2 Marijuana Stocks To Keep Watch During The Middle Of October
Marijuana stocks are still facing a pullback in the market. Even though now is a good time to find top cannabis stocks to buy. Yet the many want to know when will pot stocks show better upward consistency in the market. Currently, many new developments are taking hold of the cannabis industry. For starters as most people who are involved in the sector know federal reform is the main focus right now. With how far legal cannabis has come in the United States enacting the end of marijuana prohibition should take place.
Not to mention having financial institutes work with cannabis-related businesses. With these 2 legislations put into law, it will be a long-overdue victory for those who work in the cannabis industry. With the end of federal cannabis prohibition, it will open doors that were once closed due to federal restrictions. Which is the same situation with banks and credit unions. Now as more states start to reach over a billion dollars in revenue operating in all cash is posing more risk day by day. Recently these 2 pieces of legislation have both passed the House and now await to be sent to the Senate.
When these bills passed the House it created a good amount of upward trading among many marijuana stocks. Investors are now preparing for the future by adding as many cannabis stocks to their portfolios before the next potential run. The reason for this the sector is performing at a lower average and people are taking advantage of it. The progress many cannabis companies have seen over the last few years has displayed true growth potential. For this reason, now much more people are starting to look for ways to invest in legal cannabis. Below are 2 marijuana stocks to watch in 2021.
Top Marijuana Stocks To Watch Right Now In 2021
Cresco Labs Inc.
Cresco Labs Inc. together with its subsidiaries cultivates, manufactures, and sells retail and medical cannabis products in the United States. It provides cannabis in flowers, vape pens, live resins, disposable pens, and extracts under the Cresco brand. At the close of September, the company announced some important info.
Cresco announced the exit agreements under which Cresco Labs served as the exclusive distributor. Particularly of certain third-party branded products in California. The decision marks the latest step in Cresco Labs’ multi-year strategy. A process to increase profitability and shift toward owned-brand distribution in the world’s largest and most competitive cannabis market.
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Words From The Company
“California became a foundational state for Cresco Labs early in 2020, as we began operating the Continuum distribution platform to bring a curated portfolio of leading brands to California retailers. Thanks to partnerships with top-performing brands like Kings Garden, we have achieved significant scale and penetration in the state. The progression of our distribution strategy has led to owned-brand FloraCal now consistently landing among the top-15 flower brands in California and Cresco Liquid Live Resin among the top-10 live resin brands,” said Charlie Bachtell, CEO and Co-Founder of Cresco Labs.
CRLBF Stock Performance And Market Update
Since the start of September CRLBF stock began the month with a significant drop in trading. This drop with CRLBF stock lasted until the middle of September. It wasn’t until the 14th when the company began to see a recovery. From the 14th of September to the 27th CRLBF stock was able to see a substantial rise in trading before the start of October. Right now CRLBF stock has dipped down in October and is working to rise back up.
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. It also operates dispensaries that provide cannabis, cannabis extracts, and infused products. In recent news, the company announced the completion of its acquisition of a Florida cannabis license.
Words From The CEO Of Planet 13
“We are excited to get started building out our footprint in Florida. Initially, our focus will be on a network of high performing neighborhood stores modelled off our successful Medizin dispensary along with cultivation and production to bring our portfolio of top-selling products to Florida,” said Robert Groesbeck, Co-CEO of Planet 13. “As Florida gets closer to legalizing adult-use sales, we will start on our world-famous SuperStores in high traffic tourist destinations throughout the state.”
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PLNHF Stock Performance And Market Update
In the last 4-6 weeks PLNHF stock has been on a volatile downtrend. In the last month, PLNHF stock was trading down with some small upticks along the way. Much of this trading pattern continued for the month of September for this marijuana stock. At the end of September, PLNHF stock saw a nice rise prior to dropping entering into October. Right now PLNHF stock is down but is working to build back its lost momentum.
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