2 Marijuana Stocks To Watch Heading Into August
Many marijuana stocks are starting to show more volatility in the market. With this volatile trading, some cannabis stocks are having trouble sustaining better trading levels. Now with some cannabis companies currently down in the market is gives more chances to buy top marijuana stocks at lower prices. Unlike the market behavior during this recent downtrend, investors are showing renewed faith in the cannabis sector. For instance from mid-February to the end of April even when the sector dipped some companies fell even further.
This created a double edge sword. Meaning even with some investors lowering the average cost of their position some have to wait to see a bigger rise in trading to see a profit or break even. Now in more recent trading, there have been some factors that have contributed towards some of this upward momentum. For starters, we have some cannabis companies getting ready to release new earning reports.
If these earnings show more positive than negative results it has the potential to help increase the trading momentum in the cannabis sector. Next, we have the fight for more comprehensive cannabis legislation in the manner of federal legalization of marijuana. This would undoubtedly be one of the final obstacles for the cannabis industry. This would open many doors to new ventures that were once forbidden due to federal restrictions.
In addition to this federal reform, there is also a big push for cannabis banking reform. In an all-cash industry having access to financial institutions is crucial for the progress of the industry. Lastly would be more states that are soon to vote on legalizing cannabis. With all the above happening it could not only further the expansion of the industry. As well as potentially increasing the market level of many cannabis stocks in the sector.
Top Marijuana Stocks In The Market Right Now
Fire & Flower Holdings Corp.
Fire & Flower Holdings Corp. through its subsidiary, Fire & Flower Inc., operates as an independent retailer that offers cannabis products and accessories. This is done through its retail locations located in the provinces of Alberta, Saskatchewan, Manitoba, Ontario, and Yukon. It also engages in the wholesale of regulated cannabis products and accessories in Saskatchewan.
As well as operates Hifyre’s digital retail and analytics of regulated cannabis e-commerce platform. In the last 8 weeks of trading FFLWF stock has been another volatile publicly traded marijuana to watch. Back in mid-May is when FFLWF stock started to show more upward momentum in the market. Trading from the 13th of May to the end of the month FFLWF stock saw a nice uptick in trading. This run generated gains of 8 percent. This upward push was a good run for the company and shareholders.
Moving into the first of trading for June from the 28th of May to the 9th of June FFLWF stock was able to keep its climb going. Yet after this time, the company started to fall in the market. Now on this downward trading pattern, some spikes did happen but overall the company was moving down in the market. With trading in July FFLWF stock continued to fall even with a slight rise right before the month started. Currently in July FFLWF is still working to sustain better momentum heading into August.
Jushi Holdings Inc.
Jushi Holdings Inc. is a vertically integrated cannabis company that engages in cultivation. As well as processing, retail, and distribution of medical and adult-use products. It focuses on building a portfolio of cannabis assets in various jurisdictions in Pennsylvania, Virginia. In addition to Ohio, Illinois, California, Nevada, and Massachusetts. The company operates retail locations under the BEYOND/HELLO retail brand, which includes 11 medical dispensaries in Ardmore, Bethlehem, Bristol.
Also Irwin, Johnstown, Philadelphia, Reading, Scranton, and West Chester, Pennsylvania. Since May the company has had been looking more volatile since its dropping from trading in April. In June, JUSHF stock started to recover but began to drop again in July. However currently in July JUSHF stock has started to show more market momentum as we prepare for a new month of trading.
In recent news, the company has announced its transaction to domestic issuer status in the United States. This will be put into effect on the 1st of January 2022. Since over 50% of the company’s issued and outstanding subordinate voting shares were owned by shareholders this comes with results. Jushi no longer meets the definition of a “foreign private issuer” under United States securities laws.
Also, as a result, the Company will be deemed a U.S. domestic issuer under United States securities laws. As well the company will be subject to SEC reporting requirements applicable to U.S. domestic companies no later than January 1, 2022. These U.S. reporting requirements will need Jushi’s financial statements and financial data to be presented under U.S. GAAP. Jushi has established a task force of internal and external resources to manage the transition.
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