Will These Marijuana Stocks Pick Up More Market Momentum
On January 28th many of the top marijuana stocks to watch saw better gains. Back on the 27th, many cannabis stocks dropped in trading. Prior to this marijuana stocks have had some great momentum to start the new year. Currently, in the cannabis sector, many of the top pot stocks have been able to battle through volatility. Some feel this is a sign that now is a good time to start looking for the best marijuana stocks to buy in 2021. In addition to this because the cannabis sector is so volatile finding a good entry point may be easier than other sectors.
Yet like always you must keep watch and research each potential investment you want to make. You want to make sure that even when a stock dips down that historically it has a pattern of pulling up. This is a good indicator that you can get in a good share price and make a decent return on your investment.
Now again investing is all a risk so always do it with caution. As well you want to make sure that the company of your choosing is current with all of its updates. This keeps present and future shareholders update on all company info. Which can help them trade wisely when investing in pot stocks. Below are 2 cannabis stocks that are looking to build more momentum as the cannabis industry continues to grow.
Pot Stock Watchlist
Neptune Wellness Inc.
Neptune Wellness Inc. has been an interesting marijuana stock to watch during 2020 and into the new year. Outside of some upward momentum after March lows mid-2020 the company was trading down. Yet as the company was moving down in the market spikes in trading did occur along the way.
From July 9th to August 26th back in 2020 NEPT stock dropped 21 percent in trading. The following trading day in August NEPT stock was able to catch some momentum and post 11 percent gains. Shortly after this pull-up, the company started to dip again. When September 10th came around NEPT stock was able to see a small rise in trading.
From the 10th to the 16th of September NEPT had a 10 percent increase in the market. One of the positives about how volatile this company is investors have a chance to invest at low entry points. This allows investors the chance to see possible gains. The rest of September Neptunes was moving down in the market until October came around.
From October 1st to the 12th NEPT stock had a 27 percent spike in trading. Although NEPT stock started trading down from this point some investors were able to capitalize off this downtrend. December 4th to 6th over those 2 days of trading NEPT stock saw 14 percent gains.
Final Thoughts On Neptune Wellness Inc.
So far for the new year NEPT stock has been able to show some decent price movement. From the end of December to January, 21st NEPT saw a nice boost in trading with some investors seeing 24%. Yet shortly after NEPT stock dropped once more but was able to recover. Currently, Neptune Wellness is up 3% from the close on January 27th. As 2021 continues to bring in more gains some investors have left this marijuana stock on their 2021 watchlist.
GW Pharmaceuticals Inc.
Over the course of the last year, GW Pharmaceuticals Inc. has been one of the more interesting cannabis stocks to watch. Not just because the company produces one best seizure meds on the market. Which happens to be the only FDA approved CBD medicine on the market. It’s because of how the company has been able to perform in the market. Now some investors and analysts might not be a fan of this marijuana stock.
However there a many who do believe this is a solid cannabis stock to watch. Regardless of its current legal battle with Canopy Growth Corp, the company has been able to produce some solid gains. Like many other marijuana stocks after the crash back in March GWPH was able to have a nice climb in the market. When August came around GWPH was facing a pattern of trading down in the market. It was not until the start of November when GWPH stock began to pick up in trading.
November 2nd to the 30th GW picked up a large amount of momentum. At the end of November GWPH Stock had 56 percent gains. This uptrend did last for too long before GWPH stock dropped percent 17 in December. Yet from this time frame, the company started to pick up in trading. So far in 2021 GWPH stock made 28 percent gains. Now with its recent trading history there no telling how long this uptick may last. Furthermore, if GW can sustain its trading the company may be in the position to push higher in the market.
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