These Marijuana Stocks Are On Ther Way To Seeing Better Trading In 2021
It seems for marijuana stocks the current trading pattern in the market is showing how fast each company fluctuates in price. For starters marijuana stocks trade in an unpredictable sector. This uncertainty has caused some investors upset and heartache. At one point in time when a company would face a bit of pullback in the market, it would recover to the same or a higher market level. In the last 4-6 months this has not been the case and most progressive updates or news has not added any positive sentiment to the way marijuana stocks perform.
Even with marijuana companies releasing solid Q2 2021 earnings, it’s not adding as much momentum as it used to. So now investors and people of the industry are left wondering what will it take to see more consistent upward trading. It seems the only factor people care to see is federal cannabis reform. Most times when the cannabis industry establishes better legislation it resonates well with how marijuana stocks perform.
Now some pot stocks have been able to see a nice recovery even with the market down. Some of these marijuana stocks are ancillary companies that have other areas of business outside of cannabis. Overall the future of marijuana stocks does look promising. But with how the market is currently performing it may take some time to see this correction.
Marijuana Stocks And Federal Cannabis Reform
Once federal reform is passed some feel it’s possible to see the entire sector run back to levels before the downtrend. However, there is no way to know when or if this will happen. But as of now, people are still adding more cannabis stocks to their portfolios. It’s better to prepare for the day a big jump in trading occurs versus not being ready at all. Furthermore with how low the sector is now may be the time to find marijuana stocks to buy.
Top Marijuana Stocks To Watch Right Now In 2021
Clever Leaves Holdings Inc.
Clever Leaves Holdings Inc. cultivates, extracts, manufactures and commercializes pharmaceutical-grade cannabinoid products in Colombia, Portugal, Germany, the United States, and Canada. The company operates through two segments, Cannabinoid and Non-Cannabinoid. During the second week of August Clever Leaves Holdings releases its Q2 2021 earnings.
Some highlights to mention are the company Q2 revenue went up by 89%. As well the company’s gross profits went up 157% year over year. In addition to this, the company, unfortunately, suffered a net loss of $9 million compared to $8.8 million. But in a more positive light, the company Adjusted EBITDA improved to $5.8 million compared to 6.7 million.
Words From The Company
“Our second quarter performance marked sustained progress towards our long-term vision, as we continued to optimize our positioning within the global cannabinoid supply chain,” said Kyle Detwiler, CEO of Clever Leaves. “The nearly 4x year-over-year growth of our cannabinoid segment, as well as continued recovery from COVID-related challenges affecting our non-cannabinoid business, drove our revenue growth during the quarter, while our market-leading cultivation and production efficiencies led to improvements in adjusted EBITDA. We increased the depth and breadth of our global partnership network by sending our first commercial flower shipment to Australia, and we also marked our entrance into the Mexican market through a new commercial partnership.
CLVR Stock Performance And Market Update
Over the course of the last month or so, CLVR stock has certainly felt the impact of the volatile trading. Yet for this particular marijuana stock trading has fared better in comparison to other cannabis companies. At the start of August, CLVR stock was slowly building its momentum. In the first 2 weeks of August, the company was starting to climb and reached a promising market position.
From the 2nd of August to the 13th CLVR stock jumped up 25%. Which in the current environment of the sector is a significant increase. However, after the 13th, the company was not able to keep its run going and began its descend in the market. So far in the 2nd half of August CLVR stock has been trying to rise back up but has yet to do so. Now with a new month ahead of investors, this marijuana stock could see a recovery in the near future.
TPCO Holding Corp.
TPCO Holding Corp. cultivates, extracts, manufactures, distributes, retails, and delivers cannabis in California. The Parent Company gained more notoriety once Jay Z became the owner of the company. In one of the more recent company updates, TPCO Holding announced the expansion of its product portfolio.
This is being done with the launch of Well by Caliva lotions and tinctures. The Parent Company’s new line of products aims to meet consumers and their desired effects head-on. The launch of the wellness line marks The Parent Company’s first CBD- and THC-based line of self-branded wellness geared products.
Words From TPCO Holding Corp.
“We are excited to be expanding our wellness category with the release of our line of CBD and THC lotions and tinctures” shared Dennis O’Malley, COO of The Parent Company. “As part of The Parent Company’s mission to provide access and entry points into cannabis, we knew that a wellness line that uses the combination of CBD and THC for more powerful effects would be attractive to consumers. Our new line of Well by Caliva products offer the same high quality that consumers have come to trust from The Parent Company, at an affordable price.”
GRAMF Stock Performance And Market Update
In the last 4 weeks of trading GRAMF stock has faced the same issues with seeing better trading. Even before August, this particular marijuana stock has been on a consistent downtrend from the middle of January 2021. Now outside of the market progress is being made but it has yet to help how GRAMF stock performs. The entire month of August GRAMF stock is still dropping and shareholders are left waiting to see what will change that.