3 Top Pot Stocks to Watch in June

If the recent rebound in cannabis stocks is any indicator, this might be the summer of marvelous marijuana returns for shareholders. Now that pandemic restrictions are easing in the U.S., there’s a lot of pent-up demand from consumers who are eager to chill out…

Not every resurgent cannabis cultivator stock is worth buying today, though. Many of the major companies are in an uncertain state as a result of mergers, acquisitions, and difficulty in fitting their output capacity to demand. Let’s take a look at three cannabis stocks that could make it through this pivotal period during the summer.

1. Tilray

Fresh off the closing of its merger with Aphria in May, cannabis giant Tilray (NASDAQ:TLRY) is already moving forward with new growth initiatives. On June 8, it launched a new medical cannabis brand called Symbios, while marketing new topical cannabis products under its Aphria brand of medicinals. The company is also a rising star among retail traders on Reddit, though it doesn’t yet have as much traction as some of the most popular meme stocks.

Investors should be keeping an eye on Tilray because many questions remain about how much value its merger with Aphria could actually create. If the merger lives up to management’s expectations, the company could experience up to $78 million in cost savings over the next two years.

But there hasn’t been a single earnings report since the transaction closed in early May. Stay tuned for Tilray’s next earnings update on Aug. 10, and remember to look for any hints about how management is planning to take advantage of the stock’s popularity with retail traders. While it might not be necessary to raise cash by issuing new stock right now, having a plan to rally the retail trader army at an opportune moment could get the company out of a tight spot down the line.

2. Planet 13 Holdings

Nevada-based Planet 13 Holdings (OTC:PLNH.F) is on a bit of a tear lately. Per its 2021 first-quarter earnings report, the company grew its quarterly revenue at a rate of 41.8% year over year. Importantly, that rapid level of revenue growth appears to be accelerating on a yearly basis as a result of its recovery from the pandemic shutdowns.

In each of the last three months, Planet 13 consecutively broke its prior sales record thanks to a resurgence of sales in its Las Vegas location. Plus, it plans to open a new store in California’s Santa Ana sometime in the next few months, which will be its third location. So investors can look forward to even more new revenue rolling in over the next year.

There’s one catch with Planet 13 that deserves attention. The company’s crown jewel is its…

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