Right now top marijuana stocks to buy are all trading at lower levels. Now as many know this recent drop in trading has to do with the battle of federal reform. Still many feel there is still time to invest in some of the best cannabis stocks in 2021. At this same time last year…
many cannabis stocks were showing great momentum. If a cannabis stock were to drop in the market it most times would rebound to a higher position. The consistency from that time was unmatched in comparison to current market action.
At that time many felt that the way most pot stocks were trading would continue to climb. It was almost as if there was no cap and things were taking off in a major way. From November to mid-February of 2021 the entire cannabis sector was showing strong growth potential. This continuous upward trading led investors to believe that things would continue on this path.
Mainly due to how new unregulated the industry was and the speculation of what could happen. Just like now, people wanted in on the action before the next boom. So at this time, many went on to buy the best marijuana stocks they could get. However, as things were steadily climbing news surfaced about how ending prohibition became an issue. Shortly after things, immediately began to change for cannabis stocks.
Marijuana Stocks Work To Climb Out Of A Down Market
From the second week of February 2021 to early August was when pot stocks began to wake up a bit. The only concern was each time a rise in trading occurred it was short-lived. Before the downtrend, cannabis stocks would recover to higher highs most times. Now once a marijuana stock is falling from its recovery it oftentimes falls lower than where it began. Nevertheless, shareholders feel things will pick up again with the eventual passing of federal cannabis reform. The cannabis stocks will cover may be the ones to keep an eye on for better trading.
Top Marijuana Stocks To Watch In 2021
- Greenlane Holdings Inc. (NASDAQ:GNLN)
- HEXO Corp. (NASDAQ:HEXO)
Greenlane Holdings Inc.
Greenlane Holdings Inc. sells cannabis accessories, child-resistant packaging, and specialty vaporization products in the United States. As well as Canada, Europe, Australia, and South America. The company provides vaporizers, liquid nicotine, storage solutions, pipes, apparel lines, and consumption accessories. On November 15th the company released its Q3 2021 earnings. At this time the company closed its transformational merger with KushCo. This merger created the industry’s leading ancillary cannabis company.
The company’s total revenue increased 16% to $41.3 million for Q3 2021. Which is in comparison to $35.8 million for Q3 2020. As well the Greenlane achieved the second-highest sales level in company history for Greenlane Brands. This grew to $8.4 million in Q3 2021, up 26% compared to $6.7 million in sales for Q3 2020. Another highlight Greenlane Brands accounted for 20.4% of Q3 2021 total revenue. These figures are compared with 18.7% of total revenue for Q3 2020. In addition to this Greenlane Entered into an agreement to acquire industry-leading vaporizer brand DaVinci. A venture that would expand Greenlane Brands portfolio and intellectual property pipeline.
Words From The Company
Nick Kovacevich, CEO of Greenlane Holdings, said: “Q3 was a transformational quarter for Greenlane, with the completion of our merger with KushCo creating the industry’s leading ancillary cannabis company and the house of brands. Our first few months as a combined company have been off to a strong start, as demonstrated through several realized revenue and cost-saving synergies, including the consolidation of certain vendors and infrastructure and the development of go-to-market cross-selling strategies across each of our respective platforms. We are extremely pleased with the progress we have made on our integration efforts to date, while simultaneously driving meaningful progression in the business.
HEXO Corp.
HEXO Corp. through its subsidiaries, produces, markets, and sells cannabis in Canada. The company was formerly known as The Hydropothecary Corporation and changed its name to HEXO Corp. in August 2018. Back at the end of October, the company announced its Q4 and fiscal year 2021 financials. Some highlights from this time are HEXO total Q4 net revenue increased to $38.7 million. These numbers started from $22.6 million in Q3’21.
As well the company Maintained a leading market share position relative to peers as the market continues to diversify. In more recent developments…
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