2 Canadian Marijuana Stocks For Your 2021 Watchlist
When it comes to investing in marijuana stocks it does require a great deal of research. Meaning you want to conduct thorough due diligence so you know all you can about the company. Having an understanding of what the company does and how they perform in the market is important. This info will give you a better metric on if you should be buying these marijuana stocks or not.
With all the noise and current progression of the cannabis industry, many are looking to become involved. Now with how the market has been acting you want to also build an understanding of what impacts the way a marijuana stock trades. For example, when the news was released about details of Chuck Schumer’s new federal bill the cannabis sector had no extra momentum. This was due to President Joe Biden still being opposed to federal cannabis reform.
When this happened the cannabis sector did not react well. In fact, days following the announcement mani cannabis stocks to watch fell in the market. Things have started to balance out since this recent pullback. If you are looking for marijuana stocks to buy just keep in mind what may affect the way a company trades. Not just political news it can even be poor earnings for a company that resonates amongst others.
Essentially if one cannabis company or the sector as a whole has bad news it can impact the performance of the company. As mentioned above that is why doing your homework before investing in cannabis stocks is crucial. You want to set yourself up with the best odds to see solid returns even though overall investing is a risk. With the cannabis sector, things are unpredictable just make sure to use your best judgment when investing in marijuana stocks.
Top Canadian Marijuana Stocks To Watch In 2021
Cronos Group Inc.
Cronos Group Inc. operates as a cannabinoid company. It manufactures, markets, and distributes hemp-derived supplements and cosmetic products. The company is also involved in the cultivation, manufacture, and marketing of cannabis and cannabis-derived products for the medical and adult-use markets.
So far for trading July CRON stock has seen a big drop in trading. However more recently CRON stock has started to see some better upward movement in the market. Moving into August some shareholders feel CRON stock will be able to build more upward momentum. This past month back in June the company announced its strategic investment in PharmaCann which is a leading U.S. cannabis company. Cronos Group has purchased an option to acquire an approximately 10.5% ownership stake in PharmaCann on a fully-diluted basis.
The Option exercise will be based upon various factors, including the status of U.S. federal cannabis legalization. As well as regulatory approvals, including in the states where PharmaCann operates that may be required upon exercise. If this venture starts to progress it has the potential to yield promising results for the company.
Words From The Company
“Our U.S. growth strategy focuses on delivering long term shareholder value by assembling a best-in-class brand and intellectual property portfolio and positioning to deploy our products in the U.S. market through investments and opportunities with U.S. leaders who share our vision and commitment to responsibly distributing disruptive cannabinoid products that improve people’s lives,” said Kurt Schmidt, President and Chief Executive Officer of Cronos Group. “We were attracted to PharmaCann as an investment because of their disciplined capital allocation, strong track-record and compelling licensed manufacturing and retail footprint. Further, we are excited to partner with PharmaCann because of our shared commitment to elevating product quality and consistency through science and best in class operations and manufacturing.”
HEXO Corp. through its subsidiaries, produces, markets, and sells cannabis in Canada. It offers dried cannabis under the Time of Day and H2 lines; Elixir, a cannabis oil sublingual mist product line. As well as Decarb, an activated fine-milled cannabis powder product. The company offers its adult-use and medical products under the HEXO brand name. Additionally, it offers cannabis beverages under the Little Victory, House of Terpenes, Mollo, Veryvell, and the XMG brand.
Over the last several months of trading HEXO stock has been facing issues with sustaining its market momentum. HEXO stock after the first week of June began to descend in the market. Before this drop, the company was showing some type of growth potential in the market.
For trading in July, HEXO stock has continued to fall yet in more recent trading the company has started to rise once again. With August around the corner, this Canadian cannabis stocks to watch may start to recover even more. In June, HEXO Corp. announced it has formalized its US presence through the acquisition of a production facility in Colorado.
Words From The CEO Of HEXO Corp.
“The Colorado facility will allow us to successfully execute on our US strategy, which includes supplying high quality Powered by HEXO® technology and leveraging our intellectual property portfolio across the United States,” said HEXO Corp CEO and co-founder Sebastien St-Louis. “The facility will also provide us with the necessary infrastructure to continue expanding our joint-venture with Molson Coors to create Truss CBD-infused beverages, while also creating the necessary capacity to support future, non-beverage CPG partnerships.”
MAPH Enterprises, LLC | (305) 414-0128 | 1501 Venera Ave, Coral Gables, FL 33146 | email@example.com