Could These Be The Top Marijuana Stocks To Watch Today?
Marijuana stocks are still showing levels that represent good buying opportunities. Yet with how unpredictable the cannabis sector can be some are approaching marijuana stocks with more caution. Although now seems to be a good time to buy the way sector has performed in the last 6 months has made others nervous. From the end of 2019 to the first 2 months of 2021, many marijuana stocks were on a consistent upward trend. Even when the sector would dip it would recovery in a shorter amount of time.
During this time some pot stocks would drop and recover to higher market levels. Now in the current day that is not the case for the sector. People are still trying to figure out if the level at which the sector is averagely trading will be the new norm. It seems as the cannabis industry has grown and become more regulated people are seeing less speculation. Meaning before the industry was as developed as it is now many people would see certain cannabis stocks run just on speculation.
But once again that is not what’s happening in today’s market. More cannabis companies are consolidating and joining forces through mergers and acquisitions. This is creating what is known to some in the industry as super companies. Things are a bit more concrete than they once were. So right now it’s a bit easier to rely on facts versus what some may think may happen which is speculative trading. Yet this still does occur as the industry is still growing and facing one of its bigger hurdles. Which is ending cannabis prohibition in the United States. Or enact some type of progress with federal cannabis legislation. With the right system in place, it is possible to see the sector run once more.
Top Marijuana Stocks For Your 2021 Watchlist
- OrganiGram Holdings Inc. (NASDAQ:OGI)
- Acreage Holdings, Inc. (OTC:ACRHF)
OrganiGram Holdings Inc.
OrganiGram Holdings Inc. through its subsidiaries produces and sells cannabis and cannabis-derived products in Canada. It offers cannabis flowers, extracts, edibles and oils, beverages, and other cannabis products for the adult recreational market. In one of the company’s more recent updates, OrganiGram has announced it has filed a final base shelf prospectus. The filing was done with the securities commissions in each of the provinces and territories of Canada. 
The Base Shelf Prospectus enables Organigram to qualify the distribution of up to C$500,000,000 of common shares, preferred shares, debt securities. In addition to subscription receipts, warrants, and units during the 25-month period that the Base Shelf Prospectus remains effective. The particular terms of any future offering of securities will be established in a prospectus supplement. Which is to be filed with the applicable Canadian and US regulatory authorities. The Base Shelf Prospectus will provide flexibility for financing options to pursue the Corporation’s objectives.
[Read More] 2 Marijuana Stocks To Watch Halfway Through September
OGI Stock Performance And Market Update
In the last 3 months of trading OGI stock has been moving around in a volatile market. At the start of July OGI stock was able to build any upward momentum. In the first 7 days of July, the company began to drop in trading. After the 7th of July is when OGI stock began to see a change in momentum. This led to seeing a bounce in trading for OGI stock. From the 7th of July to the 13th the company saw a nice uptick in trading before dropping back down.
Much of the trading after was done at a lower market position with small upticks. But nothing that the company was able to sustain even with a bounce in trading right before the start of August. Similar to July OGI stock started August with drop-in trading the first week and saw a nice run the next. Ultimately OGI fell once more and recovered right before the start of September. Currently OGI stock is down yet it seems it may see another bounce. But only if it follows the same trading pattern it has for the last 2 months.
Acreage Holdings, Inc.
Acreage Holdings, Inc. formerly High Street Capital Partners, is a principal investment firm specializing in the cannabis industry. On September 7th the company announced the unfortunate news that it has suffered damages to its Sewell Facility. These damages were caused by hurricane IDA. This affected the completion of the construction that’s located in New Jersey.
Words From The Company
“The damage will significantly delay the opening of the Sewell cultivation center,” said Steve Goertz, Acreage’s Chief Financial Officer. “Based on currently available information, we do not expect the damage to our operations from these events to have a material impact on our current financial condition. Production at our Sewell facility, however, is unlikely to commence in the first quarter of 2022 as previously expected.”
[Read More] Canadian Marijuana Stocks In September 2021
ACRHF Stock Performance And Market Update
In the last month and a half, ACRHF stock has been on an incremental downtrend. At the start of August, ACRHF stock saw a loss in market momentum. From that point, there were some small upticks but nothing significant enough. For the rest of August and even now in September ACRHF stock has continued to drop. This brings shareholders the question of what will it take to see a bounce. While nothing is a 100% sure answer in the cannabis sector some investors will be watching this cannabis stock closely.
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