2 Top Marijuana Stocks To Watch Before Next Month
In recent trading, some marijuana stocks are starting to see more momentum. Now, this is not for all cannabis stocks but it’s a good sign that more companies may follow suit. At times when one or more marijuana stock begins to see better trading others tend to follow the same pattern. Yet this is not always the case and some marijuana stocks need a different catalyst to see a rise in trading. In close to the last year the cannabis sector has been in a downtrend. Although the end of July early August was the first real sign of upward trading since mid-February.
This initial rise at the time restored some faith in investors who felt that the sector would not recover. Now, much of the recent movement has been caused by the fight for federal reform. As well as some cannabis companies releasing news in regards to updates and financial reports. A combination of the 2 has helped bring in some much-needed momentum into the sector. Right now with the sector being a lower average many people are looking for the best marijuana stocks to buy. The reason is to be prepared for the eventual passing of federal reform.
The Cannabis Industry And Marijuana Stocks
A good amount of people feel the ending of marijuana prohibition will help to create a run in the sector. Still, there is no way to know for sure if a run will happen. However, history has shown that progressive news on federal reform has helped move the needle for some marijuana stocks. If you’re someone who is looking to invest in legal cannabis may want to start with marijuana stocks. Especially with how fast the cannabis industry is growing and the innovation that has followed. Below are 2 marijuana stocks to watch in 2021 that may see better trading.
Top Marijuana Stocks To Watch In Today’s Market
- High Tide Inc. (NASDAQ:HITI)
- IM Cannabis Corp. (NASDAQ:IMCC)
High Tide Inc.
High Tide Inc. is in the cannabis retail business in Canada, Europe, the United States, and internationally. The company designs manufacture and distribute smoking accessories and cannabis lifestyle products. It is also involved in the wholesale and retailing of cannabis products, as well as operates and franchises licensed retail cannabis stores. In addition, the company provides data analytics services, as well as operates Grasscity.com and CBDcity.com platforms. In recent news, the company announced it has expanded Canna Cabana store footprint in Saskatchewan and Ontario.
These openings bring High Tide’s total number of branded retail locations across Canada to 103. This also includes 6 in Saskatchewan and 31 in Ontario. Both stores sell recreational cannabis products and consumption accessories. The new Canna Cabana store in Regina is High Tide’s second to open in the community. As well the new Canna Cabana store in Hamilton is also High Tide’s second to open in that area. Which is Canada’s 10th-largest city with a population of over 535,000.
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Words From The CEO
“I am very pleased that even more customers in Regina and Hamilton will be able to access our unique cannabis discount club experience for all of their cannabis products and consumption accessories needs. Ensuring value for our customers has always been our priority, and with our new concept, everyday low prices, and an unmatched selection of high-quality consumption accessories and cannabis goods, I am positive that we are ideally positioned to deliver even more value for customers in these markets,” said Raj Grover, President and Chief Executive Officer of High Tide.
IM Cannabis Corp.
IM Cannabis Corp. engages in breeding, growing, and supply of medical cannabis products in Israel, Germany, and Canada. It offers strains under the Roma, Dairy Queen, London, Tel Aviv, Paris, and Pandora Box brands; and CBD oil products under the IMC brand. Not long ago the company announced the third installment of shares in connection with the previously announced acquisition of the Panaxia. IMC Holdings will acquire Panaxia’s trading house license and in-house pharmacy activities, for an aggregate purchase price of $7.2 million. 
The Panaxia Transaction purchase price was to be satisfied by a combination of $2.9 million in cash. Which will follow with $4.3 million in common shares of the Company. The Cash Consideration was paid in two installments according to the terms of the Transaction. To satisfy the share consideration component of the Panaxia Transaction, the Company will issue a total of five installments of Consideration Shares.
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IMCC Stock Performance And Market Update
In the last month do trading IMCC stock has been on a volatile ride. Trading in the last week of September IMCC stock was on an uphill climb in the market. Yet in the first several days of October, the company seemed to be continuing its rise in the market. However, after the 4th of October, this marijuana stock was not able to sustain its climb. Which led to a drop in trading. This dip lasted until the 7th of October and then began to recover. But after the 15th of October, the remainder of the month IMCC stock started to drop once again. Currently IMCC stock is still down. But with a new month around the corner, it’s possible to see this marijuana stock recover in November.
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