2 Hot Marijuana Stocks to Watch in Late October 2021
Right now more people are searching for the best marijuana stocks to buy. The reason so many people are doing so is how low the sector has dropped. So with this decline, it has people getting prepared for when marijuana stocks see a run in trading. Not to mention it is creating a chance for people to get invested in legal cannabis. Many people who are looking for a way in the cannabis industry now have a chance to. Cannabis stocks give those who are on a more cost-friendly budget access to own pieces of a particular cannabis company. However, it’s been some time since a significant push in trading has occurred.
Even with some better trading in the last several month’s cannabis stocks are still trading at a lower average. Now in this time, some gains have been made but they haven’t been as big as once before. There are a lot of investors who feel that marijuana stocks will have more upward consistency. Yet much of this dependant on what will happen after the day cannabis prohibition comes to an end. Currently, some of these better days of trading have been due to progressive news on federal cannabis reform. So this is the reason many are buying the dips and waiting for a possible run on the day federal reform is enacted.
Nonetheless, the cannabis industry as a whole is continuing to thrive and show more growth. Some cannabis companies are becoming more established in many legal states. This has created an increase in money being generated inside of these legal states. With this success, more people are taking notice and are using this as a system to buy cannabis stocks. Below are 2 marijuana stocks to watch as investors await for the day more consistent trading.
Top Marijuana Stocks To Watch Right Now In The Market
Verano Holdings Corp.
Verano Holdings Corp. operates as a vertically integrated multi-state cannabis operator in the United States. The company produces and sells a suite of cannabis products under the portfolio of consumer brands, including Encore, Avexia, MÃV, and Verano. In recent news, the company announced it has upsized its credit agreement to US$250 million at 8.50%. Along with an additional US$100 million option.
Words From The Company
“Disciplined capital stewardship has always been a focal point for Verano and a key driver of our signature bottom-line performance,” said George Archos, Verano Founder and CEO. “Following the significant growth we delivered over the past two reported quarters, upsizing our credit facility supports further execution of our strategic growth plans and continued value creation for our shareholders. In partnership with Chicago Atlantic, and leveraging Verano’s strong fundamentals, we’ve again lowered our cost of capital on a non-dilutive basis. This transaction dovetails with our short- and long-term objectives to remain acquisitive and expand the Verano platform in both new and existing markets.”
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VRNOF Stock Performance And Market Update
In the last 4-6 weeks this marijuana stock has been through a fair amount of volatile action. At the start of September, this marijuana stock went on a nice climb going from $11.09 to $12.82 on the 7th. The first week of trading went well for the company. Yet during week 2 of the month VRNOF stock lost its momentum and began to trade down. In the last 2 weeks of September, the company did see small windows of upward trading. Still on the 28th of September moving into October VRNOF stock was hit with another drop in trading.
So at the start of October VRNOF stock was once again on the path to recovery. On the 5th of October is when momentum began to build back up for the company. So far in October VRNOF stock has been a bit more volatile with its trading. Currently VRNOF stock is up in trading as its looks like the company are on the road to another recovery. Shareholders are keeping watch to see if this marijuana stock will be able to sustain its climb moving into November
Ayr Wellness Inc.
Ayr Wellness Inc. is a vertically integrated cannabis multi-state operator, cultivates, extracts, manufactures, distributes, and retails cannabis products and branded cannabis packaged goods. The company’s cannabis and cannabis products include concentrates, edibles, and vaporizer products. It also provides administrative, consulting, and operations support services to licensed cannabis companies. In addition, Ayr Wellness Inc. operates medical retail dispensaries.
In one of the more recent developments, the company announced the closing of its acquisition of Pa Natural Medicine, LLC. The acquisition of PA Natural adds key dispensary locations in central PA. This includes the college towns of Bloomsburg and State College, as well as Selinsgrove. In keeping with the Company’s retail strategy, the stores will be rebranded to “Ayr” from the existing “Nature’s Medicine” banner by year-end.
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Words From The CEO Of Ayr Wellness Inc.
“We are excited to expand our retail presence in Pennsylvania, where we’ve generated great momentum since entering the market earlier this year, in terms of the excellent reception we’ve received for both our dispensaries and our Ayr-grown premium flower. With six stores now open and two additional dispensary openings anticipated by year-end, and one of the largest cultivation and production footprints in the state, we expect Pennsylvania to be a major contributor to our growth in 2022 and beyond,” said Jonathan Sandelman, Ayr Wellness Founder, Chairman and CEO.
AYRWF Stock Performance And Market Update
At the start of September AYRWF stock was faced with the loss of market momentum. This decline in momentum led the company to see a drop in trading for the first 2 weeks of the month. Now moving into the 3rd week of September AYRWF stock did see some upward trading. This was the increase the company needed. On the 21st of the month right before the following month, AYRWF stock had a nice run. To close out September AYRWF stock did so reaching a higher level than the start of the month. As for trading in October unfortunately the company was not able to sustain its increase in trading. So as of now, AYRWF stock is currently down in the market. But with more time left before November, it’s possible to see this marijuana stock recover once more.
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