Will These Marijuana Stocks Reach New Highs In 2021
?As the new year fast approaches, it looks like more marijuana stocks are continuing to move up in the market. Earlier in 2020, this pandemic was almost the cause of marijuana stocks dropping down in price. However, over the last half of 2020, we have witnessed a push of upward momentum that help cannabis stocks rise in value. While part of this is due to increased demand for marijuana, along with speculation concerning the future of the industry. As well investors seem to be finding ways to profit off of finding the best pot stocks to buy in midst of this pandemic. Currently, things still haven’t calmed down just yet but that hasn’t stopped the cannabis industry from growing.
During this pandemic, we have seen more people invest off of fear versus understanding where the most value lies in a given cannabis company. Now although most pot stocks have been seeing better market movement trading off of fear is not a good idea. Currently, some analysts have suggested some marijuana stocks to buy may be better for the long term instead of the short term. However, when investing in marijuana stocks the short term is the preferred trading strategy. Below we will discuss 2 marijuana stocks that offer growth potential as head into the new year.
Marijuana Stocks To Watch In 2021
Will These Marijuana Stocks Gain More Momentum: Cansortium Inc. (CNTMF)
Cansortium Inc. is one of a few marijuana stocks that have been hit hard by volatility. However, that hasn’t stopped this cannabis stock from making gains in the market. From the end of October to November 6th CNTMF stock had a 35% increase in trading. Moving forward the company was able to work through market volatility for most of December. If you look at the 1st of December when shares of CNTMF were $0.44 and sold on the 9th you would have made a 13% gain on your investment. The good thing about gains like this is as long as oCansortium can sustain this level in the market every gain adds up. Even though CNTMF is down from its recent high overall for the month of December CNTMF stock is up over 50%.
In recent news, the company has announced that it has opened its 24th dispensary in Fort Pierce Florida. This new location will make it the company’s 6th retail dispensary that has opened in 2020. This kind of progress is what investors want to see when searching for marijuana stocks. They want to see that current business operations are leading toward continued growth which leads to more money being made.
“We are very excited to open our 24th Florida dispensary and sixth of 2020 and bring Fluent-branded products to the people of St. Lucie County. Based on the store’s opening day, we believe this location will be a strong performer.” Said Cansortium’s Chief Executive Officer, Robert Beasley.
Will These Marijuana Stocks Gain More Momentum: Innovative Industrial Properties, Inc. (IIPR)
Innovative Industrial Properties, Inc. is quite a unique and innovative marijuana stock. The company operates by working in the cannabis real estate niche. The company works by purchasing properties, and facilities in the form of REIT then leases them to experienced, state-licensed operators for their regulated medical-use cannabis facilities. What is interesting about this business model is the more states that go legal the more land and facilities will be needed to start or expand operations. This is where a company like Innovative Industrial Properties comes into play to provide this kind of service. Some believe marijuana real estate will be a big industry in the near future.
Over the last 2 months, IIPR stock has had some solid price movement.
From the start of August is when IIPR stock began trading up in the market. Furthermore, since that time has been continuously building more momentum. Beyond just speculation, a good amount of this recent uptick may be due to the company’s recent venture by purchasing a property in Georgetown, Massachusetts as well as a property in Olympia, Washington. This deal was made with the intent of leasing each property with a subsidiary of 4Front Ventures Corp.
“We are excited to welcome 4Front to our premier tenant roster,” said Paul Smithers, President and Chief Executive Officer of IIP. “4Front has developed a strong footprint in their core operating markets, with a proven ability to execute and deliver a wide variety of high-quality, consistent cannabis products on a large scale. We look forward to continuing to support 4Front as they deepen their operations and strategic relationships in existing states and expand into new ones like California.”
2 Marijuana Stocks To Buy or Sell In 2021?
Currently, Innovative Industrial Properties, Inc. and Cansortium Inc. are both marijuana stocks that have shown promising growth during 2020.
Each one of these above marijuana stocks were able to battle volatility and achieve some decent price movement. The hopes are investors will keep watch on IIPR and CNTMF stock as they continue this upward momentum. So as things progress for both companies there is much to look forward to heading into the future.