2 Marijuana Stocks To Watch In September For More Momentum
The majority of marijuana stocks have been working on sustaining better trading momentum. In the last few weeks of August, some marijuana stocks have been able to see better days in the market. Now, these green days for cannabis stocks have not lasted as long as they used to. Nonetheless, it has given some shareholders the chance to see some type of return on their investment. Right now for some the success and growth of the cannabis industry are what’s keeping people interested in investing in cannabis.
Especially marijuana stocks and how the sector has been performing. The current state of the cannabis sector is showing another good opportunity to find the top marijuana stocks to buy. As mentioned above some better days of trading have occurred but investors want to see a consistent recovery. Because marijuana stocks have dropped so much in the last several months it has created a good amount of fear and uncertainty.
This fear is centered around what will happen with the future performance of marijuana stocks. As well as keeping the idea alive that cannabis stocks are still as profitable as they were from the end of 2020 to the middle of February. For now, it’s a game of patience as the whole industry waits to see what will bring pot stocks back up. But in the meantime, if you are looking to add some cannabis companies to your portfolio do this before. You want to take the steps needed to research each possible cannabis stock to buy.
Investing In Marijuana Stocks Is Always A Risk
Investing is a risk no matter what and when you are informed about that company it can help determine if it’s a good investment or not. Some marijuana stocks may not perform well outside of the market which can play a factor in how long the company will uphold in the market. At times if a company doesn’t trade well the success outside of the market at times can add some positive momentum inside the market. All in all even with the sector not trading at levels it once was at there is still plenty of opportunities to take advantage of.
Top Marijuana Stocks To Watch In 2021
- Cansortium Inc. (OTC:CNTMF)
- IM Cannabis Corp. (NASDAQ:IMCC)
[Read More] Why Have Pot Stocks Been Down? Here’s What You Should Know
Cansortium Inc.
Cansortium Inc. through its subsidiaries produces and sells medical cannabis in the United States. The company engages in the cultivation, processing, retail, and distribution activities. Back on August 24th Cansortium reported its Q2 2021 financial results. During this time the company increased its revenue by 24 percent to $16.5 million compared to $13.2 million. As well the company also had an Adjusted EBITDA which doubled to $5.2 million or 31.8% of revenue. This is in comparison to $2.6 million or 19.7% of revenue.
Words From The CEO
“We continued to drive growth and profitability in our key markets during the second quarter, as reflected by another month of record sales in May,” said CEO Robert Beasley. “Our continued focus on providing differentiated, high-quality flower and wellness products has been well received by our patients. Additionally, we are now offering several boutique strains that have never been sold in the Florida market.”
CNTMF Stock Performance And Market Update
In the last few days of July heading into August, CNTMF stock started to see a slight rise in trading. This rise started from the 26th of July to the 3rd of August. After this time CNTMF stock began to see a drop in trading. This loss in upward momentum lasted the entire month of August. Yet in the last week of August heading into September CNTMF stock started to recover. With trading in September underway, shareholders are watching to see if this current rise will continue.
IM Cannabis Corp.
IM Cannabis Corp. engages in breeding, growing, and supply of medical cannabis products in Israel, Germany, and Canada. It offers strains under the Roma, Dairy Queen, London, Tel Aviv, Paris, and Pandora Box brands; and CBD oil products under the IMC brand. The company also offers its intellectual property-related services to the medical cannabis industry. 
In the middle of August, the company released its Q2 2021 financial results. The company was able to increase its revenue to $11.1 million this counted for a 27% percent increase from Q1 2021. As well the company signed a definitive agreement to acquire Vironna Pharm. This venture would accelerate its vertical integration strategy in Israel.
Words From The Company
“In preparation for expected government reform in both medical and recreational cannabis in Israel, the acquisition of Vironna strategically compliments our previous announced transactions with Panaxia and Pharm Yarok by strengthening our direct links to patients and client data as well as consumer preferences” said Oren Shuster, CEO of IMC.
[Read More] Will Reclassifying Cannabis Happen After Court Rejects The DEA’s Recent Case?
IMCC Stock Performance And Market Update
At the start of August, this cannabis stock was showing signs of picking up some good trading momentum. In the first 12 days of August is when the company was building this momentum. Unfortunately, this was short loved as IMCC stock saw a big drop in trading for the back half of August. Since that time IMCC stock has started to build its momentum back. Hopefully, this will help this cannabis stock see better trading throughout September.
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