These Marijuana Stocks Could See Better Trading In 2021 Here’s Why
Many marijuana stocks are still facing a good amount of trouble reaching higher market levels. Some would think with many cannabis companies releasing solid earnings it would help with some upward momentum. However, this has not been the case for the last several months. The cannabis industry outside of the market has continued to flourish in a major way. For example, more companies have been expanding operations by opening new dispensaries.
As well some companies have grown through mergers and acquisitions and this has created what some are calling super companies. With this continued progress of the cannabis industry, you would think it would have some kind of positive effect on marijuana stocks. Although this has not been the case. The bulk of the sector has not been able to trade at levels like it once did prior to most of 2020 and early 2021. In the first month and half of 2021, many marijuana stocks were even able to reach new all-time highs.
So now investors are looking for the solution as what it will take to bring the sectors trading back up. In recent times it seems as the big focus is no longer just legal states but the fight for federal cannabis reform. Many top politicians are working to make this a reality for the industry. Yet the even if some form of federal cannabis bill is enacted the President is still in opposition to federal reform.
Cannabis Stock Market Update
This has caused a bit of a stalemate which is also a factor as to why pot stocks are not able to see consistent upward trading. It is understandable while at the same time frustrating. With cannabis federally legal it would allow for the big players of the industry to embark on ventures once against federal law. As well this may also cause marijuana stocks to rise.
Marijuana Stocks To Watch For Your 2021 Watchlist
- Lowell Farms Inc. (OTC:LOWLF)
- Sundial Inc. (NASDAQ:SNDL)
[Read More] Top Marijuana Stocks To Watch In The US Cannabis Industry
Lowell Farms Inc.
Lowell Farms Inc. engages in the cultivation, extraction, processing, manufacturing, branding, packaging, and wholesale distribution of cannabis products to retail dispensaries in California. In recent news, the company announced Ascend to bring Lowell Smokes to Illinois. This was carried out and put into action on August 5th.
The iconic Lowell Smokes pre-roll pack will initially be available to consumers at eight retail locations throughout Illinois. n April, Lowell Farms entered into a strategic licensing agreement with AWH to bring the iconic Lowell Smokes brand to Illinois. The collaboration designates AWH, a distinguished pre-roll producer, as Lowell Farms’ wholesale partner.
Words From The Company
“Almost overnight, Illinois has become an incredibly vibrant and exciting cannabis market with some truly exceptional product. We are glad to be partnered with Ascend and their cultivation team to bring Lowell to life in this great state,” says Lowell Farms Inc. Chairman George Allen. “Legalization has been a long time coming in Illinois and we cannot imagine a place we would rather be this summer to celebrate all those that made it happen.”
LOWLF Stock Performance And Market Update
In the last few months of trading, LOWLF stock has been a bit volatile in the market. Since the start of May LOWLF stock has been trading down in the market. Yet towards the middle of May, a small pick-up in trading occurred before the start of June. In June the company faced the same issues as the month before.
Trading for most of the month was on the downside. However, at the end of June LOWLF stock began to recover before July. At the start of July, the company was still showing strong signs of volatility. Yet pushing into August trading has slowly started to look better for the company.
Sundial Inc.
Sundial Inc. engages in the production and marketing of cannabis products for the adult-use market in Canada. It produces and distributes inhalable products, such as flower, pre-rolls, and vapes. The company offers its products under the Top Leaf, Sundial Cannabis, Palmetto, and Grasslands brands.
This past week the company has released its Q2 2021 financial and operational results. During this time the company saw a gross revenue of $12.7 million. This made for an increase of 8% in comparison to the previous quarter. Next, the company also suffered a net loss of $52.3 million for the second quarter of 2021. As well this is also compared to $60.4 million in the second quarter of the prior year.
Words From The CEO
“Following Sundial’s restructuring in 2020, we have been able to rapidly reshape the business model to focus on a two-pillar strategy that we believe will position our shareholders for future success,” said Zach George, Chief Executive Officer of Sundial. “The first pillar is comprised of our core cannabis operations which are now vertically integrated with the acquisition of the Spiritleaf retail network.
[Read More] 3 Top Cannabis Stocks To Watch Mid August
SNDL Stock Performance And Market Update
Over the last 2 months, SNDL stock has been trying to build more trading momentum. At the start of June, the company was continuing its run from the month before. However, after the 3rd of June trading for SNDL started to fall. On June 22nd a small uptick in trading happened for the company but SNDL stock was not able to keep it going.
For trading in July, the company, unfortunately, was still trading down with some slight volatile spikes. Yet the entire month of July and currently in August SNDL stock has furthered its drop in the market. Hopefully with the company working to continue its progress outside the market that it will eventually help with more trading momentum.
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