Will These Cannabis Bounce This Week?
Marijuana stocks during the last half of February started to have a downtrend in trading. This has left many investors looking for marijuana stocks to buy off the dip. Now for those who may not be an experienced trader, a dip is when a stock starts to drop in the market to a lower share price. When this does happen it be a good chance to find cannabis stocks at a bargain price before a possible bounce enters the market.
Yet for those who are not as educated on trading and various strategies buying off the dip may not be a simple as it seems. However, buying off the dip essentially means buy low and sell highs. This trading method is one of the basics to investing in marijuana stocks let alone any publicly traded company. Just because a particular pot stock has dropped in trading does not mean it will go back up again.
A good way to feel safe in buying marijuana stocks off the dip is to look at its past trading history. Most times if a cannabis stock has a history of recovering from its lows then it may be a good cannabis stock to buy. Now with how volatile cannabis stocks can be it may be tough to know which stock will bounce sooner than later. That’s why making sure you conduct proper due diligence on each marijuana is important when looking for marijuana stocks to buy.
With the drop in the cannabis sector, March may be the time to start building a portfolio of pot stocks that may reach higher levels in the near future. The cannabis stocks below may start to recover from February lows this month. For now, investors are still keeping watch on the market to see what unfolds this month.
Cannabis Stocks To Watch This Month
HEXO Corp.
HEXO Corp. is one of many marijuana stocks that over the last 6-8 weeks has been trying to pick up in trading. The end of November leading into December was the initial start to the company having a slight rise in the market. Yet most of the trading in December was on a downtrend after the first half even though HEXO stock closed December up by 16 percent. When trading started for 2021 HEXO stock began to rally the first 2 weeks of the new year.
Trading for the 4th of January to the 8th HEXO stock produced gains of 20 percent which was a good way to set off the new year. The following week in January HEXO stock was able to keep up its momentum to reach even bigger gains. From the 8th to the 15th of January HEXO stock shot up by 50 percent in trading this made for a total 80 percent increase for the first 2 weeks of trading in 2021. From this point, the company dropped in trading at the end of January. 
However HEXO stock was still able to close out January at a higher share price than when it started. The start of February brought with it a boost in trading which allowed the company to start climbing once again. In the first week of February, HEXO stock went from $6.27 a share to $7.80 a share on the 5th for a total gain of 24 percent.
Final Thoughts On HEXO Stock And Market Performance
Pushing forward HEXO stock from the 5th to the 10th was able to rally up even further. During this time HEXO stock reached gains of 31 percent. This allowed some investors to see a decent return before the company dropped in trading. Currently in March HEXO stock has dropped from February highs but is still above trading levels in January. With much in the works for the industry, investors are still keeping an eye on HEXO stock.
[Read More]
- Will These Marijuana Stocks Begin To Recover In March
- Are You Buying This Dip In Cannabis Stocks? 2 Marijuana Stocks to Watch Next Week
Cresco labs Inc.
Cresco labs Inc. is one of the few marijuana stocks that since October has displayed great growth potential. Since that time CRLBF stock has been able to keep moving up in the market despite small dips in trading. As mentioned above CRLBF stock is a good example of a company with a trading history of recovering from dips. The start of the company seeing a significant climb in the market happened back in November. In this time, CRLBF stock was able to climb 30 percent for November before heading into December. 
During December CRLBF stock traded a bit sideways before the start of the new year. For most cannabis stocks the start of 2021 brought a big boost in trading for the sector. In the first week of 2021 CRBLF stock started to rally in trading reaching gains of 7 percent. In the second week of January CRLBF stock was still able to hold its momentum and keep trading up. From the 8th to the 22nd of January CRLBF stock kept moving up and reached gains of 26 percent.
This initial start to 2021 was a good push that helped shareholders see returns on their investments. At the close of January, the company started to drop in trading before recovering in the following month. When trading in February started CRLBF stock started to shoot up once again. This spike in trading happened before dipping at the last half of the month. Many cannabis stocks are looking to recover from February lows. With this investors look for more marijuana stocks to buy off the dip.
MAPH Enterprises, LLC | (305) 414-0128 | 1501 Venera Ave, Coral Gables, FL 33146 | new@marijuanastocks.com
