2 Marijuana Stocks That Investors Are Keeping An Eye On
Marijuana stocks over the last few days have displayed a bit more volatility. This has led the sector to face a pullback in trading. Yet even with a slight dip in trading overall more momentum is entering the market for marijuana stocks. As for those who have watched the market close you know the last 3 and a half months have been a rough period. This is because the entire sector essentially began to drop significantly in trading.
Since that time many cannabis stocks have started to show a bit more action. However even as the sector climbs it’s still not at a level that can be titled a full recovery. Many investors are hoping that at some point marijuana stocks will reach similar trading levels as back in early February. In the first 2 weeks of February, many marijuana stocks saw a big jump in trading some even reaching new all-time highs. This is where most investors want to see cannabis stocks eventually get back to.
So with this pullback in the sector, it gives more time for others to find top cannabis stocks to buy before the sector climbs even more. However with how cannabis stocks have been showing more activity in the market is has left some investors less skeptical about investing. Before this many investors during the downtrend grew even more cautious and uncertain about marijuana stocks.
This is partly due to when investors bought the initial dip in February and the sector continued to fall. Now however seems to be a turning point for marijuana stocks and the cannabis industry overall. With much hope for the future, it’s only a matter of time before higher trading levels are reached in 2021. Here are 2 cannabis stocks to watch below for potential gains this month.
Marijuana Stocks To Watch This Month
Columbia Care Inc.
Columbia Care Inc. is one of the largest and most experienced cultivators, manufacturers, and providers of cannabis products in the United States. Over the last month of trading, CCHWF stock has had trouble picking up more momentum. Back at the end of April CCHWF stock saw a pick up in trading. From April 15th to 30th the company was able to reach gains of 13 percent.
Yet shortly after this time, CCHWF stock has had trouble sustaining this upward trading. Yet as trading in June continues shareholders are keeping watch for any changes that may occur. In one of the companies most recent news releases, Columbia Care announced they have signed a definitive agreement to acquire Medicine Man. Which is said to be a rapidly growing vertically integrated operator in the Denver metro area.
This purchase of Medicine Man further solidifies Columbia Care’s position as the most scaled retailer, cultivator, and manufacturer in Colorado. A state that so happens to be the world’s second-largest cannabis market. This transaction is set to be completed sometime in the fourth quarter of 2021.
Words From The Company
“We have great admiration for what Medicine Man’s leaders, Sally Vander Veer, and Andy Williams, have built over the past 12 years through their tireless leadership, local and state-level advocacy, and exceptional business acumen and vision,” said Nicholas Vita, CEO of Columbia Care. “Medicine Man will further cement our position as the leading vertically integrated operator in Colorado, in tandem with our ongoing integration of The Green Solution, and will have a positive impact on our financial performance for years to come. We are also confident that the strong alignment of values between our two companies will help Columbia Care continue its growth in Colorado in a sustainable and responsible way. We are thrilled to bring one of Colorado’s longest-running and most highly respected cannabis companies into the Columbia Care family.”
Lowell Farms Inc.
Lowell Farms Inc. has been one of the more volatile cannabis stocks to watch since the downtrend started. Now unlike other cannabis stocks that initially started to drop during February LOWLF stock continued to rise. If we look back in the first 10 days of February LOWLF stock reached gains of 45 percent.
This run was a solid time for shareholders as they were able to see a nice return on their investment. Moving forward from the 10th of February to the end of the month the company furthered its climb with a 17 percent increase in trading. Now, this run lasted up until March 1st. That’s when the company had a bit of a volatile drop in trading.
Right after the start of March LOWLF stock was averaging down in the market but was still able to see small upticks on the down. Right now the company is still down but is working to see any type of upward push they can create. For now, it is a waiting game to see what will come as there is much time left in 2021 to see a turnaround for the company.
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