2 Marijuana Stocks That May See Higher Gains In 2021
Currently with all the excitement around the cannabis industry investors have a renewed interest in finding marijuana stocks to buy. This newfound excitement comes from the possibility of federal cannabis reform as well as an overall solid upward push for cannabis stocks. This is in addition to more states possibly going legal in 2021.
If more states go legal and the new administration can end cannabis prohibition it will create bigger cannabis markets around the U.S. Many investors feel that looking for good pot stocks to buy with good entry points is a good strategy to use before marijuana stocks see another possible uptick in trading. This causes many people looking to invest not wanting to be left out as the U.S cannabis industry is set to triple in the next five years.
With the potential to see big gains as many investors are looking to profit off the best marijuana stocks they can find. In 2021 there are currently 35 states that have passed some form of cannabis legislation. This helps other states as well as companies to build the foundation to expand and develop new markets. Over the last month, many of the top marijuana stocks in the market are seeing new highs.
Although the last week of January the sectors saw a slight dip but even with this dip marijuana stocks were able to sustain a decent market position. The goal for investors is to find the best cannabis stocks to buy at the lowest share price. This will help to see better gains once more momentum enters the sector. Below we will go over 2 top marijuana stocks that saw some nice price movement at the start of the new year.
Marijuana Stock Watchlist 2021
4Front Ventures Corp.
4Front Ventures Corp. is one of several marijuana stocks that in the last few months was able to keep up its climb in a volatile market. The company is a top MSO cannabis stock. 4Front runs its business by being a cannabis operator then selling cannabis products. 4Front holds an edge over others in a high volume mass-produced market that the company is apart of.
The company like others in the cannabis space were able to keep growing even during a pandemic. In recent news, the company has announced it received approval from the Brookline, Massachusetts Planning Board. This approval is to start the construction of a new Mission branded dispensary. This expansion will make give the company an even bigger presence in the Massachusetts cannabis market.
“We are thrilled to begin construction on our third location in Massachusetts that will help to meet robust consumer demand for high-quality cannabis products in the state,” said Derek Stewart, VP Retail Operations, Mission Dispensaries, MA. “We again want to thank Senior Planner, Maria Morelli and members of the Town’s Planning and Zoning Boards for their ongoing advocacy of our future Mission Dispensary in the Town of Brookline. As anyone who has worked to open a cannabis business in Massachusetts will tell you, the road to welcoming your first guest is a long one – and the receipt of a Special Use Permit is nothing short of a milestone. Not only has Brookline granted our Special Use Permit, but have done so with unanimous approval. We look forward to becoming good neighbors serving Brookline and the Greater Boston area soon!”
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Sundial Growers Inc.
From November to now Sundial Growers has been a marijuana stock that has been hit hard by market volatility. Back in November SNLD stock started to fluctuate in price prior to dipping back in early 2020. During some of this up and down market movement, the company has been to make some investors a return on their investment.
For instance, if you purchased shares on November 4th and sold on the 9th you would have made a 164 percent return. Moving forward if you purchased shares on the 23rd of November and sold on the 30th you would have been up 200 percent on your investment.
If we look at December you can SNDL stock began to trade down. Yet if you happen to buy shares on the 18th of December and sold on the 21st SNLD stock saw gains of 16 percent. When it comes to cannabis stocks that move of volatility most times it’s a waiting game on when to buy at the right entry point. When the start of 2021 came SNDL stock found some new year momentum. For the first 2 weeks of trading in January, SNLD stock was up 29 percent by the 15th.
Although SNDL stock dropped in trading towards the end of January the company was able to recover before the new month began. Overall for SNDL closed out the first month of 2021 with 120 percent gains. This is a substantial price movent to start the new year. With the federal cannabis, reform becoming a real possibility in 2021 Sundial Growers may be one marijuana stock to watch for future growth potential.