Two cannabis stocks worth watching in August

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Scotts Miracle-Gro and Hydrofarm Holdings are positive-growth targets for investors

August has just begun and there is no better way to do it than by investing in marijuana stocks with great potential. Over the last two weeks of the past month, cannabis stocks have seen a lot of up and down trading in the market. Precisely because of this volatile behavior, many cannabis stocks in the market were trading at lower prices and this is where investors can make the most out of these companies. There is no doubt that during this year, there have proven to be quite a few marijuana stocks with great investment potential. Now that a new month has just begun, investors should take a close look at both The Scotts Miracle-Gro Company (SMG) and Hydrofarm Holdings Group, Inc. (HYFM).

SMG is responsible for manufacturing, marketing, and selling lawn and garden products to consumers both inside and outside the US. It is through its gardening subsidiary, Hawthorne, that the company has a large stake in the marijuana industry. Growers specializing in cannabis cultivation can find a wide range of solutions for their business, including high-quality growing equipment. While it is true that there are several companies that offer the same service to cannabis growers, Hawthorne is considered one of the best.

And then there is HYFM, which, together with its subsidiaries, is responsible for the manufacture and distribution of agricultural equipment for controlled environments in both Canadian and US territory. Some of the company’s most notable products are indoor climate control equipment, different agricultural lighting devices, and a wide range of hydroponics. HYFM stock has been doing its best to maintain its upward momentum, even though it is considered a volatile marijuana stock.