Can These Pot Stocks Overcome Market Challenges in the Near Future?
September has been a topsy turvy month for marijuana stocks. Although we are only in the second week of the month, a lot has happened. In the U.S., new banking laws for cannabis companies could go into effect in the near future. This would greatly affect marijuana stocks like Green Thumb Industries Inc. (OTC:GTBIF) and Trulieve Cannabis Corp. (OTC:TCNNF), as well as other retailers of cannabis.
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In the short term, COVID has meant that we don’t know where the cannabis industry is headed. In the long term however, companies like Innovative Industrial Properties Inc. (NYSE:IIPR), are showing that there is a great deal of potential in the future. Because of this, investors should always be thinking about the long term. While some investors utilize short term strategies, studies have shown that there will be a great deal of growth in the future of the cannabis industry. With that in mind, investors should always be staying up to date on the happenings of the industry at large. All things considered, here are two marijuana stocks that may be overdue for bullish sentiment.
A Canadian Marijuana Grower Pot Stock
OrganiGram Holdings (NASDAQ:OGI) is one of the most well known cannabis growers in the industry. Although it produces both medicinal and recreational marijuana, OrganiGram is known mostly for its role in the recreational cannabis industry. In the past year, OGI stock has reported a net revenue drop of around 25%. This sentiment may seem poor, but the majority of Canadian pot stocks have felt similar struggles. In the U.S., Covid has led to increased cannabis sales and demand. In Canada, a similar demand increase has not yet been met with increased supply.
This is reflected in the latest OGI financial report. In the past few months, OGI stock has struggled as the company has had to layoff more than 40% of its staff. This is common in a Covid-stricken world, but it is something that not many investors want to contend with. Although things may seem slightly dreary for OGI stock, investors believe that the long term is where most of the potential is. As one of the largest cannabis growers in the industry, OGI stock could see some momentum in the next few years if all things go according to plan.
A Small Time MSO Pot Stock
Jushi Holdings Inc. (OTC:JUSHF) is an MSO pot stock that you may not have heard of. Based in Florida, JUSHF stock has only garnered attention in the past few months. With a market cap of roughly $230 million, JUSHF is by no means a major marijuana stock to watch. But, it does have a great deal to offer investors across the board. The company has stated that it wants to focus on several key markets.
This includes states like Illinois and Pennsylvania. After acquiring an 80% share of Agape Total Health Care a few months ago, Jushi gained access to 15 retail locations in the state of Pennsylvania. While Pennsylvania may not seem like too exciting of a cannabis industry, it is just getting started. We have time and time again seen small statewide cannabis markets become quite large. Because Jushi is under the radar, it may be time for investors to give JUSHF stock a first or second look. With this in mind, it remains an interesting marijuana stock to watch.
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