Despite market fluctuations, cannabis stocks still make great targets for investors
August is coming to an end, and this was undoubtedly a month in which many investors interested in the marijuana industry saw an increase in volatility. Much of this behavior was due to speculation by many investors. More and more experts are beginning to pay attention to the overall growth and success of the cannabis industry. Major players in the market are positioned to be major competitors in the event of federal reform. Investing in some of these stocks could pay off in the long run.
Aurora Cannabis has definitely been a company whose strength and stability have led it to have an important position in the marijuana market. This company distributes, produces and sells cannabis and cannabis products both inside and outside Canada. Its operations also go beyond that as it engages in facility design and engineering, cannabis breeding, research, production, derivatives, product development, and wholesale and retail distribution activities.
There have been no major updates recently but among the highlights was the closing of its previously announced financing purchase transaction. In addition, it also announced the repurchase of $20 million in convertible notes in order to reduce the Company’s debt and annual cash interest costs.
On the other hand, there is a promising stock of Neptune Wellness Solutions. The company operates as an integrated health and wellness company in Canada, the US and internationally. Its main objective is to design a portfolio of lifestyle brands and consumer packaged goods products.
Mid-month, the firm released its financial results for the first fiscal quarter of 2023. They were certainly quite positive as Neptune reported total revenues of $16.3 million, compared to $10.1 million or a 61% increase for the same period in fiscal 2022. Information like this is a clear indication of why adding Neptune to the investment portfolio is a great idea.