3 Marijuana Stocks To Watch Next Week
Now that 2021 is here many marijuana stocks are showing continued upward momentum. Just to recap a bit 2020 was a year filled with great potential and growth for many of the top marijuana stocks. Some marijuana stocks even reached new highs and were able to pull through the back half of 2020. Due to how the pandemic hit the world some investors thought it would be the downfall of many things including pot stocks. Over the last 6 months or so marijuana stocks like Green Thumb Industries Inc. (GTBIF stock report) have been able to battle volatility and still trade up in the market.
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During this pandemic, some cannabis stocks were having a tough time with volatility. This is partly due to investors trading off of fear and speculation that this pandemic has brought with it. This is in addition to the market trying to recover from lows earlier in 2020. From that time most of the top pot stocks in the cannabis industry have bounced back. Yet as mentioned above some have not. Now that it’s a new year many investors will be searching for the best marijuana stocks to buy. Especially with those that have trading down but still show solid growth potential as a company. Below we will discuss 3 marijuana stocks to watch that have been battling the market volatility all 2020.
Pot Stock To Watch Right Now
Aurora Cannabis Inc. (ACB Stock Report)
Cronos Group Inc. (CRON Stock Report)
Charlotte’s Web Holdings, Inc. (CWBHF Stock Report)
These Marijuana Stocks Could Move Up In The Market: Aurora Cannabis Inc. (ACB) #1
Aurora Cannabis Inc. is one of a few marijuana stocks that has seen better trading days. From the start of 2020 ACB stock was hit hard by market volatility along with the effects of this pandemic. Which played a part as to why most of this past year ACB stock has been trading down. From the start of 2020 to now ACB stock is down over 56%. However, some traders were able to capitalize off of this downtrend and profit off of small influxes.
For example, if you bought ACB Stock on May 13th when shares were $5.80 and sold on the 17th you would have made a 200% gain. Even though ACB stock dropped from this point once again ACB stock had another significant spike later in the year. During the month of November, ACB stock shot up by 146% before dropping back down by 28%. Now that it’s a new year some investors have been able to profit off of Aurora volatility and for that reason, some say this company is still a marijuana stock to watch.
These Marijuana Stocks Could Move Up In The Market: Cronos Group Inc. (CRON) #2
Cronos Group Inc. is another marijuana stock that has battling market volatility due to the uncertainty this pandemic has had. Yet with Cronos Group, more small subtle gains were made during 2020. If we look back just a few months you can see how some investors were able to buy shares of CRON stock before a spike in trading happen. For instance, if you bought shares at the end of October and sold on November 6th you would have made a 41% gain.
CRON is a better example of how at times market volatility can play in favor of the investors. Consistent drops and spikes in share price allow for more short term gains to be made. During this past year, CRON stock has had the type of price movent that gives investors the chance to get in at a fair share price. Now when a stock is consistently moving up and down at times that’s the uncertainty that can scare potential investors away. Luckily for those who bought CRON stock, it seems like this past year worked in favor of the short term investor.
These Marijuana Stocks Could Move Up In The Market: Charlotte’s Web Holdings, Inc. (CWBHF) #3
Last on our list of marijuana stocks that may move up in the market in 2021 is Charlotte’s Web Holdings, Inc. During 2020 Charlotte’s Web is another marijuana stock that was hit hard by market volatility. From the start of 2020 CWBHF stock started to trade down. It wasn’t until the middle of March when CWBHF stock started catching some better momentum. From the 18th of March to April 20th CWBHF shot up by 43%. This subtle gain is an indicator that even with market volatility investors are still finding interest in this marijuana stock to watch.
Although down from highs earlier in December Charlotte’s Web has been able to thrive in the consumer side of its business. As most know by now Charlotte’s Web is one of the leaders in all things CBD. They work with various CBD products that are meant for a wide range of illnesses. With this, the company is looking to bounce back to new highs. Now that the new year is here Charlotte’s Web is looking to build more momentum and remain a marijuana stock to watch in 2021.
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