2 Marijuana Stocks To Watch This Month
Over the last few months of trading, many marijuana stocks have dropped in trading. However, in the last 2 weeks of April cannabis stocks have slowly started to find more momentum. Mid-February to mid-April many marijuana stocks have been facing a downtrend in the sector. During this time it provided an opportunity for other people to invest in the cannabis industry. Many of the top-performing marijuana stocks from this period were trading at lower price points which allowed some to capitalize on this buying opportunity.
This ranges from U.S. cannabis companies to Canadian cannabis companies. Then the entire sector became a buying frenzy. However, in the last 2 and a half months uncertainty amongst shareholders became evident. Due to how long this downward pattern of trading occurred some investors decided to cut their losses and sold their position. This also played a part in how some cannabis stocks continued to trade down. Yet for the shareholders that have held their position, better returns may soon follow as more momentum enters the sector. The cannabis industry as a whole has evolved into something that businessmen and advocates have only dreamt about.
At one point in time, the thought of legal cannabis was a taboo subject to speak on. Now in 2021, it’s one of the biggest industries in the world and still growing. Though not federally legal yet cannabis legislation have come a long way since its inception. As well more than half of the United States has legalized cannabis to some degree in addition to possibly seeing federal cannabis reform. l Right now the cannabis sector beyond just marijuana stocks is thriving and furthering its growth at a fast pace As a new month of trading gets underway many feel May will bring with it some better market action.
Marijuana Stocks To Watch In May
Green Thumb Industries Inc.
Green Thumb Industries Inc. has been one of the better marijuana stocks to watch for some time now. The continuous growth of the company has only been matched by a small few. This ranges from new ventures to market performance. Yet even while trading down over the last few months GTBIF stock has still sustained a solid market level for future gains. In the last 2 months of trading GTBIG stock has been slowly working its way to better trading. From the start of February GTBIF stock looking well with a nice rally in trading for the first week and a half of the month.
Toward mid-February end of April GTBIF stock was moving down in the market. Yet in the last week of trading GTBIF stock has started to show some upward momentum in the market. From April 20th to the 30th the company has been able to climb to a higher market position to close out April. During this time GTBIF stock went from $26.82 to $32.00 a share making for a 19 percent increase heading into May. As more momentum continues to build for GTBIF stock shareholders are on the watch for better trading to continue moving into next month.
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Cresco Labs Inc.
Cresco Labs Inc. is another cannabis stock that has been one to follow over the last few months. CRLBF stock is a bit more of a volatile play and during this recent downtrend has fluctuated in pricing more than other marijuana stocks. Looking back at March and CRLBF stock was facing a loss in momentum that led to a drop in trading. This drop lasted essentially for the whole month of March. However, at the start of April CLRBF stock had a boost in momentum that helped the company reach a better market level. From March 30th to the 5th of April CRLBF stock saw an uptick in trading.
This upward push generated gains of 17 percent in the begging of the month. From this point, CRLBF stock started to dip down in trading. This drop lasted till the 20th of April and then the company was able to catch a wave of momentum that helped the company rise once again. Trading from April 20th to the 30th CRLBF stock was able to rise in the market by 15 percent. This helped show shareholders that the company is able to overcome market events that can lead to a drop in performance. As mentioned above in the last week of April better trading has taken place for the company. Heading into May shareholders have great hope for what’s next to come as more progress continues for the cannabis industry.
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