Will These Marijuana Stocks Reach Bigger Gains In 2021?
Cannabis stocks and the marijuana industry has many looking to get involved. Due to all the talk about federal cannabis reform and how well the sector is doing more people are looking to make investments. However, before you spend your money there are some things you need to know about the current climate of the cannabis industry. From mid-November, cannabis stocks have been picking up more trading momentum.
Some marijuana stocks rallied to the point where they have reached new highs. Also, some cannabis stocks to watch have picked up in trading to where more investors are taking a bigger interest. Yet much of this once again dependent upon cannabis legislation. Which has essentially led to better trading due to the speculation of what may happen with federal cannabis reform.
Now because of how volatile the cannabis sector can be there have been moments where the sector dips before reaching new levels. When this happens investors have developed a trading pattern of buying the dip and holding till it goes back up. Though this strategy is a bit simple buy low sell high is one that works with many styles of trading. In 2021 more states are planning to go legal which has the potential to work in the favor of MSO cannabis companies.
This because multi-state operators have the ability to carry its operation to other emerging markets. When the business does well for cannabis companies that are publicly traded most times it reflects well in the market. So far 2021 has given many cannabis stocks a solid upward push to start the year. Even though we are just getting started in 2021 there is much to be seen with marijuana stocks and the cannabis industry as a whole.
Pot Stocks To Watch This Year
- 4Front Ventures Corp. (OTC:FFNTF)
- Cronos Group Inc. (NASDAQ:CRON)
Since back at the end of October 4Front Ventures Corp. been able to sustain an upward push in the market. However, from late October to now some price fluctuation has happened. Yet overall the company has been able to produce gains for investors. From October 27th to November 5th FFNTF stock made a 27 percent gain. Pushing forward from the 5th to the 27th FFNTF stock was able to recover from small waves of volatility to see gains of 11 percent. For the entire month of November, FFNTF stock saw a total increase of 20 percent in trading.
When December came around trading for the company was hit by market volatility with small dips in trading. During that time FFNTF stock reached subtle gains of 9 percent. As the start of the new year came the company kept up its momentum during the first month of 2021. January 4th to the 11th FFNTF stock reached gains of 14 percent. The first month of 2021 produced gains of 15 percent which added to the momentum the company had in the following month. Currently FFNTF stock is up 58 percent in February which is a solid push to start the new year. This uptick in trading is a solid indicator of investors taking more of a vested interest in this marijuana stock to watch.
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Cronos Group Inc.
Since the start of November, Cronos Group Inc. has been able to bounce from the previous trading in 2020. November 3rd to the 6th CRON stock saw a nice jump in trading that produced gains of 24 percent. This set off the initial increase in trading that led the company to see bigger gains in trading. Moving forward from November 12th to the 30th CRON stock reached gains of 28 percent. This uptick in trading is partly due to the increase in cannabis sales in Canada amongst other factors.
The total gains made for November were 47 percent even though Cronos has a small downtrend during December’s trading. During this time CRON stock lost 16 percent in trading before recovering in the following month. As 2021 began the company like many other cannabis stocks started to rise in trading. January 4th to the 11th CRON had a solid boost in trading that made investors a 28 percent return on their investment.
As trading continued CRON stock hit 15 percent gains from the 12th to the 14 of January. Shortly after the 14th CRON stock dipped in trading but overall the company hit 36 percent gains for January. As February came around the company started to recover from the dip at the end of January. Right now CRON stock is up 20 percent in February and as things progress for the company has much room to grow in 2021. So with this uptick in trading for most of the sector investors are looking to spend their money on the best marijuana stocks to buy in 2021.
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