2 Marijuana Stocks To Watch The Last Week Of May
2 Marijuana Stocks Are Moving Up In The Market
Will These Marijuana Stocks Continue to Rise Next Week?
Many marijuana stocks have been a bit more volatile in the month of May. The entire sector has been working to build more momentum after a 3-month downtrend. A good amount of investors have been patient in regards to take profits. Even though some marijuana stocks have begun to climb some are still facing trouble in the market. Some of these cannabis companies do present possible buying opportunities while the other half may be better to pass on.
Now always remember to do your research before investing. At times the cannabis stocks get undervalued due to a lack of market performance. As well the operations of a company may outperform the market. From this, there are days even small moments when some undervalued cannabis stocks perform well in the market. As well the cannabis sector is quite volatile meaning the price of marijuana stocks can rise or drop frequently.
So just when you think a company is beaten down they can shoot up and surprise shareholders. With how low many cannabis stocks were trading many investors are holding out for a nice payday. However, even with the sector showing a slight recovery, it’s not at a high enough level where some analysts feel it will soon be. With many cannabis companies releasing earnings the positive results have resonated well for some marijuana stocks.
Marijuana Stocks And Cannabis Industry Updates
Yet as mentioned above investors will need to see a bigger climb before feeling comfortable with taking profits. Right now there is still uncertainty in the sector as trading is not where it needs to be even with small upticks. With one more week left in May, shareholders are preparing for June to look better than the month before. The cannabis stocks to watch below may offer some hidden value heading into next month.
Marijuana Stocks To Watch Next Month
MediPharm Labs Corp.
MediPharm Labs Corp. has been on one of the few marijuana stocks to recently build up more market momentum. In recent news, the company has released its first-quarter 2021 results. As well as a strategic update. During this time the company Achieved its first sales to STADA. In addition to extra medical cannabis products to launch in Q2 2021.
Next, the company established an agreement with Malta-based Pharma MT. This led to suppling premium, GMP certified, finished dose cannabis oil for patients. With it, expanded global customer base for turn-key manufacturing and distribution services to nine countries.
“We commenced 2021 focused on establishing our presence as a pharmaceutical company while ramping up and significantly growing our international sales,” said Keith Strachan, President, and Interim CEO, MediPharm.“We achieved several important milestones including initial sales of GMP-certified medical cannabis products in Germany under our long-term partnership agreement with STADA Arzneimittel AG, a market leader in consumer healthcare and generics, and our first medical cannabis exports to Peru. Demand signals for our MediPharm cannabis oils were strong across all distribution channels in Canada. We made strong progress actively managing our cost structure which led to a 30% expense reduction, and we remain focused on returning to profitability.”
In the last week of trading MEDIF stock has started to rise in the market. From February to now the MEDIF stock has lost a lot of ground in the market. But with a slight uptick to close the week MEDIF could possibly see more action the last week of May.
The Valens Company Inc.
The Valens Company Inc. is one of the leading manufacturers of cannabis products. Over the last month, the company has announced some important company updates. For one this past month, the company announced its official submission to uplist to the Nasdaq. The Company currently expects that Nasdaq will make a decision on the Company’s application by the end of June 2021.
Next up is the company that recently announced the appointment of Sunil Gandhi as its Chief Financial Officer. As well as Adam Shea as its Chief Commercial Officer. These new positions became effective back on May 17, 2021. Last The Valens Company announced it will continue its domestic expansion with entry into New Brunswick’s cannabis market.
“Our expansion into New Brunswick marks the third regional market we have entered since the beginning of 2021– a milestone we are incredibly proud of,” said Tyler Robson, Chief Executive Officer, Co-Founder and Chair of The Valens Company. “While we recently announced our first foray into the CBD market in the US, we also remain committed to continuing our growth here at home in Canada as we continue to increase sales channels expected to drive revenues and national market share. We are focused on leveraging our expanding domestic distribution network to bring more Canadian consumers a range of new and unique products we expect to launch with our partners throughout the summer and beyond.”