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This story originally appeared on MarijuanaStocks
2 Marijuana Stocks To Add To Your August Watchlist
Marijuana stocks during the last 2 weeks of July have been doing a lot of up and down trading in the market. This volatile trading has left some of the top cannabis stocks in the market trading at lower prices. This creates a chance for people to come in and buy shares of these companies at lower entry points.
What draws some concern is if investors buy the dip and the shares drop even lower. This has been a recent case for some investors. This put shareholders in the position where they will need to see a bigger rise in trading to make a profit. Yet to be fair even with the overall sector trading at a lower average more action has taken place.
Now some analysts feel eventually cannabis stocks will rise back up to levels near what is what before mid-February. Right now in the cannabis sector due to companies releasing earnings some pot stocks are showing better action in the market. This is showing investors that all hope is not lost in the sector. With how the cannabis sector has been performing it’s been tough for people to feel confident investing in marijuana stocks.
However with all the progress in the cannabis industry hopefully some of that momentum can resonate among lower trading cannabis stocks. One of the smarter moves to make is to research marijuana stocks and educate yourself on the market. When doing any type of investing especially cannabis stocks give yourself the best chance at making a return.
This comes with a great deal of patience and trial and error. Never invest what you don’t have to lose. In 2021 there is a lot of potential in legal cannabis as far as investing just make sure you invest with caution analyze all options.
Marijuana Stocks To Watch Right Now
- The Scotts Miracle-Gro Company (NYSE:SMG)
- Hydrofarm Holdings Group, Inc. (NASDAQ:HYFM)
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The Scotts Miracle-Gro Company
The Scotts Miracle-Gro Company manufactures, markets, and sells consumer lawn and garden products in the United States and internationally. The company operates through three segments: U.S. Consumer, Hawthorne, and Other. Through its subsidiary Hawthorne gardening, the company is involved in the cannabis industry.
Hawthorne gardening offers cultivation solutions for the cannabis industry such as growing equipment. Currently in 2021 Hawthorne holds a respectable place amongst other cannabis companies offering the same service to cannabis cultivators. Looking back at SMG stock over the last few months we can see that the company is trying to build more trading momentum.
Over the last 3 months, SMG stock has been trading with a high amount of volatility. At the start of May, SMG stock was starting to move back up in the market. Yet right after the 11th, the company was not able to keep its climb going and began to trade down the rest of the month. Moving into June trading for SMG stock continued on the same downward path. Now like most drops in this sector small upticks did occur but not enough that SMG stock could sustain.
Essentially the whole month of June was met with a further drop in trading overall. When the start of July came the company was still having trouble reaching higher levels in the market. These last 12 weeks of trading have not been the company’s best market performance. However, moving into a new month of trading August may be the time when SMG stock starts its path to see more momentum in the market.
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Hydrofarm Holdings Group, Inc.
Hydrofarm Holdings Group, Inc. together with its subsidiaries, engages in the manufacture and distribution of controlled environment agriculture equipment in the United States and Canada. The company offers agricultural lighting devices, indoor climate control equipment, hydroponics.
As well as nutrients, and plant additives used to grow, farm, and cultivate cannabis, flowers, fruits, plants, vegetables, grains, and herbs. In the last several months of trading HYFM stock has been working on sustaining its upward push in the market even with being a volatile marijuana stock. From the start of May, HYFM stock was trading on a decent level before dipping back down later in the month.
It wasn’t until the end of May when HYFM stock started to rebound from the previous trading. if you look at HYFM stock from the 24th of May to the 28th saw a small but subtle climb in the market. Pushing forward-looking at the start of June the company was impacted but the volatility in the market. For the better part of June trading for HYFM stock was moving down but with some spikes along the way.
Yet when July came around the company was having trouble keeping its momentum going. 2 weeks into July and HYFM stock saw a big drop in trading for the last half of the month. Nonetheless, in the last few days of trading in July HYFM stock started to pull back up in the market. Hopefully with August about to start the company can keep its current upward trading going
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