2 Marijuana Stocks That Are Working On Building More Momentum
With marijuana stocks trading back down this leaves investors and current shareholders in a tough place. For those looking to invest this dip may offer a chance to find top marijuana stocks to buy at lower entry points. However, those who currently hold a position with one of many cannabis stocks are starting to build more uncertainty. This current downtrend in trading was starting to look as if it was on its way out towards the end of April.
Yet so far in the first week of April marijuana stocks are starting to dip back down. However, some analysts feel this won’t last all month as some cannabis companies are getting ready to release their earnings. At times when marijuana companies release positive financial results, it can positively impact the way the cannabis sector trades. Yet even as the market dips further some cannabis stock still hold a higher market position than at the start of 2021. What this means is as better trading comes into the sector some cannabis stocks to watch may recover sooner than others.
One of the important things to remember when investing in pot stocks is the market is unpredictable and having patience and a game plan is key. For instance like now eventually, the sectors will recover at some point, and being patient and not cutting your losses may result in a better return. With how quick cannabis stocks can fluctuate in the price you want to take advantage of a time like now. This is so you can be better positioned for when the sector begins to rise. Just make sure you due to your homework before investing and create a game plan that allows room for any market changes. Looking at the cannabis stocks below are 2 companies to watch this month.
Marijuana Stocks To Watch Right Now
MediPharm Labs Corp.
MediPharm Labs Corp. a global leader in specialized, research-driven pharmaceutical-quality cannabis extraction, distillation, and derivative products. In recent news, the company has grown its global portfolio for turnkey manufacturing and distribution solutions. This has led the company to a new supply deal that has been reached with MT Pharma in Malta.
“The global cannabis marketplace continues to grow at a rapid pace which is prompting established pharmaceutical, wellness and brand companies to enter the industry. Many have chosen to develop products, secure a GMP certified supply chain and open distribution channels through a partnership with MediPharm,” said Keith Strachan, President and Interim Chief Executive Officer, MediPharm Labs. “We are proud to be the provider of choice for pharmaceutical and wellness companies in 9 countries and counting.
Over the last few months, MEDIF stock has been struggling to sustain any upward trading. Right after the first week or so of February MEDIF stock started to fall in the market. From the end of February to now MEDIF has dropped 27 percent in trading. Currently in April MEDIF stock is still having issues with finding better trading momentum. Shareholders hope to see some progressive changes are in the works for the company. As well with May officially underway some feel more momentum will soon enter the sector.
Fire & Flower Holdings Corp.
At the start of 2021, Fire & Flower Holdings Corp. had some trouble reaching better market levels. Much of trading back in January was not like other cannabis stocks that took off from the start. However, when February came that was when FFLWF stock began to bounce. From February 1st to the 10th seemed to be a big boost in trading for the FFLWF stock and other companies as well. During the first 10 days of February FFLWF saw gains of 67 percent. Right after the company had a small dip before shooting back up on the 16th.
However, right after mid-February FFLWF started to drop once again. Yet this drop was more volatile meaning small spikes did occur to where it wasn’t a big loss in In the company’s market position. However, entering into March and FFLWF stock was not able to keep that same market level and eventually fell even more. Although back in mid-February before the company fell that rise in trading gave shareholders a period to take some profits and then purchase more shares at a lower price.
In April the company had small moments of upward trading that once more displayed more volatility than anything. Looking at March 30th to the 9th FFLWF stock was able to reach gains of 20 percent. But like many other cannabis stocks, this uptick only lasted a short time. From the 9th to the 20th of April FFLWF dropped 21 percent in the market but has since then slowly began its climb back up. Currently in May FFLWF is down but investors feel this month there is a chance for more momentum to help lead to a better market position.
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