Are These Canadian Cannabis Stocks Worth Being In Your Portfolio?
Many cannabis stocks are seeing a jump in trading after the House has pushed through a marijuana banking measure. A good amount of people in the cannabis industry feel that federal cannabis reform is what is going possibly the sectors average up in a major way. From late 2020 right around the election time to early 2021 marijuana stocks were showing more upward consistency. Yet for some time now the entire sector has dropped in trading until recently.
With a bigger push around federal cannabis reform, it is creating more momentum in the market. This newfound momentum is leading some pot stocks to see higher market levels. But what investors want to know is how long will this rise last? Some feel that this rise in trading may possibly last until the SAFE Banking Act is voted on by the Senate.
To which if the Senate does clear the bill it may very well bring the sector up even higher. Again this is not set in stone just some predictions from those who invest in cannabis stocks. From the 20th to 24rd of September essentially has been one of the better weeks of trading for most marijuana stocks.
Cannabis Stocks Investing In A Volatile Market
So now it seems as some shareholders are taking a bit of long-overdue profits and keeping the rest of their position. This is so if the sector runs even higher they will still have some skin in the game. Meaning investors will still have some shares left to possibly see even bigger gains. Right now people are waiting to see what the Senate will do once the bill is ready to be voted on. Prior to this news, the sector was not showing too much momentum and companies continued to drop. So as of now with more momentum in the sector investors are hoping this upward climb is more consistent.
Marijuana Stocks For Your 2021 Watchlist
- Tilray, Inc. (NASDAQ:TLRY)
- HEXO Corp. (NASDAQ:HEXO)
Tilray, Inc.
Tilray, Inc. engages in the research, cultivation, production, marketing, and distribution of medical cannabis products. The company operates through five segments: Cannabis Business, Distribution Business, Beverage Alcohol Business, Wellness Business, and Business Under Development. In the last 4-6 weeks Tilray, Inc. has made some important company updates.
Back on August 26th chairman and CEO Irwin D. Simon sends a shareholder letter that shows a strategy of a $4 billion revenue plan. Following this news release, the company also announced that it recently took part in the global consumer staples conference. This conference took place on September 10th on this date as well Tliray also released some more company updates. The stockholders announced the approval to a proposal to increase authorized shares at a special meeting.
Words From The CEO
Irwin D. Simon, Chairman and CEO, Tilray said: “We brought together Tilray and Aphria less than five months ago with a clear vision to create the world’s leading cannabis-focused consumer brands company. Since that time, we have been laser focused on capitalizing on the strength of our unparalleled geographic footprint and operational scale to drive the performance of our Company. Due to the support of our stockholders, Tilray now has the resources we need to build on our momentum and execute on our plans. We sincerely thank our stockholders for their investment in the Company and we are committed to driving strong value creation now and into the future.”
[Read More] Hot Marijuana Penny Stocks To Watch Right Now
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. 
In the last month or so HEXO Corp has made some announcements about the company. At the end of August, the company announced the closing of the Redecan transaction. Following this release on the 1st of September HEXO announced the closing of its arrangement with 48North. Through this venture, HEXO has acquired all of the issued and outstanding common shares of 48North. This was done by way of a court-approved plan of arrangement under the Canada Business Corporations Act.
In more recent news HEXO has achieved carbon neutrality. In June of 2021, HEXO embarked on a mission to counteract its carbon footprint, through a partnership with Offsetters. s a leading cannabis player in Canada, on the path to becoming one of the top three global cannabis products companies, it was important for HEXO’s offset investments to have a global reach.
Words From The Company
“At the start of the summer, we pledged that HEXO would not only become carbon neutral, but that we would also offset the personal carbon emissions generated by every one of our employees. Today we are proud to say we have achieved our goal, setting a new standard in sustainability for our industry,” said HEXO Corp. CEO and Co-founder, Sébastien St-Louis
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