2 Marijuana Stocks For Your Mid Day Watchlist
Since the back half of May marijuana stocks have started to look better in the market. Granted there is still a ways to go before a full recovery takes place. However, things have started to look better for the cannabis sector. So far in June marijuana stocks are seeing continued momentum. This is a good sign that a bigger recovery may soon lead to a nice jump in trading. Now there is no way to know for sure due to the unpredictability of how marijuana stocks tend to trade.
Yet with the current market performance, there’s been more upward action than in the last 3 months. As cannabis stocks come out of a long downtrend in trading there have been moments of volatility as the sector recovers. So with this even as cannabis stocks begin to rise further good buying opportunities still exist. Meaning most marijuana stocks even as they climb still show good entry points.
So in turn what this means is you can still find top marijuana stocks to buy and potentially make a solid return. Still with things started to look better some investors are still showing signs of skepticism with investing further into marijuana stocks. This is largely due because of how low stocks dropped during the recent drop in the sector. Although some have found a renewed faith in the cannabis sector with every good day of trading.
Especially over the last month. Currently, many shareholders are remaining patient to take profits. The reason for this is the sector needs to recover further for some shareholders to see a return on their investment. A catalyst that may help the sector rise, even more, is the potential passing of federal cannabis reform. This would not only help marijuana stocks but the entire U.S. cannabis industry.
Marijuana Stocks To Watch This Month
Neptune Wellness Solutions Inc.
Neptune Wellness Solutions Inc. is one of many marijuana stocks working to reach a higher market level. Since mid-May NEPT stock has slowly started to recover in the market. This is certainly a good sign for shareholders and future investors. Yet if you bought shares of NEPT stock on the 13th of May you would have been able to see a 28 percent return.
Now for those who have purchased shares of the company before mid-May will have to wait to see a bigger rise from the company. In the last few weeks, Neptune Wellness has released some important updates. On June 3rd the company announced Steve West as Vice President, of investor relations. This was to build a leading Investor Relations outreach program across both retail and institutional investors.
Next, the company went on to release news about its exclusive licensing agreement between Sprout Foods and CoComelon®. The licensing agreement was brokered by Moonbug’s North American Licensing Agency, UTA, and includes all of North America. The product is expected in the summer of 2021. The terms of the deal were not disclosed.
Combining this with Neptune’s health and wellness platform will greatly elevate Sprout’s efforts to make innovative, organic products accessible for today’s healthy families. In more recent news Neptune has announced its Mood Ring cannabis product launch which includes cannabis flower in British Columbia. With Neptune Wellness working on its future, it’s possible to see even more progress for this marijuana stock to watch.
Harborside Inc. over the last month has been a marijuana stock to watch for better trading. If you look back at the start of 2021 you can see that HBORF is a bit more volatile than other marijuana stocks in the market. Yet even with a current dip in trading HBORF stock still holds a promising market level.
What makes the current market level of the company so valuable is when a bigger boost occurs HBORF stock will reach rise to higher levels easier. If you look at the last month of trading you can see that HBORF stock has been building back some of its lost momentum. From April 20th to June 10th HBORF stock has climbed 7 percent since that time.
The more HBORF stock can build momentum and continue to rise the more investors will find value in this marijuana stock. Because of the last 12 weeks of trading, it’s been tough for investors and shareholders. Mainly due to the uncertainty of what may come of the sector and how volatile trading can be. Nevertheless, as things start to rise so do the hopes of shareholders. As June continues to look better for most of the sector investors are keeping an eye on this marijuana stock to watch.
In the company’s most recent update Harborside has announced a resolution to a claim. The company has executed a settlement and release agreement. Which was done in respect of the previously disclosed litigation between the Company and a former employee. With things progressing more for Harborside June could be a better month for the company overall.
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