2 Top Pot Stocks To Watch Before Next Month Begins
So far in 2021 pot stocks have been faced with many challenges in the market. But as of the 23rd of August, things are looking better for many marijuana stocks. Over the last 4-6 months of trading, the majority of the cannabis sector has dropped in a major way. This drop-in trading has investors wondering what will it take to see the sector rise as a whole. Now over these several months, it seems that any progress outside of the market has not added much momentum inside the market.
Really the only bit of news that has moved cannabis stocks up is talks on federal cannabis reform. For many people in the cannabis industry passing federal cannabis, reform is the last significant legal hurdle to get over. As well many feel this could be the catalyst needed to see pot stocks start to rise and bring the trading average up in the sector. Yet even with the sector showing signs of strong volatility investors are still looking for the best marijuana stocks to buy.
For instance, if you happen to buy shares of a particular cannabis stock this past week today you could have been a day for you to see a nice return. Although pot stocks trade with a good amount of unpredictability for some it’s a risk worth taking. Just make sure to do your research before investing in cannabis stocks.
The more you are up to date on a company the better you can understand the risk you are taking. Overall the progress of the cannabis industry is looking good moving into the future. Hopefully, over time the continued success of the industry will help bring in some consistent trading momentum. Below are 2 pot stocks to watch for possible gains in 2021.
Top Marijuana Stocks To Add To Your 2021 Watchlist
- WM Technology, Inc. (NASDAQ:MAPS)
- Cresco Labs Inc. (OTC:CRLBF)
[Read More] 3 Pot Stocks To Watch At The End Of August
WM Technology, Inc.
WM Technology, Inc. provides SaaS subscription offerings to retailers and brands in the United States and Canadian cannabis markets. The company operates Weedmaps listings marketplace that provides consumers with information regarding cannabis retailers and brands. As well as the strain, pricing, and other information regarding cannabis products.
In one of the company’s recent updates, WM Technology released its Q2 2021 results. During this time the company’s total revenue grew 21% year-over-year. In addition to U.S. Revenue growth of 55% year-over-year. Also, the company’s net income was $16.8 million. Which is an increase in comparison to $9.4 million from the prior-year period.
Words From The Company
“Our second quarter results and momentum are evidence of the opportunities we have across our end-markets. We saw strong growth in both users accessing the Weedmaps marketplace, and clients leveraging our WM Business software offering within our U.S. end-markets. The growth in client monetization we are driving versus a year ago is evidence of WM Technology’s value proposition to our clients as they seek to grow their businesses compliantly and access hard-to-reach users. We have also seen positive developments with the pace of license issuance within our existing end-markets and the pace of new states passing regulations for adult-use,” said Chris Beals, CEO and Chairman of WM Technology.
MAPS Stock Performance And Market Update
MAPS stock in the last month and a half has been dealing with the up and down trading many marijuana stocks have been encountering. In the first week of August, MAPS stock started out slow but was to slowly rise before dipping back down. From the 2nd to the 10th of August MAPS stock was able to see a small uptick in trading despite falling right after. Currently MAPS stock has begun to build some upward momentum.
Cresco Labs Inc.
Cresco Labs Inc. together with its subsidiaries cultivates, manufactures, and sells retail and medical cannabis products in the United States. It provides cannabis in flowers, vape pens, live resins, disposable pens, and extracts under the Cresco brand. Back on August 13th, the company released its second-quarter 2021 financial results.
At this time the company saw a revenue of $210.0 million. This jump in revenue made for an increase of 17.7% quarter-over-quarter and 122.8% year-over-year. As well the company had an Adjusted EBITDA2 of $45.5 million, an increase of 30.1% quarter-over-quarter.
Words From The CEO
“Q2 was a strong quarter of head down execution at Cresco Labs and once again we are hitting our stride as we enter the next phase of growth. During the quarter we continued to invest in infrastructure, operationalized new assets, and deployed our proven playbook to build top positions in the most important U.S. cannabis markets,” said Charles Bachtell, Co-Founder and CEO of Cresco Labs.
[Read More] These Could Be The Best Marijuana Stocks For Your List Right Now
CRLBF Stock Performance And Market Update
During the month of August CRLBF stock has been working to build back its lost momentum. Trading from the 2nd to the 9th for the company was starting to look like CRLBF stock was moving back up in the market. However right after the 9th of August the company was not able to keep its rise going. This loss of momentum resulted in the company dropping back down for most of August. However, in more recent trading CRLBF stock has once again started to recover in the market.