Should You Put These Marijuana Stocks On Your August Watchlist?
Marijuana stocks are still enduring a good amount of price fluctuation in the market. This volatility has been playing a major role in the performance of the sector. With the sector trading at lower prices, some are looking for the best marijuana stocks to buy. Many feel it is possible that cannabis stocks will recover back to levels near what was seen before the downtrend. But the question remains what will be the market catalyst to get it done?
Even while success outside of the market is happening for cannabis companies it has not added enough positive sentiment for marijuana stocks. As of late the focus for better trading has been circulating around earings being released and cannabis reform in the United States. With earnings starting to be released in August this may be a good starting point to see a big rise in the sector.
The reason behind this is with the release of good earnings from a company investors feel other companies will follow the same path. Next with not only more states going legal having federal cannabis reform in place creates more opportunity for the industry. Meaning that ventures that were once illegal due to federal law would now be legal. In addition to this with legalizing cannabis on a federal level, some feel it could be a saving grace to Canada’s legal market.
But still, no one truly knows what it will take to see an overall rise in the sector. Yet with the above factors, it’s possible these may be the initial start to seeing a bigger jump with top cannabis stocks. Currently, pot stocks are still working to build up more consistent trading momentum. All in all, make sure to do your due diligence when looking for cannabis stocks to buy in 2021.
Top Marijuana Stocks To Watch In 2021
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 the company’s most recent news it announced they have appointed Beena Goldenberg as the new CEO.
Ms. Goldenberg will assume the role effective September 9, 2021. Ms. Goldenberg has more than 30 years of experience in consumer-packaged goods, manufacturing and marketing. As President and CEO of The Supreme Cannabis Company Inc., she successfully achieved 50% growth in the first year.
Words From The Company
“We are delighted to welcome Beena to the Organigram team,” says Peter Amirault, Executive Chair, Organigram. “Beena has an impressive track record of building exceptional consumer businesses and is known for creating engaging workplace environments that encourage the development of strong teams that are empowered to achieve industry leading results.”
OGI Stock Update And Market Update
At the start of June OGI stock was looking good but later into the week decline started to occur. Right after the 6th of June OGI stock faced some market volatility that led to a drop in trading. This dip took place the rest of June moving into July. At the start of July, the OGI stock was still trading down for the first week.
Trading after the 7th of July began to pick up for the company. From the 7th to the 13th of July OGI stock saw a 13 percent jump in trading. During this time it was a good chance for some shareholders and investors to capitalize off this market movement.
Yet from this point was not able to keep its climb going and started to descend in the market once more. The company was not able to see significant rises but did have some volatile spikes on its downtrend. Currently, in August the OGI stock is working to sustain its current rise for the rest of the month.
Cronos Group Inc.
Cronos Group Inc. is known as one of the top Canadian cannabis stocks to watch. The company operates as a cannabinoid company. It manufactures, markets, and distributes hemp-derived supplements and cosmetic products through e-commerce. As well as retail, and hospitality partner channels under the Lord Jones and Happy Dance brands in the United States.
Cronos is also involved in the cultivation, manufacture, and marketing of cannabis products for the medical and adult-use markets. In the company’s recent news they have announced the release of their 2021 Q2 earnings. During this time the company’s made a net revenue of $15.6 million in Q2 2021.
Which is an increase of $5.7 million from Q2 2020. Next, the company also lowered its capital expenditures to $2.1 million in Q2 2021 from $6.5 million in Q2 2020. However, in Q2 of 2021, the company did report some losses but overall progress was made.
Words From The CEO
“This quarter, Cronos Group continued to bring high-quality and insight-driven products to market. I am particularly proud of the Spinach™ brand gummy innovation launched this quarter into the Canadian adult-use market, SOURZ by Spinach™, which has quickly jumped to be one of the most desirable products in the edibles category. In the U.S., we officially re-launched PEACE+™ in the direct-to-consumer channel, which rounds out our different pricing tiers for the U.S. hemp-derived CBD market. Having brands across price points and usage occasions is critical to meeting consumer needs in the CBD category,” said Kurt Schmidt, President and CEO, Cronos Group.
CRON Stock Market Performance And Update
In the last 8 weeks of trading CRON stock has faced a good amount of volatility in the market. The initial start to June was looking good even as CRON stock was fluctuating a bit it still held a decent market position. Essentially the whole month of June was a bit up and down but overall gains were made.
Now towards the end of June is when CRON stock started to fall. At the start of July CRON stock was not able to keep its upward momentum going. For pretty much the whole month of July CRON stock was trading down. Even with a small spike in trading moving into August CRON stock is still working to move back up in the market this month.