Are These Marijuana Stocks On Your Watchlist? Here Are Some Things To Know
As trading in August continues marijuana stocks are still facing more volatility. Yet in recent trading things are starting to look better for the sector as of August 5th. Yet things can always change especially in the unpredictable market that cannabis stocks trade-in. Sine the back half of April, many marijuana stocks have been trying to rebuild their lost momentum.
To which during this time the sector as a whole kept rising and pulling back. Those who were able to leverage this fluctuation in the sector walked away with decent gains. As of now, the entire sector is trading at a lower average even with some upward trading. Hopefully, with more marijuana companies getting ready to release earnings, it will add some positive sentiment to the sector.
Currently, the entire cannabis industry is still moving and growing at a fast pace. More marijuana companies are joining forces and expanding operations. What this is doing is creating super companies that may take a bigger hold over the cannabis industry. Next, we have the fight for federal cannabis reform in addition to state-level reform. With more states going legal it will add more overall value to the industry.
This value comes in the form of new markers being created that will add to the revenue being made by legal cannabis in the U.S. Following this, we have the push for federally legalizing marijuana. With how big the industry has gotten many feel it’s only a matter of time before some type of federal reform bill is passed. In just the last year alone over $17 billion was made from legal cannabis sales. As the progress continued for the industry it has people looking to become invested in the space. Below are 2 possible opportunities that may be a good investment.
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TPCO Holding Corp.
TPCO Holding Corp. cultivates, extracts, manufactures, distributes, retails, and delivers cannabis in California. The company gained more notoriety when Jay Z become part of the company. Looking at the past trading of GRAMF stock and things have not been the best for this marijuana stock. Since the company hit the market back in 2020 things started out flat. Pushing into the start of 2021 and trading began to pick up drastically.
However, this pick-up in trading was not a long run and midway through January 2021 GRAMF stock started to drop. Now in February trading was starting to rise but once again the company could not sustain its climb. From the end of February to the start of March GRAMF stock has been trading down. Now on this downward path, some subtle spikes in trading have happened but it’s not at a level to wow certain shareholders. Currently GRAMF stock is still on its downward trading pattern.
But since the start of August, a small boost in momentum has helped cause some upticks in the company’s current market performance. As trading continues hopefully this month will be the time when GRAMF stock can recover to a better market position. In recent news, the company announced it has strengthened its California retail footprint. TPCO Holding Corp. purchased an operating retail dispensary located in Ceres, California from the owners of Jayden’s Journey.
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Words From The Company
“This is a fantastic opportunity to expand our reach and increase availability of our exceptional product selection and retail experiences to a broader potential audience of consumers and patients in California’s Central Valley,” said Steve Allan, Chief Executive Officer of The Parent Company. “This new location allows us to quickly access this important region and to drive future growth through the introduction of our robust delivery network. We look forward to building off the strong foundation that the team at Jayden’s Journey has created while continuing to honor their commitments to the community.”
Goodness Growth Holdings, Inc.
Goodness Growth Holdings, Inc. operates as a physician-led cannabis company in the United States. It cultivates cannabis; manufactures pharmaceutical-grade cannabis extracts. Goodness Growth also sells its products through its network of Green Goods and other retail locations, and third-party dispensaries. The company grows and/or processes cannabis in eight markets and operates 16 dispensaries.
The company was formerly known as Vireo Health International Inc. and changed its name to Goodness Growth Holdings, Inc. in June 2021. Over the last 3 weeks, GDNSF stock has done a lot of up and down trading. From the start of May, the company was showing signs of upward trading all the way to the 10th. Yet after this time the company started to see a loss in momentum and began to descend in the market.
Now from May 13th to the 26th trading started to look much better for the company. Yet moving into June trading was slowly dropping once again. The 9th of June was the GDNSF stock’s highest market position for that time. But unfortunately, the rest of June and the entire month of July except for some small upticks was a downward path for this cannabis stock. However, with a new month of trading may come the possibility of some upward momentum for this marijuana stock to watch
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