With the government now openly discussing the eventual repeal of the prohibition on cannabis, the cannabis industry is rapidly growing in size. A few weeks ago, I took a look at the performance of some of the major marijuana stocks in the United States and I was impressed that the sector was delivering so much volume.
Like any other aspect of investing, every stock is different, and it all depends on the issues you’re looking to confront. For cannabis stocks, there was a lot of excitement in April when the Supreme Court ruled that the Justice Department may not ban the substance altogether, but the big players didn’t really put forth any significant gains. The two big names are still struggling to keep up with short-term demand, so the only way to invest is to keep an eye on the smaller companies.
2 Marijuana stocks recovering slowly on the market
In June, marijuana values continue to gain ground. It was so needed after the last 12 weeks. While some parts of the industry are starting to recover, there is still time to find good marijuana stocks to buy. Over the past three months, cannabis stocks have fallen sharply since the second week of February. As mentioned earlier, the sector has fallen so much that some cannabis stocks to keep an eye on still have good entry points after the recovery. Analysts believe marijuana stocks will consistently trade at higher market levels in the near future. Meanwhile, many investors are trying to stay current by looking for the best marijuana stocks. The reason many investors are wary of cannabis stocks is the recent decline in the sector. This decline is making investors a little nervous about investing in marijuana stocks. However, since the second half of May, the sector has begun to regain some of the lost momentum. The recent increase in trading volume has restored confidence in investing in marijuana stocks. Another determining factor was the final approval of cannabis reform at the federal level. In addition, many cannabis companies have released a report on their current revenues. With the announcement of the results, positive sentiment has found its way into the sector, leading to improved trading in some marijuana stocks worth keeping an eye on. For now, we’ll have to wait and see how the exchange goes in June. So far this month, Weech has performed well outside of the small volatility windows. With plenty of time left for an even bigger recovery in June, patience is the order of the day for investors and shareholders.
Marijuana stocks to keep an eye on this month
- Jushi Holdings Inc. (OTC:JUSHF)
- Planet 13 Holdings Inc. (OTC:PLNHF)
Jushi Holdings Inc.
Jushi Holdings Inc. is one of the few marijuana stocks that have started to rise in the market since late May. JUSHF shares began trading on the 28th. May their recovery continue. From that date until today in June, JUSHF’s share price rose 6%. While this increase may not be a huge jump for some, it is a sign that the company can perform better in the market. As trading continues in June, shareholders expect further significant gains before locking in profits. Recently, the company announced that a subsidiary, Franklin Bioscience – NE LLC, will open its 13th BEYOND / HELLO™ medical marijuana dispensary. The new branch will be opened in Pennsylvania. This new clinic adds value to the company’s current portfolio. The words of the company The first BEYOND / HELLO™ dispensary opened in Pennsylvania, so it stands to reason that we’ve reached the milestone of 20 stores with the opening of our 13th medical marijuana dispensary in the Keystone State, says Jim Cacioppo, CEO, President and Founder of Jushi. With the opening of our new store, we have not only increased access to more patients in Pennsylvania, but also the reach of our new line of innovative branded products, including The BankTM, The LabTM, Nira+TM, TasteologyTM and SecheTM. In the coming months, we plan to deepen and expand our operations in key markets in Pennsylvania as we continue to expand our store base.
Planet 13 Holdings Inc.
Planet 13 Holdings Inc – a cannabis company that owns and operates what is called a cannabis supermarket. In the last few weeks of trading, PLNHF stock is still trying to create more trading momentum. PLNHF’s share price has developed positively since the 13th trading day. and benefited from the current momentum for better trading. Despite the current decline in trading, PLNHF stock has been trending downward since the 13th trading day. May was up 13%. As the company continues to make progress in the sector, PLNHF shares could gain this month. In its latest news, Planet 13 announced record sales in May. The company generated a total of $11.2 million with a gross margin of over 50%. This news is one of the reasons why the company has seen an increase in activity recently.
Words from the CEO of Planet 13
Tourism and business are booming in Nevada, and our company reflects this trend, with continued growth month after month. We are pleased to report that the momentum of the past few months continues with another record sales month in May. Planet 13 has created a retail cannabis brand that is catching on with Americans. We believe this growth trend will continue with the reopening of Las Vegas and the upcoming opening of our Orange County superstore in July, said Larry Scheffler, Planet 13 co-CEO.
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