3 Marijuana Stocks To Watch Before Next Month
The volatile action of marijuana stocks in recent trading has been undeniable. A great deal of price fluctuations is happening for many marijuana stocks. Some of this can be attributed to several different factors. Right now in the cannabis industry, a great deal of progress and continued concerns are occurring. For example, more states are going legal adding more value to the overall U.S. cannabis industry.
The states that go legal will create new cannabis markets that can help improve state-level economics. Such as more work opportunities and using cannabis tax money to establish programs. These potential programs states are advocating for would help rebuild communities impacted by the war. In connection with state-level legislation, a big push for federal cannabis reform is also in the works.
Just these current events alone have played a part in the way many marijuana stocks have been trading over the last month or 2. In more recent trading the cannabis investors have a growing concern in regards to this new Delta variant and facing another shutdown. Now during this past shutdown cannabis businesses were deemed essential and some cannabis companies during this time in 2020 reported having record cannabis sales.
So as of now, things are still stable to a degree but with a massive drop in the cannabis sector, some feel rise in trading is on the way. From mid-February to now it’s been a battle to recover lost ground in the market. What this means is the entire sector is now trading averagely at a lower market level. However, this doesn’t mean that all is lost for marijuana stocks. For some, this is a time to reestablish one’s investment portfolio for the future by adding top-performing marijuana stocks. The 3 cannabis stocks below may be good investment options in 2021.
Top Marijuana Stocks To Watch Right Now In 2021
- GrowGeneration Corp. (NASDAQ:GRWG)
- Greenlane Holdings, Inc. (NASDAQ:GNLN)
- Trulieve Cannabis Corp. (OTC:TCNNF)
GrowGeneration Corp. through its subsidiaries owns and operates retail hydroponic and organic gardening stores in the United States. It engages in the marketing and distribution of horticultural, organics, and lighting, and hydroponics products. The company also operates GrowGen.Pro, an online e-commerce store. The company serves commercial and urban cultivators growing specialty crops, including organics, greens, and plant-based medicines.
In the last 4 weeks of trading GRWG stock has not been able to sustain better trading momentum. Back in June GRWG stock had a little more upward push before current trading in July. As of now, GRWG stock is still working on reaching a higher market level as trading in August will soon take place.
Greenlane Holdings, Inc.
Greenlane Holdings, Inc. sells cannabis accessories, child-resistant packaging, and specialty vaporization products in the United States, and various regions around the globe. The company provides vaporizers, liquid nicotine, storage solutions, pipes , as well as bubblers, rigs, and other smoking and vaporization-related accessories. At the start of July GNLN stock was still holding a decent market level from trading back in June. Yet for trading in July much of the action that took place for the company resulted in a drop in the market.
However, there was a small spike that did happen closer to the end of July. From July 19th to the 21st GNLN stock was able to produce a small 2-day run. Those who bought the dip and were able to sell shares off as GNLN stock climbed saw some modest gains. Pushing further into the month GNLN stock was not able to keep its upward push going. With a short time left in the month, August may shape up to be a better time for this marijuana stock to watch.
Trulieve Cannabis Corp.
Trulieve Cannabis Corp. together with its subsidiaries operates as a medical cannabis company. The company cultivates and produces products in-house and distributes its products to Trulieve branded stores across the United States. Currently, the company controls the majority share of Florida’s medical marijuana market. Back in mid-June TCNNF stock was showing a little more of an upward push in the market.
Looking from the 15th of June to the 23rd TCNNF stock had a 10 percent increase in trading. This rise was short-lived but it did give shareholders a chance to see some type of return. Unfortunately TCNNF stock was one of the cannabis companies that were once a top-performing cannabis stock. Even with TCNNF stock still holding a decent market-level, it’s trading at a considerably lower price point.
When drops like this happen with a cannabis company like Trulieve its becomes more enticing to purchase shares of the company. The reason for this is because on the day the company shares go back up even half of what they used to be it will be a potentially nice payday for shareholders. Currently TCNNF stock is down in July but as mentioned above the company still holding a higher market level than other cannabis stocks in the market. With a new week alomst here better trading might follow for Trulieve.