How These Two Marijuana Stocks to Watch Are Doing for August
Often times would be pot stock investors tend to only invest in the top three marijuana stocks by popularity. Although this can be a good choice for liquidity sake, it does undermine the value of other potential pot stocks to watch. Now within the popular pot stock sector, there are several key companies in the cannabis industry. These pot stocks range from mid to large in terms of market cap and are definitely worth watching. Depending on where you look, investors believe that the cannabis industry as a whole could be worth anywhere from $50 to $100 billion within the next decade.
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This number may be a bit of an exaggeration compared to reality, but sales do continue to increase exponentially. During the pandemic, we have witnessed demand for marijuana rise substantially. This rise in demand has helped to fuel very solid earnings reports from marijuana stocks that many believed were on the way down. While we are in no way out of the proverbial woods yet, pot stocks do look to be on the up and up. Investors should continue to look at companies financials before making any decision. But, these two popular pot stocks to watch are definitely worth giving a first or a second look.
A Popular Marijuana Stock To Watch
Aurora Cannabis Inc. (NYSE:ACB) is one of the most popular marijuana stocks in the industry. Many believed back in the day that ACB stock had seen its prime. But, low and behold it seems as though ACB stock may be here to stay. After reporting very solid third-quarter results recently including an almost 20% revenue jump, ACB stock quickly shot up. And although it has yet to show profitability in its reporting, it has worked to cut its spending quite greatly. This means that investors are becoming more and more comfortable with the idea of investing in Aurora Cannabis.
Recently, it has been working on its place in the German cannabis market. Although Europe still represents a very small part of the cannabis industry, it could be major in the next decade. The company has also stated that it is working on building its market in the U.S. CBD space which could prove very solid for Aurora. Because of this, there is a lot of optimism abound surrounding this major marijuana stock. As stated before, the lack of profitability is still concerning. But, the company does look well on the way to making that happen. Because of that, many continue to view it as a marijuana stock to watch.
A Marijuana Stock In A Solid Position
Cresco Labs Inc. (OTC:CRLBF) is quite a popular marijuana stock for investors. In the past consecutive four quarters, CRLBF stock has shown positive adjusted EBITDA which is more Tham most can say. After acquiring Origin House a few months ago, the company has since shown a major amount of profitability. CRLBF stock continues to show massive momentum due to its 60 quarter on quarter revenue growth. Because of this, many view it as a popular pot stock to watch.
One of the main ways that Cresco is growing is through its home market of Illinois. Because the Illinois cannabis industry just began recently, there is a large amount of untapped potential there. In addition, it has made its mark on the California market as well which as many know, is the largest in the world. Because of its advantageous position in the cannabis industry, CRLBF stock is well poised to continue seeing growth moving into the next few months and beyond.
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