2 Marijuana Stocks To Watch This Month Are You Ready To Invest?
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Will These Marijuana Stocks Be Top Gainers In June?
So far marijuana stocks have still been performing well during the first week of trading in June. Even though it’s still the beginning of a new month momentum seems to continue to build. During the downtrend over the last few months, people were on the hunt for the best marijuana stocks to buy. Right now shareholders are left waiting for the cannabis stocks to rise a bit more.
This is because investors purchased shares at great entry points but those cannabis stocks dropped even further in price. Now this leaves people even more skeptical about cannabis stock investing. As well as shareholders are now left waiting to see a big enough recovery before they can see a decent return.
Yet with more progress in the cannabis industry analysts hope, this will help increase the rise in trading for marijuana stocks. Furthermore, as the sector continues to climb some pot stocks are still trading solid entry points. What this essentially means is even as the sector climbs there is still time to find valuable marijuana stock to buy.
The future of the cannabis industry is depicted to be one of consistent growth and innovation. With the push for better cannabis legislation, some feel this will be the missing ingredient for the sector to reach its full potential. Meaning with more legal states creating their own cannabis markets brings the possibility of more economic stability.
Furthermore with the possibility of federal reform means certain ventures can now be executed that were once federally illegal. From November 2020 to now in June 2021 much of this above progress has taken place. Currently more than half of the United States has a legal cannabis market. As well as top politicians fighting to legalize marijuana on a federal level hopefully this year.
Marijuana Stocks To Watch This Week
Jushi Holdings Inc.
Jushi Holdings Inc. is still one of the many marijuana stocks working to reach better trading. Even dropping in February JUSHF stock was showing volatile market action up until April. Shortly after heading into May JUSHF stock started to descend even further in the market. Now from this point, it’s been tough for Jushi to build back any previous momentum.
Yet during May, there have been minor increases in trading but nothing that the company was able to sustain. Currently in June JUSHF stock is still having trouble reaching a better overall market position. However with the start of a brand new month its possible to see the company start to recover in June.
In recent news, the company released its Q1 financial earnings. During this time Jushi Holdings generated total revenue of $41.7 million which is an increase of 29.0% sequentially. Also, Jushi had an Adjusted EBITDA1 of $3.0 million
Words From The Company
“We continued to achieve solid operational and financial performance in the first quarter of 2021,” stated Jim Cacioppo, Chief Executive Officer, Chairman and Founder of Jushi. “In the first quarter, we delivered a substantial increase in both revenue and gross profit, and reported positive Adjusted EBITDA for the third quarter in a row. We also solidified our balance sheet through two successful equity transactions, which resulted in gross proceeds of approximately $86 million.”
Village Farm Inc.
Village Farm Inc. is one of the biggest and longest-operating greenhouse growers in North America. The Company leverages years of experience in large-scale, low-cost intensive agriculture. Which they do as a vertically integrated produce supplier. The intent is to pursue high-value, high-growth plant-based Consumer Packaged Goods opportunities in the cannabis industry.
The company was one of the few cannabis stocks that were able to recover better than others this past month. In the first week of May VVF stock was still holding a better market level than later in the month. However, right after the 10th of May VVF stock started to drop even more. From this point, VVF stock has slowly started to pick back up some of its lost momentum.
From May 12th to the 28th VFF stock climbed back up by 23 percent. If you look from the 12 of May to now VFF stock is currently up 34 percent. This is a reassuring sign to some investors and shareholders that VFF stock has the potential to sustain its current trading momentum.
Yet due to how volatile and unpredictable cannabis stocks trade there is no concrete way to know how long this upward push will last. In recent news, Village Farm announced that the Toronto Stock Exchange has accepted a notice filed by the Company of its intention to make a normal course issuer bid.
Words From The CEO
“The implementation of this NCIB does not in any way reflect a change in Village Farms’ growth plans or opportunities but simply provides the Company with a potentially attractive opportunity to prudently deploy some of our available capital,” said Michael DeGiglio, CEO, Village Farms.