What Will It Take To See These Marijuana Stocks Climb Back Up In The Market?
Marijuana stocks are still moving with a great deal of volatility. Because of this, there have been more pullbacks in trading. With cannabis stocks moving up and down in the market it leaves more chances to find top marijuana stocks to buy. However, with how the sector has been performing some are concerned about when more consistent trading will take place.
Now some are also wondering how more progress and success is happening outside of the market but hasn’t transcended into more momentum. Yet that isn’t to say that with this volatile action that gains are not being made. But the returns some investors are seeing are not a big as they were before the recent downtrend that passed. Furthermore, in the last year, cannabis stocks and the entire cannabis industry have gone through a big transition.
For one during this pandemic cannabis demand shot through the roof. This helped many marijuana businesses and at one point even added some positive sentiment for some marijuana stocks. Next would be how many cannabis stocks were showing consistent upward trading prior to mid-February. Currently, some companies have been able to see decent recoveries but it’s not at the market level it once was. Hopefully, with more states going legal and the possibility of federal cannabis reform, this will be the catalyst needed to see a bigger recovery.
For now, it’s a waiting game to see what will unfold with the future of how cannabis stocks to trade. Just make sure before you invest in the best marijuana stocks you can find do your homework first. You always want to limit the amount of risk on any investment you can make and proper due diligence can do just that. Below are 2 marijuana stocks to watch for potential gains in 2021.
Marijuana Stocks To Watch Right Now
- Greenlane Holdings, Inc. (NASDAQ:GNLN)
- Planet13 Holdings Inc. (OTC:PLNHF)
[Read More] Best Marijuana Stocks To Buy Now? 2 Companies To Watch In 2021
Greenlane Holdings, Inc.
Greenlane Holdings, Inc. sells cannabis accessories, child-resistant packaging, and specialty vaporization products in the United States, Canada, Europe, Australia, and South America. The company provides vaporizers, liquid nicotine, storage solutions, pipes, apparel lines. As well as consumption accessories, as well as bubblers, rigs, and other smoking and vaporization-related accessories and merchandise.
The company has been hard at work and has taken part in a big venture. This venture is when Greenlane partnered with KushCo Holdings Inc. Currently, in the cannabis industry, many companies are joining forces to create what is being called super companies. In recent news, Greenlane announced its preliminary second-quarter 2021 financial results.
The company reported having net sales of about $34.5 million as well as gross margins of 21%-22% with a total cash balance of approximately $11.5 million. Next, the company also announced it has entered into definitive agreements with institutional investors. This is for the purchase and sale of 10,126,583 shares of the Company’s common stock. In addition to using warrants to purchase up to an aggregate of 6,075,950 shares of the Company’s common stock. Which is being done, at an effective purchase price of $3.16 per share of common stock.
GNLN Stock Performance And Market Update
In the last 2-3 months GNLN stock has shown to be trading with a good amount of volatility. This up and down trading has ultimately led to GNLN stock trading down in the market. At the start of June trading was a bit slow but towards the end of the month GNLN stock had a nice jump in trading.
Although short-lived the company was not able to sustain this climb before the start of July. For a good part of the trading in July GNLN was still falling even now in August the company is still moving down in the market. Hopefully, as time goes on the company can find a way to build back some of its lost momentum.
Planet13 Holdings Inc.
Planet13 Holdings Inc. is a cannabis company that is known for creating the cannabis superstore in Las Vegas Nevada. The company cultivates, produces, distributes, and markets cannabis and cannabis-infused and related products. This is done for medical and retail cannabis markets in Nevada, the United States.
It also operates dispensaries that provide cannabis, cannabis extracts, and infused products. In recent news, the company announced that Planet 13 Illinois LLC won a Conditional Adult Use Dispensing Organization License. Which is in the Chicago-Naperville-Elgin region from the Illinois Department of Financial and Professional Regulation.
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Words From The Company
“We are thrilled to announce that Planet 13 Illinois was successful in the dispensary license lottery in the Chicago region,” said Larry Scheffler, Co-CEO of Planet 13. “Chicago has been one of the main target markets for a Planet 13 SuperStore with its rapidly growing cannabis sales, large population base, and attraction as a tourist destination. We are thrilled to be a partner with Frank Cowan to help support the growth of the industry and to bring the Planet 13 experience to the Chicago region.”
MAPH Enterprises, LLC | (305) 414-0128 | 1501 Venera Ave, Coral Gables, FL 33146 | new@marijuanastocks.com
