2 Marijuana Stocks Investors May Want To Keep An Eye On In August
Marijuana stocks are still feeling the impact of the up and down trading in the market. With this volatile action, investors are able to find top marijuana stocks at lower prices. That is name of the game buy and sell high when investing in all stocks. But specifically with cannabis stocks since the middle of February, the sector has been trading at a lower average.
Now some feel sometime in the near future the sector will rise again. Part of the issue with this is no one knows when or what the catalyst will be to increase the trading in the sector. In August many cannabis companies are getting ready to release earnings. Now, this may not be the reason for a consistent jump in the sector’s average trading level. Yet this may cause some much-needed upward trading for some marijuana stocks.
The current state of the cannabis industry is one of continuous growth and innovation. In just the last year alone not only has a record amount of revenue been made but more states have voted to go legal. With more states going legal it will add larger value, not just with more money but by putting pressure on Congress to enact federal cannabis reform. As well more marijuana companies have been expanding operations through M&A.
Outside of the market the growth has been unstoppable which has more people looking to invest in legal marijuana. But with how the market has been investing in marijuana stocks may be a tricky investment for some. However no risk no reward and if executed correctly there is good money to be made with cannabis stocks. Just make sure you do your research before you start buying marijuana stocks in 2021. Below are 2 companies to consider for your August 2021 watchlist.
Top Marijuana Stocks For Your 2021 Watchlist
- HEXO Corp. (NYSE:HEXO)
- Aurora Cannabis Inc. (NASDAQ:ACB)
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HEXO Corp.
HEXO Corp. through its subsidiaries, produces, markets, and sells cannabis in Canada. It offers dried cannabis under the Time of Day and H2 lines; Elixir, a cannabis oil sublingual mist product line; and Decarb, an activated fine-milled cannabis powder product. The company offers its adult-use and medical products under the HEXO brand name. Back in early July, the company released info about an update on the Redecan acquisition.
Words From The Company
“Redecan has the top consumer loyalty in Canada, impressive market share and leading products in key categories. Today, we are excited to finally share additional financial information with HEXO shareholders,” said HEXO CEO and co-founder Sebastien St-Louis.
“Redecan’s historical financial statements demonstrate exactly what we already knew: Redecan is one of the fastest growth LPs in Canada with positive income from operations, impressive margins, lean operational efficiency and strong revenue. Once closed, the acquisition will further strengthen our position as a leader in the Canadian cannabis industry, bolster the Company as we look towards becoming a top three global cannabis products company and put us firmly on the path towards positive EPS.”
HEXO Stock Market Update And Performance
In the last 2 months of trading HEXO stock up until recently has not been the best marijuana stock to watch. Since the start of June HEXO stock initially was looking good. But soon after the first week of the month HEXO stock began to see a drastic drop in trading.
Essentially the last 8 weeks from June to July have been a loss in the market. In July HEXO stock continued to trade down without any upward momentum. Currently in August things have started to change a bit for HEXO stock. A of now HEXO stock is seeing a small rise in the market but shareholders are still watching with caution.
Aurora Cannabis Inc.
Aurora Cannabis Inc. at one point in time this was one of the biggest Canadian marijuana stocks to buy. On the Candian side of the sector, Aurora was once held with the highest regard. The company produces and distributes medical cannabis products worldwide. It is vertically integrated and horizontally diversified across various segments of the cannabis value chain.
This includes facility engineering and design, cannabis breeding, genetics research. In addition to production, derivatives, high value-add product development, home cultivation, wholesale, and retail distribution. The company produces various strains of dried cannabis, cannabis oil and capsules, and topical kits for medical patients.
In the company’s most recent update they announced the appointment of a new independent director. The new director will be none other than Theresa Firestone. This is a newly created directorship that expands the Board to nine members, seven of whom are independent.
Words From The Chairman of Aurora Cannabis
Ronald Funk, Chairman of Aurora Cannabis stated, “We are delighted to welcome Theresa to our Board of Directors. She brings to us extensive expertise in healthcare management and pharmaceuticals, global business restructuring, new business development and a proven ability to lead and manage change. Her background and well-defined skillset will be invaluable to us as we execute our strategic growth plans while managing costs more effectively. We look forward to benefitting from her many contributions to Aurora.”
[Read More] 3 Best Canadian Marijuana Stocks For Your Watchlist In 2021
ACB Stock Market Performance And Update
From the start of June, ACB stock has looked a little volatile but was still able to hold a decent market position. In the first 9 days of June, ACB stock was showing some upward movement in the market. After the 9th much of this momentum began to fade. With the momentum for ACB stock starting to go do did the upward trading for the company. Now even with a small bounce at the end of June ACB stock continued to fall moving into July.
Looking at the 7th of July to the 12th and it looked like ACB stock was on its way to rising back up in the market. But that was not the case as the company was not able to sustain that climb and once again further its descend in the market. As of late trading has yet to pick up for ACB in August. However, with more time left until the end of the month, anything can happen with this top Canadian marijuana stock to watch.
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