With so much going on in the U.S., it seems as though marijuana stocks have taken a back seat to the high volatility it once saw. The focus in the nation seems to be on rising geopolitical tensions in the Middle East. With this in mind, it seems as though looking for marijuana stocks to watch has steadily been able to see positive sentiment since the start of the new year. This sentiment is shared across the market from the billion-dollar market cap pot stocks all the way to the small and mid-cap players.
With this in mind, there is no doubt that the future of pot stocks remains dependent on new legislation. Currently, there is little to no focus on legislation for marijuana stocks as the focus is elsewhere. But, as we move deeper into the new year, it seems as though that focus could come back into play in the near future. With the majority of the public supporting legislation for marijuana to become legal, it seems as though pot stocks could continue to rise in the nation.
Marijuana Stock To Watch: A Cannabis Producer
Auxly Cannabis Group (CBWTF Stock Report)(XLY ) is one of the more notable growers in the cannabis industry. The company may not be the largest by market cap, but it definitely has a lot to offer investors. The company has been working to move into the production of edibles, which it deems an important part of the future of cannabis. In Canada, the governing board of all things cannabis only recently legalized the sales of alternative products.
These products include edibles, tinctures, extracts and more. Auxly feels as though it can take advantage of this shift in the market by producing extremely high-quality products. The company has stated that its goal is to make some strong partnerships moving into the new year. With this, the hopes are that the company can also see an increased amount of profitability moving forward.
Marijuana Stock To Watch #2 A Boutique Cannabis Brand
Flowr Corp. (FLWPF Stock Report) (FLWR) is a part of the ultra-premium sector of the cannabis market. While this sector is not huge, it seems as though Flowr Corp. has been able to all but remain at the top of it thus far. The company began last year with around $10 million in sales. By the end of the year, that number jumped to as much as $80 million. Much of this is due to a new production facility that saw the company massively increasing the amount of cannabis that it can produce.
Additionally, the company plans to move into the derivative side of the market as profitability there could be greater. As one of the main players in the ultra-premium market, the company has quite a unique place in the cannabis sector. Hopefully, moving forward the company can begin to expand its reach in the form of other geographical locations. With this in mind, it remains a key pot stock to watch.
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