These two ancillary cannabis stocks are perfect options for investors

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Two companies that operate around the perimeter of the cannabis industry are perfect investment options

The week is ending with the major marijuana stocks taking some dips. Particularly, this has affected ancillary marijuana stocks. These companies are in the business of helping the cannabis sector without having to work directly with the plant. As the cannabis industry continues to trade lower, many investors should consider at least two major ancillary cannabis stocks to their portfolio watch list before the week ends.

One is Scotts Miracle-Gro, considered one of the world’s largest marketers when it comes to branded consumer lawn and garden supplies. Hawthorne Gardening is one of the subsidiaries used for the company’s entry into the cannabis space. This famous distributor focuses on cannabis fertilizers, lighting, and hydroponic equipment.

Earlier this year, the company decided to add Luxx Lighting and True Liberty Bags to Hawthorne’s portfolio. The purchase made Hawthorne’s industry-leading lighting portfolio even stronger. While Hawthorne sales have not had an upward movement, the business has maintained its full-year projection.

On the other hand, Hydrofarm Holdings Group is a well-known supplier and distributor of supplies and equipment for hydroponic and controlled environment agriculture. Its sales include a wide range of general cannabis cultivation equipment. The firm has a diverse variety of incomparable items ranging from high-intensity grow lights to temperature control and growing materials.

Late last year, the company announced the completion of its acquisition of Innovative Growers Equipment, Inc. A few months later, it announced a joining of forces between the company and AXEON Water in an effort to provide revolutionary reverse osmosis water purification technologies and solutions.