2 Marijuana Stocks To Watch Next Month That May Find More Momentum
As marijuana stocks fight to sustain their recent upward push some cannabis companies have started to drop once again. Now some analysts feel this may be a small dip before the start of May. Which some feel will bring better trading as April comes to an end. Many cannabis stocks over the last few months have has trouble reaching higher market positions. Yet over the last week of trading, more momentum has started to creep back into the sector. Heading into May some cannabis stocks are getting ready to release their earnings.
Depending on how well some companies perform may resonate well for other cannabis stocks. Right now is a big time for the cannabis industry as much progress has taken place. For instance, there is a big push for federal cannabis reform amongst advocates and congress. Also with more states going legal and creating new markets it puts a bit more pressure on Congress to enact some form of policy change. In 2020 alone the U.S. cannabis industry generated more than $17 billion between medical and recreational cannabis sales. This has also caused more people to take an interest in the cannabis sector to which more people than ever have invested in the sector.
During this recent downtrend, many people were able to find top marijuana stocks to buy at lower entry points. This helped many new investors to become part of the industry without actually owning a marijuana company. When it comes to pot stocks it takes time and patience along with heavy due diligence. You always want to make sure you have done your homework on each cannabis stock before investing. As the cannabis sector proceeds to grow further 2021 continues to look like a promising year for the industry overall.
Marijuana Stocks To Watch Right Now In 2021
Curaleaf Holdings Inc.
Curaleaf Holdings Inc. as said by some cannabis stock investors holds more long-term value. This may be due to the fact the company is still growing and working on different ventures that may take more time to yield results. At the start, od=f 2021 CURLF stock was able to sustain its new year momentum which led to better trading at the start of January. Yet 2 weeks into 2021 and CURLF stock declined the rest of January. However pushing into February and in the first 10 days of the month, the company was able to see a small recovery period of better trading.
During this 10 day rally, CURLF reached gains of 27 percent. This upward push helped shareholders to take profits before the next drop that soon followed. Right after this rally CULRF stock started to fall once more moving into March. In the first week of March CURLF stock continued to fall but from the 8th to the 9th a bit of momentum helped the company see better trading for the day. Now CURLF stock did drop once again but before falling completely some small spikes did occur.
Unfortunately, the company was not able to keep its momentum going fell the rest of March. Trading in April for CURLF stock followed the same pattern as March as the company was not able to pull up. However, in the last few days, CURLF stock did have a moment of upward trading but was not able to sustain it. The hope for shareholders is that May brings with it some much-needed upward momentum.
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Harborside Inc. holds a special place amongst other cannabis companies in the industry. This is becauseHarborsidewas one of the first companies to be granted a license in the state of California. In recent news, the company has released its fourth-quarter and full-year 2020 financial results. During this time the company full year 2020 Gross Revenues Expand 29% Year-Over-Year to $63.4 Million. As well the company’s full-year 2020 adjusted EBITDA grew to $7.4 million from an adjusted EBITDA loss of $8.9 million back in 2019.
“2020 marked a turning point year for Harborside. Despite experiencing a pandemic, we worked hard to better serve our customers, improve and scale our cultivation operations, increase the availability of our branded products and create a strong foundation for future growth”(1) said Matt Hawkins, Chairman of Harborside.
Over the last 2 months of trading HBORF stock has been a bit volatile. Like many other cannabis stocks, the first week and a half of February came with an upward push in trading. Also like other cannabis stocks this rise in trading was short-lived as the HBORF stock fell shortly after the 10th of February. From this point, HBORF stock continued to fall the rest of the month as well as much of March. However, during March there was a small spike in trading but ultimately HBORF stock was not able to keep its upward climb going. For trading in April HBORF stock has recently seen a small uptick trading but currently is facing trouble keeping it going. With May quickly approaching shareholders a keeping watch for any changes that may lead to better trading.
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