Free Book Preview Cannabis Capital
Learn how to get your business funded in the Cannabis economy!
June 7, 2021 5 min read
This story originally appeared on MarijuanaStocks
Top Cannabis Stocks In June 2021
Are you looking for the best marijuana stocks to buy in June? After a few months of market declines, June could have a few catalysts that may drive the cannabis sector higher. For one the federal government reintroduced the MORE Act going into June and if this bill passes it could ignite new momentum for top cannabis stocks.
Currently, there are some marijuana stocks that could have significant upside with federal legalization passing. In the first quarter of 2021 most leading cannabis companies in the US have delivered strong earnings for investors and continue to raise revenue guidance for this year. Recently a new BDSA report shows strong revenue growth for many states in April. In Nevada, sales grew by 129% to $87.8 million but some of this is attributed to the reopening of the Las Vegas Strip.
Other states like California and Illinois also saw significant revenue growth in April increasing by 42% to $356.8million and 120% to $150 million respectively. Although recently strong first-quarter earnings have not developed into gains in the market it does show the strength of the US cannabis companies. Now in June, the cannabis sector has begun to show some upward momentum after months of declines. In general, this has left many top marijuana stocks with the possibility of more upside from current stock prices.
Factors To Consider About Cannabis Investing
For new investors, there are a few important factors to consider about cannabis stocks right now. Traditionally marijuana stocks are known for being volatile in the market. In many