3 Top Marijuana Stocks To Watch This Week
Between more states going legal and better cannabis legislation, marijuana stocks have started to see better trading. With much excitement surrounding New York legalizing recreational cannabis and ending cannabis prohibition, there is a lot to look forward to. The cannabis industry inside the U.S. is growing at a rapid pace. With this has come the push for cannabis banking and legalizing cannabis on a federal level. If these 2 objectives can be completed we may see a strong push in the market with marijuana stocks.
From mid-February and most of March, marijuana stocks were facing a downtrend in trading. During this time the cannabis stocks were quite volatile but were not able to sustain any upward trading for long periods of time. Some cannabis stocks have been waiting almost over a month for better market momentum. Now that progress is still being met in the U.S. cannabis industry better trading has started to happen so far in April. Investors are keeping watch to see what unfolds as many people are currently trading off of speculation.
As mentioned above with more progress from our government in regards to better cannabis laws many people are still looking to carve out their piece of the market. This brings people to look for ways to invest and with things moving back up marijuana stocks seem to be the answer. Investing directly into the company outside of the market takes a great deal of money the average working man does not have. So the road less travels to get involved are cannabis stocks which is the most affordable option to take. This gives people the chance to be a part of the cannabis industry and now is a good time as ever. The cannabis stocks below are a few options to consider for this month.
Marijuana Stocks To Watch In April
- Green Thumb Industries Inc.(OTC:GTBIF)
- Greenlane Holdings Inc. (NASDAQ:GNLN)
- Cresco Labs Inc. (OTC:CRLBF)
Green Thumb Industries Inc.
Green Thumb Industries Inc. has been on the best-performing cannabis stocks to watch out of a select few. For this reason, many investors have looked at the company as a top marijuana stock to buy. Especially with this recent downtrend, it gave people a chance to buy shares at a lower entry point. With a past trading pattern of solid recoveries, people feel that the risk is worth taking on this marijuana stock. At the start of the new year, GTBIF stock was off to the races. In fact, since mid-2020 to know the company has climbing to even higher market levels.
In the first few weeks of February, GTBIF stock hit new all-time highs with a share price of $39.11. Now like many other marijuana stocks in the sector the back half of February GTBIF stock started to dip in trading. However, the company was able to maintain a promising market position heading into March. In the first few weeks of March GTBIF stock continued its downward path but shortly after the 10th, the company began to see better trading. Pushing forward GTBIF stock lost its momentum once more but has currently started to recover once more in April.
Green Land Holdings Inc.
Green Land Holdings Inc. is another cannabis stock to watch as better cannabis laws enter the industry. In recent news, the company has announced that they have entered into a definitive merger agreement, pursuant to which KushCo will become a wholly-owned subsidiary of Greenlane. This big for the industry as more cannabis companies are joining forces to create super companies.
“This transformative transaction is expected to create a broad and complementary platform that we expect to deliver substantial synergies at an important inflection point in the cannabis industry,” said Aaron LoCascio, Chief Executive Officer and Co-Founder of Greenlane.
In the last 2 months of trading GNLN stock has had a volatile marker performance. From the start of February to the 10th GNLN stock started to recover from January lows. However, right after this time GNLN stock and many other cannabis stocks began to dip in trading. It wasn’t until the end of March when GNLN stock started to recover. Currently in April GNLN stock is seeing a rise in trading but the question becomes how long will it last.
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Cresco Labs Inc.
Cresco Labs Inc. has been a marijuana stock to watch in recent trading even in the midst of this past downtrend. In the company’s most recent earning Cresco Labs reported record revenue for the full 2020 year. As well as record revenue for Q4 2020 in addition to a record adjusted EBITDA in the full 2020 year. The company operations have been performing well which is part of the reason CRLBF stock has seen days of better trading.
Since the start of February CRLBF stock started the month with a nice push in trading. From February 1st to the 10th CRLBF stock reached gains of 37 percent as well reaching new highs during this run. Although the back half of the month led to downward trading CRLBF stock held a decent market level. Now even with dropping at the end of February CRLBF stock had some volatile spikes along the way. In March CRLBF stock dropped even more and has now in April the company has started to rise once again.
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