Are These Marijuana Stocks To Buy Worth The Investment?
As marijuana stocks start to recover investors are still keeping an eye out for investment opportunities. At the end of February early March, the cannabis sector started to move down in trading. This recent downtrend allowed people to find top marijuana stocks to buy at lower entry points. Yet over the last few weeks in March, many cannabis stocks have started to recover.
Now not all of them are back to the trading levels pot stocks had at the start of February but they have started to move up in trading. This uptick is a sign of growth potential that surrounds the market. With new cannabis companies entering the market there’s a great deal of opportunity for marijuana investors. As well with more progress and growth of the cannabis industry, even the vets of the marijuana stock world are started to see a bit more momentum.
Currently, some feel this is the second wave of the green rush with more states going legal and new markets being established. With new markets being developed some MSO cannabis companies will be looking to become apart in these markets. Now if cannabis can become federal legal then the industry as we know it may change overnight and that’s what a great deal of these new and older companies are planning for. The start of 2021 for marijuana stocks started with a boost in trading.
This uptick led some companies to keep up their market level even with small dips in trading. Many people are keeping a stern focus on the U.S. cannabis companies as that side of the cannabis industry is growing faster than other regions. The marijuana stocks below are 2 companies that stand a good chance of seeing even bigger gains as things progress for the U.S. cannabis industry.
Marijuana Stocks To Watch This Month
Cresco Labs Inc.
Cresco Labs Inc. since back in November has been one of the many cannabis stocks to pick up in trading. Since mid-November CRLBF stock started to see a more consistent rise in trading. In December CRLBF stock was able to sustain its market level but overall traded a bit sideways. At the start of the new year, CRLBF stock had a boost in trading which led the company to rally in trading. January 4th to 21st CLRBF started to climb in trading. This run made for a 36 percent increase in trading.
Yet shortly after this rally CLRBF stock started to decline in the market. CRLBF stock went from $14.19 on the 22nd of January to $11.79 a share on the 29th making for a 16 percent drop in trading. However, even with this drop in the market, the company was still able to close in January with a gain of 13 percent. Heading into the following month trading started to pick back up in February. From the 1st of February to the 10th CLRBF stock once again went on another run. This run made for gains of 37 percent which was a good sign for investors that the company is performing well in the market.
Final Thoughts On CRLBF Stock And Market Update
Now the rest of trading in February was a bit volatile leading to a drop in the market for CLRBF stock. Now when March started CRLBF stock was looking like it was picking up in the first 2 days but eventually dropped the rest of the week. Since that time the company has built up more momentum and looking to recover from recent lows. If Cresco Labs can sustain its slight uptick more momentum may soon follow for this marijuana stock to watch.
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HEXO Corp.
HEXO Corp. for most of 2020 was hit by market volatility and was trading sideways from July to the start of November. During this time HEXO stock had small upticks in trading but it wasn’t enough to keep up its small boost in that time. HEXO stock began picking up better momentum around the end of November.
When December came HEXO stock was still fighting market volatility but at the start of January, the company started to rise even more. From December 31st to January 15th HEXO started to rally making gains of 95 percent. This allowed shareholders to see a long-awaited return on their investment. Although from this point HEXO stock dropped the last half of January the company closed the month with a better market-level than it started with.
Heading into February HEXO stock yet again went on another rally going from $6.27 a share on the 1st to $10.28 on the 10th. This climb in trading made for a 63 percent increase in the market. After the 10th HEXO stock started to drop off a bit closing February on a downtrend which led to March trading. Currently HEXO stock has picked a small boost in trading but the bigger question is can the company keep this momentum up to see a better market position.
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