Several marijuana stocks are firing on all cylinders, and they are keeping up steam as we enter June. Mergers and increased interest of investors are among the biggest catalysts adding plenty of marijuana stocks to the watchlist for June.
The cannabis industry is arguably enjoying its best days right now. In the early days of June, several stocks climbed and showed signs of more promising results in the next few more days.
Although the sector recently had a tough phase, it is reviving magnificently now. And, it could mean a decent increase in the stock market. If you’re thinking of investing in marijuana stocks, June can be an ideal time to try your luck.
In addition to keeping an eye on federal news that may spark big moves in the cannabis industry, know about the top-performing stocks that hold potential to rock June.
● Cronos Group Inc.
The Canada-based marijuana company deals in a wide range of cannabis products. From oils and extracts to hemp-derived supplements, there are many kinds of brands started by CRON.
Although CRON hasn’t been in the news for the last few weeks, the company celebrated a big green day in May. One of the significant reasons to invest in Cronos Group Inc (NASDAQ: CRON) is its recent performance. It’s having good days on the market, which makes it a stock worth watching this month.
● The Green Organic Dutchman Holdings Ltd.
Popularly known as TGODF on the cannabis stock market, the Canadian marijuana product maker is an interesting player to notice in June. The company produces cannabis and supplies a huge range of products, including seeds, oils, topicals, and even organic marijuana throughout Canada.
What backs TGODF stocks is the company’s first-quarter financial results announced in May. According to CEO Sean Bovingdon, TGODF has shown improving financials in the first quarter, which meant the company’s turnaround plans worked.
Following the announcement, the company saw a drop in the stock market. However, it didn’t last long. Recently, it saw a rise for many days, and the trends are predicted to continue for June too.
● HEXO Corp.
If there’s a safe bet, it’s HEXO. Most recently, the Ottawa-headquartered firm broke acquisition news, which helped it gain some momentum in the industry.
In May, the company announced that it planned and entered the Share Purchase Agreement to obtain all the outstanding shares. Also, CEO Sebastien St-Louis disclosed the company’s plan to become one of the biggest Canadian cannabis companies.
However, there are other reasons too to add HEXO to the June watchlist. It’s been a strong player, who was on May’s watchlist too. It is predicted that HEXO will continue to perform well and help investors grow for a few more weeks.
● OrganiGram Holdings Inc.
One more Canadian company to the watchlist. OrganiGram Holdings grows its own cannabis and provides a range of products, ranging from a variety of edibles, oils, and beverages.
Before June started, the firm announced Megan McCrae as the senior vice president of the company’s marketing team. McCrae, who was Chief Marketing Officer at Aphria Inc, is known as a veteran in Canada’s cannabis sector and knows several things about the industry, which may help OrganiGram Holdings.
The firm’s stock (NASDAQ: OGI) is uptrending. Also, it’s one of the multi-day runners. All these things work in the company’s favor to make it a player to watch in June.
Remember, volatility is a part of trading, especially in the case of marijuana stocks. Research well before making an investment decision.