These companies could give investors’ portfolios additional strength
The first week of October has seen cannabis stocks gaining further momentum. Undoubtedly a number of shareholders have made a number of different profits from this rally. Seeing the money multiply, shareholders feel more confident about repeating the process, especially in a sector as volatile as marijuana. While the winds may blow in different directions as time goes on, you may be able to benefit if you consider these three stocks.
The first is IM Cannabis, a company that focuses its business on growing, producing and supplying medical marijuana products in Canada, Germany, and Israel. In recent weeks the company has released a couple of key updates.
Chief among them is the welcoming of two new board members. Vivian Bercovici and Haleli Barath will be replaced by Einat Zakariya and Moti Marcus. In addition, the company joined forces with SNDL to complete its first international export of premium dried flowers from Canada to Israel.
With operations in the US, Canada, Israel, Mexico, South America and the European Union, TILT Holding also offers a good opportunity now that a new month has just begun. The company, which operates through the Cannabis, Accessories, and Other segments, is primarily engaged in the production, cultivation, extraction and sale of marijuana products. It offers potential, especially after making great strides in its agreement to buy and sell facilities in White Haven, Pennsylvania.
And then there’s Glass House Brands, a firm that focuses on the manufacture, cultivation, retail and distribution of raw marijuana, cannabis oils, and cannabis consumer goods to wholesalers and consumer packaged goods retailers. Earlier in the week, the company was able to close its second tranche of a non-brokered private placement of equity securities. Glass House expects to complete the offering in the next 30 days. If successful, a total of approximately $50 million of Series B preferred shares are expected to be outstanding.