Are These Hot Marijuana Stocks Worth Watching This Week?
Many marijuana stock investors are still reaming patient for better days of trading. Yes in the last few weeks there have been some days where cannabis stocks have been in the green. Yet what investors want to see is more upward consistency. Even if the sector doesn’t fully recover to levels before February any consistency from what the current levels are would be a win.
But what is leaving shareholders a bit stumped is what will it take to actually make this happen. In the last 6 months, any news or progress in regards to ending cannabis prohibition has helped some cannabis stocks reach higher levels. However, with Biden still in opposition to federal cannabis reform, it has left things at a standstill. Furthermore in the last month or so many marijuana companies have been releasing positive news updates.
Such as opening new dispensaries, and expanding operations through mergers and acquisitions. In addition to bringing on new staff and team members for some cannabis businesses. Some companies have also released their Q2 2021 earnings to which most were able to show more pros than cons. With these companies releasing these updates it has added some upward momentum which has helped.
But it’s not resonating the way it used to for the sector. Some investors feel it’s due to industry politics as well as the cannabis industry becoming more regulated. At times a sector can be the most profitable in a time of positive specuation. For instance, with the cannabis market back in 2018 people had high hopes with a big vision. But many were still uncertain of what would come from the sector as it was young and still developing and not as state-regulated as it is currently.
The Progress Of The Cannabis Sector
So with any hype of big news announcement, it would not only help that particular company. Meaning one company’s good news could help resonate well with other cannabis stocks. Which was the case until early 2021 yet that is not how things are currently working right now. This brings us back to the same question what will it take to see the sector rise back to better trading levels.
Top Marijuana Stocks To Watch Right Now In 2021
Greenlane Holdings, Inc.
Greenlane Holdings, Inc. sells cannabis accessories, child-resistant packaging, and specialty vaporization products in the United States, Canada, Europe, Australia, and South America. The company provides vaporizers, liquid nicotine, storage solutions, pipes, apparel lines, and consumption accessories. Greenlane was one of the very few cannabis companies to enter into a venture that seems to be what many others will soon do.
The company has embarked on a venture to merge with KushCo Holdings. This merger has been in the works for some time. In recent news, Greenlane has announced that it has finalized and completed its merger with KushCo. This new merger has now created one of the largest and most powerful ancillary companies. Not to mention a strong portfolio of house brands.
Words From The Company
“I am thrilled by the strong support our customers, employees, and shareholders have shown for this transformative merger and excited to welcome Nick and our new colleagues to the Greenlane team,” said Aaron LoCascio, Co-Founder and President of Greenlane. “I am convinced that together we will continue to drive innovation and build the industry’s leading ancillary cannabis company that is incredibly well-positioned to provide both exceptional service to our customers and create long term value for our shareholders.”
[Read More] Canadian Marijuana Stocks In September 2021
GNLN Stock Performance And Market Update
In the last 4 weeks of trading, GNLN stock has been working to sustain better market momentum. A little past mid-August GNLN stock began to build some of its lost momentum as the company started to slowly rise. This pattern of trading followed into the following month for GNLN stock. With coming off of a downtrend for the better part of August this upward push was needed. So far in September, the company has been looking a bit better even though some volatile trading has occurred. With more time left in September, it’s possible to see this cannabis stock further climb under the right circumstances.
Lowell Farms Inc.
Lowell Farms Inc. engages in the cultivation, extraction, processing, manufacturing, branding, packaging, and wholesale distribution of cannabis products to retail dispensaries in California. In the last 4-6 weeks the company has made some important news announcements. Back on the 16th of August Lowell Farms announced having record revenue.
As well as achieving a record cultivation output for the second quarter. Next, the company announced the closing of US$18 million equity private placement. Following this in more recent company news Lowell Farms announced it will be partaking in upcoming investors conferences. To which shareholders and possible investors can learn more about the company and future potential.
LOWLF Stock Performance And Market Update
Since the start of August LOWLF stock has been a bit of volatile cannabis stock to watch. In the month of August, LOWLF stock was fluctuating in price quite often. This up-and-down pattern allowed some investors to capitalize on this movement. Even if its short-term gains LOWLF stock was one of the few marijuana stocks to show any upward action at the time. However as August came to end so did any upward momentum. This loss in momentum led to LOWLF stock facing a current drop in the market so far in September. However, with 2 weeks left in the month, this marijuana stock could see another recovery. So until that happens investors will be keeping an eye on LOWLF stock for any changes that may occur.