These Marijuana Stocks May See More Momentum In May
With the start of a new week for marijuana stocks, investors remain optimistic about seeing better trading this month. Looking back since the start of the new year and it’s been a ride for the cannabis sector. At the start of 2021, many cannabis stocks saw a jump in trading and for some, it was short-lived and for others, it continued into the following month. With cannabis stocks being in a volatile market at times it can bring a lot of uncertainty as the price movement of a marijuana stock can be unpredictable. So in the first 10 days of February just like the start of January, many marijuana stocks saw a nice rally in trading. However soon after the sector began to fall.
Even though many marijuana stocks at the time dropped In the market it gave others a chance to buy top marijuana stocks at lower entry points. Even looking back as far as October to December the sector displayed a fair amount of volatility that led to many marijuana stocks dropping in trading. Yet from this investors would buy the dips and during this time the sector was able to recover a bit quicker. Much of this buy the dip and rise in trading at the time came from a great deal of speculative trading during the presidential election on the promise of federal cannabis reform. Currently, the sector is just rebuilding its trading momentum as many cannabis stocks have started to climb once again.
Cannabis Industry And Marijuana Stock Updates
The progress of the cannabis industry is moving and expanding at rate other industries can not match. Just in the last year not only have a record amount of money been invested into the industry but also in a record amount of revenue from legal cannabis sales. Many more states or preparing to go legal adding to the list of legal States. Investors have a big focus on the U.S cannabis industry especially with political leaders working to pass a bill in regards to federal cannabis reform. Not only that recently the SAFE Banking Act. Has once again has been passed by the house and is waiting for the Senate to cast its vote.
Beyond federal reform, at the state level, many places around the United States have established their own rules and regulation in regards to legal cannabis. However, legalizing cannabis on a federal level would allow for cannabis companies around the world to do business in the U.S. Some analysts have gone as far as to say on when federal reform is enacted in the U.S. it may be a potential factor in helping Canada’s cannabis market thrive even more. Not to mention a possible rise in trading for marijuana stocks. So with much more in the works for the industry 2021 is looking like a promising year for the cannabis industry. As well a good year for most marijuana stocks overall. The cannabis stocks mentioned in the content below are examples of possible plays to consider as trading in May is now underway.
Marijuana Stocks To Watch In May
Green Lane Holdings Inc.
Green Lane Holdings Inc. has been one of the marijuana stocks that as a company shows great promise. However, in the market GNLN stock has had a bit of trouble finding more momentum. Much of the company’s market performance has been volatile in the last few weeks. Back at the start of April GNLN stock was able to show some type of upward push in the market.
One of the bigger ventures for the company is teaming up with Kushco Holdings Inc. This was done to make one of the biggest ancillary cannabis companies in the industry. Now that May is underway investors are keeping watch to see what will happen this month for GNLN stock.
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Innovative Industrial Properties, Inc.
Innovative Industrial Properties, Inc. is a cannabis company that works in a unique niche. The company works in marijuana real estate this done by purchasing various properties and facilities. Then the company leases them back out to licensed marijuana professionals. In recent trading IIPR stock is trying to make its way to better market levels. Now IIPR stock is a volatile play like many other cannabis stocks. Yet just like GNLN stock the company was able to push up in the market when other stocks were down.
From March 8th to the 17th IIPR stock was able to see a small recovery period. This happened in a time when most stocks were trading down. Furthermore, this was short-lived as the end of March IIPR dipped once more. However, at the start of April IIPR started to rise again before dropping at the end of the month. With a new month of trading already started IIPR is looking to build more mentum in May.
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