The holiday season is always the time of year where people splash plenty of cash on gifts, but according to Green Entrepreneur, now is an excellent time to pay attention to marijuana stocks, notably High Tide Inc. and Ascend Wellness Holdings Inc. The best part about these two stocks is their price; both are available, each for under six dollars at this time.
The first two weeks of November saw marijuana stocks recover but have once again started to trade down in the market. Marijuana stock investors believe the issues surrounding legislation on federal cannabis reform significantly contribute to the stock’s value.
Last September, a House of Representatives legislative committee voted to advance the Marijuana Opportunity, Reinvestment, and Expungement (MORE) Act, which will legalize marijuana on a federal level if passed in Congress.
Investors have different strategies when it comes to marijuana stocks. Many people believe marijuana stocks will take off due to the eventual passing of federal cannabis reform.
In what was once a taboo market, marijuana stocks give investors new opportunities to make money. Here is more information on the two marijuana stocks to look out for in December.
The first marijuana stock to consider is High Tide Inc., a company fully engaged in the cannabis retail industry. High Tide has a growing portfolio of global e-commerce cannabis brands and brick-and-mortar companies.
The retail-focused cannabis corporation is rapidly expanding and acquiring more brands which is a positive sign for potential investors.
Last July, High Tide Inc. acquired 80% of Daily High Club, Inc., an e-commerce brand specializing in cannabis accessories sales.
Ascend Wellness Holdings is a vertically-integrated business operating multiple assets in five different states. The cannabis retail company has dispensaries in various states where cannabis sales are expected to continue.
One of the states where Ascend Wellness Holdings is looking to expand is Massachusetts. The state’s Cannabis Control Commission reported back in September that cannabis sales had reached $2 billion since the adult-use cannabis market’s launch.
“With 2021 Massachusetts cannabis sales expected to more than double from last years’ total, we’re excited to bring Ascend’s high-end retail experience and robust product offering to Newton,” said Andrea Cabral, CEO of Ascend Massachusetts said in a press release. “We’re proud to launch our first delivery service, which increases consumer access to premium cannabis products for those in Middlesex County and Downtown Boston.”
The dispensary in Newton, MA, opened with a ribbon-cutting ceremony in early December. Residents are now able to purchase their favorite cannabis strains in secure child-resistant packaging.
Ascend Wellness Holdings’ website is also investor-friendly, with quarterly financial results shared along with other news.
There is a considerable buzz for these two cannabis businesses, making them the two cannabis stocks to look out for in December.