3 Marijuana Stocks To Watch As A New Month Approaches
Many marijuana stocks are still showing good entry levels even with the sector having some better days of trading. With federal cannabis reform at a bit of a stalemate, investors want to know what other catalyst could help bring cannabis stocks back up. Now we have some investors buying up the dips which could help bring some cannabis stocks up in the market. Next, you have cannabis companies that are releasing Q2 2021 earnings.
To which most are showing overall positive results and some have even broken records. This has played a small part in the recent upward momentum that has occurred on certain days. As mentioned above some companies broke records in Q2 which is in regards to these marijuana companies having record cannabis sales in July. In addition to this more states are working on either going legal or have gone legal and are establishing rules and regulations.
With more states that legalizing marijuana, it will not only create new markets but create new opportunities as well. This potential progress gives people more reason to invest in cannabis more specifically marijuana stocks. Now there is no way to firmly know if any of these factors will help bring more upward consistency in the sector. But what has been seen is these above factors have contributed towards some better days of trading.
Cannabis Stock Market Info
Nonetheless, even though the upward days are not as consistent as they used to be. But even a small amount of upward trading is still better than not moving up at all. In today’s market for marijuana stocks, there is still a great deal of uncertainty along with volatility. So a way to mitigate risk and try to make max profit is by doing thorough research before investing looking for marijuana stocks to buy.
3 Top Marijuana Stocks To Watch In 2021
Planet 13 Holdings Inc. (OTC:PLNHF)
Jushi Holdings Inc. (OTC:JUSHF)
Acreage Holdings, Inc. (OTC:ACRHF)
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Planet 13 Holdings Inc.
Planet 13 Holdings Inc. a cannabis company, cultivates, produces, distributes, and markets cannabis and cannabis-infused and related products for medical and retail cannabis markets in Nevada, the United States. In recent news, the company released its Q2 2021 earnings. Durgin this time the company’s generated a revenue of $32.8 million. This makes an increase of 205% in comparison to Q2, 2020. As well the company during Q2 2021 had an Adjusted EBITDA[1] of $7.2 million.
Words From The Company
“Q2 was a strong quarter for Planet 13. With tourism back, the Superstore’s in-store experience is once again proving that it is on the list of must visit destinations for any trip to Vegas. Every week thousands of people share their experience at the store with their friends on social media and the compounding impact of that organic marketing is obvious as even after being open for three years we are seeing strong growth and increasing share of the Nevada market every month,” said Larry Scheffler, Co-CEO of Planet 13.
PLNHF Stock Performance And Market Update
In the last 2 months of trading PLNHF stock has been working on a better path to recovering, Since the start of July PLNHF stock has been trading down with the exception of some volatile upticks. Much of July was a loss in trading for the company. As for trading in August, the first week and a half PLNHF stock started to see a bit of upward trading before dropping once more. Yet from the close of August 27th PLNHF stock has started to slowly rise back up in the market. So with a new week of trading here, it’s possible to see this marijuana stock sustain its market position.
Jushi Holdings Inc.
Jushi Holdings Inc. a vertically integrated cannabis company, engages in the cultivation, processing, retail, and distribution of medical and adult-use products. It focuses on building a portfolio of cannabis assets in various jurisdictions across the United States. In the company’s most recent update they announced they have completed the previously announced acquisition of Franklin Bioscience OH, LLC.
Words From The CEO
Jushi Chief Executive Officer, Chairman and Founder Jim Cacioppo commented, “We are cultivating and producing brands in Ohio that are exciting, connective and relevant to Ohio’s medical marijuana patients. Through our continued dedication to research and development, our team has a firm understanding of what our customers and patients are looking for in cannabis products. Jushi’s objective is for our brands and product offerings to not only meet but exceed cannabis consumers’ expectations. From innovative and genetically superior flower lines, to top of the line concentrates and unique edible offerings, our goal is to reinvent, redesign and redefine the cannabis experience.”
JUSHF Stock Market Update And Stock Performance
Since the start of July JUSHF stock initially began with a nice drive in upward trading, In the first 2 weeks this cannabis stock was building its momentum. Yet this climb was short-lived and on the 13th of July, JUSHF stock saw a big drop in trading. However, during this drop in the market the company did manage to see some volatile swings towards the end of July. Pushing into August JUSHF stock had a slight dip in the first 2 days bit later on saw a nice pick up in trading. But this push from JUSHF stock was not able to continue and is currently working to build more momentum before the start of September.
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Acreage Holdings, Inc.
Acreage Holdings, Inc. formerly High Street Capital Partners, is a principal investment firm specializing in the cannabis industry. Back on August 9th Acreage released its Q2 2021 earnings. In this time the company was able to show its progress. Some key highlights to mention are the company grew its revenue to 63% and sequential improvements in net loss and positive Adjusted EBITDA*. In more recent news the company names Bryan Murray as Executive Vice President of Government Relations.
Words From The CEO Of Holdings, Inc.
“I am excited to welcome Bryan to the Acreage team and look forward to his leadership in building collaborative relationships with government officials, regulators and partners at the local, state and national levels and advancing cannabis legislation,” said Peter Caldini, Chief Executive Officer of Acreage
ACRHF Stock Performance And Market Update
In the month of July, ACRHF stock encountered a fair amount of volatility. This volatile trading created a pattern of up and down trading. Which gave some shareholders a chance to see a return. Trading for the company in the first 2 weeks is when they held a decent market level to build from. Yet on the 16th of July, the company saw a dip right before a nice upward push in trading.
However, this rise did not last as long as some thought. Soon after ACRHF stock dipped once more at the end of July. Right before the start of August the company began to climb as the new month began. In August ACRHF stock was not able to keep its momentum going. This led to the company seeing an even bigger drop in trading so far in August. Hopefully, things will pick up in trading as a new week is set to begin.
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