2 Marijuana Stocks To Add To Your Watchlist This Week
In the world of cannabis investing, marijuana stocks are one of the main places to start. This is because of how easy it is to get started with little start-up money. For example, there is a wide range of marijuana stocks that each have a different price per share. The share price of each particular marijuana stock can go from as lows as a few cents to over $100.
With how cheap marijuana stocks can be establishing a budget of how much you want to invest is also an important factor to note. You don’t want to overspend but you also want to make sure to invest enough so you can see a better return from it. When looking for the best marijuana stocks to buy it’s all about patience and timing. For instance, investing in pot stocks is a volatile market so at times when the market is up it’s not always the right time to buy.
Now when the market begins to dip that’s when being patience holds value because now you may have a chance to buy top pot stocks at a decent entry point. Not only with marijuana stocks but all stocks the name of the game is to buy low and sell high. You must also remember to do your homework on each cannabis stock you may want to invest in.
Currently, in the market, there is a great deal of speculative trading that is based around better cannabis legislation. In addition to this, the cannabis sector has been working to sustain better trading in the market. In recent trading, there has been a downtrend with cannabis stocks with some upticks in trading. If things begin to increase in momentum marijuana stocks may see better trading heading into April.
Marijuana Stocks To Watch This Month
- Sundial Inc. (NASDAQ:SNDL)
- GrowGeneration Corp. (NASDAQ:GRWG)
Sundial Inc.
Marijuana stock to watch Sundial Inc. over the last year of trading has fought to see a better market position. SNDL stock is one of the more volatile cannabis stocks in the market. Much of the better trading the company once had was back in mid-2020 and since then has lost a great deal of momentum. Back on March 17th, the company released its full-year and fourth-quarter 2020 financial and operational results.
Some of the hights lights to note are Sundial completed financial restructuring. As well as eliminated $227 million aggregate principal amount of debt during 2020. In addition to this, the company also made a gross revenue increased by 10% to $73.3 million in 2020 compared to the prior year.
“We entered our second year of commercial operations facing a number of internal and external challenges, including operational difficulties, excessive leverage, inadequate cost control, a lack of focus on our core value proposition, and rapidly evolving industry conditions,” said Zach George, Chief Executive Officer of Sundial.
Over the last 2 months of trading SNDL stock has been looking for a boost in trading. Much of January was a bit flat and sideways for the company. However, at the start of February things started to pick up in trading. From February 1st to the 10th SNLD went on a run that allowed investors a chance to see a long-awaited return on their money.
Final Thoughts On SNDL Stock And Market Performance
During this time SNDL stock saw gains of 143 percent before dropping back down again. Currently in March SNDL has had trouble yet again find the momentum it needs to see better trading. Hopefully, things can pan out well for the company as 2021 continues to progress for the overall cannabis industry.
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GrowGeneration Corp.
Beyond being a possible marijuana stock to watch GrowGeneration Corp. is one of the top ancillary cannabis companies out there. Now in the cannabis industry, there is a wide range of ancillary companies that service the industry. However, a company like GrowGen, allows the cultivation side of the business to run and operate smoothly. The company owns and operates a chain of hydroponic grow stores for cannabis cultivators.
In the last 2-3 months of trading GRWG stock has been able to see a nice push in the market despite trading in a volatile market. In the last 2-3 months there has been a lot of price fluctuation for the company but this has not hindered GRWG stock from reaching a higher market position. At the start of the new year, the company was able to start with a nice increase in trading. 
In the first half of January GRWG went from $39.03 a share on the 4th to $52.31 on the 19th this made for a 33 percent increase in trading. Now from this point, the company has dropped in trading but when February got underway things started to pick up again. GRWG stock from February 1st to the 9th went on a run that generated gains of 39 percent.
However, this run did not last past this point, and since this time GRWG stock has been trading down in the market. Yet when trading in March began the company was still moving down. As of now, GRWG stock is currently moving back up in the market. If things continue to move this way the company may start to see bigger gains.
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