Could those marijuana stocks be what you are missing in 2021?
August 10, 2021
6 minutes to read
This story originally appeared on MarijuanaStocks
2 marijuana stocks investors might want to watch out for in August
Marijuana stocks are always feeling the impact of the upward and downward trading in the market. With this volatile stock, investors are able to find the best marijuana stocks at lower prices. It is the name of the game to buy and sell high when you invest in all stocks. But especially with cannabis stocks since mid-February, the sector has been trading at a lower average.
Now some believe that in the near future the industry will grow again. Part of the problem with this is that no one knows when or what will be the catalyst for increasing trade in the sector. In August, many cannabis companies are preparing to publish their profits. Now, this may not be the reason for a steady rise in the industry’s average trading level. Still, it can lead to much needed upward trading for certain marijuana stocks.
The current state of the cannabis industry is one of continuous growth and innovation. In the last year alone, not only was a record amount of revenue achieved, but more and more states voted in favor of legality. With more states legalizing, it will add more value, not only with more money, but by pressuring Congress to enact federal cannabis reform. In addition, more and more marijuana companies have expanded their businesses through mergers and acquisitions.
Outside of the market, growth has been unstoppable, prompting more and more people to invest in legal marijuana. But with the way the market has invested in marijuana stocks, it can be a tricky investment for some. However, there is no risk, no reward and if executed correctly there is a lot of money to be made with cannabis stocks. Just be sure to do your research before you start buying marijuana stocks in 2021. Below are 2 companies to consider for your August 2021 watchlist.
Best Marijuana Stocks For Your Watchlist 2021
- HEXO Corp. (NYSE: HEXO)
- Aurora Cannabis Inc. (NASDAQ: ACB)
[Read More] The best marijuana penny stocks to buy this week? 2 for your list in August
HEXO Corp. through its subsidiaries, produces, markets and sells cannabis in Canada. It offers dried cannabis under the Time of Day and H2 lines; Elixir, a line of sublingual mist products made from cannabis oil; and Decarb, an activated powdered product of finely ground cannabis. The company offers its products for adult and medical use under the HEXO brand. In early July, the company released information about an update on the acquisition of Redecan.
“Redecan has the best consumer loyalty in Canada, an impressive market share and leading products in key categories. Today, we are delighted to finally share additional financial information with HEXO shareholders, ”said Sébastien St-Louis, CEO and co-founder of HEXO.
“Redecan’s historical financial statements demonstrate exactly what we already knew: Redecan is one of the fastest growing limited partnerships in Canada with positive operating income, impressive margins, reduced operational efficiency and solid income. Once completed, the acquisition will further strengthen our leadership position in the Canadian cannabis industry, strengthen the company as we seek to become one of the world’s three largest cannabis product companies, and put us firmly on the path to a positive BPA.
HEXO Stock Market Update and Performance
In the last 2 months of trading HEXO shares until recently, this has not been the best marijuana stock to watch. Since the beginning of June, the stock of HEXO initially looked good. But shortly after the first week of the month, HEXO stock began to experience a drastic drop in trading.
Essentially, the last 8 weeks from June to July were a loss in the market. In July, HEXO shares continued to decline without bullish momentum. Currently, in August, things started to change a bit for the HEXO stock. Today’s HEXO stock is rising slightly in the market, but shareholders are still watching with caution.
Aurora Cannabis Inc.
Aurora Cannabis Inc. at one point was one of the largest stocks of marijuana in Canada to buy. On the Canadian side of the industry, Aurora was once held in very high regard. The company produces and distributes medical cannabis products around the world. It is vertically integrated and horizontally diversified across various segments of the cannabis value chain.
This includes engineering and facility design, cannabis breeding, and genetic research. In addition to production, derivatives, high value-added product development, home cultivation, wholesale and retail distribution. The company produces various strains of dried cannabis, cannabis oil and capsules, as well as topical kits for medical patients.
In the latest company update, they announced the appointment of a new independent director. The new director will be none other than Theresa Firestone. This is a new director mandate which brings the Board to nine members, seven of whom are independent.
Words from the president of Aurora Cannabis
Ronald Funk, President of Aurora Cannabis, said: “We are delighted to welcome Theresa to our Board of Directors. She brings us extensive expertise in healthcare and pharmaceutical management, global business restructuring, new business development and a proven ability to lead and manage change. His experience and well-defined skills will be invaluable to us as we execute our strategic growth plans while managing costs more effectively. We look forward to benefiting from his many contributions to Aurora.
[Read More] 3 Best Canadian Marijuana Stocks for Your Watchlist in 2021
ACB Stock Market Performance and Update
Since the start of June, ACB stock has looked a bit volatile but has still been able to maintain a decent market position. During the first 9 days of June, ACB stock showed bullish movement in the market. After the 9th, much of that momentum started to wear off. With the momentum for ACB stock starting to soar, upward trading for the company took place. Now, even with a small rebound at the end of June, ACB stock continued to decline in July.
Looking at July 7-12, it looked like ACB stock was about to move up in the market. But this was not the case because the company was not able to maintain this rise and once again to continue its descent into the market. At the end of trading, ACB has yet to resume in August. However, with more time until the end of the month, anything can happen with this stash of Canadian marijuana to watch out for.