Are These Top Marijuana Stocks On Your Watchlist This Month?
As marijuana stocks fight to find stable momentum some companies are showing good entry points. Over the last 8 months of trading, a good amount of momentum and upward consistency has been lost. Much of this was do various factors that determined an almost 8-month downtrend. This initial drop started during the second week of February. Much of this was due to a great amount of uncertainty once federal cannabis reform was left at a standstill during that time. With things left up to state-level legislation along with the crypto boom, people started looking at other areas of the market to invest in.
From mid-February to the end of July start of August cannabis stocks started to see a little push in upward trading. Back in August many cannabis companies began releasing financial earnings which helped so see some kind of upward movement. Around this time some shareholders were able to see some long-overdue profits. In recent trading, this upward push has been predicated on a few things. Mainly it’s been the fight to have comprehensive cannabis reform.
Currently, a larger focus is on the future legislation of the cannabis industry. Right now a big push for ending cannabis prohibition has demanded a lot of attention. With the end of cannabis prohibition, many doors will open for the global cannabis industry. But especially in the United States where a bulk of the cannabis industry lives at the moment. Along with ending cannabis prohibition a bill to enact cannabis banking. With these 2 policy changes enacted by the senate, it may be possible to see another run amping cannabis stocks. However, this is not a guarantee but many investors are watching with a close eye to see what unfolds. Below Are 2 marijuana stocks to watch in 2021.
Marijuana Stocks To Watch For Your October 2021 Watchlist
- Green Thumb Industries Inc. (OTC:GTBIF)
- Greenlane Holdings Inc. (NASDAQ:GNLN)
Green Thumb Industries Inc.
Green Thumb Industries Inc. manufactures, distributes, and sells various cannabis products for medical and adult use in the United States. It offers cannabis flower; and processed and packaged products, including concentrates, edibles, and topicals, and other cannabis products under various brands. In the last 4-6 weeks the company has made some important updates. One of the updates being the opening of a new dispensary in New Jerse. 
This makes for Green Thumbs 65th store in the United States. This venture is a strong demonstration of growth potential. With the opening of new locations around the nation, only adds more value and revenue that is being generated by the company. As well the more success a company can show outside of the market the more some people will invest.
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Words From The Company
“Bloomfield Youth Aid Foundation is honored to receive first day proceeds from the opening of Rise Bloomfield. Donations like these allow our organization to provide services to even more community members and gives us the opportunity to further build on our college scholarship fund for local Bloomfield students, as well as other initiatives like backpack giveaways and toy drives,” said George Ricci, President of Bloomfield Youth Aid Foundation.
GTBIF Stock Performance And Market Update
At the start of September, GTBIF stock faced a bit of drop in trading the first part of the month. Yet some days at the end of August GTBIF stock was showing a bit more upward potential. Pushing into the second half of September GTBIF stock began to recover a bit and started to rise. From the 14th of September to the 27th GTBIF despite dealing with volatility was able to see build up some decent momentum. Currently in October is down but has the potential to see another recovery before the end of the month.
Greenlane Holdings Inc.
Greenlane Holdings Inc. sells cannabis accessories, child-resistant packaging, and specialty vaporization products in the United States, Canada, Europe, Australia, and South America. During the first week of October, the company announced it has appointed director Donald Hunter as Chairman of the Board. However, Aaron LoCascio, the former Chairman of the Board, will remain on the Company’s Board of Directors. Mr. Hunter’s appointment reaffirms Greenlane’s commitment to strong corporate governance and independent oversight.
Words From The CEO
“Over the years, Don has earned an impeccable reputation for having a strong, active, and independent voice in the boardroom,” said Nick Kovacevich, Chief Executive Officer of Greenlane. “I had the pleasure of witnessing this firsthand at KushCo, and now at Greenlane following the merger, where he is eager to continue delivering his strategic insights and guidance. Appointing an independent Chairman with Don’s credentials is a significant step in improving the Company’s corporate governance profile.”
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GNLN Stock Performance And Market Update
In the last 4-6 weeks of trading GNLN stock has been working to build up more momentum. Prior to the start of September, the company was on a downward path in the market. When trading in September started the company started to recover a bit. But due to how volatile and unpredictable the market is most of the month was up and down for GNLN stock. Yet as of now in October GNLN has started to lose its momentum and has begun to dip. Still with more time left in October it’s still possible to see another recovery
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