Are These Pot Stocks Worth Considering for Your Portfolio?

Because the world is so uncertain right now, the cannabis industry has fallen to that uncertainty as well. Of course, the overwhelming issue with pot stocks right now is Covid. We all know that Covid has had a large effect on all world markets, but marijuana stocks have, for the most part, been spared. Since mid-March, we have witnessed many leading cannabis stocks to watch, climb substantially in value. This climb in value is due to the massive demand increase that we have seen for many marijuana stocks.

Larger pot stocks like Canopy Growth Corp. (NYSE:CGC) and Aphria Inc. (NYSE:APHA), have seen the brunt of these gains, but smaller pot stocks to watch have also climbed in value. For now, it seems as though the future is quite uncertain. But, all we do know is that cannabis stocks could continue to head in this positive direction. With that in mind, here are two marijuana stocks that you may want to take a closer look at.

A Leading Cannabis Grower Pot Stock

Sundial Growers Inc. (NASDAQ:SNDL) is one of the leading NASDAQ listed marijuana growers. SNDL stock is in no way at the same level as some leaders like Cronos Group Inc. (NASDAQ:CRON), but it is working to get ahead in the industry. Because of this, many believe that SNDL stock is poised to see some growth in the near future. Since mid-April, shares of SNDL stock have remained largely the same price. Although we have seen some big swings in value, the company has stayed mostly stable.

Sundial Growers has been working to increase the amount of free capital it as. CEO of the company, Zach George, stated that “with our improved capital structure and streamlined operations, we have reduced our annual cash obligations, including debt service costs, by more than $50 million.” Because of this, investors continue to believe that the company is in a solid financial position at the current point in time. Of course, the increased market demand for marijuana has completely reshaped the company’s future. Hopefully, Sundial Growers can continue to keep up the good work moving into the future. For this reason, it remains a leading marijuana stock to watch.

A Small Cap Cannabis Grower Marijuana Stock

Planet 13 Holdings Inc. (OTC:PLNHF) is considered to be one of the leaders in the small-cap grower section of the cannabis industry. Unlike many other marijuana growers, PLNHF stock has gained momentum due to the company’s verticality. Based out of Las Vegas, PLNHF stock has been able to capitalize on the growth of the Nevada cannabis industry. Domestically, the company has its main location known as the SuperStore, based right off of the Vegas Strip.

With this, it has been able to conquer growing, testing, producing, and selling cannabis and cannabis products, all under one roof. Although there is the capital intensive process of building these locations, PLNHF stock has shown that it can be quite a successful operation. In addition, Planet 13 has been working to move deeper into the Californian market by opening new locations there. Although it may take a while to see some incredible growth, in the meantime PLNHF stock remains a leading pot stock to watch.