Trading Marijuana Stocks In 2021? This Info Could Help Bring In The Gains
This month may be a better time for marijuana stocks. Now in the last few weeks of August, some cannabis stocks have seen a rise in trading. Yet these climbs did not last long but it was a window of time for some to take profits. In the last year, a fair amount of growth has occurred amongst many cannabis stocks. Yet as of late it seems that a big correction in the cannabis sector is taking place. What this means marijuana stocks were trading at such high levels it was only a matter of time before the average would drop a bit and the sector corrects itself.
With this new trading average in the sector, it’s giving more people a chance to find top cannabis stocks at cheaper prices. As well with the current level, the sector is trading many want to know if this will be the new average marijuana stocks will trade at. Yet as most know some days this may not be the case and things could change whether a bigger climb or another drop. Either way, the sector seems to be cooling down however with federal reform still not yet legal some feel this will help some cannabis stocks run once more.
The Progress Of The Cannabis Industry Right Now
Right now the biggest boost in the market has happened when news or updates about federal reform is announced. Ending cannabis prohibition will be the last significant legal battle for the U.S. cannabis industry outside of state-level reform. Furthermore, outside of the market, many cannabis companies are continuing to grow and evolve. This progress has kept many people interested in investing in legal cannabis even with the market down from earlier in the year. The cannabis industry is still young and developing and with its current success, the future looks to be promising for current and potential investors.
Top Marijuana Stocks To Watch In The Market Right Now
- Sundial Growers Inc. (NASDAQ:SNDL)
- Charlotte’s Web Holdings, Inc. (OTC:CWBHF)
[Read More] 2 Marijuana Stocks To Watch To Close Out The Summer
Sundial Growers Inc.
Sundial Growers 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. Back on August 12th, the company released its Q2 2021 earnings report. 
During this time the company’s gross cannabis revenue came to be $12.7 million. This made for an increase of 8% compared to the previous quarter. As well the company did suffer a net loss of $52.3 million for the second quarter of 2021. This new loss is in comparison to $60.4 million in the second quarter of the prior year.
Words From The Company
“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.
SNDL Stock Performance And Market Update
In the first 2 weeks of August SNDL stock was able to sustain a decent market level. Even with some volatile action during this time Sundial was able to keep its momentum going up until the 12th of the month. After this time SNDL stock began to lose its trading momentum which caused a drop in trading. However, towards the end of August, the company was able to find a bit of momentum that helped SNDL stock move back up. From the 20th of August to currently in September the company has been on the rise. With SNDL stock recovering once more investors are keeping watch to see if the Sundial will be able to keep this climb going.
Charlotte’s Web Holdings, Inc.
Charlotte’s Web Holdings, Inc. produces and distributes hemp-based cannabidiol wellness products in the United States. The company is known as one of the leaders in all things CBD. In the second week of August, the company released its second-quarter 2021 financial earnings. 
Some highlights during this time are the company’s revenue increased 11.4% to $24.2 million vs. $21.7 million in Q2-2020. As well the company B2B revenue increased 37.7% year-over-year. Next, the company’s gross profits increased to $15.8 million, or 65.5% of consolidated revenue.
Words From Company
“The ongoing economic recovery from the pandemic that began in Q1 strengthened through the second quarter, driving a 38% increase in our retail revenue as many consumers transitioned from online shopping back to brick and mortar retail. This was especially evident within our largest and most established medical and healthcare practitioner channels,” said Deanie Elsner, CEO of Charlotte’s Web. “We believe we are best positioned to take advantage of the return to brick and mortar retail as we hold the number one share position in the food/drug/mass and natural specialty retail channels in the US. Internationally, we recently planted our first hemp crop in Canada and anticipate initial product sales by early 2022.”
[Read More] Making A List Of The Best Marijuana Stocks To Buy Right Now? 2 To Watch In Q4 2021
CWBHF Stock Performance And Market Update
Over the last month of trading CWBHF stock has been trying to climb back up in the market. In the first 2 weeks of August, the CWBHF stock was holding a promising market position. Even with some price fluctuation CWBHF stock was holding strong for the first half of August. Nonetheless, right after the 13th of August, the company saw a drastic drop in trading. This drop-in trading lasted the rest of August. Currently in September CWBHF stock is starting to rise once again.
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