Will Marijuana Stocks Climb Higher Before September? Find Out More
Many marijuana stocks are still working on building back any lost momentum in the last 6 months. Currently, the entire sector is down even with some green days of trading the average in which the sector performs is down. Yet, this is not an entirely bad thing because people can now search for top pot stocks to buy at lower prices.
Even with many investors growing with concern about the sector some are still looking for the best marijuana stocks to buy. In the first 2 months of 2021, the cannabis sector was showing good upward consistency in the market. However, right after mid-February, things began to change as the sector went through a brutal downtrend. Since this time many have grown with fear and others have been holding on till the sector see’s its way back up.
As mention above this drop in the sector has left a window of opportunity to add top cannabis stocks to your investment portfolio. Nonetheless with the sector down from trading in early 2021 some investors are keeping hope alive. Some analysts feel that at some point the sector will rise. But how long will that be and how high will it go. Both of these questions leave investors puzzled as there is no way to know for sure.
As more progress and overall success continue in the cannabis industry investors are remaining anxiously patient for things to change. Right now the big focus is on comprehensive cannabis reform. For example, passing better cannabis legislation both federally and at a state level.
Marijuana Stock Update In August
So far in August, many cannabis companies have shown solid progress through the releases of the Q2 earnings. By showing the success many marijuana companies are having is further piquing the interest of more investors. The pot stocks below are 2 companies that may see higher market levels before next month begins.
Marijuana Stocks To Watch In 2021
Planet 13 Holdings Inc.
Planet 13 Holdings Inc. a cannabis company, cultivates, produces, distributes, and markets cannabis and cannabis-infused and related products for medical and retail cannabis markets in Nevada, the United States. In the last month, the company has released some important news.
Back on August 4th the Planet 13 announced having record-breaking cannabis sales for the month of July which came to be 11.9 million. As well the company also announced on the 5th of August that Planet 13 Illinois LLC wins Chicago License. The company won a Conditional Adult Use Dispensing Organization License in the Chicago-Naperville-Elgin region.
Which was granted from the Illinois Department of Financial and Professional Regulation. In more recent news the company announced that August 26thg will be the release date for the Planet 13 Q2 2021 earnings. Assuming the company shows positive Q2 earnings these accomplishments only show the progress and growth of the company. Which gives added support to more people wanting to invest in this marijuana stock.
PLNHF Stock Performance And Market Update
In the last 4-6 weeks of trading PLNHF stock has been showing more upticks in trading even with a slight loss of momentum. At the beginning of August, PLNHF stock was starting to make its way back up in the market. Yet after the 9th of August is when the company began to descend in the market.
For a good part of August PLNHF stock has had trouble with moving back up to a better market position. However more recently at the end of the month, things have once again had slowly started to pick back for this pot stock. With a new month soon to begin it’s possible to see this marijuana stock continue its climb at the end of August.
Verano Holdings Corp.
Verano Holdings Corp. operates as a vertically integrated multi-state cannabis operator in the United States. The company produces and sells a suite of cannabis products under the portfolio of consumer brands, including Encore, Avexia, MÃV, and Verano. It designs, builds, and operates dispensaries under the Zen Leaf and MÃV retail brands.
All of these dispensaries provide a cannabis shopping experience in medical and adult-use markets. In recent news, the company has shown to have record-breaking sales and solid overall Q2 earnings. In addition to opening its 36th MÜV Florida medical cannabis dispensary in downtown Tampa.
Words From The President Of Verano Holdings Corp.
“We’re very pleased to continue expanding access to premium medical cannabis for Florida patients,” said John Tipton, President of Verano. “As always, we’re grateful for the opportunity to serve our patients, and build upon our presence in a wonderful community here in Tampa.”
VRNOF Stock Performance And Market Update
The initial start to August for VRNOF stock was looking good. In the first 2 days of trading, VRNOF stock was on an upward path in the market. Yet with how volatile and unpredictable the market can be the company began to dip. This drop at the start of August has gone on for practically the entire month.
Even now at the end of the month things have slowly started to recover for VRNOF stock. But will the company be able to sustain this little momentum to even more trading momentum before heading into September? This is the question shareholders will have to wait and see as trading continues for this marijuana stock to watch.