These Marijuana Stocks Are Gaining More Attention This Month
Marijuana stocks are showing a bit more volatility in recent trading as prices are beginning to fluctuate. In yesterday’s trading, much of the sector was facing a bit of pullback. This allowed for more people to find top marijuana stocks to buy. Right now the cannabis sector is still recovering from the recent downtrend that just passed. Some cannabis companies are still feeling the impact of that drop in trading.
Although as far as business and operations much of these publicly traded cannabis companies are performing well. Some cannabis companies have even joined forces through M&A. This has created what is being called super cannabis companies. In addition to that more states have passed some form of cannabis legislation. With more states voting to go legal it will only add more value to the overall growth of the cannabis industry.
Back in 2020, the U.S. cannabis industry generated over $17.5 billion in legal cannabis sales. With 2021 just getting started many analysts feel this year will bring even more revenue than 2020 for legal cannabis sales. As well there is still the fight for legalizing cannabis on a federal level. Within the legal cannabis industry, the biggest obstacle has been better legislation. For quite some time now the biggest hurdle through all this progress is ending cannabis prohibition.
With federal cannabis, reform enacted it will allow for more ventures to take place that were once federally illegal. As well some believe it may help to drive some potential momentum for marijuana stocks. Over the progress and future of the cannabis industry looks to be a promising one. Just make sure to do your research before any investments are made. Below are a few marijuana stocks to consider if you are looking to invest in cannabis in 2021.
Marijuana Stocks To Watch This Month
TerrAscend Corp. is a cannabis company that cultivates, processes, and sells medical and adult-use cannabis in Canada and the United States. The company also produces and distributes hemp-derived wellness products to retail locations. In addition to manufacturing cannabis-infused artisan edibles. The company also operates three retail dispensaries under the Apothecarium brand name in California and Pennsylvania.
Over the last several months TRSSF stock has been working on sustaining better trading in the market. Right after April TRSSF stock was holding a decent market position most of May. During the month of May, the company was a bit volatile but kept its momentum going. When the start of June came TRSSF stock started to lose its trading momentum. This loss in momentum caused the company to drastically drop in trading.
Yet it wasn’t until the last week of trading in June when TRSSF stock started to climb back up. From June 22nd to the end of the month the company shot up in trading by 20 percent. Since then the company has slightly dipped back down but has slowly started to rise still holding a decent market position. Back on May 19, the company released its first-quarter net sales of $53.4 million. In addition to having an Adjusted EBITDA of $22.6 million.
Words From The Company
“In Q1, we drove strong revenue growth, margin expansion and cash generation by continued focus on operational excellence, disciplined cost control and effective allocation of capital,” said Jason Wild, Executive Chairman of TerrAscend. “I’m pleased with the strong results our team has delivered to begin the year.”
Mr. Wild added, “Looking ahead to the rest of the year, there are strong operational tailwinds helping our business as we continue to see the benefits from recently completed cultivation expansions, and the addition of retail locations in New Jersey, Pennsylvania and Maryland.”
Jushi Holdings Inc.
Jushi Holdings Inc. is a vertically integrated cannabis company, engages in the cultivation, processing, retail, and distribution of medical and adult-use products. It focuses on building a portfolio of cannabis assets in various jurisdictions in Pennsylvania, Virginia, Ohio, Illinois, California, Nevada, and Massachusetts.
In the last 8 weeks of trading JUSHF stock has been working on building back its lost momentum. The initial start to May JUSHF stock had a big drop in trading from 3rd to the 13th. Since that time the company has had some small pick-ups in trading but nothing like what was had like back at the end of April. Moving in June JUSHF stock faced another drop in trading.
This pattern has continued even currently in July. Yet some shareholders feel better trading is soon to come for this marijuana stock to watch in 2021. In the company’s most recent news it announced Frankline Bioscience OH, LLC has commenced operations at a state-of-the-art Ohio processing facility.
Words From The Chief Executive Officer, Chairman and Founder of Jushi
“By combining the capabilities of the new state-of-the-art processing facility with our recently announced cultivation facility acquisition, Jushi will be building scale and moving one step closer to being vertically integrated in the rapidly growing Ohio medical cannabis market,” said Jim Cacioppo, Chief Executive Officer, Chairman and Founder of Jushi.