Marijuana stocks are still showing signs of upward momentum. As many analysts said June would be a time of better trading in the market. However, even with an increase in trading a good amount of volatility has taken place as well. This is essentially how the trading in the middle of May was and it has continued into June.
The main goal for shareholders is to make a return on their investments. Much of this is purely a waiting game due to how low the sector has dropped in the last 3-4 months. Even with many marijuana stocks beginning the path to recovery a bigger climb in trading would need to take place. So what this creates is a situation where there is still time to get in on the action.
Meaning there is still time to find top marijuana stocks to buy. However many investors are just now finding a bit of renewed faith when it comes to buying cannabis stocks. Its been a tough time for the overall sector these last several months. But with much more progress taking place, it’s only adding to the current push the sector is having. So far 2021 has been a time of innovation and continuous growth for the entire cannabis industry.
Businesses and companies are expanding and from a political stand better legislation is on the way. In addition to that more states are pushing to legalize marijuana in some form. This will only add more value and opportunity to people who want to be involved in those legal states. As traders reach the halfway point of June it’s still a game of patience as the sector rises further. Just remember to do your homework before investing and take your time when looking for cannabis stocks to buy.Marijuana Stock Watchlist For This MonthThe Valens Company Inc.
The Valens Company Inc. engages in the development and manufacturing of cannabinoid-based products. The company operates through Cannabis Operations and Analytical Testing segments. The Cannabis Operation segment provides extraction, post-processing, and white label manufacturing. Which is done under the standard processing and standard cultivation license issued by Health Canada. VLNCF stock has been on the rise since March.
In fact even while the majority of the sector was falling VLNCF stock was not impacted as badly as most marijuana stocks. From March 8th to the 16th VLNCF stock saw a rise in trading that made for a 30 percent gain. Pushing forward the rest of March the company continued to reach higher market levels. Trading from March 17th to the 31st of the month VLNCF stock saw an increase of another 30 percent.
At the start of April, the company furthered its climb until the 5th that’s when VLNCF stock faced some pullback over the next week or so. It wasn’t until the 14th of April when the company started to rise once again. So from the 14th to the end of the month VLNCF stock hit gains of 50 percent. After April the company was still pushing up in the market. Going from $2.98 on the 3rd of May to $3.30 on the 10th. This led to an uptick of 10 percent to start the month.
After this run, the company started to lose some of its momentum and began to dip. From May 13th to currently in June VLNCF stock is now up by 8 percent in the market. With how well the company has been performing The Valens Company still holds a place as a top marijuana stock to watch in 2021.The Scotts Miracle-Gro Company
The Scotts Miracle-Gro Company is only involved in the cannabis industry through its subsidiary The Hawthorne Gardening Company. Hawthorne Gardening is a hydroponic growing company that specializes in cultivation supplies geared toward the legal cannabis industry.
Over the last month, SMG stock has yet to see a recovery in trading despite showing positive results from the company’s business operations. In recent news, the Hawthorne announced the support for leading social justice organizations. Which is being done through the Hawthorne social justice fund within The Scotts Miracle-Gro Foundation.Words From The Company
“Our commitment to being a good company is what drove us to create The Hawthorne Social Justice Fund within The Scotts Miracle-Gro Foundation. As we announced earlier this year, the fund was established with an initial investment of $2.5 million to support non-profit organizations with cannabis social justice missions,” said Chris Hagedorn, Executive Vice President and Division President of Hawthorne. “This fund deepens Hawthorne’s commitment to spark change as policy reform advances across the country and states address the legacy of racial inequity tied to cannabis prohibition. It is our promise to support programming that helps communities and individuals who have been negatively affected by the long standing and systemic inequality related to cannabis prohibition in the United States.”