To begin the week, we saw a selloff in the market caused by investors fearful of the coronavirus Delta variant spreading in parts of the world including the US.
The bill has yet to be introduced formally and currently does not have enough support to get a passing vote in Congress.
According to Statista US sales of legal recreational marijuana are estimated to be $42 billion by 2026. In 2020 cannabis sales in the US reached 18.932 billion and continues to trend upward every year.
In the first quarter of 2021 cannabis penny stocks rallied until almost mid-February but have since seen the steepest market declines in the cannabis sector.
With this in mind, we can take a closer look at some top pot stocks to add to your watchlist this week.
The company’s offering including high-intensity grow lights, climate control solutions, and growing media, as well as a broad portfolio of innovative and proprietary branded products.
In February HYFM stock reached a high of $95.48 and has declined 12.83% in the past five days.
Recently, in its first-quarter 2021 financials, Cansortium reported revenue of $15.1 million up 49% from the prior year.
In April CNTMF stock set a high of $1.35 and has lost 23.38% in the past six months.