As the start of August is underway marijuana stocks are still feeling the effects of the volatile trading that has been occurring. For quite some time the sector has been fluctuating in price more often since the recent downtrend. Although this up and down action in the market is giving people a chance to see some subtle gains. Yet the overall average of the sector is down. Meaning prior to mid-February most marijuana stocks were on a steady incline in the market.
Even when the sector would momentarily dip it would most times recover with bigger gains. Now the pattern is lower lows after each recovery attempt. For instance when a particular cannabis stock is trading at a certain level and then it dips it most times will not recover to previous highs. This isn’t to say that once a marijuana stock dips you cant capitalize off its small uptick when the time comes. It just means some type of catalyst needs to take place for better trading to happen.
Currently, many marijuana stocks are starting to see some upward trading due to some cannabis companies releasing earnings. When companies show positive earnings it resonates well amongst other cannabis stocks. This happens all off of the chance the company will follow suit being in the same niche. Next is just the overall success of each marijuana company outside of the market.Marijuana Stock Info And Market Updates
At times what happens outside of the market in the cannabis industry can be a way for the sector to see some good trading momentum. In recent trading, the sector as a whole is working on pushing back up to higher market levels. It seems that right now is a waiting game for the sector as most cannabis stocks are trading at lower levels. Some feel things will change and other investors do not but only time will tell when looking to buy the best marijuana stocks in 2021.Marijuana Stocks To Watch In 2021Sundial Growers Inc.
Sundial Growers Inc. engages in the production and marketing of cannabis products for the adult-use market in Canada. It produces and distributes inhalable products, such as flower, pre-rolls, and vapes. In the last 12 weeks of trading SNLD stock has been trying to reach a higher market position.
The start of May was led by a drop in trading. Yet in the middle of the month, trading began to pick up for SNDL stock. However, towards the close of May SNLD stock was able to end the month with an increase in trading. This upward momentum continued for the first 3 days of June but soon after the company started to fall. For the month of June outside of small volatile spikes, SNLD stock was trading down.
This decline in trading furthered in July even with a slight rise to close the month SNLD stock is still trading at a lower market position. The hope is for shareholders to remain optimistic about future trading for this marijuana stock to watch. In recent news, the company has announced it will soon be releasing its second-quarter 2021 financial results. These Q2 earnings will be made public on the 12th of August 2021.Fire & Flower Holdings Corp.
Fire & Flower Holdings Corp. through its subsidiary, Fire & Flower Inc., operates as an independent retailer that offers cannabis products and accessories through its retail locations. These stores are located in the provinces of Alberta, Saskatchewan, Manitoba, Ontario, and Yukon. It also engages in the wholesale of regulated cannabis products and accessories in Saskatchewan. As well they operate Hifyre digital retail and analytics of regulated cannabis e-commerce platform.
In the last 2-3 months of trading FFLWF stock has been facing a great amount of volatility in the market. The beginning of May trading for FFLWF stock was not terrible but more stagnant some may say. Yet in the first week of May FFLWF stock did a fair job at sustaining what could have been a promising position to build from. After the 7th of May, the company started its descend in the market. From May 13th to the 26th was a time when FFLWF stock started to show signs of upward trading before the start of June.
At the start of June, the company began to build back some of its lost trading momentum. Starting from the end of May to the 28th of June FFLWF stock saw gains of 10 percent. Which is not a bad way to climb back up and show more trading potential for the days to follow. However with how unpredictable the market can be after the 9th FFLWF stock started to dip back down.
Looking from the 22nd of June to the start of July a brief recovery attempt was made but short-lived for FFLWF stock. For the better part of July trading was on the downside as the company was not able to recover before the start of the following month. Currently, in August more momentum is building but more upward trading needs to happen for shareholders to feel more confident about this marijuana stock.