2 Marijuana Stocks To Add To Your Watchlist In October 2021
For close to a year now many marijuana stocks have been showing good entry levels. Many who are looking to invest in legal cannabis pot stocks may be your way in. As many know marijuana stocks trade in a volatile market. What this means is without warning a company can be up just as quick as it could be down. So what most investors tend to do is only invest in top marijuana companies. What this does is limit the risk based on how big and progressive a company is. Meaning if a company is making money outside the market most times this would indicate to investors that this is a possible buying opportunity.
Now, this is not always the case and you should always conduct thorough due diligence. Researching the sector as well as the industry before investing can be a big help. You always want to give yourself the best advantage to see a return. So by learning about each company and the market it can be a big help when investing. As of late many investors are holding shares of top cannabis stocks waiting for a chance to see a nice return.
Marijuana Stocks And The Progress Of The Cannabis Industry
Many feel the end of cannabis prohibition will be the catalyst needed to see a big run in the sector. Yet this is not set in stone and no way to know if this will happen on the day the end of marijuana prohibition comes. But in the last few months, any news on federal reform has added some upward momentum in the sector. Although being short-lived and not adding any consistency many remain optimistic about future trading for cannabis stocks. The cannabis industry is still young and developing and growing every day. As success and continue within the industry more people will look for ways to invest in legal cannabis. Below are 2 marijuana stocks to watch for better trading in 2021.
Marijuana Stocks To Watch Right Now In The Market
- Sundial Growers Inc. (NASDAQ:SNDL)
- HEXO Corp. (NASDAQ:HEXO)
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. The company offers its products under the Top Leaf, Sundial Cannabis, Palmetto, and Grasslands brands. Back on the 7th of October, the company released news in regards to acquiring Alcanna Inc. Sundial will acquire all of the issued and outstanding common shares of Alcanna. This will be done by way of a statutory plan of arrangement for total consideration of approximately $346 million.
SNDL Stock Performance And Market Update
In the last month and a half SNDL stock has been working to climb back up in the market. This marijuana stock started September on a volatile downtrend. For the better part of September, SNDL stock was not able to sustain sufficient momentum. There was a point at the close of the month where trading did rise and it looked like the company was recovering. However, this rise was not able to continue and SNDL stock started October the same way it did in September. Nevertheless, in more recent trading SNDLstock has started its road to recovery in the market. Yet shareholders are keeping watch for any sudden changes with this marijuana stock.
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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. In addition to Decarb, an activated fine-milled cannabis powder product. The company offers its adult-use and medical products under the HEXO brand name. In recent news, HEXO Corp. announced that Scott Cooper will be President and CEO of the company. Scott joins HEXO from Truss Beverage Co., a joint venture between Molson-Coors Canada and HEXO, where he served as President & CEO.
Words From The New CEO And President Of HEXO Corp.
“It’s my great pleasure to welcome Scott as our new President & CEO,” said Dr. Michael Munzar, Chairman of HEXO’s Board of Directors. “Scott’s two decades of experience in consumer-packaged goods, his success in launching and growing Truss’ innovative portfolio to be the Canadian market leader in cannabis beverages, and experience working in the United States position him well to defend HEXO’s position as a market leader in Canada and secure our place as a top-three global cannabis products company.”
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HEXO Stock Performance And Market Update
Looking at HEXO stock over the last several months you can see the company has run into some trouble. Back at the end of August HEXO stock was hit with a loss of momentum and began to see a substantial fall in trading. This happened on the 20th of the month and continued into September. Unfortunately HEXO stock although showing small volatile pops continued to dip the rest of the month. Currently in October HEXO stock has not done so well in being able to recover from this drop. However, there was a recent upward push that the company was not able to sustain all the way. But the company has not fallen back so low that with a small boost of momentum HEXO stock can’t recover even more.
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