Are These Cannabis Stocks Worth Being On Your 2021 Watchlist?
In the last several days of trading, some cannabis stocks were seeing better movement in the market. Fast forward to the present day and the sector is facing some more pullback. Even with now being another good time to find top marijuana stocks to buy investors still want to see the sector show more upward consistency. Now there are some factors that could be the reason why most marijuana stocks have not been able to run like they used to.
For starters, a big focus has been on ending cannabis prohibition and enacting federal cannabis reform. One of the bigger issues with ending cannabis prohibition is President Biden mentioning he is in opposition to it and will not be quick to sign off on that type of legislation. While at the same time saying better reform is needed and he will leave it up to individual states. This alone has created a lot of fear about the future laws in the cannabis industry.
However, there is still a big push to legalize the SAFE Banking Act. This particular bill would allow for all banks to work with legal cannabis clients without fear of breaking any federal laws. On the day any one of these possible pieces of federal reform is passed it may cause some marijuana stocks to run. This would be based on investors buying and selling shares with the anticipation of a progressive future with some type of federal reform passed.
The Future Of Marijuana Stocks And The Cannabis Industry
But for now, it’s a waiting game to see what will unfold for the cannabis industry. In addition to finding another catalyst that could help the cannabis sector push back up to levels near what they before mid-February. Just make sure to conduct thorough due diligence before any investment is done. The 2 marijuana stocks to watch below are possible options that may see a rise in trading before the end of the month.
Top Cannabis Stocks To Watch In 2021
Curaleaf Holdings Inc.
Curaleaf Holdings Inc. operates as an integrated medical and wellness cannabis operator in the United States. It operates in two segments, Cannabis Operations, and Non-Cannabis Operations. The Cannabis Operations segment engages in the production and sale of cannabis through retail and wholesale channels. In recent news, Curaleaf announced its new location in New Jersey. This new cannabis storefront located in Bordentown makes for the company’s 109th dispensary nationwide.
The Company also announced the launch of its Select brand in New Jersey, expanding the brand’s reach to 19 states. This venture only adds to what the founder of Curaleaf Boris Jordan touched on in a recent interview. During this interview, Mr. Jordan briefly talks about the progression of his company and business. A well as discussing different parts of the sector and other marijuana companies. In addition to other important information and overall outlook of the future of the industry.
Words From The Company
“It has been a privilege to serve New Jersey’s medical community over the past six years, and we look forward to forging new patient connections in Bordentown, generating new economic opportunities and delivering exceptional retail experiences as this market continues to mature,” said Patrik Jonsson, Curaleaf Regional President, Northeast. “We are also excited to expand our Select retail footprint and introduce Select Bites to new patient and consumer audiences.”
CURLF Stock Performance And Market Update
In the last several weeks of trading, CURLF stock has shown a fair amount of volatile trading. Since the last few weeks of August, this cannabis stock has been moving up and down in the market. This has provided some good buying opportunities for CURLF stock. Even though the company is down from market levels 6 months ago many feel strongly about the company.
With Curaleaf continuing to grow and show progress out of the market is what’s keeping some investors interested in this marijuana stock to watch. So far in September CURLF stock started at a decent market position to build from. However, in recent trading, the company is down. But with almost 3 weeks left in September, this top cannabis stock could start to pick up more momentum.
Glass House Brands Inc.
Glass House Brands Inc. cultivates, manufactures, produces, and retails cannabis. It offers cannabis products under the Glass House Farms, Forbidden Flowers, and Mama Sue brands. The company was founded in 2015 and is based in Long Beach, California. In recent news, the company announced its Q2 2021 results on August 16th.
Some of the highlights to note are the company’s net revenue jumped up by 62% year over year. As well the company saw an Adjusted EBITDA increased 100% to $2.2 million from $1.1 million in Q2 2020. Nex the company gross profit increased 56% to $8.6 million from $5.5 million in Q2 2020.
Words From The CEO Of Glass House
“We have continued to build on the substantial forward momentum we developed coming out of our qualifying transaction by executing on our expansion strategies and scaling our operations,” said Kyle Kazan, Glass House Chairman, and CEO. “While our results are strong and show consistent growth for both the top and bottom lines, we did face a few challenges at our Padaro farm coupled with a softer California wholesale flower market that have negatively impacted some of our yields and our COGS. “With our strong balance sheet, a team of proven operators, and significant growth projects ahead of us, we remain confident that we are exceptionally well-positioned to take on the significant opportunities ahead of us in the world’s largest cannabis market.
GLASF Stock Performance And Market Update
In the last month or so GLASF stock has shown a big amount of volatile trading. This led to a lot of price fluctuation for the month of August. Yet towards the end of the month heading into September this up and down trading continued to take place. At the start of September GLASF stock began to see more upwards trading. So far for September, this rise in trading has continued for the most part outside of some small dips. Even with some slight drops in trading overall in September GLASF stock has held a promising market position.