Will These Marijuana Stocks Reach Higher Market Levels This Month
Many marijuana stocks are still working to build more momentum in the market. The start of June is becoming a bit of a volatile one. In the first few days into the new month, it looked like cannabis stocks were sustaining better market levels. Now some have shown a bit of pull back and others are still moving up. The last 3 months were a trying time for marijuana stocks as the sectors went through a long downtrend.
Yet since the last week of May heading into June cannabis stocks have begun to slowly sustain better trading. Even though some stocks are rising while others are not the overall sector is performing better than the last 12 weeks. Now the question becomes when will pot stock climb back to a level where investors and shareholders can make some money.
Right now investors are watching the cannabis sector to incase more buying or selling opportunities emerge. With part of the sector still trading at low levels, some may feel that adding more cannabis stocks to one’s portfolio could be a solid investment. Yet with marijuana stocks still, working their way up in the market it could be some time before a return is made. Also even though the price of some marijuana stocks are still low always do your homework first.
By researching and learning all you can before you invest it could help you determine how much risk is involved. When you know the risk associated in your potential investment it allows you a clear path towards making a return. As the cannabis sector continues to build up more this may be what’s needed for investors to feel less skeptical with looking for marijuana stocks to buy. 2 marijuana stocks to watch below may offer some value this month
Marijuana Stocks To Watch Right Now
- Canopy Growth Corp. (NASDAQ:CGC)
- MediPharm Labs Corp. (OTC:MEDIF)
Canopy Growth Corp.
Canopy Growth Corp. is known as one of the top Canadian marijuana stocks to watch. The company together with its subsidiaries works in the production, distribution, and sale of cannabis. As well as hemp-based products for recreational and medical purposes primarily in Canada, the United States, and Germany. Over the last week or so of trading CGC stock has started to pick up more momentum.
On May 24th CGC stock started its initial climb to better market levels. From the 24th to June 3rd CGC stock us up 7 percent. Yet currently CGC stock has started to show signs of a pull pack in trading. With June just starting there is plenty of time to see a rise in trading for this Canadian marijuana stock to watch.
In recent news, the company has released its Q1 financial results. During this time Canopy Growth Corp made a net revenue of $148 million in Q4 2021 was an increase of 38% versus Q4 2020. Next Canopy improved its supply chain execution and quality enhancements are leading to commercial success.
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Words From The Company
“During Fiscal 2021, Canopy Growth transformed into a CPG-modelled organization, reinforcing a foundation for sustained growth and long-term success. By leveraging consumer insights and innovation to deliver best-in-class products, Canopy Growth is positioned to achieve our goal of unleashing the power of cannabis to improve lives,” said David Klein, CEO, Canopy Growth. “We are starting to see strong momentum across all of our key businesses and remain firmly focused on capitalizing on U.S. opportunities in Fiscal 2022.”
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MediPharm Labs Corp.
MediPharm Labs Corp. is a global leader in specialized, research-driven cannabis extraction, distillation, and derivative products. In the last part of May MEDIF stock has been working to sustain better trading momentum. Since May 13th MEDIF stock has started to reach better market levels. Looking at the 13th to the 3rd of June and you can see that MEDIF stock is up 25 percent.
Even with a slight dip in trading MEDIF stock is still at a higher market level than at the start of May. Now in June, the company will aim to keep its rise in trading going as the month continues. This past month MediPharm Labs reports first quarter 2021 results, provides a strategic update.
Some key takeaways from this are the company expanded its licenses, global regulatory authorizations. As well as its product fillings with health authorities to allow for future sales into these channels. Next to the company achieved first sales to STADA with additional medical cannabis products to launch in Q2 2021
Words From The CFO
“As expected, Q1 was a cross-over period to our future state as the preferred global cannabis API provider to medical and wellness markets,” said Greg Hunter, CFO. “As such, we were pleased to see a substantial increase in international volumes and revenue which helped to offset challenging operating conditions in domestic Canadian retail channels.”