2 Marijuana Stocks To Watch That Are Moving Up In The Market
So far in 2021 many of the top marijuana stocks to watch have continued to trend up in the market. Marijuana stocks like Green Thumb Industries Inc. (GTBIF Stock Report) and Planet 13 Holdings Inc. (PLNHF Stock Report) reached new highs in addition to posting record-breaking earnings. During this past year, many thought because of this pandemic that marijuana stocks would not be spared like other businesses and industries. Yet the marijuana stocks and the cannabis industry thrived in ways that surprised many investors. During this time we also saw cannabis companies team up to make the largest cannabis company in the industry.
Towards the end of 2020 marijuana stocks, Aphria Inc and Tiray Inc. joined forces to create the biggest cannabis company in the industry. This move is creating a blueprint for other cannabis to follow suit. The more cannabis companies that join forces the bigger things can become. All in all the cannabis market is on the rise and with 2021 hear new things are in the works. For instance, it’s possible we may see cannabis finally legal on a federal level. If that happens some analysts predict a surge of momentum that may lead to marijuana stocks seeing more gains. Below we discuss 2 marijuana stocks to watch as things progress in the cannabis industry.
Marijuana Stock Watchlist 2021
Marijuana Stocks To Buy [Or Sell] In 2021: OrganiGram Holdings Inc. (OGI)
During 2020 OrganiGram Holdings Inc. is a marijuana stock to watch that has made some gains this past year. Even while dealing with volatility and essentially trading down most of 2020. Although OGI stock has been bouncing around in the market some investors have been able to capitalize off this and make a profit. Currently down from previous highs earlier in 2020 back in mid-May OGI stock dipped down to $1.17 before shooting back up to $1.87 at the end of the same month. This made a total gain of 59% that gave this marijuana stock a much-needed push of momentum.
From the end of May to June 10th, OGI stock caught some more upward momentum with an increase of 25% before eventually trading down. From June 10th to the 11th of the same month OGI stock dropped 16% before shooting back up 9% the following trading day. If you look back at the company’s trading pattern over the last year you will see that this pattern of volatility is quite consistent. However, as mentioned above OGI stock was able to continue its push and some investors were able to make more short-term gains.
Marijuana Stocks To Buy [Or Sell] In 2021: Trulieve Cannabis Corp. (TCNNF)
During this past year, Trulieve Cannabis Corp. was one of the handfuls of marijuana stocks that performed well in the market. During 2020 TCNNF stock reached new all-time highs of $39.30 and with the Dems leading the Georgia runoff election, it’s possible TCNNF stock will continue to rise. Over the last 3 months before reaching the new year TCNNF stock continued its climb in the market.
For the month of October Trulieve saw gains of 27%. Moving on to the month of November this is where many top marijuana stocks saw big gains due to record-breaking earnings in addition to the presidential election. This past November TCNNF stock continued its uptrend in the market with a 20% increase for the entire month. Yet during this last December, the company has been able to sustain this momentum and make continuous gains. So far from December to January 7th TCNNF stock is up over 20%
Looking back at this past year beyond having a great market performance Trulieve has been able to continue its progress in the cannabis industry. This was done by expanding operations and opening new dispensaries. Not to mention the fact they were also able to post solid earnings as well. Overall for the whole year TCNNF stock is up 250% and it seems like more momentum is still building. Even in the middle of a pandemic, the progress of this top marijuana stock has made them a top gainer.
Will Trulieve Cannabis Corp. Continue TO Be A Top Marijuana Stock?
With this more investors have taken notice as they look for marijuana stocks to buy. With the new year here the company has already broken new levels hitting new 52 week highs. Trulieve is also dominating Florida’s cannabis market as they are the preferred dispensary for the state. With TCNNF stock reaching new levels and the possibility of a Democratic ran Senate the future of the company could be a good one. So as the first week of trading is almost complete in 2021 TCNNF stock is still pushing up and showing why they are marijuana stock to watch for the near and distant future of the cannabis industry.