Will These 2 Marijuana Stocks Climb Back Up In The Market This Month?
Many marijuana stocks are still feeling the impact of the up and down trading that is going on. Right now a good amount of market volatility has greatly affected the way the sector has performed. What this means is some days cannabis stocks are green and showing good market action and the next moment they are down. The way most marijuana stocks trade is done in an unpredictable manner.
This can be positive and negative if you know how to play it. For instance, when a particular marijuana stock is down it gives people a chance to buy top marijuana stocks at a cheaper price. Buying cannabis stocks at lower prices sets the tone of buy low and sell high. This can be a big positive especially when the market starts to recover. Now the negative side is when you buy shares of a company with the idea it will rise and due to how volatile the sector is shares drop even more.
With the current up and down market action in the cannabis sector, you want to take extra measures when looking to buy cannabis stocks in 2021. For one, you need to do your homework on each possible investment and keep a close eye on how they have been trading in the market. With all the current progress and overall growth of the cannabis industry, more people are looking to invest.
Currently, outside of the market, there is a lot happening that may impact the way marijuana stocks trade. These events range from cannabis legislation and the expansion of operations from a range of marijuana companies. In 2021 alone a lot of growth has occurred for legal cannabis overall throughout the U.S. Which has all played a part in seeing hints of momentum for marijuana stocks.
Top Marijuana Stocks To Watch Right Now
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Columbia Care Inc.
Columbia Care Inc. cultivates, manufactures, and provides cannabis-based health and wellness solutions, and derivative products. The company holds licenses in 19 jurisdictions in the United States and the European Union. It operates cultivation facilities, manufacturing facilities, and retail dispensaries. Sine May trading for CCHWF stock has been on a volatile downtrend. The initial start in May was done with a solid upward push on day one.
However further into the week, things began to chance for CCHWF stock. Trading from May 3rd to the 13th was when the company felt the impact of its downward trading. Yet before dropping even lower a small recovery period took place from the 13th to the 14th of May. Yet soon after the company would fall once more moving into the following month. When June started the company was still facing the same challenges as before. In June CCHWF stock was dealt a tough hand to play.
The entire month of June Columbia Care saw a big drop in trading for the month. At this time this caused some concern for current and future investors about the future trading for this marijuana stock. For trading in July, CCHWF stock caught some upward momentum which gave the company a chance to recover and investors the ability to take some profits. From July 1st to the 14th of the month CCHWF stock was able to generate a 14 percent increase at that time.
Final Thougths On CCHWF Stock
As trading continued in July the company was not able to sustain its upward climb and ultimately dropped back down. However at the end of July things once again started to pick back up for the company as trading in August is now underway. Even with CCHWF down once again, things may soon change for this marijuana stock to watch in 2021.
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Planet 13 Holdings Inc.
Planet 13 Holdings Inc. a cannabis company, cultivates, produces, distributes, and markets cannabis and cannabis-infused and related products for medical and retail cannabis markets in Nevada, the United States. It also operates dispensaries that provide cannabis, cannabis extracts, and infused products. As most know cannabis stocks are incredibly volatile when they trade and PLNHF stock is no different.
At the start of May trading for the company was looking good and PLNHF stock was trading up the first few days. Yet after the 5th of May things PLNHF stock began to lose its momentum and started to dip. Trading from the 5th of May to the 13th was a significant drop in the market for PLNHF stock. However, right after the 13th was also when PLNHF stock started to show signs of upward trading.
Starting May 13th to the close of May PLNHF stock was able to increase its market position by 11 percent before heading into June. When the start of June happened PLNHF stock continued to climb for the first 10 days of the month. During this time PLNHF stock saw a subtle gain of 3 percent in trading.
Even though some may see this 3 percent rise as small it also shows signs of growth potential in an unpredictable market. For most of June, the company was able to sustain its market position before trading in July took place. In July PLNHF stock was hit hard and started to fall for most of the month. Even with a slight uptick at the end of July the company was not able to finish July in the green. Currently in August PLNHF stock is still working on pushing back up in the market but only time will tell with this top cannabis stock.
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