Here’s Why These Marijuana Stocks Are Good For Your Portfolio
Why Are These Marijuana Stocks Getting More Hype?
You Should Know About These Marijuana Stocks In 2021
Currently, marijuana stocks are facing a drop in trading which is a double-edged sword. To start on the positive side when prices drop it’s another good time to find top marijuana stocks to buy. The negative side is shareholders not only have to wait for things to pull back up but it brings back that feeling of uncertainty.
From mid-February to the end of April the entire cannabis sector fell. This sector-wide downtrend was a tough time for those who invested in cannabis stocks. As mentioned above it’s always good when you can buy shares at lower prices. But when will these marijuana stocks pull up in the market is another situation in its self.
Because of this current loss of momentum investors are now facing the same caution from the last downtrend. The current progress and success outside of the market have not affected the way cannabis stock trade to a major extent. Right now the entire cannabis sector is trading at a lower average all together. Some analysts feel this lower average won’t last forever and eventually, marijuana stocks will rise back up.
Now the question is if and when that happens will it be consistent or short-lived. However, there are some contributing factors to point out. For starters, if some significant news or moment happens in the cannabis industry it may resonate well for marijuana stocks. Like, let’s say federal reform is finally passed many feel this will cause the entire sector to run.
However, this is not set in stone, as well as not promised, and with many marijuana stocks down shareholders are trying to remain patient. So with a down sector chose your investments wisely to have the best chance at seeing profitable gains in 2021. Below are 2 marijuana stocks to watch right now.
Marijuana Stocks To Watch Right Now
Village Farm Inc.
Village Farm Inc. together with its subsidiaries, produces, markets, and distributes greenhouse-grown tomatoes, bell peppers, and cucumbers in North America. It operates through three segments: Produce Business, Energy Business, and Cannabis and Hemp Business. Over the last several months VFF stock has been trading at lower levels but has still seen some good movement.
At the start of May, VFF stock was trading down and losing its momentum. It wasn’t until the middle of May when the company started to pull back up in the market. From May 13th to the 28th VFF stock went no a nice run that generated a 23 percent gain in trading. Moving into June VFF stock was able to sustain its upward climb for most of the month.
Even with a small dip in the last few days of June overall VFF stock held a decent market level for the month. For July trading has started to drop a bit but currently, the company is working on reaching better trading heading into August. At the start of July, the company released news about receiving a marijuana cultivation license amendment for Delta 2 greenhouse. With this, the company could up its production capacity by 50 percent.
Words From The Company
“As many licensed producers in Canada scale back operations, we are proud and excited to be significantly expanding production to meet the expected continued growth in Pure Sunfarms’ retail branded sales, driven by Pure Sunfarms’ leading brand market share in dried flower against the backdrop of the overall growth in the Canadian market, as well as additional opportunities that we are pursuing both within Canada and in international markets,” said Michael DeGiglio, CEO, Village Farms. “Pure Sunfarms has delivered three consecutive quarters of 20 percent or greater growth in retail branded sales, and during the first two months of the second quarter of 2021 was once again the top-selling brand of dried cannabis in Canada’s largest provincial market, as it has been in every quarter since it launched its retail branded products in the fourth quarter of 20191.”
Tilray Inc. is said to be one of the more favored Canadian marijuana stocks to watch. The company engages in the research, cultivation, production, and distribution of medical cannabis and cannabinoids. The company offers cannabis-lifestyle and consumer packaged goods and hemp-based foods and alcoholic beverages.
It offers medical cannabis in extracts and dried flower forms; and cannabis extracts. Since the 2nd week of May TLRY stock has been able to catch a wave of momentum. From the 13th of May to the 28th TLRY stock closed out the month with an increase of 21 percent.
Moving into June the company was able to sustain its upward push for the first 9 days of the new month. TLRY stock from the 1st of June to the 9th was able to further their run. During this time the company generated gains of 26 percent although after TLRY stock began to lose its momentum.
The rest of June TLRY stock was hit with an overall drop in trading even with a small uptick later in the month. For trading in July, TLRY stock has continued to fall even more. With a new month of trading almost here some feel August will bring it with better trading for this Canadian marijuana stock to watch in 2021.