2 marijuana stocks to watch this coming week
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August 8, 2021
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This story originally appeared on MarijuanaStocks
2 stocks of marijuana to watch the 2nd week of August
Over the past few months, marijuana stocks have fluctuated in the market. Much of this volatile trading can be attributed to a few factors. On the one hand, there is a growing amount of uncertainty and skepticism around marijuana stocks. This is explained by the downtrend that took place from mid-February to the end of April.
Even with the market trading at a lower average, more action begins to occur. Now, this action comes in the form of a volatile trade. This means that a particular business can go up and down and some people are able to go into the trough and out of the rebound. Another factor in this volatile trade is simply how unpredictable the industry is. When investors and shareholders are unsure whether they will keep their position most of the time or sell it.
It seems that part of this downward volatility is also coming from people selling their stocks, which would lower the price of this cannabis stock. Another factor that may play a role is the push for federal cannabis reform. Many marijuana companies need better cannabis reform, of which federal legalization is key. Ending the cannabis ban in the United States would open many doors for marijuana businesses that were once closed due to federal law.
But even though the cannabis industry is still thriving and growing, it hasn’t caught on in the industry like it did before mid-February. Still, more actions are on the way to some extent as some analysts believe the sector will return to previous trading levels ahead of the downtrend. While this isn’t a full recovery with the way the industry is trading now, now is a good time to find the best marijuana stocks to buy.
Marijuana stocks to watch this month
- Lowell Farms Inc. (OTC: LOWLF)
- MediPharm Labs Corp. (OTC: MEDIF)
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Lowell Farms Inc.
Lowell Farms Inc. is engaged in the cultivation, extraction, processing, manufacturing, branding, packaging and wholesale distribution of cannabis products to retail dispensaries. in California. The company was previously known as Indus Holdings, Inc. and changed its name to Lowell Farms Inc. in March 2021. In May, trading for the company started on a volatile downward path.
In early May, LOWLF stock was losing some of its previous trading momentum. During the first 2 weeks of May the LOWLF stock was unable to reach a higher position in the market. Yet from May 14 to the end of the month, LOWLF stock started to see a rise in trading. Meanwhile, the company was able to see a 14% increase before moving on to June. In June, trading continued to decline for LOWLF stock, albeit with a few small increases on the downside.
Now, at the end of the month before July, the company has seen a rebound in trading. For LOWLF stock in the first week of July, things were going well as the company was able to maintain momentum in the market. Currently, in August, things are still a bit volatile for the company. But with more time in the month, hopefully things will turn around for this stash of marijuana to watch out for.
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MediPharm Labs Corp.
MediPharm Labs Corp. and its subsidiaries produce and sell pharmaceutical grade cannabis oil and concentrates, and offer their derivatives in Canada and Australia. It formulates, processes, conditions and distributes cannabis extracts and cannabinoid products. Since the beginning of May, the MEDIF action has been a bit flat in the first half of the month.
It wasn’t until May 13 that the company started to gain momentum and come back into the market. From May 13 to the end of the month, the MEDIF share recorded gains of 43% for this period. At the beginning of June, MEDIF’s trading started to lose some of its commercial dynamism. At the beginning of June, the MEDIF action started to decline. Now, like many falling stocks in this sector, there have been small spikes on the downside.
Much of this business model took place all the time in June and even followed in July. Unfortunately, even with a few increases in trade during this downtrend, MEDIF was unable to maintain it to achieve a better position in the market. Currently, in August, the company has been trying to find more momentum in order to be able to negotiate better.
Right now, MEDIF stock is still going down, but some believe it will eventually pick up and the company will rise again. With the current state of the cannabis industry, perhaps now is the time to add more marijuana stocks like this to your investment portfolio. With more progress and growth in the cannabis industry, more and more people are looking for ways to get involved in the sectors.