Will These Marijuana Stocks Be Profitable Next Year?
As December continues to show growth potential for the cannabis industry some of the top marijuana stocks are reaching new highs. If you want to discuss the value of which marijuana stocks hold more then you need to do your research. If your style of trading is more short-term which can be challenging to identify this value. That’s not to say you can profit in the short term which does have value. It has more to do with how the market fluctuates due to volatility. Some investors don’t fear volatility because they focus on how to leverage it. Now if you can see the bigger picture of investing then understanding the benefits of a long-term strategy can play in one’s favor. Meaning if a given pot stock is down or low in price doesn’t mean a year from that time it can’t rise in value.
Although most pot stocks are a short term game having a long term position allows for the possibility to make substantial gains. Currently, the cannabis industry is growing at an exponential rate that is on course to see $34-#70 billion in the U.S. alone. With a projection like this long term investment, strategies may hold more potential value. Now, this is not a certainty, and doing proper due diligence is always key before investing. You don’t want to make a mistake and invest in something that has more risk than reward. So with this in mind always use caution and logic as tools to investing to make the best decision. Below we will go over 2 marijuana stocks to watch that offer investors different forms of value.
Top Pot Stocks To Watch In The Cannabis Industry
Marijuana Stocks To Watch Right Now: Canopy Growth Corporation (CGC)
Canopy Growth Corporation is one of the top Canadian marijuana stocks by market cap. The company at one time was one of the most popular marijuana stocks to watch. Back in 2014 Canopy was the first marijuana stock to be publicly traded in Canada and in 2018 CGC stock was listed on the NASDAQ. The company runs its operation by growing cannabis using indoor and greenhouse setups. As well as being the first cannabis company to work out a partnership with Global beer, wine, and spirits giant Constellation Brands Inc. (STZ Stock Report). Although the company has had its fair share of trouble they continue to show promise as we move into the future.
It seems as many marijuana stocks have recovered from lows several months ago CGC stock has been moving up in the market. If you look back over the last few months CGC stock has had a substantial uptick in trading. From the start of October to December 15th CGC stock has increased over 85%. In general marijuana stocks have been reaching new highs and consistently been trading up over the last 4-6 weeks. If you look at CGC stock price movement from November 4th to December 14th that’s an increase of 30% in last month alone. This upward momentum shows that the company holds value and interest among investors. So as Canopy prepares for the new year investors have value the company as a marijuana stock to watch
Marijuana Stocks To Watch Right Now: Aphria Inc. (APHA)
Aphria Inc. is another marijuana stock that over the last few months has had solid upward momentum in the market. Established back in 2013 Aphria has been hard at work with cultivating high-quality marijuana. Whats makes Aphria’s operation so unique is they use low cost grow setups to cultivate premium cannabis. The reason this is a unique process is shows the cannabis world you don’t need expensive sets up to produce a quality product.
Recently the company attended the 2020 Kind Awards. For those that don’t know The kind Awards are the largest consumer-facing cannabis awards in Canadian history. During these awards, Aphria Inc. made its presence felt by winning 6 awards which were the most awards given to one licensed producer. In a recent news update, Aphria has partnered with Tilray Inc (TLRY Stock Report) to establish the largest global cannabis company. This is a huge move for both companies that may influence other cannabis companies to do the same.
If you look at the close on December 14th APHA stock is up almost above 2%. Now if you look back a bit further you can see when the start of this upward momentum occurred. Since recovering from the crash earlier in 2020 not much has stopped APHA stock from climbing. From the start of November to December 15th APHA stock is up over 57%. This price movement goes to show that the green rush is still happing and it’s not too late to invest. Especially now that Canadian marijuana stocks are starting to pick up steam. As mentioned before there is no way to know how long this upward trend will continue. However, Aphria seems to be a marijuana stock watch if you’re are looking to add value to your current portfolio.
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