2 Top Marijuana Stocks To Watch In July 2021
This week marijuana stocks have found a fair amount of trading momentum. The sector as a whole has been a bit volatile but overall more upward trading has occurred. With marijuana stocks trading in an unpredictable market, volatility can be both positive and negative. For instance, if a certain cannabis stock is down volatile trading may help the company climb back up and vice versa. In recent trading, the cause of some of this upward momentum comes from what is happening outside of the market.
In the cannabis industry, much growth and progress is taking place right now. Everything from companies expanding through M&A. As well the development of legal cannabis markets around the U.S. Yet the main factor causing this momentum to enter the sector is a combination of more states going legal and federal cannabis reform. This week 3 new states have enacted cannabis laws in South Dakota, Connecticut, and Virginia. In addition to this, there is a big push from big politicians in regards to federally legalizing marijuana. With cannabis prohibition potentially coming to an end it will have an adverse impact on the cannabis industry.
Not just with a possible influx in trading for many cannabis stocks but for more opportunity in the sector. Without the fear of federal regulators, taking actions business ventures that were once unlawful can now be carried out. For example with federal reform taking action in the U.S. places like Canada will now be able to do business inside of the United States. As well as other abroad companies looking to take part in the U.S. cannabis industry. From 2020 to 2021 a great deal of progress in all areas has been pushing the limits. So with more attention is circulating around more people potentially looking to invest in cannabis right now.
Marijuana Stocks To Watch Right Now
Curaleaf Holdings Inc
Curaleaf Holdings Inc. is one of the highly favored top marijuana stocks to watch. The company operates as an integrated medical and wellness cannabis operator in the United States. It runs in two parts, Cannabis Operations, and Non-Cannabis Operations. The Cannabis Operations segment engages in the production and sale of cannabis through retail and wholesale channels. In the last few weeks of trading CURLF stock has started to see a rise in the market.
In the month of June, CURLF stock faced a big drop in trading. Yet prior to this the company was trading at a higher market level. It was not until mid-June when CURLF stock started to see a big boost in trading momentum. From May 18th to the 28th CURLF stock jumped up by 9 percent. Furthermore from this point, a slight dip did occur but since then has started to pull back up as of July 1st. In recent news, the company has released its Q2 2021 financial and operational results.
Management will host a conference call and audio webcast that evening at 5:00 p.m. ET. As a marijuana stock to buy the company is looked at as both a short-term and long-term play. With a new month underway many investors will be keeping eye on CURLF stock for the remainder of 2021 and beyond, Especially as more growth and innovation occurs for the company.
Cresco Labs Inc.
Cresco Labs Inc. is another cannabis stock to watch that has captured the attention of marijuana investors. In the last 4 weeks of trading CRLBF stock has faced a significant drop in trading. For the majority of trading in June, the company was not able to leverage any upward momentum. However, it was not till the end of the month when CRLBF stock had a nice run heading into July.
From June 21st to the 1st of July CRLBF stock has increased its market position by 10 percent. Those who purchased shares on the 21st of June and held till now would have had the chance to see a nice return. Overall the company is watched and traded by many investors. Unfortunately not all cannabis stocks including Cresco Labs have been able to trade at a higher level before this past downtrend.
However, with July trading already starting hopes are high for what’s next to come for CRLBF stock. Back on the 21st of June Cresco Labs announced the opening of Sunnyside Philadelphia. This new location is the company’s fourth dispensary in Pennsylvania and its 33rd operating U.S. Store.
Words From The CEO Of The Company
“I commend our Retail, Real Estate and Community Integration teams for their outstanding work in the opening of another Sunnyside location that will help grow our presence in the sixth largest U.S. city,” said Charlie Bachtell, Cresco Labs’ CEO and Co-Founder. “Our Sunnyside retail platform continues to outpace industry averages on per store retail metrics thanks to our teams’ ability to open in the best locations, secure an array of products to serve a breadth of consumer needs, and deliver an excellent customer experience. We’re delighted to begin bringing the Sunnyside retail experience to medical patients in downtown Philadelphia.”
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