2 Cannabis Stocks That Could Be Good For Your October Watchlist
As many cannabis stocks continue to fluctuate in price there is still an opportunity to be had. What this means is with how the sector has been performing with proper execution one could find top marijuana stocks to buy. Now as most investors and traders know cannabis stocks trade in a volatile and unpredictable market. Meaning one moment a company can be up and the next it can be down without warning. That is why it’s best to always keep a watchful eye on the market. As well as conducting proper due diligence to know whether a particular cannabis stock is a good buy or not.
With many new developments taking place in the industry investors are getting prepared for the possibility of a potential breakout. The reason this breakout may happen would be due to the potential passing of 2 pieces of federal cannabis reform. Right now a big focus is on federal cannabis reform. The issue is some members of congress are not all in favor of federal cannabis reform. Especially president Joe Biden who has mentioned even if federal cannabis legalization passes the Senate he may not sign the bill.
However, he still supports state-level cannabis reform. Nevertheless, growth and progress still continue for many marijuana companies. Much of this growth has come from MSO and ancillary cannabis stocks. Mainly due to MSO being able to operate in different legal markets around the USA. As well as ancillary companies that provide a service or product to workers and businesses in the cannabis industry. So with focusing on which companies are performing the best out of the market shows strong growth potential. Not to mention another good indicator if particular pot stock is a good buy or not. Here are 2 marijuana stocks to watch right now.
Marijuana Stocks For Your 2021 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. With its most dominant market being in the state of Florida. In one of two Trulieve’s most recent company update, it has announced the reopening of a dispensary in North Port, Florida. The Sarasota-area dispensary is Trulieve’s 92nd location in Florida and was formerly branded as Harvest House of Cannabis.
Next, the company also announced another reopening of a dispensary in Kissimmee Florida. This makes for the company’s 93rd Florida location. The Company will continue to reopen locations in Florida throughout the month of October. With the continued progress of the company, this is a thorough display of real growth potential. These 2 new locations will allow for the company to continue to thrive and bring in solid amounts of potential revenue. Not to mention the increase in attention and trust from more current and future investors.
TCNNF Stock Performance And Market Update
Since the start of September TCNNF stock has been fluctuating a bit in the market. From the opening week of the month, TCNNF stock was losing its market position from the end of August. Trading from September 3rd to the 14th TCNNF stock began to drop down in the market. After that time the company was able to see a window of recovery from the 14th to the 16th. Moving forward the company faced a small dip but once again was able to build back some upward momentum. The rest of September had some volatile moments but overall TCNNF stock has continued to climb. Currently in October TCNNF stock is up as of the close on 7th as shareholders keep watch to see if the company can continue to rise.
Ayr Wellness Inc.
Ayr Wellness Inc., is a vertically integrated cannabis multi-state operator, cultivates, extracts, manufactures, distributes, and retails cannabis products and branded cannabis packaged goods. The company’s cannabis and cannabis products include concentrates, edibles, and vaporizer products. It also provides administrative, consulting, and operations support services to licensed cannabis companies. In addition, Ayr Wellness Inc. operates medical retail dispensaries.
The company was formerly known as Ayr Strategies Inc. and changed its name to Ayr Wellness Inc. in February 2021. Back on October 4th the company announced it has closed on the acquisition of PA Natural Medicine, LLC. As well as providing updates on warrant acceleration.PA Natural Medicine, LLC is an operator of three licensed retail dispensaries. This acquisition has furthered Ayr’s presence in the rapidly growing medical market within the Commonwealth of Pennsylvania.
Words From The Company
“We are excited to expand our retail presence in Pennsylvania, where we’ve generated great momentum since entering the market earlier this year, in terms of the excellent reception we’ve received for both our dispensaries and our Ayr-grown premium flower. With six stores now open and two additional dispensary openings anticipated by year-end, and one of the largest cultivation and production footprints in the state, we expect Pennsylvania to be a major contributor to our growth in 2022 and beyond,” said Jonathan Sandelman, Ayr Wellness Founder, Chairman and CEO.
AYRWF Stock Performance And Market Update
Over the last 4-6 weeks AYRWF stock has seen a nice jump in trading. During the first 2 weeks of September, this marijuana stock was trading down in the market. This downward trading was a continued pattern from the 10th of August. So once the 3rd week of September came around the company started to become a bit more volatile with some up and down trading. It wasn’t until the 21st of September when AYRWF stock began to recover and as of now in October has furthered its climb in the market.