These Marijuana Stocks To Watch May See A Pick Up In Trading
With marijuana stocks still facing downward trading, investors are still left waiting for a rise in the sector. Another factor as to what’s also contributing to this drop in trading is investors selling off shares. This may be due to shareholders looking to recoup any part of their investment due to the uncertainty of the sector. On top of that, there hasn’t been a final confirmation on whether or not Biden would sign off on a federal reform bill. As much progress is being made from individual states to congress the particular issue with Biden puts federal reform at a standstill.
This may also be a factor as to why marijuana stocks are trading down. Cannabis companies are looking to expand abroad markets and vice versa and with cannabis still federally illegal they can not. Hopefully, with more states going legal and setting up their own regulated markets Biden will feel a bit pressured to enact policy change. Yet for those who are waiting patiently for better trading to happen now is a good time to look for marijuana stocks to buy. The one things about a volatile market like cannabis stocks are that shares of stock can fluctuate quite often without warning.
This can be a good thing and a bad thing depending on the marijuana stock and how the overall sectors are performing at the time. The one thing about a volatile market is if you invest in the right pot stocks you have the chance to see bigger gains in a shorter period of time. This is because you have the chance to buy low and sell high which with volatility as mentioned above can happen quickly. The cannabis stocks below are 2 potential plays to watch for in a volatile market.
Marijuana Stocks To Watch In 2021
- Neptune Wellness Solutions Inc.(NASDAQ:NEPT)
- The Scotts Miracle-Gro Company (NYSE:SMG)
Neptune Wellness Solutions Inc.
Neptune Wellness Solutions Inc. is a better example of marijuana stock that is a bit more of a volatile investment. For some time now NEPT stock has been moving up and down in price providing more short-term gains. However due to how volatile the company is some investors see NEPT stock as too risky of an investment. Yet in the same way, other investors find NEPT stock to be the type of marijuana stock they can see decent returns at a faster rate. As of today trading for NEPT stock has dropped from better market levels.
But even while trading down the company has had small runs in trading that have given shareholders the chance to take profits before the next dip. In the company’s most recent news they have released details about upcoming business strategies. Neptunes long term plan is centered around the health and wellness niche. The company wants to focus on select CPG verticals. This would involve Cannabis, Nutraceuticals, Beauty & Personal Care, and Organic Foods & Beverages.
“We have made tremendous progress transforming a 22-year-old company in less than two years. We are in a unique time in history, and we believe that the opportunities ahead of us are immense,”
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The Scotts Miracle-Gro Company
The Scotts Miracle-Gro Company is not exactly the name you think of when discussing cannabis stocks. However, through its subsidiary, The Hawthorne Gardening Company Scotts offers ancillary items to cannabis cultivators such as soil and lighting, and nutrients. Back in March, the company announced its commitment to Long Island water quality with Turf Builder.
“Our company has deep roots on Long Island,” said Jim Hagedorn, chairman, and chief executive officer of ScottsMiracle-Gro. “My father Horace founded Miracle-Gro here nearly 70 years ago, and we’re serious about protecting the local environment. During the development of our new lawn food, we solicited feedback from key legislators and environmental groups across Long Island. I thank them for their leadership and support”. 
Since the start of November SMG stock has been able to battle through volatility to reach higher market levels. From November to January SMG stock reached gains of 42 percent. The company kept this upward push going heading into the following month. Like other cannabis stocks in the first 10-12 days of trading in February, SMG stock made 7 percent gains. Yet shortly after this point, SMG stock hit a bit of a downtrend in trading the rest of the month.
Final Thoughts On SMG Stock And Market Performance
From the 12th of February to the end of the month SMG stock dropped 13 percent. This drop led to SMG stock falling even more in the first week or so of March. However, as marijuana stocks continued to drop in March SMG stock was able to rise. Looking from March 8th to the end of the Month SMG stock was able to recover from previous lows. During this run, SMG stock generated gains of 23 percent to end the month. Even with trading dropping back down SMG stock is still holding a better market level than other marijuana stocks.
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