These Canadian Marijuana Stocks Still Hold Value In The Market

With the start of the final week of May, marijuana stocks seem to be sustaining an upward push in the market. This current increase in momentum is setting a good pace for the start of June. Initially at the start of the month cannabis stock did not start to rise like they are now. Even with this current momentum shareholders need to see more consistency before ruling it a real recovery.

This due to the uncertainty that has been surrounding marijuana stocks. Even with analysts predicting May would be a better period of trading most of the month was a pretty volatile time. For instance, in the second week of May cannabis stocks started to slowly climb. As well during that time, some marijuana stocks were unable to keep their upward push going. The inconsistent fluctuation in share price for cannabis stocks built up that uncertainty as mentioned above.

Even with May being a volatile month, there was more consistent action than the last 2 months. Now some people feel with this increase in trading momentum that June could possibly be a better month of trading. Yet there is no way to know for sure that next month will be better. However, with May having more market action investors feel there’s a strong chance at seeing more consistency with marijuana stocks.

Marijuana Stocks And Market Info

Over the last 3 months, investors have had the chance to invest in the top marijuana stocks buy. Obviously due to the drop in trading throughout the entire cannabis sector led to a 12-week buying opportunity. Yet the issue remains which is when will trading reach a high enough level where investors can make a profit. For now, it seems to be a waiting game as the possibility of better trading could happen in June.

Marijuana Stocks To Watch Before Next Month

1. HEXO Corp. (NYSE:HEXO)
2. Tilray Inc. (NASDAQ:TLRY)

HEXO Corp. is an award-winning consumer packaged goods cannabis company. The company works in the industry by creating and distributing innovative products that serve the global cannabis market. Over the last 2 weeks, HEXO Corp has released a bit of news. Back on May 14th, the company announced its Purchase and Sale Agreements in relation to its first US production facility, through a wholly-owned US subsidiary.

The 50,000 sq. ft. facility, located in Northern Colorado, will provide US CPGs and consumers access to the Powered by HEXO® technology. Next, the company released news on the 17th in regards to acquiring 48North Cannabis Corp. Not only does this deal diversify HEXO’s portfolio further it also strengthens HEXO’s position in Canada’s recreational market. 

“As we continue down our path towards achieving a top two position in Canada by adult-use sales, we are looking forward to welcoming the 48North team into the HEXO family.” said Sebastien St-Louis, CEO and co-founder of HEXO Corp. “48North’s innovative product portfolio complements HEXO’s existing brands which, combined with their additional market penetration, will further strengthen HEXO’s position in the Canadian market.

In more recent news the company announced its participation in BMO capital markets 16th annual farm to market conference. Over the last week or so of trading, HEXO stock has shown a bit more volatility. During this time small windows of increased momentum have occurred. However HEXO stock has run into a tough spot trying to keep its momentum going. As the end of May is here shareholders hope that June brings a spike in trading for this Canadian marijuana stock to watch.

Tilray Inc.

Tilray Inc. at one time was considered a top Canadian cannabis stock to buy. However over the last several months trading for the company has been less than stellar. Back in February TLRY stock within the first week and a half went on a solid run. This performance left some investors shocked. However, this led some to purchase shares with anticipation for TLRY stock to keep climbing. Unfortunately, the TLRY stock run was short-lived and since that time has dropped in trading. 

Even with the big news of its merger with Aphria Inc., it did not add any trading momentum for the company. Some feel as the adult cannabis market picks up even more it will eventually resonate well for Candian cannabis stocks. Now there is no way to be certain of this so investors remain patient as TRLY stock has yet to recover.

Some have even gone as far as to say that once the U.S. enacts federal reform it will be a saving grace for most Canadian marijuana stocks. As mentioned above for now it’s a waiting game as things still are developing for the company. With this investors will have to choose wisely when looking for the best Canadian marijuana stocks to buy in 2021.