Will These Marijuana Stocks Survive In The Market?
As May continues to be a volatile time some marijuana stocks have started to build up more market momentum. At the start of May, some investors continued to grow with doubt as cannabis stocks were a bit slow to rise in trading. The first week of the month most marijuana stocks continued to lose momentum like the months before. Now during the second week of May, the sector displayed a bit more volatility.
Meaning that during that time shares of certain marijuana stocks started to climb but eventually fell back down. Now with cannabis stocks moving back up in the market investors who bought the dip will soon see a nice return. Yet this only holds true if the sector continues to rise. During the 2nd week of February, marijuana stocks began to fall. This drop-in trading presented a solid opportunity for those looking for the best marijuana stocks to buy.
Especially some marijuana stocks that may have been too much money for some. Over the last 3 months many if not all the top marijuana stocks to watch dropped. This fall in the market allowed for some to take the chance to buy some top cannabis stocks at lower entry points. However, the sector has not fully recovered but it’s on its way. Although there is no solid way to determine when the next drop may occur which is why some investors still trade with caution.
Yet if things do continue to rise despite a recent dip it will allow for those who have been waiting to take some profit the chance to do so. It’s been a tough ride since mid-February for the cannabis sector. However, things are starting to slowly look better for some marijuana stocks. With the last half of May here investors continue to keep watch for any new action with marijuana stocks.
Marijuana Stocks To Watchlist This Month
- TILT Holdings Inc. (OTC:TLLTF)
- Canopy Growth Corp. (NASDAQ:CGC)
TILT Holdings Inc.
TILT Holdings Inc. is a worldwide provider of cannabis business solutions. Some of the services involve inhalation technologies and cultivation. As well as manufacturing, processing, brand development. In the company’s most recent news release they announced Gary Santo will be appointed as the Company’s new Chief Executive Officer. Mr. Santo who is also the President of the company will start the position on June 1st, 2021. Current CEO Mark Scatterday will continue to serve as Chairman of the Board. But he will now work closely with Mr. Santo and the senior management team.
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Words From The Company
“This is an exciting time for TILT and the cannabis industry as consumer adoption and demand continues to accelerate,” said Mark Scatterday, current Chairman & CEO of TILT. “Since joining TILT last year, Gary has been an integral part of our leadership team as he brought a wealth of experience in both cannabis and other highly regulated sectors. His development and implementation of our long-term strategy has been key to our return to growth and profitability. I look forward to continuing to work closely with him, our board and the research and development team.”
Hopefully with a change in CEO will lead to sustaining a bit more trading momentum. Over the last 3 weeks of trading, TLLTF stock has been faced with a continuous drop in trading. At the start of the month, the company was trading a bit sideways but no upward push came from it. From the 13th to the 18th TLLTF stock started to catch a small wave of momentum. Yet the company could not continue to keep its rise going. Currently TLLTF stock is working to see better trading before the end of the month.
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Canopy Growth Corp.
Canopy Growth Corp. is valued as one of Canada’s top cannabis stocks to watch. The company is known for running a world-leading diversified cannabis, CBD, and vaporizer business. This past month Canopy announced it has penned down a U.S. distribution deal with Southern Glazer’s Wine & Spirits. This deal was designed to find distribution for Canopy’s U.S. portfolio of CBD-infused beverages.
“Through this groundbreaking partnership, we will leverage Southern Glazer’s established distribution network to bring our CBD beverage portfolio to retailers and consumers across the U.S. market,” said Julious Grant, Chief Commercial Officer, Canopy Growth. “The leadership team at Southern Glazer’s shares our values, priorities, and future-forward view of the category. Together, we are committed to creating an immediate strategic route to market for Canopy’s premium CBD beverages.”
In regards to how CGC stock has been trading it’s a tough call for some investors. Most Canadian cannabis stocks have been negatively impacted by the slow start to the country’s cannabis market. In addition to the loss of momentum in the sector. CGC stock has been a consistent drop for quite some time. Yet a small spec of momentum started at the end of last week which ended on the 18th. After this time CGC stock began to drop once more. Right now it’s going to take a significant turnaround in trading for investors to find renewed faith in this Canadian marijuana stock.
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