Top Marijuana Stocks For Your June 2021 Watchlist
If you have been watching marijuana stocks over the last several months then you see how things are starting to turn around. Now some of these factors can stem from several variables. For one many marijuana companies have been releasing their most current earning reports. Which for the most part has fared pretty well. Due to the majority of companies announcing good earnings, it has resonated well amongst marijuana stocks.
Next, you have many top cannabis companies expanding and growing through mergers and acquisitions. This has helped the current and future growth and innovation of the cannabis industry. So when investors catch wind of positive news that impacts the industry in a good way it can also lead to a rise in trading. As well over the last few years, the cannabis industry overall has shown a huge amount of growth.
For instance, in 2020 alone the U.S. cannabis industry generated over $17.5 billion. This was a record amount of revenue for just one year of legal cannabis sales both recreational and medical. Some have projected to see an even higher number of cannabis sales at the end of 2021. As of now, some states are on course to see multi-billion dollar sales this year. One of the bigger contributors to seeing a rise in momentum is the promise of better cannabis reform.
Especially federal reform as well as state-level too. Analysts believe on the day marijuana is federally legal it may lead to a breakout for many marijuana stocks. Yet nothing is set in stone but many investors and advocates are left waiting on an upcoming reform vote that is soon to take place. So for those who are interested in investing in cannabis, there is still time. Just make sure you do your due diligence before investing.
Marijuana Stocks To Watch This Month
MariMed Inc. is one of the handfuls of marijuana stocks that even in a downtrend held a solid market position. This is based on how much MRMD stock has jumped since the end of December 2020. From December 11th of 2020 to now in June MRMD stock has increased its position by 223 percent. This along with the company’s ability to sustain its trading shows why MariMed is considered a top marijuana stock.
Now over the last month of trading MRMD stock has continued to rise. Starting from May 13th to June 10th the company is up in the market by 27 percent. A company that has had performance such as MariMed is giving investors a renewed outlook on marijuana stock investing. Just last month the company also released its Q1 2021 earnings.
During this time the company significantly strengthened its balance sheet. In addition to improving liquidity to support future growth. Also, the company reached its highest quarter of core cannabis revenue and profitability, tracking 2021 full-year guidance. In more recent news MariMed released news about appointing Howard Schacter as Chief Communications Officer.
Words From The Company
“I am thrilled to welcome Howard to the MariMed team and look forward to him significantly elevating visibility of the Company and our brand portfolio,” said Bob Fireman. “Howard’s unique background combines traditional corporate communications and brand marketing PR in cannabis, CPG, retail and other sectors. We are on a growth trajectory, with a focused strategic plan that’s working. Howard brings exactly the right skill set to tell our compelling MariMed story to investors and the media, to generate even more attention for our award-winning brands among customers and patients, and to align our employees around our mission and values
GrowGeneration Corp. is one of many marijuana companies that play an intricate part in the cannabis industry. The company owns and operates a chain of hydropic grow stores in the U.S. The company mainly deals in cannabis cultivation which is pretty much the most important part of the cannabis industry.
With the proper setup to grow the product, there is no marijuana at the end. Over the last month of trading GRWG stock has started to slowly look better. From the end of May to currently in June GRWG stock has been able to see a pick up in momentum. To be exact May 24th to currently in June GRWG stock is up by 13 percent. Now as of late GRWG stock has started to dip once again.
Still even with a slight drop in trading investors still have high hopes for this marijuana stock to watch. In the company’s most recent news GrowGen has announced the launch of Power Si in Canada. Power Si is a proprietary brand operated and owned by GrowGen. Which is the one who has signed an exclusive distribution agreement with GreenPlanet Wholesale.
Word From GreenPlanet Wholesale
“We are thrilled that, at long last, Canadians will have the opportunity to experience firsthand what Power Si brings into their gardens. This is a groundbreaking product with proven success in the garden and a huge following in countries around the world. At GreenPlanet Wholesale, we are committed to bringing our customers the best products the industry has to offer, and Power Si is another example of this. This product has been long-awaited in the Canadian Marketplace and we could not be prouder to partner with the great team at Power Si. I can’t wait to hear from our growing community as they begin to use this exciting new product.” stated Mark Walman, Chief Operating Officer for GreenPlanet Wholesale.