved CBD treatment on the market. Through the purchase of GW is what puts Jazz Pharmaceuticals plc in the side of the cannabis space. With the increase of legal cannabis and more medicinal use having an FDA, approved product makes for a good position.
As far as the company’s market performance over the last 4-8 weeks JAZZ stock has been an uphill volatile climb. Starting from May 4th to the 10th of the month JAZZ stock was able to continue its climb in the market. Durgin this time JAZZ stock showed solid growth potential with a 9 percent increase in trading. From the 10th to the end of the month there a small decline but moving into the following month thing started to look better. At the start of June, JAZZ stock began to build more trading momentum and had a nice push from the 3rd to the 14th.
Yet shortly after the company started to lose its upward push. The company finished June on a downtrend but still held a promising market position. When trading started for the company in July for the first few days JAZZ stock was moving back up. Unfortunately JAZZ stock could not sustain any significant upward momentum outside of an uptick later in the month. Currently JAZZ stock is down but with a new month ahead of investors trading may soon start to pick up.
AbbVie Inc. discovers, develops, manufactures, and sells pharmaceuticals across the world. The company found its place in the cannabis industry through the development of Marinol. This medicine is another FDA-approved treatment but because it’s man-made it’s looked at differently than Epidiolex. Over the last few months of trading ABBV stock has started to see more upward momentum.
In May trading for the company had a nice overall rise in the market. Yet towards the end of the month ABBV stock fell from higher market levels. When trading in June began ABBV stock was hit with some market volatility. However, the first week of trading in June ABBV stock was starting to push back up in the market. In the first 10 days of trading in June, ABBV stock shot up 3 percent.
A small climb but a rise where some shareholders were able to make a bit of profit. For the rest of June, the company had issues keeping its rise going and led to ABBV stock dipping back down. However, from the start of July, the company has been able to get on the road to recovery. Currently, ABBV stock is up for the month, and moving into August some feel the company has the ability to further its climb.
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