2 Cannabis Stocks To Watch Before Next Month
Currently, in the cannabis sector, marijuana stocks are a hot niche right now. It has left many people looking for the best cannabis stock to buy next month. Many of the top cannabis stocks in the market have been performing well. For instance, Jushi Holdings Inc. (OTC:JUSHF) Cresco Labs Inc. (OTC:CRLBF) in January have both seen 20% gains. Most of this influx started back in 2020 around November. This was during a time when elections were going on and more states went legal along with talks of federal cannabis reform. This led to sure of momentum that is still running its course in 2021.
In fact, many top marijuana stocks from mid-2020 to now have been on an upward rally. However, some cannabis stocks have dipped slightly. Yet they haven’t dropped so low that they are not still considered marijuana stocks to watch. For instance cannabis stock Planet 13 holdings (PLNHF has dipped 11% since January 11th. Since mid-November, this marijuana stock has been climbing in the market.
Some investors see this as a good entry point with the possibility of PLNHF stock seeing more gains in 2021. Overall the start of the new year has provided renewed interest in the cannabis sector. As well as the possibility of federal cannabis reform many states and cannabis companies are prepping for the future. Below are 2 marijuana stocks to watch in 2021 that look to be top gainers in the market.
Marijuana Stocks To Watch
- TerrAscend Corp. (OTC:TRSSF)
- Aphria Inc. (NASDAQ:APHA)
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TerrAscend Corp.
TerrAscend Corp. is a cannabis company that holds a unique place in the marijuana stock world. This cannabis company is known as one of the top vertically integrated cannabis companies in North America. Currently, TerrAscend Corp. has operations spread out across the United States. Some of these locations include New Jersey, and California to name a few. This is in addition to operating as a licensed producer in Canada. The company runs an award-winning chain of cannabis stores.
As well they run a cultivation and processing operation. This is also spread out between the East and West Coast. TerrAscend prides itself on having a solid cultivation practice. Meaning TerrAscends cultivation and processing practices yield consistent high-quality cannabis. This provides a top-shelf product selection to both the medical and legal adult-use market. Throughout the last 2 months trading has started to pick up for the company.
In the first week of this past December TRSSF stock made some subtle gains. From the 1st of December to the 8th TRSSF stock saw 9% gains in trading. Although from this point the stock dipped down by 17% from the 8th to 15th. However, TerrAscend was able to recover. On the 15th TRSSF stock was at a share price of $8.78 and shot up to $10.18 a share on the 18th. This made for a 15% gains during this time. Furthermore for the rest of December TRSSF stock mostly traded sideways before trading up in January. So far in January, the company has been able to fight market volatility and show gains of 30%.
Aphria Inc.
Aphria Inc has been on many cannabis stocks watchlist for quite some time. Aphria has recently made one of the biggest moves in the cannabis industry. Its recent announcement about its partnership with Tilray Inc. has attracted a lot of new attention. Currently, this agreement has made both Aphria and Tilray the largest cannabis company in the world.
There is much anticipation surrounding this new deal as other cannabis companies look to follow suit. In recent news, Aphria announced it will be introducing its strongest cannabis topical. This product will soon be available throughout Canada’s cannabis market.
“Adding topicals to our Solei® brand product line up is a natural expansion, and an exciting format offering for Aphria. Topicals are one, if not the most, accessible cannabis format available today, making it appealing to a large segment of consumers,” said Irwin D. Simon, Chairman and Chief Executive Officer, Aphria Inc. “We are listening to the needs of our consumers. The team worked hard to create a cream with a range of premium scents, providing a compelling and relevant product for consumers.”
Aphria Market Performance
Throughout mid-2020 to 2021 APHA stock has picked up more market momentum. From the start of last November APHA stock started to trade up in the market. November 2nd to the 18th APHA stock saw gains of 26%. Pushing forward throughout November from the 19th to the 30th APHA stock continued to push up in the market with an increase of 36%.
This market movement has shown investors that Aphria has solid growth potential. Especially with its recent partnership that is expected to blossom into big business opportunities. In January APHA stock like many other cannabis stocks were able to continue its upward climb despite market volatility. So far in 2021 APHA stock us up 80%. Gains like this show new or seasoned investors that the company is marijuana stock to watch heading into future