These Marijuana Stocks May Be The Top Gainers In August
Are you ready to buy marijuana stocks in a volatile market? If the answer is yes there are some things to consider beforehand. For one if you want to make sure you educate yourself on the cannabis stock sector. What this means is you should spend time doing a good amount of research on marijuana stocks before investing. Currently, many marijuana stocks have been trading up and down as the sector tries to sustain better upward momentum.
With the sector showing more volatile action now could be the time to look for the best marijuana stocks to buy. With some marijuana stocks showing some pullback, many investors are adding new marijuana companies to their investment portfolio. Now may be a sharp time to get in at these lower entry levels. The reason for this is as of late many cannabis companies are getting ready to release their earnings.
When one company reports positive news or earnings shareholders feel other cannabis companies will follow the same progressive path. When this happens at times it does resonate well with other cannabis stocks and how they trade. The better the news the better the chances of seeing more trading momentum for the entire sector. Outside of upcoming earnings, any progress outside of the market has not had the same upward trading effect as it used it.
Marijuana Stock Market And Industry Update
Even though some cannabis stocks are struggling to see a recovery on the operational side of things progress is being made. The more these companies continue to show innovation and continued success the more people will look to invest in the market. For those who are trying to find a way in now could be a good time. Especially before many of the marijuana stocks start to see a stronger road to recovery in 2021.
Marijuana Stocks To Watch Right Now In 2021
Green Thumb Industries Inc.
Green Thumb Industries Inc. is known as one of the top marijuana stocks to buy. This is in addition to being one of the best performing cannabis stocks in the sector. The company manufactures, distributes, and sells various cannabis products for medical and adult-use in the United States.
In recent news, the company has announced it has closed on a transaction to buy a cannabis business in Rhode Island. With this acquisition, the company will expand its distribution footprint in the highly populated New England market. As well the company will be increasing its national presence to 14 states. Also, this gives Green Thumb one of only 3 retail locations in Rhode Island.
Words From the Company
"Entry into the Rhode Island cannabis market further strengthens Green Thumb's position on the East Coast, a region that has embraced the freedom for adults 21+ to choose cannabis," said Green Thumb Founder and Chief Executive Officer Ben Kovler. "This acquisition provides immediate scale within a limited license market and sits squarely in our enter, open, scale strategy to expand access to well-being through cannabis. We are ready to welcome the Summit team aboard Green Thumb's front-row seat to the Great American Growth Story."
GTBIF Stock Market Update And Performance
As of now, GTBIF stock like many other cannabis stocks is trading at a lower average. At the start of June GTBIF stock began with a small increase in trading momentum. Yet during the first week of June, the company was not able to sustain that momentum and started to dip. Now from the 9th to the 14th of June GTBIF saw a small pickup trading that was short-lived.
However, at the end of the month GTBIF stock started to see a stronger recovery before trading in July began. When trading in July started GTBIF stock was still able to keep its upward push going for in the first 2 weeks of the month. Since that time GTBIF stock has dipped back down and currently in August GTBIF has started to see better trading.
GrowGeneration Corp. is one of few marijuana companies that hold intrinsic value to the entire cannabis industry. The company through its subsidiaries owns and operates retail hydroponic and organic gardening stores in the United States. In the company’s most recent news they have announced they will be partaking in a new business venture. The company will be acquiring HGS Hydro, the nation’s third-largest chain of hydroponic garden centers. This transaction is expected to close before the end of the fiscal year-end 2021.
Words From GrowGen’s CEO
“We are excited to add HGS Hydro to our portfolio of stores before year end, with its impressive leadership and commercial teams. The addition of HGS Hydro will propel Michigan to GrowGen’s second largest state behind California. Michigan is one of the fastest growing states for medical and recreational cannabis sales.” said Darren Lampert, GrowGen’s CEO. “We look forward to building on HGS Hydro’s experience as we continue to expand our commercial footprint. This acquisition represents our continued focus on purchasing ‘best of breed’ hydroponic operations in the U.S. and strengthening our management team with seasoned veterans from our industry.”
GRWG Stock Market Update And Performance
Since the start of June trading for GRWG stock has been incredibly volatile. The company has been moving up and down in the market during this time. Trading from the start of June was done with GRWG stock holding a decent market position. Towards the back half of the month GRWG stock was able to see a nice run before the start of July. Looking from the 15th of June to the 30th of June GRWG stock saw a nice 20 percent jump in trading.
Heading into the month of July GRWG stock continued to rise for most of the first week of trading. After the 6th of July GRWG stock began to descend in the market. This drop-in trading continued for the entire month of July. Currently in August GRWG stock is working to reach a better market position and rebuild its lost momentum in the market,
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