2 Pot Stocks To Watch This Month For Bigger Gains
Since mid-2020 marijuana stocks have been picking up a large amount of market momentum. Due to cannabis businesses being labeled essential more cannabis has been sold as a result of this pandemic. From this increase in sales, cannabis stocks have reported record-breaking Q3 earnings back in 2020. With a large amount of continued momentum, some cannabis stocks have even reached new all-time highs at the start of 2021. However, even with the cannabis industry and most pot stocks picking up more steam some marijuana stocks have yet to sustain a solid upward push.
Yet some investors feel even though a particular marijuana stock has not fully recovered or is too volatile does not mean all is lost. Sometimes cannabis stocks need a bit of push to start their upward trend in the market. Somethings that can affect the overall market performance of cannabis stocks can be due to operational issues. When a cannabis company is lacking something in its operation it can impact how the company trades in the market. Some of the issues can be due to lack of sales or supply issues or how often the company updates the public and its shareholders.
This can all tie into how well a stock can recover from its current market position. With 2021 starting off well for the industry we may see some undervalued cannabis stocks increase in value. Currently, many new and seasoned investors are looking for the best marijuana stocks to buy in 2021. With the proper research finding the right pot stocks to invest in can be an easier process. So with this remember to keep an eye out for potential cannabis stocks that may soon recover in the market. The marijuana stocks below are examples of potential plays that may start to pick up in trading
Marijuana Stocks To Watch In 2021
- Cronos Group Inc. (NASDAQ:CRON)
- GW Pharmaceuticals Inc. (NASDAQ:GWPH)
Cronos Group Inc.
Cronos Group Inc. is one of the more known cannabis stocks to watch in the market. This past week the company released its 2020 fourth quarter and full-year business results. Even though the company had a gross loss of $14.9 million in Q4 2020 which is a decrease of $5.2 million from Q4 2019 net revenue is up. The company was able to reach a net revenue of $17 million in the fourth quarter of 2020.
This is an increase from Q4 of 2019 when the company made a net revenue of $9.7 million. For the overall 2020 year, the company made a net revenue of $46.7 million in Full-Year 2020 increased by $23.0 million from Full-Year 2019. Over the last 2 months of trading for CRON stock has been fluctuating in price. At the start of 2021 CRON stock was able to find some much-needed momentum which led to an uptick in trading. In the first week of January, CRON stock saw a 19 percent increase in trading.
Final Thoughts On CRON Stock And Market Updates
From this point, CRON stock was able to sustain this upward push in the following week of trading. In the second week of January CRON stock produced gains of 11 percent. Yet CRON stock dropped at the end of the month but overall had a 36 percent rise in trading for January. In February CRON stock started to rise again in the first 2 weeks but dropped again before heading into March. Much of this upward momentum in recent trading is due to the increase in cannabis sales in Canada. With hopes that things progress for the company Cronons still remains a Canadian marijuana stock to watch in 2021.
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GW Pharmaceuticals Inc.
GW Pharmaceuticals Inc. is not only an interesting cannabis stock to watch they were once a highly sought-after marijuana stock. For those who don’t know about the company, GW Pharmaceuticals is a biopharmaceutical cannabis company. The company is known for having the first and only FDA-approved CBD treatment to market. In recent news, the company received positive CHMP opinion for EPIDYOLEX®.
“Epilepsy is reported in more than 90% of individuals with Tuberous Sclerosis Complex (TSC), and over 60% of those with seizures associated with TSC do not respond to standard anti-epileptic medicines.2,3 Today’s positive CHMP opinion brings us one step closer to a potentially life-improving new treatment option for these patients for whom EPIDYOLEX may be appropriate,” said Justin Gover, GW’s Chief Executive Officer.
In the last 6 to 8 weeks of trading, the company has been to sustain its rally from the start of the new year. In the first 2 weeks of the new year, GWPH stock saw an increase in trading by 17 percent. This initial start to trading in 2021 was set off with a good uptick that the company has been able to keep up to even with its recent sideways trading.
For the entire first month of trading for 2021 GWPH stock reached gains of 32 percent during that time. Pushing forward GWPH had a strong rally in trading in the first 4 days of February. From the 1st of February to the 4th GWPH reached gains of 48 percent. This happened before trading sideways the rest of February. Now that trading in March has started GWPH is looking to keep up the momentum to reach even bigger gains in 2021.
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