CCHWF - Best Marijuana Stocks To Buy? 2 For This Weeks Watchlist
Will These Top Marijuana Stocks Recover In December?
Many top marijuana stocks are still feeling the impact of the drop in trading. From late November 2020 to early 2021 marijuana stocks were on the up and up. Soon after early 2021 things began to change for the entire sector. U.S. and Canadian marijuana stock began to see a drastic decline in trading. This led to a lot of uncertainty about investing in cannabis stock for the future. But nonetheless, people were still buying marijuana stocks as they were dipping. What caused this initial downtrend and current pullback is the fight to enact federal cannabis reform in the United States.
Pretty much this is the main hurdle that has been tough to get over. Which has essentially led to the big drop and inconsistent trading for the last 9 months. Now even though this has created a nice buying opportunity its comes with some downsides. For instance, the sector’s trading average has dropped. In addition to people feeling reluctant about buying marijuana stocks in 2021. Yet at the same time, the same thing that has led to the fall of marijuana stocks also brings it back up. Meaning when positive news surfaces about federal reform most pot stocks in the sector react positively. So with even more bipartisan support for federal reform once enacted things may go back up.
Marijuana Stocks And The Cannabis Industry
Still the overall progress of the cannabis industry as a whole is looking good. More places outside of the U.S. have legalized cannabis or are in the process. With the increase in global reform and success, more people are looking for ways to get involved. Right now there are multiple ways one could become a part of the legal cannabis industry. Just make sure you take your time to educate yourself about the industry and learn the market. Below are a few marijuana stocks to watch in 2021 that may soon see more momentum.
Top Marijuana Stocks To Watch This Month
Green Thumb Industries Inc.
Green Thumb Industries Inc. manufactures, distributes, and sells various cannabis products for medical and adult use in the United States. Though GTBIF stock is not trading previous levels YTD the company is up. This marijuana stock has been the fan-favorite for investors. Currently, the stock is down but GTBIF still holds a promising level to build from. For trading in September and October GTBIF stock was on a volatile decline.
Yet in the first week and half of November GTBIF got a nice upward push in trading. Now in the first 2 weeks of November positive news about federal reform helped cause this rise. Which resonated well for other companies in the sector as well. That jump in trading during that time was a good sign for shareholders. Also early in the month, the company released its Q3 earnings. This also played a part in the upward trading GTBIF stock saw at the time.
During Q3 the company revenue increased 5.3% sequentially. In addition to 48.7% year-over-year to $233.7 million Also, this made for the fifth consecutive quarter of positive GAAP net income. Which delivered $20.2 million or $0.08 per diluted share. Not to mention Q3 being the seventh consecutive quarter of positive cash flow from operations. The company overall is one of the top marijuana stocks to watch. Hopefully, the company can sustain any momentum it finds that may lead to better trading.
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Columbia Care Inc.
Columbia Care Inc. cultivates, manufactures, and provides cannabis-based health and wellness solutions, and derivative products. The company holds licenses in 18 jurisdictions in the United States and the European Union. As of October 13, 2021, it operated 130 facilities, including 99 dispensaries and 31 cultivation and manufacturing facilities. In recent news, the company announced it has won two MarCom Awards.
These awards were for a Platinum Award in the Branding Refresh category for its Cannabist retail rebrand. And a Gold Award in the Mobile Buying Experience Category for its online cannabis discovery tool, Forage. Columbia Care is the first cannabis multistate operator to win in both categories. In addition, they are also the first U.S.-based cannabis company to win a Platinum Award across any of the categories.
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Words From The Company
“Our primary goal is to be the most innovative cannabis company in the industry when it comes to our products, services and customer engagement,” says Jesse Channon, Chief Growth Officer of Columbia Care. “Cannabist and Forage together are redefining the traditional dispensary shopping experience at every turn, encouraging patients and customers of all experience levels to come as they are. We’re honored that marketing professionals around the country from various disciplines have recognized Columbia Care for our creativity, branding and innovation.”