2 Marijuana Stocks That Are Slowly Starting To Recover In The Market
Currently in June marijuana stocks are still building more momentum. Which has been much needed after the last 12 weeks of trading. However, even as parts of the sector start to recover there is still time to find good marijuana stocks to buy. In the last 3 months starting from the second week of February cannabis stock drastically dropped in price.
As mentioned above the sector fell so much that even at it rises some cannabis stocks to watch still show good entry points. Analysts feel at some point in the near future marijuana stocks will see consistent trading at higher market levels. So until then, many investors are working on lowering their guard when searching for the best marijuana stocks to buy.
The reason many investors are throwing caution to the wind with cannabis stocks is due to the recent drop in the sector. Because of this drop investors are a bit nervous when investing in marijuana stocks. Yet since the second half of May, the sector started to build back some of its lost momentum. This recent increase in trading has brought back some renewed faith in marijuana stock investing.
Also, another momentum driver has been the potential passing of federal cannabis reform. In addition to this many cannabis companies have released their current earning report. With the release of the earnings positive sentiment has resonated well for the sector leading to better trading for some marijuana stocks to watch.
Right now it’s a waiting game to see how trading in June will pan out. Wich outside of small windows of volatility has looked good so far this month. With much time left in June to see even bigger recovery patience is the name of the game for investors and shareholders.
Marijuana Stocks To Watch This Month
Jushi Holdings Inc.
Jushi Holdings Inc. since the end of May has been one of the few marijuana stocks to watch that has started to rise in the market. Since May 28th JUSHF stock has started its road to recovery. From this point to currently in June JUSHF stock has jumped up by 6 percent. Although this increase may not be a major jump to some it’s still a sign that the company can reach better market levels.
As trading in June continues shareholders are waiting for a bigger rise before taking profits. In recent news, the company has announced subsidiary, Franklin Bioscience – NE LLC, will open the Company’s 13th BEYOND / HELLO™ medical marijuana dispensary. This new location will open up in Pennsylvania. This new dispensary adds more value to the company’s current portfolio.
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Words From The Company
“The first BEYOND / HELLO™ dispensary was opened in Pennsylvania, so it’s only fitting that we reach our 20th retail store milestone with the opening of our 13th medical marijuana dispensary in the Keystone State,” said Jim Cacioppo, Chief Executive Officer, Chairman and Founder of Jushi. “With the opening of our newest retail location, we have not only broadened access for more Pennsylvania patients, but we have also expanded the reach of our newly introduced suite of highly innovative branded products, including The BankTM, The LabTM, Nira+TM, TasteologyTM and SecheTM. In the coming months, we look forward to deepening and enhancing our business in key Pennsylvania markets with the continued expansion of our store base.”
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Planet 13 Holdings Inc.
Planet 13 Holdings Inc. the cannabis company the owns and operates what is known as the cannabis superstore. Over the last few weeks of trading PLNHF stock is still working on building more trading momentum. Since the 13th of May, PLNHF stock has done well leveraging its current momentum to better trading. Even with a current dip in trading PLNHF stock has climbed up 13 percent from May 13th.
With the company continues its progress in the industry PLNHF stock could climb higher this month. In the company’s most recent news Planet 13 has announced record sales in the month of May. The company made a total of $11.2 million with gross margins above 50%. News like is part of the reason the company has seen an increase in trading momentum in recent trading.
Words From The CEO Of Planet 13
“Tourism and business are looking up in Nevada and our operations are mirroring this trend by experiencing consistent, month-on-month growth. We are thrilled to share that the momentum gathered over the past few months is continuing, with yet another month of record sales in May. Planet 13 has built a successful retail cannabis brand that resonates with Americans. We remain confident about the continuation of this upward trend as Las Vegas reopens to its full potential as well as the upcoming opening of our Orange County SuperStore in July,” said Larry Scheffler, Co-CEO of Planet 13.