2 stocks of marijuana to watch out for before October
2 marijuana stocks to watch out for before next month
This week has been a better time for most of the marijuana stocks on the market. Much of this upward momentum has come from industry updates on federal cannabis reform. Also this week, the House passed a defense bill with banking measure for cannabis. This measure is the SAFE Banking Act. that would protect banks from federal regulators who have worked with marijuana companies. When this bill was passed, it struck a chord with the industry. At which many marijuana stocks have seen a good jump in trade. Although today, September 24, things have moved back slightly.
Yet the recent increase in trading from 22-23 was necessary for investors and shareholders to realize much-needed profits. In addition to restoring some doubts or uncertainties they might have had. Right now, the cannabis industry is starting to rebuild itself with the continued push for comprehensive cannabis reform. Now the challenge will be whether the Senate approves the defense bill just like the House. This is the fifth time that the SAFE Banking Act has been passed by the House and Senate. If it passes this time around, marijuana stocks have a good chance of seeing another jump in trading. What many people hope for.
The more important goal beyond the cannabis bank is to end the ban on marijuana. If we could see marijuana legalized federally or reprogrammed as Class 3, it would be a game-changer for the cannabis industry. Not to mention the possibility of seeing a run among many pot stocks in the market. With the potential to end the cannabis ban, that would open many doors that were once closed due to federal restrictions. So with that, it looks like the future of the industry is looking bright.
The best marijuana stocks to watch out for right now
- Harvest Health & Leisure Inc. (OTC: HRVSF)
- Cansortium inc. (OTC: CNMTF)
Harvest Health & Leisure Inc.
Harvest Health & Recreation Inc. and its subsidiaries grow, process, sell and retail inhalable, ingestible and topical cannabis products in the United States. Over the past month, the company has released some important updates. Back in early September, announces the planned transfer of the Florida license. On September 14, the company announced its 12th Florida dispensary located in Jacksonville.
On top of that, the company soon after opened its 13th cannabis outlet in Kissimmee, Florida. In addition, in the most recent news, the company has continued to expand its business. This was done by Harvest Health & Recreation by opening another location. On September 23, the company announced the opening of its 14th dispensary in Florida. This store is located in Port St. Lucie.
[Read More] What is happening with CBD regulations in the cannabis industry?
âWe are delighted to open our fourteenth Harvest site in Florida, one of the fastest growing medical markets in the United States,â said Steve White, President and CEO. âWe look forward to serving patients and delivering quality products to this new location in one of our core markets. “
HRVSF stock performance and market update
In early September, HRVSF action began with a decline in trading. This decline lasted until the middle of the month. On September 14, HRVSF stocks started to recover and started to gain momentum. This small descent lasted until the 17th and soon after started diving again. From the 20th to the 24th, this cannabis stock started to climb again. Currently, the stock of HRVSF is on the rise in the market and hopefully this marijuana stock will continue to rise until October.
[Read More] Looking for some marijuana stocks for your watch list next week? 2 leaders in the cannabis industry
Cansortium Inc. through its subsidiaries produces and sells medical cannabis in the United States. The company is engaged in cultivation, processing, retail and distribution activities. On August 24, the company released its financial results for the second quarter of 2021. Some highlights to mention are that the company announced that its second quarter revenue was up 24% year-on-year to $ 16.5 million. of dollars. In addition to adjusted EBITDA up approximately 2x to $ 5.2 million.
Next, the company opened its 26th Florida dispensary in Deerfield Beach in July. Additionally, the company’s Florida revenue increased 22% to $ 14.6 million from $ 12.0 million. Part of the company’s 2021 outlook revises its 2021 revenue forecast to between $ 70 million and $ 80 million. As well as adjusted EBITDA varying between $ 18 million and $ 26 million. This compares to around $ 52 million in revenue and $ 10 million in adjusted EBITDA in 2020.
âWe continued to drive growth and profitability in our key markets during the second quarter, as evidenced by another record month of sales in May,â said CEO Robert Beasley. âOur constant focus on providing differentiated, high-quality floral and wellness products has been well received by our patients. In addition, we now offer several boutique varieties that have never been sold in the Florida market.
The post 2 Marijuana stocks to watch before October appeared first on Marijuana stocks | Cannabis investments and news. Roots of a budding industry. (TM).
COMTEX_393957118 / 2683 / 2021-09-24T15: 47: 46
Is there a problem with this press release? Contact source provider Comtex at [email protected]