These Marijuana Stocks Might Be The Winners You Need This Month
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August 9, 2021
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This story originally appeared on MarijuanaStocks
These marijuana stocks may be the top winners 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 thing, if you want to make sure you educate yourself about the cannabis stock industry. This means that you should spend time doing a fair amount of research on marijuana stocks before investing. Currently, many marijuana stocks are trading higher and lower as the sector attempts to maintain better bullish momentum.
With the sector showing more volatile stock, perhaps now is 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 portfolios. Now may be the time to step into those lower entry levels. The reason is that lately there are a lot of cannabis companies gearing up to release their profits.
When a company reports positive news or earnings, shareholders believe other cannabis companies will follow the same gradual path. When this happens occasionally, it resonates well with other cannabis stocks and their trade. The better the news, the better the chances of seeing greater business momentum for the entire industry. Apart from future profits, any advancement outside the market has not had the same upward business effect that it has used it.
Update on the stock market and the marijuana industry
While some cannabis stocks are struggling to see a recovery on the operational side of things, progress is being made. The more innovative and successful these companies continue to be, the more people will look to invest in the market. For those who are trying to find a way in now, this could be a good time. Especially before many marijuana stocks start to see a stronger recovery path in 2021.
Marijuana stocks to watch now in 2021
- Green Thumb Industries Inc. (OTC: GTBIF)
- GrowGeneration Corp. (NASDAQ: GRWG)
[Read More] 3 Best Canadian Marijuana Stocks for Your Watchlist in 2021
Green Thumb Industries Inc.
Green Thumb Industries Inc. is known as one of the best marijuana stocks to buy. It is besides being one of the best performing cannabis stocks in the industry. The company manufactures, distributes and sells various cannabis products for medical and adult use in the United States.
In the latest news, the company announced that it has entered into a transaction to buy a cannabis business in Rhode Island. With this acquisition, the company will expand its distribution footprint in the densely populated New England market. In addition, the company will expand its national presence to 14 states. Also, it gives Green Thumb one of only 3 retail outlets in Rhode Island.
“Rhode Island’s entry into the cannabis market further strengthens Green Thumb’s position on the East Coast, an area that has embraced the freedom for adults 21 and older to choose cannabis,” said Ben Kovler, founder and CEO of Green Thumb. “This acquisition offers immediate scale within a limited licensing market and fits perfectly with our strategy of entry, openness and scale to expand access to wellness through cannabis. We are ready to welcome the Summit team aboard the Green Thumb front row seat at the Great American Growth Story.
[Read More] 2 marijuana stocks you should be up to date in 2021
GTBIF stock market update and performance
Currently, GTBIF stock, like many other cannabis stocks, is trading at a lower average. At the beginning of June, the GTBIF action started with a slight increase in sales momentum. Yet in the first week of June, the company was unable to maintain that momentum and began to plunge. From June 9 to 14, GTBIF saw a small pickup negotiation that was short lived.
However, at the end of the month, GTBIF stock started to see a stronger rally before trading began in July. When trading started in July, GTBIF stock was still able to maintain its upward push in the first 2 weeks of the month. Since then GTBIF stock has plummeted and currently, in August, GTBIF has started to see better negotiation.
GrowGeneration Corp. is one of the few marijuana companies with intrinsic value to the entire cannabis industry. The company, through its subsidiaries, owns and operates hydroponic and organic gardening retail stores in the United States. In the latest company news, they announced that they would be participating in a new business venture. The company will acquire HGS Hydro, the third largest chain of hydroponic garden centers in the country. This transaction should be finalized before the end of fiscal 2021.
Words from the CEO of GrowGen
“We are delighted to add HGS Hydro to our store portfolio before the end of the year, with its impressive leadership and sales 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 in sales of medical and recreational cannabis. Said Darren Lampert, CEO of GrowGen. “We look forward to leveraging the experience of HGS Hydro as we continue to expand our business footprint. This acquisition represents our continued focus on purchasing “top quality” hydroponic farms in the United States and strengthening our management team with seasoned industry veterans. “
GRWG Stock Market Update and Performance
Since the start of June, trading in GRWG shares has been incredibly volatile. The business has had its ups and downs in the market during this time. Since the beginning of June, GRWG shares have been trading with a decent market position. Towards the end of the month, GRWG’s stock was able to see a nice increase before the start of July. From June 15 to June 30, GRWG stock posted a good 20% jump in trading.
Prior to July, GRWG’s share continued to rise for most of the first week of trading. After July 6, GRWG shares started to fall in the market. This decline in trade continued throughout July. Currently, in August, GRWG stock is striving to achieve a better market position and rebuild its lost momentum in the market,