3 Top Marijuana Stocks To Watch As The Sector Tries To Recover
When looking to invest in marijuana stocks with the current atmosphere of the market some may say not to do it. Yet others may tell you the exact opposite. The reason some may tell you to invest in others sectors is how cannabis stocks have been performing. Since mid-February, many marijuana stocks have seen a major drop in trading. To which the bulk of the sector has not been able to rise and perform at the levels it once did.
Because of this loss of momentum, some feel other niches may be a better way to invest. Yet as mentioned there is a flip side to that belief. Others feel it’s just a matter of time before marijuana stocks are showing more upward trading. But this has not happened yet which as of now leaves the sector trading at a lower average. The plus side to this drop is being able to buy top marijuana stocks at low prices.
Now another factor as to why some investors are holding strong or buying more shares is the progress of the industry. Even though it seems as federal reform is the only thing that will significantly move the needle. The continued growth and success outside of the market are keeping hopes alive. Meaning many cannabis companies have been showing to have great success outside of the market.
Cannabis Industry And Marijuana Stock Update
So even when a particular cannabis stock is down in recent trading it hasn’t been due to a lack of company performance. That’s what makes this pullback in trading so unique most of these companies outside of the market are doing well. It’s just the progress outside the market has not resonated inside the market like it used to. In 2021 there have many hurdles to jump over but all in all, things are looking good for the future of the cannabis industry.
Marijuana Stocks To Watch Right Now In 2021
- Green Thumb Industries Inc. (OTC:GTBIF)
- Cresco Labs Inc. (OTC:CRLBF)
- Curaleaf Holdings, Inc. (OTC:CURLF)
Green Thumb Industries Inc.
Green Thumb Industries Inc. manufactures, distributes, and sells various cannabis products for medical and adult-use in the United States. Back on August 11th, the company released its Q2 2021 earnings. During this time On April 30, 2021, Green Thumb raised $216.7 million in senior secured debt at 7%.
As well the company also expanded into the Virginia cannabis market upon closing the acquisition of Dharma Pharmaceuticals, LLC. A company that holds one of 5 vertical licenses in Virginia. More recently the Green Thumb opened Rise Warminster, its 62nd store nationwide.
GTBIF Stock Performance And Update
In the last 4 weeks of trading GTBIF stock has been a bit up and down. In the first 10 days of August GTBIF stock began to see a solid rise in trading. From the start of August to the 10th GTBIF stock had an 8 percent increase in trading. Yet shortly after the company was not able to sustain its upward momentum. This loss in momentum led to a drop in trading the rest of the month. Nonetheless, with September around the corner, it’s possible to see this marijuana stock to watch recover at that time.
Cresco Labs Inc.
Cresco Labs Inc. together with its subsidiaries cultivates, manufactures, and sells retail and medical cannabis products in the United States. It provides cannabis in flowers, vape pens, live resins, disposable pens, and extracts under the Cresco brand. In the last 2 weeks, Cresco Labs has released some important news. For one back on August 13th the company as well released its Q2 2021 financial results.
Some highlights from this are Cresco hit a revenue of $210 million. This made for an increase of 17.7% quarter over quarter and 122.8% year over year. In addition to a revenue increasing, Cresco also had an Adjusted EBITDA2 of $45.5 million, an increase of 30.1% quarter-over-quarter. In more recent news the company has opened a new dispensary in Fort Lauderdale FL which is the first location under the Sunnyside Brand.
CRLBF Stock Performance And Update
At the start of August, CRLBF stock was moving up in the market and building more steam along the way. In the first 9 days of August was the time in which this momentum was leading to better trading. Yet after the 9th of August CRLBF stock was not able to able to keep its rise going. But with September almost here trading may pick up for this marijuana stock to watch.
Curaleaf Holdings, Inc.
Curaleaf Holdings, Inc. operates as an integrated medical and wellness cannabis operator in the United States. It operates in two segments, Cannabis Operations, and Non-Cannabis Operations. On the 9th of August Curaleaf released news on its Q2 financial earnings. At this time the company produced record earnings.
The company Revenue reached $312 million, increasing 20% sequentially and 166% YoY. As well Curaleaf Successfully closed the acquisition of EMMAC, Europe’s largest vertically integrated independent cannabis company. Which has formed the foundation of our Curaleaf International business. Also, the company’s U.S. operations reported revenue of $307 million, 18% growth QoQ, within our guidance range.
CURLF Stock Performance And Market Update
In the last 4 weeks of trading CURLF stock has been fluctuating in price. In the first few days of trading in August, CURLF stock began with a drop in trading. However, after the 4th trading began to rise for CURLF stock. Trading from the 4th to the 10th made for a 6 percent jump in the market for the company.
Yet after the 10th CURLF stock began to fall and has since been able to recover. However, the company is one of the more favored cannabis stocks to watch among investors. As well with a new month of trading ahead, this marijuana stock may rise again in the near future.
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