These two cannabis stocks could see considerable improvement this month

86 0

Two common names in the cannabis industry have potential for upward growth

For many, the start of a new month can bring great opportunities in the stock market. At the moment, the marijuana industry continues to be driven by a high level of volatility, meaning that the sector can rise as quickly as it can fall. While this makes it difficult to see sustained trading, there are those who still have the potential to profit from these rapid increases in trading. Many experts expect that during this month, relevant cannabis companies will begin to release earnings, which, if they are solid reports, could be a catalyst for positive sentiment in the sector.

One that should definitely be watched closely is Canopy Growth, a company that continues to maintain its position as one of the leaders in the sector. The company relies on its subsidiaries to distribute, produce and sell hemp and cannabis-based products for medical and recreational purposes mainly in Canada, Germany and the US.

Last week, the cannabis firm unveiled its new premium flower line through 7ACRES and Doja. The products are said to be summer vacation essentials with a clear commitment to innovation from Canopy.

On the other hand, there is Tilray Brands company, which should certainly be in the portfolio of investors who want to see their money double in the next few years. The company focuses on the cultivation, production, distribution, marketing and research of medical cannabis products in Canada, the US, Europe, Australia, New Zealand, Latin America and internationally.

Among the most recent updates is its record results for the fiscal year 2022. Most notably, Tilray leads the European medical cannabis market with a 20% market share in Germany. In contrast to the fourth quarter of the previous year, international cannabis in the fourth quarter increased by 205%.