Will Investors Continue to Buy These Marijuana Stocks This Month?
As of late marijuana stocks have been stuck in a downtrend. This current drop in momentum has been happening since mid-February. Before that many marijuana stocks were able to see higher market levels. So with the current state of cannabis stocks trading at lower prices, it’s giving investors more opportunity. The advantage of marijuana stocks dropping in price is being able to find the top marijuana stocks to buy.
Purchasing top marijuana stocks at lower entry points gives investors a chance to see a profitable return. Especially when the market starts to recover. For now, people are still investing with caution. This is because there is no solid way to know when things will rise in the market. So in the meantime, people are building portfolios with marijuana stocks they feel will yield the best results. There’s a great amount of progress happening in the industry that may lead to cannabis stocks seeing a recovery.
For one the big focus is on federal cannabis reform and when congress will make marijuana federally legal. Once that happens in the United States analyst feel a big boost in momentum could lead to better trading. Next, we have more states are voting to legalize marijuana.
This would allow for MSO cannabis companies and new cannabis companies to help establish new cannabis markets. When business is looking good for the company most times it can resonate well in the market for other marijuana stocks. So far in 2021, there has been a great deal of growth that is continuing to happen for the cannabis industry. People remain hopeful that things continue to expand for the overall industry and that trading will increase in the near future. Below are 2 marijuana stocks to watch in April.
Marijuana Stock April 2021 Watchlist
- Kushco Holdings Inc. (OTC:KSHB)
- Canopy Growth Corp. (NASDAQ:CGC)
Kushco Holdings Inc.
Marijuana stock to watch Kushco Holdings Inc. is one of the few premier ancillary cannabis companies in the industry. In recent news, the company is working on a big merger with Greenlane Holdings Inc. Many feel this is a smart move. As both companies work in a similar niche to where they would provide ancillary products and services to the industry.
Also, some feel this is a better move due to both companies not being pure plays cannabis stocks and working directly with the plant. Also in other recent updates, Kushco has released its fiscal second-quarter 2021 results. Some key highlights from these results are Kushco’s net revenue increased 9% from the prior-year period, and 23% from fiscal Q1 2021, to $32.9 million. As well the company secured a long-term supply contract with a leading West Coast operator. 
Some other things to mention are the company locked down 38 supply contracts for the company’s stainless steel tanks as of April 2021, compared to 20+ as of January 2021. In recent trading KSHB stock in the last month has been able to see small upticks in trading. From March 30th to the 1st of April KSHB stock has built up some momentum that led to higher market levels during that time. However, since then KSHB stock has dipped slightly in trading but currently has shown a small increase in trading once more. For now, investors are keeping watch to see KSHB stock can sustain this small recovery.
[Read More]
- What’s The Deal With These 2 Marijuana Stocks To Watch
- Are These Top Marijuana Stocks To Buy This Week? 2 With Predicted Gains In 2021
Canopy Growth Corp.
Canopy Growth Corp. is said to be one of the top Canadian marijuana stocks to watch. Yet after Aphria Inc. missed its mark with its recent earnings many other Canadian cannabis stocks started to lose momentum. Since February 10th CGC stock has been on one big downtrend.
However, during this time small spikes in trading have happened but now enough to sustain a solid rise in trading. Some analysts feel once the Unites States ends cannabis prohibition it will save Canada’s cannabis industry. In recent news, Canopy has announced they have entered into a definitive arrangement agreement to acquire all of Supreme Cannabis. 
“As we continue to expand our leading brand portfolio, we’re excited to reach more consumers through Supreme’s premium brands and high-quality products, further solidifying Canopy’s market leadership,” said David Klein, Chief Executive Officer of Canopy. “Supreme’s deep commitment to superior genetics, top-tier cultivation and strict quality control, paired with Canopy’s leading consumer insights, advanced R&D and innovation capabilities, is expected to create a powerful combination that aligns with our strategic focus to generate growth with premium quality products across key categories.”
“This transaction is a testament to the value created by all the teams at Supreme and will be beneficial to all of our stakeholders,” added Beena Goldenberg, President and CEO of Supreme Cannabis. “We have been successful at delivering great products that achieved strong customer loyalty, and operating at levels of efficiency that are industry-leading.