2 Marijuana Stocks Investors Are Watching Heading Into May
As marijuana stocks start to pick up in trading are investors taking profits? Marijuana stocks like MariMed Inc (MRMD Stock) and Planet 13 Holdings Inc (PLNHF stock) have started to pull up in the market. With this, some investors have taken small profits while others are holding their position. The reason for this is because some investors feel a bigger climb is due to happen sooner than later.
For some cannabis stocks, the start of 2021 came with a strong upward push in trading. For other cannabis companies, it was met with a great deal of volatility. Never the less a big part of the downward push in trading happened shortly after mid-February and it continued to the end of April. Shareholders are staying patient and keeping an eye out for any market activity that may lead to better trading. Now some of this down trading can be connected to shareholders selling off shares due to fear and uncertainty.
As well once prices started to drop even further many of the top marijuana stocks in the market were able to purchase at lower prices. This allowed many seasoned and new investors to not only take advantage of the market but get invested in the cannabis space. Over the last year, some marijuana stocks have climbed tremendously even in the middle of a downtrend they still hold a decent market level.
Cannabis Stocks And Market Updates
As we start the last week of April investors feel May will bring with it some much-needed overall momentum. Now nothing is certain but as some cannabis stocks begin to rise again hopefully this positive sentiment can resonate with other marijuana stocks. The marijuana companies mentioned below are good examples of cannabis stocks to watch as investors hope to see better trading in May.
Marijuana Stock To Watch Right Now
Trulieve Cannabis Corp.
Trulieve Cannabis Corp. has earned its spot as not only a top marijuana stock to watch but a top-performing cannabis company. Over the last year, Trulieve has been able to supersede most in the space. Back in November, the company posted solid 3rd quarter earnings as well as its most recent Q4 earnings back in March. Even in the midst of a global pandemic the company has continued to expand and thrive as a business, Up until recently this reflected well with how TCNNF stock performed in the market. From November to now TCNNF stock has shot up 54 percent.
If we look back over the last year TCNNF stock has increased its market position by over 270 percent. Currently, Trulieve has over 80 stores nationwide and recently made 420 a special moment by opening 2 new store locations. The progress the company has made puts them as one of the top-performing cannabis stocks to watch. In more recent trading TCNNF stock has started to see a small pick up in trading. With May right around the corner investors are keeping watch to see what will unfold for TCNNF stock.
Jushi Holdings Inc.
Jushi Holdings Inc. over the last several months has shown a great amount of market volatility. Still JUSHF stock has still been able to see a nice rise in trading before the recent downtrend. In recent news, the company announced certain unaudited 2020 Q4 results and full 2020 financial results.
Some things to highlight are the company’s fourth-quarter 2020 revenue went up 30% sequentially to revenue of $32.3 million. As well the company also opened three new retail dispensaries and exercised an option to purchase an additional three dispensaries. Another thing to mention is the company in 2020 had a total revenue increase of 690 percent. This made for a year-over-year increase to $80.8 million.
“While we’re disappointed by the unexpected delay that our auditors have experienced in finalizing their work, we’re thrilled with the underlying strength of our business, the robust growth we have achieved in 2020, and the continued momentum we have seen into 2021,” said Jim Cacioppo, Chief Executive Officer, Chairman and Founder of Jushi. “2020 was a defining year for the Company. Our strategy to rapidly build scale in the best limited license markets on both the East and West coast combined with our focus on operational excellence has driven strong financial results on both a sequential quarterly and year-over-year basis.” Mr. Cacioppo continued.
In the last 2 months of trading JUSHF stock even on a downtrend had moments where volatility played in the company’s favor. For instance, Much of March JUSHF stock continued to drop but also had small spikes in trading. Look at March 5th to the 15th JUSHF stock jumped up 21 percent in trading before dropping once more.
Final Thoughts For JUSHF Stock And Market Performance
Then at the end of March moving into April JUSHF began to recover once more. This upward push is happening while other cannabis stocks continue to fall. Currently at the end of April JUSHF stock is finding more momentum that has led to another jump in trading. With great anticipation for a bigger recovery, investors are still keeping an eye on this marijuana stock to watch
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