2 Marijuana Stocks That Are Working On Reaching A Higher Market Position
Marijuana stocks are still facing a good amount of pullback in the market. Even with the current time being one to find top marijuana stocks to buy investors are still waiting for an increase in trading. Yet it seems that the progress of the cannabis industry outside of the market doesn’t resonate inside of the market the way it used to. More investors adding cannabis stocks to their portfolio to be ready for the day the sector runs again.
But recently the only thing that seems to make the needle move is news or progress on enacting comprehensive cannabis reform. Currently, this is being done in several ways. For one passing the SAFE Banking Act which would allow financial institutions to work with marijuana clients without fear of federal penalties. As well the main concern of it all is the passing of either federally legalizing cannabis or the rescheduling of the plant. This would be the biggest obstacle for the cannabis industry.
With marijuana federally legalized or decriminalized in some fashion would open up many doors that were once closed. Some feel this is what’s missing from seeing the sector run. Yet this is not set in stone and no way to know if federal reform will make the sector rise as marijuana stocks perform in an unpredictable market. But with the current drop in the sector, it’s raising more concern and caution about future trading.
For now, it’s a buying frenzy once again as some are confident this downtrend will reverse at some point. Even in this drop-in trading, some cannabis stocks are seeing modest gains. But the overall upward consistency is not present in the market. These 2 marijuana stocks below may be a good fit for your watchlist as better trading may occur in the near future.
Marijuana Stocks To Watch In 2021
[Read More] 3 Top Cannabis Stocks To Watch Mid August
TerrAscend Corp. cultivates, processes, and sells medical and adult-use cannabis in Canada and the United States. It produces and distributes hemp-derived wellness products to retail locations; and manufactures cannabis-infused artisan edibles. The company also operates three retail dispensaries under the Apothecarium brand name in California and Pennsylvania. In the last 6-8 weeks the company has released some important news.
The company has recently announced that it will host a scheduled conference call to discuss the results for its second quarter. This call is set to take place on Thursday, August 19th, 2021 at 8:30 a.m. Also back on June 15th, the company announced the launch of the Kind Tree Branded portfolio in Maryland. TerrAscend recently entered the Maryland market with the closing of the acquisition of HMS Health back in May.
Words From The Company
“The integration of HMS is progressing well, and the introduction of our Kind Tree brand is an important milestone in this process,” said Jason Wild, Executive Chairman of TerrAscend. “Maryland is a key limited license market with strong growth potential, strategically located near our core Northeast markets of Pennsylvania and New Jersey. During the second half of 2021, we plan to significantly expand our cultivation and processing capacity in each of these underserved states.”
TRSSF Stock Performance And Market Update
In the last 2 months of trading and even a bit before TRSSF stock has faced a bit of a downtrend in the market. At the start of June, the company was losing good trading momentum. This loss in momentum caused TRSSF stock to see a drastic drop in trading. Yet at the end of June TRSSF started to recover a bit right before moving into July.
For the first few days of July, the company looked to have some consistency behind it. However, right after the 2nd of July TRSSF stock began to fall again. Essentially for the entire month of July TerrAscend continued to fall. Yet currently in August TRSSF stock has once again started to rise. But will the company be able to continue to rise is what investors are watching for.
Acreage Holdings, Inc.
Acreage Holdings, Inc. formerly High Street Capital Partners, is a principal investment firm specializing in the cannabis industry. Back on August 9th, the company released its Q2 financial results. During the second quarter of 2021, Acreage continued to improve its financial performance and made progress towards its strategic initiatives.
Some highlights to mention are the company consolidated revenue was $44.2 million. This made for a %63 increase compared to the same period in 2020. As well as a sequential increase of 15% compared to the first quarter of 2020. Next, the company saw an Adjusted EBITDA* in the second quarter of 2021 was $8.1 million. This was in comparison to a loss of $6.5 million in the same period in 2020.
Words From Acreage Holdings, Inc.
“I am once again pleased with our financial performance in the second quarter as we reported our second consecutive quarter of positive Adjusted EBITDA*,” said Peter Caldini, Chief Executive Officer of Acreage. “Additionally, our revenue growth accelerated to 63% year over year, and our gross margin remained strong at 54.0%. On an operating basis, our team continues to be focused on both driving profitability and accelerating our growth in our core markets.”
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