2 Marijuana Stocks To Watch That May Be Worth The Investment
Marijuana stocks are working to push their way back up in the market. Over the last month of trading, cannabis stocks started to face a downtrend in the market. At the end of February and at the start of March, some marijuana stocks have fallen in the market. Some of the decreases in trading stems from other sectors of the market impacting the market as a whole.
The other comes from the uncertainty of cannabis legislation on a federal level. Right now a great deal of speculative trading is going on with the idea that cannabis will be federally legal. Investors are putting their money in as many things cannabis as they can. The reason for this is once marijuana becomes federally legalized it may be difficult to invest at the level you can now.
This is why people are putting a record amount of money into the cannabis sector. The big focus in 2021 is the U.S. cannabis industry. Part of the reason for this is the amount of growth that has occurred since states started going legal. With more states that go legal in some form, it will add more value and revenue. Currently, investors are waiting for earnings to come out and this may impact how some marijuana stocks trade on that day.
One thing to note is that when news or industry updates are released it can have a possible effect on the sector. Now when it’s good news most times it reflects well with how other marijuana stocks perform in the market. So as investors keep watch of the market and earnings there is still time to find marijuana stocks to buy this month. The 2 cannabis stocks below are 2 companies with possible growth potential in 2021.
Marijuana Stock Watchlist 2021
Green Thumb Industries Inc.
Since mid-2020 Green Thumb Industries Inc. has been a top marijuana stock to watch. Not to mention it’s been one of the better performing marijuana stocks that have been able to sustain its upward push in the market. In just last the 6 months GTBIF stock has had a 161 increase in trading. Back in 2020 the company set in place different business ventures one being a partnership with the cannabis brand Cookies.
This business deal helped set in motion a great future potential for the company. At the start of the new year, GTBIF stock was able to keep its rise up in trading even with a small dip in the middle of January. When trading in February began GTBIF stock started to trade up to even higher market levels. There was so much momentum that is caused GTBIF stock to hit new all-time highs on the 10th of February.
However, dropping from this point the company closed out the month with a decent increase in trading for the entire month. In the beginning of March, things started to dip once more which why currently why investors are waiting to see a possible bounce for GTBIF stock.
Many analysts have said that Green Thumb is a highly favored marijuana stock to buy that has shown its ability to recover well in the market. So as the company looks to keep growing in the cannabis industry the company is still one of the better marijuana stocks to watch in 2021 based on past market performance.
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Cresco Labs Inc.
Cresco Labs Inc. has been one of the more interesting cannabis stocks to watch in the last 6 months to a year. From the start of September 2020 to the end of November CRLBF stock hit gains of 57 percent showing strong price movement for this time. In December CRLBF stock ran into a bit of trouble sustaining its November push. This loss in momentum resulted in the company trading a bit flat with a slight drop in trading.
Now when trading in 2021 began CRLBF stock had a nice run in the first 3 weeks of January. From the 1st of January to the 22nd CRLBF stock made gains of 36 percent before dropping the rest of the month. The following month CRLBF stock once again was able to recover from its drop in January. In the first 2 weeks of February, CRLBF stock had a 37 percent increase in trading.
From this point, the company did drop in trading even currently at the end of March. Now there is a chance to see a possible bounce before the end of the month which would be a good momentum driver heading into April. So for now investors are keeping watch on the company to see if better trading can happen rather sooner than later.
There is much anticaption for future trading of marijuana stocks. Because of this, it’s important to always stay up to date on what’s happening in the market. Especially for those who like to trade in a volatile market such as marijuana stocks