Top Marijuana Stocks For Your November 2021 Watchlist
In the last week of trading marijuana stock investors went on a buying spree. Mainly between Thursday and Friday, the sector started to see a big rise in momentum. This jump in the sector gave new hope and some long overdue profits. A good portion of those who have invested in marijuana stocks are still holding their position. These individuals feel that a much bigger rise in trading is bound to happen. Particularly with the eventual ending of marijuana prohibition. With the ending of marijuana prohibition, many new doors will be open. So for example with marijuana being federally legal many OTC marijuana companies can now uplist to major exchanges like the NYSE or the NASDAQ.
Currently, many cannabis companies can’t uplist to these major exchanges due to marijuana still being federally illegal. Yet once this is no longer an issue a large number of people feel this will be the catalyst needed to see the sector climb. For the last 9 months, the majority of cannabis stocks have fallen to much lower levels. From this drop in trading, many have been searching for the top cannabis stocks to buy. This is being done in preparation for what many feels is soon to come.
Beyond this, the cannabis industry is still showing more growth and progress. This progress, furthered the interest of many to find a way into the legal cannabis market. The expectation is with the industry still growing and the sector a bit down that more people will buy pot stocks., This will cause the sector to rise and possibly give people more time to make some money. Below are a few marijuana stocks to watch in 2021 for better trading.
Top Marijuana Stocks To Watch In 2021
- Greenlane Holdings, Inc. (NASDAQ:GNLN)
- MariMed Inc. (OTC:MRMD)
Greenlane Holdings, Inc.
Greenlane Holdings, Inc. sells cannabis accessories, child-resistant packaging, and specialty vaporization products in the United States, Canada, Europe, Australia, and South America. Back on the 3rd, the company announced the release of its Q3 preliminary 2021 financial data. These results reflect approximately one month of combined operations following the successful merger of Greenlane and KushCo Holdings, Inc.
During this time the company saw net sales of between approximately $40 million and $41 million. Also, the company reached an adjusted gross margin of between approximately 19% to 21%. Next Greenlane also has a total cash balance of approximately $13 million.
Words From The Company
“As we shared when announcing our merger with KushCo, we identified a small part of the legacy Greenlane business that competed with KushCo’s packaging business,” said Nick Kovacevich, CEO of Greenlane Holdings. “A significant portion of our rationalization work post-merger has been to eliminate the redundancies between those two units and to write off certain items that are not selling as efficiently. We’re paying close attention to items generating robust cash-to-cash cycles, taking out the lower-margin items that require us to invest significant working capital and instead reallocating those resources to higher-margin goods.
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More Commentary From Greenlane Holdings
“This has resulted in us tightening up our SKU count and being more judicious with our working capital, while also generating cash in a non-dilutive way by selling inventory that can fund our organic and inorganic growth initiatives. We believe this initiative will set us up to have a stronger balance sheet that is more flexible to meet the demands of an evolving global supply chain that has been strained in recent months with global container shortages, COVID-19 challenges and restrictions, and higher freight costs.”
MariMed Inc. engages in the cultivation, production, and dispensing of medicinal and recreational cannabis in the United States and internationally. It offers cannabis genetics to produce flowers and concentrates. At the end of October, the company announced the date it will be releasing its Q3 2021 earnings. Management will host a conference call on November 16, 2021, at 8:00 a.m. EDT to discuss the results.
In more recent news the company also announced it has won the High Times cultivation cup award. This award was for the company’s Nature Heritage Brand and MetroSouth award for best cannabis shop. The two awards are just the latest in a year of accolades for MariMed’s brands and illustrate that the Company’s commitment to craft cultivation at scale. This includes its heavy emphasis on individualized, hands-on care for each and every plant, which translates to exceptional products.
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Words From CEO Of MariMed Inc.
“Cannabis consumers tell us every day with their wallets that they love our brands and our dispensaries. But earning the recognition that comes with an award is of course gratifying as well. We’re thankful to High Times, MetroSouth, and all the groups that have honored us over the years,” said MariMed CEO Bob Fireman. “We’re also thankful to the employees in our cultivation, processing, and dispensary facilities who share our vision for creating great products that improve people’s lives and making it a reality.”
The post Top Marijuana Stocks To Watch The 2nd Week Of November appeared first on Marijuana Stocks | Cannabis Investments and News. Roots of a Budding Industry.(TM).
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