2 Marijuana Stocks You Need To Know About This Month
Free Book Preview Cannabis Capital
2 Marijuana Stocks To Keep Your Eyes On This Month
As marijuana stocks start to see more momentum the sector as a whole is starting to see a better recovery. In the last few months of trading, many marijuana stocks to watch have begun to show a bit more volatility. Yet with this volatile action, has led to some cannabis companies performing better in the market. As well as just plainly showing more life than during this past downtrend.
Now even as the sector rises and more cannabis stocks are slowly moving up a bigger increase needs to take place for a full recovery. With just the action that has taken place since the end of April, it has eased some of the fears of current and future investors. During the 3-4 months the sector was dropping it created a lot of uncertainty for investors.
Before mid-February, the sector as a whole was consistently rising. Some cannabis companies during this time even reached new 52 week highs which is huge to see as a shareholder. Gains were being made and things were looking strong market-wise until the second week of February. Now things have started to slowly turn around but as mentioned above a stronger rise needs to happen. This because even when people bought the dip during the downtrend some marijuana stocks dropped even further.
This was a double-edged sword for many people who invest in marijuana stocks. Meaning even though the average cost of the position is down the sector needs to climb past a certain point to see a significant return. Now as the push for federal cannabis reform is in motion the sector has been building up more trading momentum. Below are a few marijuana stocks to watch as they fight to end cannabis prohibition continues in 2021.
Top Marijuana Stocks To Watch Right Now
GrowGeneration Corp. through its subsidiaries owns and operates retail hydroponic and organic gardening stores in the United States. Initially at the start of May GRWG stock was losing its trading momentum and began to drop. It wasn’t until halfway through the month when GRWG stock was able to see its path to better trading. From May 13th to the end of the month GRWG stock saw a nice 23 percent rise in trading. If you were fortunate enough to buy the dips on the 13th you would have made a nice profit before the start of June.
Now for the start of trading in June, the company was able to sustain its trading for about a week and a half into the new month. After the 9th of June, a decrease in market position started to take place. Moving further into June and trading started to look better for GRWG stock. It took towards the end of the month for the company to once again start to recover. Looking from June 15th to the 24th you can see that GRWG stock was able to have a decent uptick in trading. This led to the company having an 11 percent increase in the market.
What was motivating for shareholders is from this point the company has been able to sustain this current upward trading. The 24th to the end of June GRWG stock saw gains of 7 percent. Moving into July GRWG stock was able to keep its rise going for the first week of the month. Looking from June 30th to July 6th GRWG stock started the month with an increase of 7 percent. Yet after this time, the company began to drop in trading. However, with more time left in July, it is possible for this cannabis stock to watch rise once again.
The Scotts Miracle-Gro Company
The Scotts Miracle-Gro Company through its subsidiary The Hawthorne Gardening Company offers indoor and hydroponic growing supplies for the cannabis industry. Now looking back over the last few months of trading and SMG stock has seen better days. Yet as a company, a great deal of progress has taken place for the company. In the company’s last few news releases some good announcements have been made.
Back on June 1st, the company announced it has increased its fiscal 2021 guidance. Which has been led by continued strength in both U.S. consumers and Hawthorne segments. Next in the company’s more recent news, it announced support for leading social justice organizations. As more growth happens for the company it’s possible to see this progress eventually resonate on the market side as well.
Words From The Company
“Our commitment to being a good company is what drove us to create The Hawthorne Social Justice Fund within The Scotts Miracle-Gro Foundation. As we announced earlier this year, the fund was established with an initial investment of $2.5 million to support non-profit organizations with cannabis social justice missions,” said Chris Hagedorn, Executive Vice President and Division President of Hawthorne. “This fund deepens Hawthorne’s commitment to spark change as policy reform advances across the country and states address the legacy of racial inequity tied to cannabis prohibition. It is our promise to support programming that helps communities and individuals who have been negatively affected by the long standing and systemic inequality related to cannabis prohibition in the United States.”