2 Marijuana Penny Stocks You Need To Know About In 2021

Many marijuana stocks are still fighting to reach higher market positions. Right now there is a lot going on in the sector all across the board. For example, the big focus is of course passing some type of…

federal cannabis legislation. Whether it be marijuana baking or legalizing cannabis on a federal level. Which most traders feel with cause the sector to run if and when that day arrives.

Next, we have marijuana companies expanding and growing through mergers and acquisitions. It seems as the cannabis industry becomes more regulated we will see more companies merge as one. With more cannabis companies becoming one it will allow for more resources and stronger bridges to be built. As far as the current performance in the market many cannabis stocks are down from earlier in 2021 and even mid-2020.

Yet the success and growth of the overall cannabis industry is still flourishing. One of the many things that have helped this happen is states being able to legalize and establish their own marijuana market. So with more states going legal and setting up new markets, it will only add more value as time goes on.

The U.S. Cannabis Industry Is Impacting The Market

Right now more than half of the United States has legalized cannabis in some form. But if you count CBD to be a true cannabis product well about most places in the U.S. sell CBD products. This is due to the passing of the 2018 Farm bill which made CBD products under a certain amount of THC legal in the U.S. All in all on a state level not much as has stopped the growth of the cannabis industry. However with more work to be done on the legislation side of things people who are a part of the industry are watching with great anticipation of what’s to come.

Marijuana Stocks To Watch This Month For Better Trading

  1. Charlotte’s Web Holdings, Inc. (OTC:CWBHF)
  2. Neptune Wellness Solutions Inc. (NASDAQ:NEPT)

Charlotte’s Web Holdings, Inc.

Charlotte’s Web Holdings, Inc. produces and distributes hemp-based cannabidiol wellness products in the United States. The company offers products in the categories of tinctures, capsules, gummies, topicals, and pet products. Back in September, the company released its Q2 2021 earnings. Some highlights to mention are the company’s B2B revenue increased 37.7% year-over-year.

As well the company has a $10 million unused line of credit with JPMorgan; opportunity to extend to $20 million. Another thing to point out is the company’s operating expense was reduced by 15.2% year-over-year. Also Charlotte’s Web DTC eCommerce revenue increased 1.0% to $15.7M. This contributed to the 64.9% of Q2 revenue and holding onto the pandemic online shopping boost.

Words From The CEO

“The ongoing economic recovery from the pandemic that began in Q1 strengthened through the second quarter, driving a 38% increase in our retail revenue as many consumers transitioned from online shopping back to brick and mortar retail. This was especially evident within our largest and most established medical and healthcare practitioner channels,” said Deanie Elsner, CEO of Charlotte’s Web. “We believe we are best positioned to take advantage of the return to brick and mortar retail as we hold the number one share position in the food/drug/mass and natural specialty retail channels in the US. Internationally, we recently planted our first hemp crop in Canada and anticipate initial product sales by early 2022.”

CWBHF Stock Performance And Market Update

In the last 4-6 weeks of trading CWBHF stock has been working to climb back up in the market. From the start of August, the company saw an immediate drop in trading. Yet from the 4th of August to the 13th CWBHF stock saw a small uptick in trading but it was short-lived. Essentially the month of August like other cannabis stocks was a volatile downtrend. Currently in September CWBHF stock is still down trying to pick up more momentum.

Neptune Wellness Solutions Inc.

Neptune Wellness Solutions Inc. operates as an…

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