2 Marijuana Stocks To Watch Before Next Month
Marijuana stocks this past week showed some pullback in the market. Yet the start of a new week may yield different results. Since the last half of May marijuana stocks have begun sustaining better trading momentum. Unfortunately, a few days before the weekend started marijuana stocks had another dip in the market. With as volatile as the sector has been many feel this dip is another chance to buy top marijuana stocks at low entry points.
Realistically even if the sectors didn’t dip again many marijuana stocks are still showing good buying opportunities. The sector is still trying to recover further from the last 3-4 months of trading. During that time the entire sector was hit hard by a big downtrend in trading. Now more momentum is building causing many cannabis stocks to rise once again. The saying goes slow and steady wins the race however the sector needs to climb higher for it to be considered a real recovery.
Yet some cannabis stocks even with the downtrend that took place still held a promising market-level even with a drop in trading. But for others, it’s going to be a long road before seeing trading like at the start of February. In the first 2 weeks of February, many cannabis stocks went on a nice run some even reaching new all-time highs. This is the type of market-level that investors want to see the sector climb back to.
Right now it seems that other areas of the stock market are impacting other niches which have caused this current pullback. However, shareholders are remaining confident with a new week trading soon to arrive and are keeping watch for any changes. Many analysts feel June is going to be a solid month overall. Below are 2 marijuana stocks to watch this week.
Marijuana Stocks To Watch Right Now In June
Since March Trulieve Cannabis Corp. has faced a big drop in trading. Yet in comparison to other marijuana stocks, they still hold a higher market level than most. Nevertheless, TCNNF has had a significant drop in the market. From March 16th to June 18th TCNNG fell 31 percent in trading. Now in the last few days of trading TCNNF stock has started to slowly climb.
But with how unpredictable the sector can be investors are looking to see a bigger rise in trading. Looking at the company outside of the market and much progress has taken place. Trulieve is one of the more authoritative multi-state operators in the cannabis industry. The company also has the dominant share of Florida’s cannabis market. In recent news, the company has made a few key announcements.
For one Trulieve has opened a new dispensary in Tampa Florida making it the 89th location to open nationwide. Next, the company has announced its 90th cannabis store location to be opened in Tavernier FL. The company from an operational standpoint has shown solid growth and innovation as a top cannabis company. In more recent news Truleive announced expungement clinics in Pittsburgh during the 2021 WPA juneteenth freedom days festival.
Words From The Company
“It’s important to recognize, especially on the Juneteenth holiday, the history of disenfranchisement and racism associated with cannabis prohibition and enforcement, and as a leader in the legal cannabis industry we have a responsibility to take steps to address that past,” said Kim Rivers, CEO of Trulieve. “Trulieve takes pride in our efforts to acknowledge and ensure the equity of all Trulieve patients, customers and employees, and provide support to our communities however possible.”
MariMed Inc. has been on the few marijuana stocks that have shown more consistency in upward trading. If you look at the trading chart of MRMD stock you can see that the downtrend over the last several months did impact the company as much as others. Even after February 10th when the majority of the sector fell MRMD stock had a small dip in comparison to other cannabis stocks.
After the 10th of February, MRMD stock was a bit volatile but ultimately was able to see around in trading later on but did face a drop in the market. The initial start to seeing the company push higher in the market started in April. The 20th of April was around the time when MRMD stock went on run while the sectors still were being hit with a loss of trading momentum. April 20th to May 3rd MRMD stock saw gains of 26 percent this was a solid jump in trading that allowed for investors to take some profits.
Now for those how either held or bought more saw an even bigger rise later on. From the 3rd of May to June 3rd MRMD went on a nice run that led to a 42 percent increase in trading. However, after this run, the company did see a bit of pullback but currently started to rise once again. The hope is the company can sustain its upward momentum that could possibly lead to a bigger increase in trading before the end of the month.
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