The marijuana stock market in the past few weeks has been plagued by a downtrend that has hit the whole of the market and not just cannabis. Many factors have played into this such as tightening tariffs and issues surrounding Saudi Arabian human rights, but it seems as though things could be settling down in the coming weeks. Many of the most popular cannabis stocks in the industry saw their prices shoot up by 5-10% during early morning trading on Thursday, October 25th. 40 of the 48 companies listed within the Horizons Marijuana Life Sciences ETF, one of the most popular ETFs in the marijuana stock space, saw gains during the trading day, which put the ETF on track for one of its highest daily gains in a few months. The hopes are that today has helped to bring an end to the most recent bout of speculative trading, allowing companies to see their gains reflect their actual value.
GTEC Holdings (GTEC) has been one of the primary marijuana stocks that has been working to build a completely vertically integrated system for selling craft cannabis products. The company states that “The GTEC Holdings Group of companies strives for full vertical integration within the cannabis eco-system. This allows us to ensure that consumer end-products are cultivated with quality, care and consistency.” Given that there is a large amount of demand for craft cannabis due to the nature of its higher quality, GTEC has been one of only a few companies that have been able to take advantage of this niche side of the market. The company continues to state that “GTEC’s product portfolio will be designed to target distinct consumer segments within the premium craft cannabis market. Superior quality and product innovation will be key success drivers for GTEC.” With eyes on the future of the vertical cannabis system, GTEC remains one of the driving forces for the cannabis industry.
Canopy Growth Corp. (NYSE:CGC) was one of the biggest gainers today with the company showing gains at around 10% during early morning trading. The company saw one of its biggest days back a few months ago after being one of the first marijuana companies to list on a prestigious U.S. exchange such as the NYSE. This helped to not only give a large amount of credibility to the cannabis market, but also helped to create a domino effect of companies looking to get their businesses listed on these exchanges as well. Canopy Growth represents one of the largest marijuana growers in the world, and has stated that they have a massive amount of exposure to the Canadian market overall. The real hopes are that Canopy can continue to provide cannabis to Canada as well as abroad markets as legal measures continue to develop throughout the near future.
Marijuana stocks look as though they could be back in a favorable role in the coming weeks, but only if the speculative control of the market begins to settle down. Only time will tell how well these stocks can continue to perform amidst large competition and the changing laws.
Pursuant to an agreement between an affiliate of MAPH Enterprises, LLC, Midam Ventures LLC and GTEC Holdings Inc., Midam is being paid $63,333 per month from the company for a total of 12 months and has received ZERO shares of GTEC Holdings Inc. for a duration of beginning July 10, 2018 and ending July 10, 2019. We may buy or sell additional shares of (GTEC) in the open market at any time, including before, during or after the Website and Information, provide public dissemination of favorable Information.
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