2 Canadian Marijuana Stocks That You Should Know About In 2021
Marijuana stocks in recent trading have started to pull back up in the market. For much of the trading between mid-June to currently in July, the cannabis sector has been performing with more volatility. This fluctuation in price has left some days with a drop in trading. Those days when pullbacks occur in the market are a time when investors were buying more marijuana stocks.
Now with how the sector has been moving, it seems as more price fluctuation is going on. This up and down behavior in the market can build slight uncertainty. The reason behind the spec of doubt for cannabis stocks stems from the recent sector-wide downtrend. The current average trading level has dropped for marijuana stocks. So in the last 2 months when a pullback or any loss of trading happens it leaves some uncertain feelings about better trading.
Marijuana stocks overall trade in a volatile market which is already a big risk in that regard. Even with a good amount of due diligence done it still doesn’t entirely ensure that a good investment is being made. At times looking back at previous trading can give you good insight into whether a particular marijuana stock can bounce back. Currently, with cannabis companies releasing their most current earnings it’s resonating well amongst other marijuana stocks to watch.
In the cannabis sector when one company announces news about their financials or important updates, it can help drive more momentum into the sector. Investors are always watching for new opportunities in the cannabis industry. With more progress taking place in the industry investing in the future of the sector is looks to be promising. Right now the growth of the market and industry is still moving at a fast pace. Below are 2 marijuana stocks to watch in 2021.
Canadian Marijuana Stocks To Watch In 2021
- Aurora Cannabis Inc. (NASDAQ:ACB)
- Canopy Growth Corporation (NASDAQ:CGC)
[Read More] Top Marijuana Stocks To Watch In The US Cannabis Industry
Aurora Cannabis Inc.
Aurora Cannabis Inc. produces and distributes medical cannabis products worldwide. It is vertically integrated and horizontally diversified across various segments of the cannabis value chain. This included facility engineering and design, cannabis breeding, genetics research.
As well as production, derivatives, high value-add product development, home cultivation, wholesale, and retail distribution. The company produces various strains of dried cannabis, cannabis oil and capsules, and topical kits for medical patients. Back in the middle of May ACB stock went on a nice run that allowed shareholders to make a profit. ACB stock went from $6.86 on May 14th to $9.66 on the 28th of the month.
During this time this run made for gains of 40 percent which moving into June ACB stock was able to sustain. The upward momentum for ACB stock began to decline after the 9th of June. ACB stock began to dip back down in trading but right around the 18th of June trading began to look better for the company.
Yet the company was not able to keep this climb going and eventually continued its fall moving into July. The initial start of July was met with a loss in trading momentum which the ACB stock is still feeling. However, in current trading ACB stock is up and looking to sustain its rise as a new month of trading is around the corner.
[Read More] 2 Top Marijuana Stocks To Watch Before August
Canopy Growth Corporation
Canopy Growth Corporation together with its subsidiaries, engages in the production, distribution, and sale of cannabis and hemp-based products. Mainly for recreational and medical purposes primarily in Canada, the United States, and Germany. It operates through two segments, Global Cannabis, and Other Consumer Products. The company’s products include dried cannabis flowers, oils, and concentrates, and soft gel capsules.
CGC stock since May has been working on keeping any upward momentum they can find going. Yet the start of May was led by a drop in trading for the company. Heading into the midpoint of the month CGC stock was able to see a pick up in trading. This pick-up was a good start before moving into June. Although CGC stock was moving with some volatility at the start of June the company was able to hold its market position.
It wasn’t until after the 11th of June when CGC stock started to drop in the market. Nonetheless, even with a slight recovery from the 18th of June to the 28th, the company ran into issues keeping its momentum going. For trading in July CGC stock has yet to find any consistent upward momentum. In the first week of July trading for CGC stock did not look promising.
If you look at the current trading in July even with the small upticks in trading it was not enough to set off any sustainable rises in trading. Essentially the bulk of trading in July has resulted in a downtrend for the company. Yet as of late CGC stock is showing to be up in the market. With August almost here CGC stock may be able to keep its rise going as trading continues for this top Canadian marijuana stock to watch.
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