Are These The Best Marijuana Stocks To Add To Your Portfolio?
When it comes to marijuana stocks or the overall cannabis industry it has a way of being brutal and rewarding all in a given moment. Back in the middle of March 2020, there has been a consistent pattern of upward momentum and increase in trading. This increase has resonated with many marijuana stocks in the market. Although, there is no guaranteed time frame on how long this momentum will stay in the market. So investors are trying to capitalize on it now. Especially, if cannabis is decriminalized on a federal level which is why many people are searching for the best marijuana stocks to buy. Being that many pot stocks are viewed as short-term investments some have chosen to play the long game.
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Although the market is showing upward price movement with most pot stocks no one knows how long this will continue. However, in the event that the Senate passes the MORE Act, this may increase momentum even more. So for the more experienced trader, we can only hope there are more ups than downs in the long run. The next plan of attack to help prepare before things take off, even more, is sorting through all potential pot stocks to buy. Although chances are slim many analysts believe if the Senate approves the MORE Act many pot stocks may establish a new base. So make sure to conduct proper research into a given cannabis company before making any investment decisions. With this let’s discuss 2 marijuana stocks that have the possibility to break out big in 2021.
Marijuana Stock Watchlist
GrowGeneration Corp. (GRWG Stock Report)
HEXO Corp. (HEXO Stock Report)
Marijuana Stocks To Watch For Gains: GrowGeneration Corp.(GRWG)
Marijuana stock to watch GrowGeneration Corp has proven itself to contribute quite a bit of value to the cannabis industry. With the increase in cannabis demand, cannabis farmers need to restock on supplies. If a company doesn’t have the equipment needed to produce a quality product that company may be no more. GrowGeneration works in the cannabis industry by selling cultivation supplies to cannabis farmers. GrowGen currently has over 30 locations across the United States as well as an online platform to shop on.
This service/business holds great value for the industry for those who need to re-up on supplies. Because business has been successful its has reflected well in GRWG stock price. Over the last, 4 weeks or so from November 11th to December 9th GRWG stock price is up over 60%. Yet over the last year from December 2019 to December 2020 GRWG stock has increased in trading by over 600%. Price movement like this is an indicator that the company may be an option as a potential marijuana stock to buy.
Marijuana Stocks To Watch For Gains: HEXO Corp. (HEXO)
Recently one of Canada’s top marijuana stocks HEXO Corp. had some solid market action. From the second week of November to December 8th HEXO Stock had an increase of over 62% in the market. Although HEXO Stock doesn’t trade at its average 2019 share this is still a sign of growth potential. HEXO has had its fair share of issues in the past but the company has been working to fix them to set up a better future. In recent news, the company announced a downward revision to its proposed share consolidation ratio. 
What this means is the company will ask shareholders to agree upon a solution. This resolution would allow the company to consolidate outstanding common shares of the company. The understanding is that 8 old common shares would be worth one new common share. The reason for HEXO doing this is to raise the company’s common share price to once again be compliant with the US$1.00 minimum share price continued listing standard of the New York Stock Exchange.
A Word From The CEO Of HEXO Corp.
Sébastien St-Louis, HEXO CEO and co-founder. stated “We believe that our solid financial position and the execution of our growth strategy is not yet reflected in our market valuation. We are number one in Canada in key categories such as beverages and have continued to gain sales momentum in critical markets including Ontario and Alberta.”
He added “We are currently sitting fourth in recreational cannabis sales in Canada, with the gap between us and third place narrowing, while the gap between us and those behind us has widened”, “Given the necessity to regain compliance with the US$1.00 minimum share price continued listing standard, we are in the position of having to seek approval for the consolidation to avoid de-listing from the NYSE.”
Is HEXO Still a Marijuana Stock To Watch
As HEXO continues to work through this situation investors are paying close attention to see what unfolds. If the company gets more value from consolidating old common shares shareholders will be happing in the long run. For now, all we can do is watch to see what the future holds for this marijuana stock to watch.
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