Right now marijuana stocks are still facing a bit of pullback in the market. In the first days of August trading for cannabis stocks were starting to move back up in the market. However, later on in the week momentum started to decrease in the sector. A possible reason behind this loss in trading could be due to people waiting for marijuana companies to release earnings.
When a company releases earnings and they show to be positive it can have a positive effect on other cannabis stocks and how they perform. This is due to investors seeing one company do well so they feel other marijuana companies will follow down the same progressive path. This is what some may call speculative trading when you feel something will happen based on another circumstance.
People at times will invest based on the speculation of what possibly could happen. The reason why most would buy marijuana stocks using speculation is to get in before other people discover the same opportunity. If you can invest in a particular play before others can find out it can potentially yield nice returns in the end. Now looking past speculative trading always do your research before any investment is done. Educate yourself on the companies and markets you are looking to be a part of.
Investing in anything comes with risk so you want to put yourself and your money in a position to mitigate that risk. This is where conducting thorough due diligence comes into the picture. The current trading going on for many cannabis stocks now is showing to be a good time to find the right plays. Another good chance to find top marijuana stocks to buy is happening right now. The pot stocks below may be one of those options.Marijuana Stocks To Watch Right NowRed White & Bloom Brands Inc.
Red White & Bloom Brands Inc. engages in the cultivation and retail of cannabis products primarily in Michigan, Illinois, Massachusetts, Arizona, California, and Florida. The company is headquartered in Vancouver, Canada. In recent market action, RWBYF stock has started to build more trading momentum.
During the last few months, trading was not the best for RWBYF stock but now in August, the company is working to sustain its current road to recovery. In the last few weeks, the company has released some important updates. At the end of July, the company released its Q1 2021 earnings. Some key things to mention are the company reported adjusted sales for the 1st quarter of $32.7 million.
This counts for a sequential increase of 14.5% from the prior quarter’s adjusted sales of $28.6 million in Q4 2020. In more recent news the company also announced they have closed on the acquisition of a 45,00 square foot greenhouse. Which will be located and active on a 4.7 acres piece of real estate in Orange County.Words From The Company
“The Apopka facility is part of the overall strategic vision RWB has for Florida and we are excited to see such forward progress being made since acquiring our license earlier this year,” said Jim Frazier, GM of RWB Florida. “The Apopka acquisition cements the fact that we are committed to expansion in Florida, which is in line with the overall company’s growth strategy across the country.”MedMen Enterprises Inc.
MedMen Enterprises Inc. through its subsidiaries operates as a cannabis company in the United States. The company cultivates, produces, distributes, and retails recreational and medicinal cannabis under the [statemade], LuxLyte, and MedMen Red brand names. It operates 25 retail stores in 6 states. In the last 2 months of trading MMNFF stock has been on a volatile downtrend.
Outside of the market, the company is one of the most known cannabis dispensaries in the United States. It’s just the success of the company outside of the market is not exactly resonating inside of the market. In July some small spikes in trading did occur but overall the MMNFF stock was not able to keep any upward momentum going.
Currently, in August the company is still down but is working to build back its momentum. The goal for shareholders is to try to remain patient as they wait for better trading to happen. Back in July, the company announced the permanent appointment of Tom Lynch as Chief Executive Officer.Words From CEO Of MedMen Enterprises Inc.
“I am thrilled to be joining MedMen in a more permanent capacity,” said Lynch. “We have an incredible opportunity to capitalize on our recent successes, and continue on our path of rapid growth and profitability. It is our goal to solidify MedMen’s place as the premier cannabis retailer, and to continue the expansion of our retail footprint to ensure everyone has access to the highest quality and most effective cannabis products in the market today.”