2 Marijuana Stocks To Watch As The House Votes On Federal Cannabis Reform
2 Marijuana Stocks To Watch For More Trading Momentum In 2021
These Marijuana Stocks May See A Rise In Trading With Upcoming House Vote
It seems that marijuana stocks in the last few days of trading have seen some nice upwards gains. Yet in more recent trading many marijuana stocks are seeing a pullback in the market. This could be due to the recent introduction of 2 pieces of cannabis legislation. Well for starters recently a defense bill was passed by the House. Attached to this defense bill was a cannabis banking measure. The SAFE Banking Act would protect banks and credit unions against federal regulators. Now this bill is off to the Senate. Another bill that on the 29th of September was being voted on by the House.
This particular bill would aim to legalize cannabis on a federal level. Now some of this pullback could be due to some uncertainty as to whether the House will pass this cannabis bill. Yet back in 2020 a similar bill was passed by the House but was shot down in the Senate. So with this current dip in trading opens up another chance to find top marijuana stocks to buy. Right now many investors are adding some of the cannabis stocks to their investment portfolios. This so they can be better prepared for the day the sector sees another significant jump in trading.
Furthermore, while most pot stocks still show to be a bit volatile outside of the market the industry is flourishing, Due to how inconsistent cannabis stocks have been trading identifying the best-performing companies as far as business is a good metric to use. Meaning when looking to buy cannabis stocks companies showing the most progress is a good way buying system to use. If a cannabis company is showing growth and is profitable you may want to invest in it. Below are a few cannabis stocks to watch for better trading.
Marijuana Stocks To Watch In 2021 For Better Trading
Harvest Health & Recreation Inc.
Harvest Health & Recreation Inc. together with its subsidiaries, cultivates, processes, sells and retails inhalable, ingestible, and topical cannabis products in the United States. In the last 4-6 weeks the company has released some important news updates. Back at the start of September, the company announced a planned divestiture of Florida license. Yet the closing of the divestiture of the Florida license remains subject to the customary satisfaction of closing conditions.
These terms involve regulatory approvals and the closing of the planned acquisition of Harvest by Trulieve Cannabis Corp. Next, the company announced on September 14th that it has opened its 12th Florida dispensary in Jacksonville. Following this release Harvest Health & Recreation has continued to open up more dispensaries and did so with its 13th Florida location in Kissimmee. Yet again Harvest Health & Recreation was able to open up another retail cannabis storefront in Port St. Lucie Florida.
Words From The Company On The Recent Update
“We are thrilled to open our fourteenth Harvest location in Florida, one of the fastest growing medical markets in the U.S.,” said Chief Executive Officer Steve White. “We look forward to serving patients and providing quality products at this new location in one of our core markets.”
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Cansortium Inc. through its subsidiaries produces and sells medical cannabis in the United States. The company engages in cultivation, processing, retail, and distribution activities. In more recent news from the company back on August 24th, the company announced its Q2 financial results. During this time Revenue increased 24% to $16.5 million compared to $13.2 million.
As well the company had an adjusted gross profit2 increased 24% to $10.7 million or 65.1% of revenue. This is compared to $8.7 million or 65.5% of revenue. As well the company’s Florida revenue increased 22% to $14.6 million compared to $12.0 million. Adjusted gross profit2 increased 24% to $10.7 million or 65.1% of revenue, compared to $8.7 million or 65.5% of revenue.
Words From The Company
“We continued to drive growth and profitability in our key markets during the second quarter, as reflected by another month of record sales in May,” said CEO Robert Beasley. “Our continued focus on providing differentiated, high-quality flower and wellness products has been well received by our patients. Additionally, we are now offering several boutique strains that have never been sold in the Florida market.”
CNTMF Stock Performance And Market Update
In the last month of trading CNTMF stock has been on a bit of a volatile trend. At the start of September, CNTMF stock was holding a solid market level until the 3rd. From this point, the company started to lose a bit of its market momentum. This led the company to see a drop in trading. Yet on the 14th of the month CNTMF stock started to rise once again. Although the company saw a small increase in trading it eventually began to see another volatile dip. Currently CNTMF stock is back on the rise as more momentum may soon take over the cannabis sector.