3 Marijuana Stocks Investors Are Keeping An Eye On In July
So far trading for marijuana stocks in July has been a bit volatile. Yet even with volatile trading, it’s still better market action than what investors saw back in the middle of February. Even with the market picking up more momentum a bigger jump in trading has still yet to be seen. As of now, some cannabis stocks have started to see a solid recovery while others are moving up and down without any real consistency.
With this, some analysts feel it’s only a matter of time before the sector climbs back to the previous trading before the downtrend. Now over the last 2 months, many marijuana stocks were building back some of their lost momentum. Much of this is derived from cannabis companies releasing their recent earnings.
When news is released about cannabis stocks particularly news on positive financials it can resonate well amongst other marijuana stocks. Meaning when one cannabis stock does well it can set off a domino effect for others to move up in trading as well. Another big factor is the progress with cannabis reform on state and the push on a federal level. Many new states are voting to legalize cannabis in some form.
With more states going legal and creating new cannabis markets the state-level legislation must be up to par and regulated correctly. So as the U.S. continues to legalize marijuana it adds more pressure for Congress to federally legalize marijuana as well. Which has been said to be the biggest hurdle for the U.S. cannabis industry.
The ending of cannabis prohibition will create a great deal of momentum for not just marijuana stocks but the industry in its entirety. Fighting for better cannabis reform has led more people to find ways to become invested in the legal marijuana industry in 2021.
Marijuana Stocks To Watch This Week
- Trulieve Cannabis Corp. (OTC:TCNNF)
- Greenlane Holdings, Inc. (NASDAQ:GNLN)
- Harborside Inc. (OTC:HBORF)
Trulieve Cannabis Corp.
Trulieve Cannabis Corp. is a leading multi-state operating cannabis company with dispensaries all across the United States. The company controls the dominant part of Florida’s medical marijuana market. In one of the company’s most recent news releases, Truelieve completed the acquisition of keystone shops in Pennsylvania.
Some of the advantages of this venture are is expandsTrulieve’s footprint of 91 dispensaries nationally. In addition to expanding Trulieve’s presence to the Greater Philadelphia area. As well as adding to Trulieve’s existing operations in Pennsylvania, the fifth most populated and limited-license state
Words From The Company
Kim Rivers, Trulieve CEO stated, “The Trulieve team was able to close this transaction quickly, adding to our presence in Pennsylvania. Keystone Shops operates three strategically-located dispensaries in the Greater Philadelphia area and, with its staff’s knowledgeable and customer-centric approach to patients, this will be a valuable and exciting addition to our growing Pennsylvania portfolio.”
In the last several weeks of trading TCNNF stock has still held a promising market position. From Mid June to now TCNNF stock has begun to see a nice rise in trading. This recent climb is showing more consistency in the company’s performance in the market. Looking from June 15th to July 9th TCNNF stock is up 7 percent from that time. Heading into the second half of July this marijuana stock to watch may see a bigger rise in trading this month.
Greenlane Holdings, Inc.
Greenlane Holdings, Inc. sells cannabis accessories, child-resistant packaging. As well as specialty vaporization products in the United States, Canada, Europe, Australia, and South America. From the end of May, all the way to now in July GNLN stock has slowly started to move back up in the market. Looking from May 21st to June 4th GNLN stock saw gains of 9 percent during that time.
This was a good setup to see better trading in the days ahead. Moving forward from the 4th of June to the 15th GNLN stock did drop a bit but has currently started to recover. June 15th to July 9th GNLN stock is up 13 percent. As a new week of trading is here investors are waiting to see what will unfold with this marijuana stock to watch in 2021.
Harborside Inc. engages in the cultivation, manufacture, distribution, wholesale, and retail of cannabis and cannabis products. Which is done for the adult-use and medical markets in California. It owns and operates three retail dispensaries under the Harborside brand located in Oakland, San Jose, and San Leandro, California. Since May HBORF stock has been more volatile as the company saw a nice rise for most of the month.
Yet at the end of May heading into June HBORF stock began to drop in the market. The entire month of June was pretty much a loss for the company. From June 1st to the 30th HBORF stock has fallen 23 percent. However, in the last few weeks, more momentum has been building for the company. This recent upward momentum has led to a slow climb in trading. Looking from June 30th to July 9th HBORF stock has seen a small rise of 2 percent. Shareholders feel it’s possible to see this rise continue under the right market circumstances.
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