Will These Top Marijuana Stocks See An Increase In Trading In October?
Right now many investors are taking advantage of how low marijuana stocks are trading. Now even with how low the sector has dropped some investors are trying to recoup some of their losses. Meaning before the downtrend began back in early February investors bought marijuana stocks at higher prices. Not because the market was up but at the time that was the low point from the pattern of trading at the time. So when the downtrend took place even with buying the dips it didn’t work out well for some.
This put some in the place where they would have to sell shares to cut their losses. Or they would have to hold their position and try to bring their average cost down by buying the dips. This strategy can work and has been helpful to some but others not so much. With how regulated the cannabis industry is getting day by day many feel this is the new trading average of the sector. Others do feel once federal cannabis reform is passed by the Senate it may be the cause of seeing a nice run. Now nothing is promised or set in stone but overall the cannabis industry is growing at a fast pace.
Meaning more states are becoming legal some even working on legislation for 2022. Currently, more than half of the United States has legalized marijuana in some form. Which is allowing for more MSO companies to come into these states and set up shop. As well the more success, each publicly traded company has the more people are likely to invest in it. The success and progress of a company are a metric being used for whether a cannabis stock is a buy or sell. Below are 2 marijuana stocks to watch this month.
Top Marijuana Stocks For This Months Watchlist
Trulieve Cannabis Corp.
Trulieve Cannabis Corp. together with its subsidiaries operates as a medical cannabis company. The company cultivates and produces products in-house and distributes its products to Trulieve branded stores across the United States. The company holds the dominant share of Florida’s medical market. Not to mention Truelieve is also looked at as a top MSO marijuana company in the industry.
As mentioned above Truelieve has stores outside of Florida in states like California, Massachusetts, Connecticut, Pennsylvania, and West Virginia. In recent news, the company announced the reopening of four dispensaries formerly branded as Harvest House of Cannabis. These reopenings will be in Jacksonville, Gainesville, Kissimmee, and West Palm Beach, Florida.
The locations join the Company’s 94 medical marijuana dispensaries statewide. The reopenings follow the Company’s October 1, 2021 announcement of its closing the acquisition of Harvest Health and Recreation Inc. Following that acquisition, all Harvest locations in Florida were closed for rebranding to Trulieve. The Company will continue to reopen locations in Florida throughout October.
Between the 13th of October and the 18th is when all 4 locations will be open and ready to do business for licensed medical patients. The progress that Truleive is making is unmatched by very few in the industry. This is why many feel as mentioned above that Trulieve is a dominant MSO cannabis company. Not to mention a popular marijuana stock to watch.
TerrAscend Corp. cultivates, processes, and sells medical and adult-use cannabis in Canada and the United States. It produces and distributes hemp-derived wellness products to retail locations; and manufactures cannabis-infused artisan edibles. The company also operates three retail dispensaries under the Apothecarium brand name in California and Pennsylvania.
Back on September 17th, the company announced that it has received Michigans ore qualification approval for the acquisition of Gage cannabis. The pre-qualification approval represents TerrAscend’s successful completion. Which is for one of the most comprehensive portions of the State’s licensing and regulatory approval process. This pre-qualification approval is a key closing condition for TerrAscend’s previously announced acquisition of Gage Growth Corp.
Words From The Company
“Our prequalification is an important step as we progress towards closing the acquisition of Gage in a timely manner,” said Jason Wild, Executive Chairman of TerrAscend. “Upon closing, our combined company will bring together strong cultivation, processing capabilities, brands and retail networks to execute on the significant opportunities ahead.”
TRSSF Stock Performance And Market Update
Over the last month and a half of trading TRSSF stock has trying to push back up in the market. At the end of August moving into September TRSSF stock was faced with a drop in trading. Which continued for the first 2 weeks of September. Right after the 15th of the month is when some upward trading began for the company. Now it wasn’t the biggest increase in trading. But it was big enough for some to take some profits. This increase in trading lasted up until the end of the month right before the start of October. Moving into the following month trading in October for TRSSF stock has resulted in another drop. Currently, this marijuana stock is down. However TRSSF stock is working to build back some of its lost momentum.
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