Two Retail Marijuana Stocks to Watch
August was an interesting month for marijuana stocks. We saw investors take more interest in U.S based Marijuana stocks like GrowGeneration Corp. (NASDAQ:GRWG) and Trulieve Cannabis Corp. (OTC:TCNNF). With September just beginning,the next 30 days could show a lot of promise for marijuana stocks. Because of the widespread market, we see more pot stocks have begun to emerge from the U.S. cannabis industry. This increase in the market has created an opportunity for investors to capitalize on many different areas of the cannabis industry.
- How Can The Past Help Determine The Future of Marijuana Stocks
This is everything from retail sales all the way to cannabis packaging and more. With a great deal of potential for pot stocks moving forward, we have to consider which companies are more volatile than others. In Canada, pure play pot stocks like Canopy Growth Corp. (NYSE:CGC), have been at the top in terms of price fluctuations. And some U.S. marijuana stocks are right on par. With that being said, here are some of the top performing pot stocks to watch for September.
A Marijuana Stock To Watch: A Big Retail Player
Planet 13 Holdings Inc. (OTC:PLNHF) was one of the top-performing marijuana stocks in August. During that time, PLNHF stock shot up by as much as 25% to its current price of roughly above 3$. For those who don’t know, Planet 13 operates as a retailer of cannabis based in Nevada. The company operates an aptly titled SuperStore which spans over 110,000 square feet of prime Las Vegas real estate. Within this location is everything from a coffee shop to a state of the art cannabis testing facility.
In addition, PLNHF stock has benefitted from the company’s move into California’s cannabis industry. This includes a new location only a short ways away from Disneyland in Santa Ana, CA. Because it is a retailer of cannabis, PLNHF stock can be quite volatile. However, given how the pandemic has affected many businesses the company has been able to adapt to the current state of the Covid-stricken cannabis industry. Because of this, many investors view it as a marijuana stock to watch.
A U.S. MSO Pot Stock to Watch
Cresco Labs Inc. (OTC:CRLBF) is another one of the top performers in the market. CRLBF stock raked in as much as 20% in gains last month which shows promise for September. As an MSO, CRLBF stock has been able to show greater profitability than most other marijuana stocks. Investors have found that MSO pot stocks continuously outperform most pure play pot stocks when it comes to both earnings and revenue. Because of this, investors have felt more and more comfortable with the idea of investing in MSOs.
In addition, Covid has led to a much greater demand for cannabis across North America. Because the company is based in the retail area of the cannabis industry, the company may be able to benefit from the increase in cannabis demand. Cresco Labs is still a relatively new marijuana stock and with the current growth of the industry, Cresco future could be a promising one. As investors continue to look for value in the cannabis industry, a company like Cresco Labs Inc. is a good starting point for a marijuana stock to watch.
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