Top Marijuana Stock Picks Before The Sector Picks Back Up
Some marijuana stocks are continuing to show consistent momentum in the stock market. So with this shareholders are taking advantage of this and taking profits as it comes. Yet some wonder how long this upward push will last. In conjunction with this idea comes speculation which has also added to this recent uptick in marijuana stocks. The month of October has been one of better trading for some companies. Much of this is due to several factors which lead to positive speculation. To start we had Joe Biden speak on his move to pardon low-level federal cannabis crimes for those behind bars.
Next, we had Sen. Cory Booker shed light on how he feels Congress is getting closer to passing federal cannabis reform. As well we have companies preparing to report earnings real soon. Also, we have companies that have entered and completed several ventures adding more value and momentum to the cannabis industry. All of the above is the reason that we have seen all-around better trading in the cannabis sector. Now even in moments of slight declines the recovery that has taken place has been a bit more consistent.
Hopefully, this momentum stays consistent enough for things to rise to higher trading levels for cannabis stocks. Yet some feel until federal reform is passed that volatile trading for marijuana stocks will continue. But for now, things are still looking good for some companies as trading in October is almost over. Hopefully, with a new year on the horizon, the progress of the sector and the cannabis industry as a whole brings the volatility down a little.
Top Marijuana Stocks For You Watchlist
TPCO Holding Corp.
TPCO Holding Corp. cultivates, extracts, manufactures, distributes, retails, and delivers cannabis in California. Back on September 30th, the company announced it will begin trading in Canadian dollars on the NEO stock exchange. The Company intends to begin trading on the NEO Stock Exchange in Canadian dollars which began on October 7, 2022, under the revised symbol “GRAM”.
The Company’s NEO-listed warrants which trade under the symbol “GRAM.WT.U” will continue to trade as is. The Company’s OTCQX securities will continue to trade in US dollars under the symbol “GRAMF” for the convenience of United States-domiciled investors. This development will allow investors on either side of the United States and Canadian border to efficiently trade Company securities in their local currency.
Glass House Brands Inc.
Glass House Brands Inc. cultivates, manufactures, retails, and distributes raw cannabis, cannabis oil, and cannabis consumer goods to wholesalers and consumer packaged goods retail stores. On October 3rd the company closed its second tranche of a non-brokered private placement of equity securities. The second closing of the Offering included approximately US$4.8 million of fresh capital. Plus approximately US$92,000 face value of additional Series A Preferred Stock exchange for new Series B Preferred Stock.
The combined new cash raised from the first and second closings is approximately US$19.5 million. A total of 42,197 shares of Series B Preferred Stock have been issued, with an aggregate face value of approximately US$42.2 million. This made the raise 84.5% complete, based on the targeted total financing amount of US$50.0 million. The Company expects to complete the Offering in the next 30 days. After which a total of approximately US$50.0 million of Series B Preferred Stock is expected to be outstanding.
Lowell Farms Inc.
Lowell Farms Inc. engages in the cultivation, extraction, manufacturing, sale, marketing, and distribution of cannabis products to retail dispensaries in California. Back in September, the company commenced the sale of its new preroll: The Lowell 35.
Words From The Company
“We see the 35’s as putting an end to the compromise between convenience and quality within cannabis,” said George Allen, Chairman. “The 35’s are made for people who love to smoke. These new prerolls rival the taste and flavor of raw flower while also matching the convenience of a vape pen.”