These Marijuana Stocks May Be Good Fit For Your Watchlist Find Out Why
In the last few days of trading marijuana stocks right before the close on Friday were performing a little better. In the last 6 months of trading, the cannabis sector has dropped significantly. Now some investors called this drop from before the start of the new year. The reason for this belief is due to how high many marijuana stocks were trading. If we look back at marijuana stocks before mid-February of 2021 you can see a pattern of upward trading.
This consistent rise looked to be unstoppable due to how unregulated the cannabis industry was at the time. Meaning before federal reform was a bigger priority having more states go legal made the needle move. Also, companies showing positive financial and operational developments which increased elevations for these companies as well. With all that said these people felt even as they made their gains that this consistency would not last forever.
At some point, the sector will drop as things become more regulated. On the flip, there are those who felt this drop in the sector would either be short-lived not reach the magnitude its currently at. Many investors who bought cannabis stocks before mid-February have has issues making their money back. Even as investors may have purchased the dips to lower their average during the downtrend it hasn’t helped much how they felt it could.
Current Cannabis Stock Market Trends And Updates
As of late, it seems the only real boost in trading is when progressive news about ending cannabis prohibition is released. Nevertheless with the sector trading at an overall lower market level now is another good time to find top marijuana stocks to buy. Just make sure to do your research and keep your eyes on the market for any changes. Below are 2 marijuana stocks to watch right now in 2021 that may begin to pick up in trading this month.
Marijuana Stocks To Add To Your 2021 Watchlist
- Greenlane Holdings, Inc. (NASDAQ:GNLN)
- GrowGeneration Corp. (NASDAQ:GRWG)
Greenlane Holdings, Inc.
Greenlane Holdings, Inc. sells cannabis accessories, child-resistant packaging, and specialty vaporization products in the United States, Canada, Europe, Australia, and South America. At the start of August, the company released news about finalizing its merger with Kushco. The venture is creating a leading ancillary marijuana company along with a house of brands. This deal implements a strong executive leadership team that will appoint three new directors.
The Company’s Class A common stock (“Greenlane Shares”) will continue to trade on the NASDAQ. This will be done under the ticker symbol “GNLN”. Each KushCo stockholder is entitled to receive 0.3016 of a Greenlane Share for each share of KushCo common stock held on August 31, 2021. Which is the effective date of the Transaction.
Words From The Company
“I am thrilled by the strong support our customers, employees, and shareholders have shown for this transformative merger and excited to welcome Nick and our new colleagues to the Greenlane team,” said Aaron LoCascio, Co-Founder and President of Greenlane. “I am convinced that together we will continue to drive innovation and build the industry’s leading ancillary cannabis company that is incredibly well positioned to provide both exceptional service to our customers and create long term value for our shareholders.”
GNLN Stock Performance And Market Update
From mid-July to the start of August GNLN stock was holding a market position that the company could have built from. Now at the start of August GNLN stock encountered a drop in trading momentum for the better part of the month. This loss in momentum led to GNLN stock seeing a big drop in trading. It wasn’t until the end of August right before September when GNLN stock started its path to recovery. Currently GNLN stock is up and investors will watch and see if this cannabis stock to watch will further climb this month.
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GrowGeneration Corp.
GrowGeneration Corp. through its subsidiaries owns and operates retail hydroponic and organic gardening stores in the United States. Back on August 24th GrowGen announced it has acquired Commercial Grow Supply, a hydroponic superstore located in Santa Clarita, California.
This venture will strengthen the company’s foothold in southern California. The acquisition brings the number of GrowGen locations in California, to 22, with 10 locations in Southern California. Which is a huge accomplishment for a cannabis company to thrive in a major way in the country’s largest cannabis market.
Words From GrowGeneration’s CEO
“Southern California continues to be a vital market for GrowGeneration, and we’re thrilled to add Commercial Grow Supply to our growing number of locations in the Los Angeles region,” said Darren Lampert, GrowGeneration’s CEO. “As the leading hydroponics retailer in Santa Clarita, Los Angeles County’s third-largest city, Commercial Grow Supply boasts a devoted customer base and unmatched cultivation expertise which will help GrowGen better serve Southern California’s growers.”
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GRWG Stock Performance And Market Update
In the last month, and a half of trading GRWG stock has been through its share of volatile trading. Mid-July through the first week and a half of August GRWG stock saw a nice upward push. This set off the month of August with some positive momentum. However, right after the 9th of August things began to change for GRWG stock. Around this time the company began to see a drastic drop in trading for the rest of the month. At the end of August, the company started to rise a bit. But it wasn’t at the level it once was. As of now GRWG stock is up and slowly climbing as trading in September continues for this marijuana stock.
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