2 Top Marijuana Stocks To Watch This Month
The current trading of marijuana stocks over the last month has built a renewed faith amongst investors and shareholders. Now that the sector is seeing a bit more consistency in momentum some cannabis stocks are starting to recover. Still, investors are approaching marijuana stocks with a bit more caution due to how unpredictable the sector can be.
Most of this uncertainty grew in the last 3 months right after the second week of February. During this time the cannabis sector went through a 12-week downtrend. Although the bulk of the sector was impacted by this drop in trading some marijuana stock even with a drop in trading sustained a decent market position. Starting from May a few factors have contributed to the current recovery of the cannabis sector.
For one due to the progress of cannabis legislation specifically with the possible passing of federal reform, many companies have started to see positive sentiment from It. As well many cannabis companies have been releasing big news and positive earnings. With this as well it has led to an influx of trading moment for many marijuana stocks. With the start of a new week here, many analysts feel the remainder of the month will continue to yield positive results.
Right now many investors are still waiting for a big enough climb to where they can profit off of their investment. Some feel by mid-2021 we may see similar trading levels like back at the start of February where some cannabis stocks reached new highs. Also during that time frame, the bulk of the sector saw a nice run before the downtrend took place.
The Cannabis Industry 2021 Update And Current Progress
Looking past cannabis stocks the cannabis industry has been growing and evolving in many ways. For one in states that have legalized recreational marijuana are seeing record-breaking tax revenues. Which for some states will be used to fund different programs to help rebuild communities impacted by the war on drugs.
Furthermore, this same tax money is also being used to help promote social equity. Overall the growth of the sector is one of the fastest-growing industries. As time continues more people will search for ways to become invested in the cannabis industry.
Marijuana Stocks For Your June Watch List
Trulieve Cannabis Corp.
Trulieve Cannabis Corp. is one cannabis company that holds a dominant place in the cannabis industry. Over the last year, alone the company has grown through different ventures. Also during the height of the pandemic business continued to flourish for the company. This allowed for solid earings which resonated well with how the company trades.
Even over the last 3 months as the sector was falling TCNNF stock maintained a decent market position. In the last month of trading, TCNNF stock started to slowly climb back up in the market. From April 20th to June 10th TCNNF stock is up a modest 7 percent with more momentum currently building. As trading in June continues to look better for the sector investors are keeping an eye on this top marijuana stock to watch.
Curaleaf Holdings Inc.
Curaleaf Holdings Inc. is a particular marijuana stock some investors feel has more long-term value. In recent trading, the company started to show signs of better momentum. However in the last 2 weeks, CURLF stock has been a bit more volatile. Now if you look from April 20th to the 3rd of May CURLF stock reached gains of 19 percent. Since this time the company has dipped in trading.
Even still the company just like Trulieve holds a decent market position to build back from. This is partly why shareholders still believe in this cannabis stock as a top company in the sector. Because when something does pick up the company will have a bit of a head start over other marijuana stocks in the market. In recent news, Curaleaf has signed definitive documents to acquire the Los Sueños Farms and its related entities.
Which includes one of Colorado’s largest grow operations. This move will significantly expand Curaleaf’s Colorado presence. This will be done by vertically integrating in the state with large-scale outdoor cannabis cultivation. With ventures like this, it only goes to show the continued strength of the cannabis industry. Not only that when news of further progress is released at times it can have a positive impact on how marijuana stocks can trade.
Words From The Company
Boris Jordan, Executive Chairman of Curaleaf, stated, “The acquisition of Los Sueños provides Curaleaf with outdoor cannabis cultivation expertise at commercial scale and establishes our foothold in the $2.2 billion Colorado market. This deal furthers our strategy of constructing low-cost supply chains that will secure healthy margins and position us for interstate commerce when it comes. Ultimately, our goal is to cultivate cannabis at less than $100 per pound, and this acquisition is a significant step in the right direction.”