Marijuana Stocks To Watch On The Final Trading Day Of May 2021
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Marijuana Stocks To Add To Your June Watchlist
Marijuana stocks are beginning to show signs of consistent upward trading. This current momentum that marijuana stock has is being watched closely. This due to the last 3 months of trading and how the entire cannabis sector dropped. Even when small recoveries happened they were too short to call it a recovery let alone to make a profit.
This has created a bit of uncertainty for marijuana stocks investors. Yet it has been essentially a full week of an increase in trading. This has led to some investors feeling a bit more confident before heading into June. Back at the start of May marijuana stocks were a bit late on climbing back up in the market.
However, from the 2nd week on cannabis stocks started to show a bit more volatility. This volatile trading led to a pick up in momentum for the sector which eventually led to the current rise we are seeing now. As June soon approaches investors are hoping to see this uptick in trading continue even further.
Beyond just marijuana stocks the industry is still growing at a fast rate. Yet the big concern for the future of the cannabis industry is better legislation mainly federal cannabis reform. If legislators can end cannabis prohibition in the united states it will allow for more opportunities to happen that were once illegal.
The progress of the cannabis industry is consistently breaking ground and reaching new limits. For instance, more than half of the United States currently has legalized cannabis in some form with more states soon to go legal as well. This will only add more value and possibilities to those who are looking to get involved in the cannabis industry. So as a new month will soon be starting so will the chance to see more gains.
Marijuana Stocks To Watch Right Now
Sundial Growers Inc.
Sundial Growers Inc. is involved in the production and marketing of cannabis products for the adult-use market in Canada. It produces and distributes inhalable products, such as flower, pre-rolls, and vapes. Back on May 11th, the company released its first-quarter 2021 financial operational results. During this time the company achieved its first quarter of positive adjusted EBIDTA in Sundial’s history. This came in at $3.3 million compared to an adjusted EBIDTA loss of $5.6 million in the prior quarter.
“We are pleased to announce Sundial’s first-ever quarter with positive earnings from operations and adjusted EBITDA,” said Zach George, Chief Executive Officer of Sundial. “This result reflects our continued efforts to build a platform targeting attractive capital deployment opportunities while we focus on the continued improvement of our cultivation practices in an immature and rapidly changing industry. The sustained decline in Canadian cannabis flower pricing has prompted Sundial to liquidate certain inventory in the first quarter and we are now limiting the offering of discount products in markets where we view the economics as neither attractive nor sustainable.
In the last month of trading SNDL stock has been working to build up its trading momentum. Like many other cannabis stocks, SNDL stock was not able to reach better trading. As well the company was also impacted by the recent downtrend. Yet since the 24th of May SNDL stock has begun to slowly rise again. Moving into June hopefully, investors see a bigger pick up in trading for SNDL stock.
Neptune Wellness Solutions Inc.
Neptune Wellness Solutions Inc. operates as an integrated health and wellness company. It builds a portfolio of lifestyle brands and consumer packaged goods products under the Forest Remedies and, Ocean Remedies. As well as Neptune Wellness, Mood Ring, and OCEANO3 brands. In recent news, the company announced the launch of PanHash™ in Quebec.
Michael Cammarata, Neptune’s President and Chief Executive Officer, stated, “Entrance into Quebec, one of Canada’s most populated provinces, is an important milestone in the expansion of our cannabis consumer packaged goods product lines. Our team remains committed to working closely with growers and distribution partners who share the same core values of sustainability, responsibility, and excellence to continue providing consumers with the safest and highest quality products available.”
Now on the market side of the company NEPT stock has started to pull back in the market. Like most marijuana stocks in the last 3 months, NEPT stock has had to fight for every piece of momentum they’ve had. From May 13th to the 26th NEPT stock is currently up 19 percent. Before this small spikes in trading did occur but it was not sustained to where a real recovery could happen.
Yet it still will take time for investors to regain confidence with investing further in cannabis stock. However, this is a good start with how NEPT is trading but the question remains can it continue. Now as June is quickly approaching investors and shareholders are keeping watch on NEPT stock to see more momentum will build.