Cannabis stocks tanked last year, and are down even more so this year. However, there are a few companies that have been able to buck the trend. CannPal, an online platform helping doctors and patients order marijuana for clinical purposes, Inc., a cannabis company focused on developing new products for blockchain technology, and Hempcoin, a cryptocurrency focused on the medical industry, are three stocks to keep an eye on in the second half of June.
Since the first recreational marijuana sales in Colorado in 2014, marijuana stocks have proved to be the best growth story in the entire US cannabis industry. Based on the recent recommendations from stock analysts and the recent investor activity, there are two marijuana stocks to watch in the second half of June 2021.
Marijuana stocks are a hot commodity for investors, as the legal industry continues to explode in the US and Canada. The industry is worth $7 billion, and the number of cannabis companies is increasing by the day. In fact, there are 573 marijuana companies already in the US, with a whopping 200 of them in Canada alone. Among the most exciting companies to watch is Cronos Group Inc. (CRON), a global leader in the cannabis space, which recently announced it was involved in a multi-million-dollar deal with Canadian cannabis grower and producer Canopy Growth Corporation (CGC). This deal is a big step in the right direction for Cronos as it prepares for a potential listing on the Toronto Stock Exchange.. Read more about cbd penny stocks to watch and let us know what you think.The 2 best marijuana stocks to put on your list for June 2021
The current market for marijuana stocks has begun to improve over the past month. Cannabis stocks were trading lower in early May. However, as the second week of trading approached, marijuana stocks began to show signs of volatility.
In this case, there has been more action in the market at this point since mid-February. After 2. Marijuana stock prices began to fluctuate rapidly in the first week of May, and marijuana stocks struggled to maintain trading momentum in the second half of May.
Still, the sector began to show more consistency in the market’s rise last week and in the first half of May. This increase in business activity continued into the following month and the sector as a whole now appears to be in better shape.
June started out much better for marijuana stocks. Many companies report results and expand through mergers and acquisitions. These factors alone have played a role in the growth of the industry. Analysts think there will be an even bigger jump at some point.
Some think it could happen as early as this month. However, given the unpredictability of the market, it is difficult to be precise. While the industry continues to rise, there is still time to find the best marijuana stocks to buy. Although investors treat the sector with some caution, they continue to include cannabis stocks in their portfolios.
It is now a case of wait and see, as most investors are waiting for a big enough rally to take their profits. Additionally, it looks favorable for the cannabis industry, with the possibility of improved cannabis laws and more states moving towards legal status. Here are two marijuana stocks to keep an eye on for the rest of the month.
Marijuana stocks to keep an eye on this month
- Sundial Growers Inc. (NASDAQ:SNDL)
- Greenlane Holdings, Inc. (NASDAQ:GNLN)
Sundial Growers Inc.
Since the 2nd. During the week of May, Sundial Growers Inc. made further progress in the market. SNDL’s share price rose between 13 and 27. May was up 23%. Meanwhile, some investors who bought shares in early May have been able to make significant gains. It also showed upside potential for future trading. From the end of May to the 3rd. In June, the share price of SNLD increased by 32%.
This rebound in recent trading shows that even though SNDL shares began with a decline, they are capable of bouncing back. Last month, the company announced its financial and operating results for the first quarter of 2021. During this period, the Company’s gross cannabis sales reached $11.7 million, down 30% from the previous quarter. In addition, for the first time in Sundial’s history, the Company achieved a positive adjusted EBIDTA of $3.3 million. This compares to an adjusted EBIDTA loss of $5.6 million in the previous quarter.
Words from
We are pleased to announce Sundial’s first quarter of positive operating and adjusted EBITDA results, said Zach George, Sundial’s Chief Executive Officer. This result reflects our continued efforts to build a platform focused on attractive capital allocation opportunities while focusing on continuous improvement of our agricultural practices in an immature and rapidly evolving industry.
The continued decline in the price of cannabis flowers in Canada prompted Sundial to liquidate some inventory in the first quarter and we are now limiting the supply of discounted products in markets where we believe the economics are not attractive and sustainable. We have no intention of increasing production volumes without ensuring profitability or maintaining market share at all costs. We have made progress in improving harvest results and continue to focus on best practices to achieve high potency, yield and terpene results, but our work is far from done.
Greenlane Holdings, Inc.
Greenlane Holdings, Inc. has received a lot of attention in recent months. This is largely due to the merger with cannabis company KushCo Holdings Inc. Last month, Greenlane announced that it had met a key legal condition for the proposed merger.
The move comes at a time when other major cannabis companies are doing the same. Let’s hope it will eventually produce the results both sides have been waiting for. A look at recent trading shows that GNLN shares have not received any upward momentum recently. For most of May and June, LNG traded continuously lower.
Nevertheless, the GNLN share experienced a moment of bullishness at the end of May and during the first week of June. From 21 years of age. From May to 9. In June, GNLN shares rose 20%. Eventually, the company began to decline again and has shown no signs of an upward trend to date. As the best half of the industry continues to grow, we expect some of that commercial momentum to reach LNG supply.In an effort to provide a safe alternative to the current drug culture that is sweeping the nation, we have compiled a list of companies that focus on the production of medical marijuana. Just as these companies are on the cusp of changing how we look at the world, we will be providing the latest updates on their progress throughout the second half of June 2021.. Read more about mjna penny stock and let us know what you think.
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