Top Marijuana Stocks To Watch Mid June 2021

With more momentum building up for marijuana stocks things are starting to look a bit more volatile. This could be for many different reasons but overall more market action is taking place. Some analysts feel eventually trading will return to how it was at the beginning of February. Now with that said it will take more time before a run like this is made. Mainly due to how low cannabis stocks are still trading.

Yes, trading is rising overall but due to how low the sector dropped over the last 12 weeks marijuana stocks need to recover even more. Once the sector can reach even halfway to what trading was like 4 months ago shareholders will then be able to make bigger profits. Even as the bulk of the sector climbs back up there are some top cannabis stocks to buy at good entry points. Investors should expect and adjust for any pullback caused by volatility.

Meaning cannabis stocks naturally fluctuate in price without waring which can be a challenge for investors at times. Nevertheless, right now some investors have cut their losses and others are showing a great amount of patience. With how the market is behaving it seems like it’s just a waiting game before a possible run takes place. Now for the overall cannabis industry, things are progressing and growing at a continuous fast pace.

More states are soon to vote on legalizing marijuana and other states are furthering the development of their existing markets. The biggest challenge to face is the passing of federal cannabis reform. With cannabis being federal legal it will allow for more growth and opportunity that was once forbidden to federal law. But if things work out how they’re supposed to the future of policy change is closer than ever before.

Top Marijuana Stocks To Watch Right Now

  1. Tilray, Inc. (NASDAQ:TLRY)
  2. TerrAscend Corp. (OTC:TRSSF)

Tilray, Inc.

Tilray, Inc. since the drop in February has shown a good amount of volatility. Looking at March 5th to the 10th TLRY stock started to rise back up before dipping back down. During this run in March, TLRY stock jumped up by 40 percent. Even with dropping TLRY stock was working to sustain its upward momentum. Now in more recent trading TLRY stock has been fighting to climb back up in the market. From May 13th to June 14th TLRY stock is up over 30 percent. This uptick is a healthy indicator that the company has the ability to see even higher market levels.

marijuana stocks on robinhood Tilray Inc. (TLRY)

Especially if the company can further its climb in the market. In recent news, the company announced the launch of a new medical cannabis brand Symbios. This new brand was developed to provide a broader spectrum of formats and unique cannabinoid ratios at a better price point. This being done all while offering medical patients a full comprehensive assortment of products. Which includes flower, oils, and pre-rolls for their health and wellness regiment.

[Read More] Delaware’s Cannabis Reform Bill Is Set For A House Vote In June

Words From The Company

Irwin D. Simon, Tilray’s Chief Executive Officer, said, “Medical cannabis innovation and patient care are core to the new Tilray’s business and global growth strategy. As we look ahead, we remain focused on building momentum across our three medical brands – Symbios, Aphria, and Tilray while meeting the large and growing demand for new, high-quality cannabis products that promote health, wellness, and wellbeing.”

TerrAscend Corp.

TerrAscend Corp. over the last month of trading has shown a bit more volatility even with another dip in trading. From mid-April to June TRSSF stock has started to see some pick up in trading. April 13th to the 30th TRSSF stock climbed 15 percent. Moving forward from the end of April to June 7th TRSSF stock jumped up a modest 4 percent. Right now many shareholders are waiting to see a bigger jump in trading. So with more time left in June, it’s possible to see the company rise to a better market level before the end of the month. TRSSF

Yet the concern is how long they’ll have to wait to see such an influx in trading. Back at the end of May, the company released its Q1 2021 net sales. During this time TerrAscend reported generating $53.4 million in net sales compared to $25.9 million in Q1 2020. This made for a 106 percent raise for that time. Next, the company reported a substantial cash balance of USD $234 million provides ample support for future growth initiatives.

[Read More] Top Marijuana Stocks You Should Know About Right Now

Words From Management

“In Q1, we drove strong revenue growth, margin expansion and cash generation by continued focus on operational excellence, disciplined cost control and effective allocation of capital,” said Jason Wild, Executive Chairman of TerrAscend. “I’m pleased with the strong results our team has delivered to begin the year.

Mr. Wild added, “Looking ahead to the rest of the year, there are strong operational tailwinds helping our business as we continue to see the benefits from recently completed cultivation expansions, and the addition of retail locations in New Jersey, Pennsylvania and Maryland.”

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