2 Marijuana Stocks To Watch As The Cannabis Industry Continues To Thrive
As of late cannabis stocks have been facing a bit of pullback in the market. This has once again made it a simpler task to find top marijuana stocks to buy at lower prices. The only concerns are is it really a good buy and how long will it take to see a return. Some marijuana stocks as they dip and people buy shares is they tend to dip down even further. This has been a topic of discussion for some investors.
Now if you buy the same cannabis stock on every dip it will lower your average. However when the sector does bounce it’s not at a level where investors are seeing the type of returns they had hoped for. It seems it will take something major to bring the sector back up to anything close to what it was before the recent downtrend. Even with some marijuana companies releasing solid earning reports it has not added any real positive sentiment for the sector.
But on the optimistic side of things, many people have been buying more marijuana stocks due to how much the sector has dropped. Right now investors and shareholders are trying to stay patient to see what will come. Yet the cannabis industry as a whole is still growing and thriving in a big way. Some cannabis companies have reported record-breaking earnings and others have expanded their operations.
Market Update And Industry Progress
What some tend to forget is that marijuana stocks are only one aspect of investing or being involved in the cannabis industry. Although the road less travel for many is investing into the market but with how the sector has been its raising more caution. In 2021 much growth has taken place hopefully the more the industry evolves it will add more momentum for marijuana stocks.
Top Marijuana Stocks To Watch Right Now In 2021
- Tilray, Inc. (NASDAQ:TLRY)
- Cronos Group Inc. (NASDAQ:CRON)
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Tilray, Inc.
Tilray, Inc. engages in the research, cultivation, production, marketing, and distribution of medical cannabis products. The company operates through five segments: Cannabis Business, Distribution Business, Beverage Alcohol Business, Wellness Business, and Business Under Development.
In recent news, the company announced the launch of new medicinal edibles in Canada. The company has these cannabis edibles in THC and CBD-rich varieties of chocolates and soft chew gummies. The new Tilray-branded medical cannabis edibles are now available for patients across Canada.
Words From The Company
Irwin D. Simon, Tilray’s Chairman and Chief Executive Officer, said, “Whether it’s pain management, anxiety treatment, or everything in between, patients are asking for more choices in the medical cannabis category, and Tilray remains committed to the innovations that improve patient wellbeing. As cannabis regulations evolve around the world, we look forward to offering our global patient community the highest-quality medicines they depend on for health, wellness and wellbeing.”
TLRY Stock Performance And Market Update
In the last 8 weeks of trading TLRY stock has been working to climb back up in the market. In the first 9 days of June, the company was starting to slowly rise back up. Yet right after this time TLRY stock started to dip back down and kept on this trend for most of the month. Moving into July trading continued to fall for TLRY stock. Currently in August TLRY stock is still down but the hope is with more industry progress it will help create more trading momentum.
Cronos Group Inc.
Cronos Group Inc. is one of Canada’s top cannabis stocks to watch in the market. The company operates as a cannabinoid company. It manufactures, markets, and distributes hemp-derived supplements and cosmetic products through e-commerce. In addition to retail, and hospitality partner channels under the Lord Jones and Happy Dance brands in the United States. The company is also involved in the cultivation, manufacture, and marketing of cannabis products for the medical and adult-use markets. The company recently reported that it has appointed Bob Madore as Chief Financial Officer.
Words From The CEO
“We are pleased to add a leader of Bob’s caliber to the Cronos Group team,” said Kurt Schmidt, President and Chief Executive Officer of Cronos Group. “Bob brings to Cronos Group a proven track record of financial leadership spanning an impressive and diverse 30-year career. His operational capabilities and experience at high profile global consumer brands make him the ideal person to be our next CFO. We look forward to Bob playing a key role in our efforts to capitalize on growth opportunities as Cronos Group continues to execute our regional strategies and R&D and innovation work at the brand level.”
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CRON Stock Performance And Makret Update
Since the start of June CRON stock started on a volatile path but was able to maintain a decent market position. Yet this was only for the first 9-10 days of June. Right after this time, CRON was slowly losing its trading momentum. From the 18th of June to the 24 of the month the company started to see a bounce in trading. However, the few days before the start of July CRON stock dropped back down. Unfortunately even with some small spikes in trading from July to August CRON stock is still having issues.
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