2 Marijuana Stocks To Watch As They Continue To Climb This Month
With marijuana stocks starting the 2nd week of trading in June things are slowly picking up from last Friday’s close. Many of the top marijuana stocks to watch have been a bit more volatile since back in May. Last month was the initial start to seeing some kind of life enter the sector. This is because over the last 3 months the cannabis sector was going through a downtrend in trading.
So when May started it was a bit slow at first but things did eventually start to pick up. Yet even though trading towards the back half of May began to increase cannabis stocks still need to climb higher to see a real recovery. Right now most marijuana stocks are still showing good entry points before trading increases further. Some investors will look to take advantage of this buying opportunity.
However, some may not this is due to the uncertainty and skepticism of how the sector has recently performed. Due to the recent downtrend investors have grown more cautious with investing in cannabis stocks. Now anytime someone invests in the market there is always risk and uncertainty. Yet with cannabis stocks, it’s a bit more unpredictable than other sectors. This can leave many factors that can hurt the consistency of how marijuana stocks perform.
So it’s best to build an understanding of these things when investing in cannabis stocks. This is where learning about a cannabis company from recent news to current financials plays an intricate part in investing in the company. Currently, the growth of the sector is also due to the progress of the cannabis industry. Much of this is surrounded by the possibility of cannabis being federally legalized. If federal cannabis reform can be passed it could add more trading momentum for marijuana stocks.
Top Marijuana Stocks To Watch Right Now
Fire & Flower Holdings Corp.
Fire & Flower Holdings Corp. has been one of the few marijuana stocks to watch over the last few weeks. This is because since mid-May FFLWF stock has been moving back up in the market. Like many other cannabis stocks, the second week of May was when the sector started to build more momentum. From May 12 to the 18th the company had a nice rise in the market.
During this time FFLWF stock jumped up by 8 percent. This was a good sign as many marijuana stocks have not increased as much as FFLWF stock has in recent trading. Now looking at the 18th to currently in June and the company is up 5 percent. Overall the company is showing better consistency in the market which has created a renewed faith towards the future of investing in FFLWF stock. In recent news, the company has made some important announcements. Back on May 21, Fire & Flower Holdings announced Matthew Hollingshead, President of Hifyre, to Chief Innovation Officer.
“Matthew has championed innovation at Fire & Flower and in the cannabis tech industry for years. His decade of legal medical and adult-use cannabis experience combined with his creative vision for the future of retail technology has been instrumental in positioning Fire & Flower at the forefront of this highly competitive industry,” said Trevor Fencott, President and CEO of Fire & Flower.
Final Thoughts On FFWLF Stock
Next, the company has recently announced the upcoming release of its ts financial and operational results for the first quarter of 2021. The release of this report is set to happen before financial markets open on June 15, 2021. If the company can show positive results it may add more trading momentum for FFLWF stock. So as investors and shareholders wait for Q1 2021 results the company feels this current upward push will continue.
[Read Moore] Are You Up To Date On The Cannabis Industry In 2021?
Red White & Bloom Brands Inc.
Red White & Bloom Brands Inc. is a multi-state cannabis operator and house of premium brands. In the company’s most recent market performance over the last month of trading, RWBYF stock has started to climb. Now RWBYF stock is rising but it still has a way to go before seeing levels it once did like back in April. RWBYF stock since mid-May has started its road to recovery. From May 20th to the 27th RWBYF stock increased by 26 percent.
Which after a 12-week drop in trading is a solid sign of growth potential. If you look at the 20th of May to now in June RWBYF stock is up by 22 percent. Shareholders are keeping their faith in the company as Red White & Bloom Brands has shown more consistent upward trading over the last 4 weeks. In recent news, the company has announced its operating highlights for Q4 2020 & Q1 2021.
During this time the company achieved adjusted sales1for the first quarter of $32.2 million. This was a sequential increase of 2.4% from the prior quarter’s adjusted sales of $31.4 million in Q4 2020. As well Red White & Bloom also achieved a positive adjusted EBITDA of $460,000 for Q1 2021. So far things are looking better for the company as trading continues to rise for this marijuana stock to watch in June 2021.
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