Will Marijuana Stocks Continue To Rise This Month?
It seems as many marijuana stocks have had a volatile start to May with a great deal of price fluctuation. In the first week of May, cannabis stocks were having a bit of trouble working towards better trading in the market. Cannabis stocks over the last few months have been faced with a loss in momentum which led to drop-in trading. This drop-in trading led to many shareholders selling parts of their position and investors buying marijuana stocks off of the dip. When shareholders sell their position it helps drive the price of the stock even lower and gives others the chance to buy top marijuana stocks at lower prices.
By purchasing marijuana stocks off of the dip it gives those investors the best chance at seeing better returns once trading starts to rise. Its been a long while before the cannabis sector has been able to sustain any consistent upward movement. Currently in the 2nd week of May trading has started to look better for pot stocks. Yet what shareholders and investors are worried about is how long will this increase in momentum last. As well will it lead to better trading as many have been patient for the sector to see a strong recovery.
Some analysts feel that even though May was a bit slow to see an uptick in trading that the rest of the month could bring with it some much-needed momentum. As mentioned above right now May has been a volatile month but with much time left this market increase may rise back to the previous trading like in the first 2 weeks of February. So with the cannabis stocks below some feel these cannabis companies will be able to perform well the rest of the month.
Marijuana Stocks To Watch In May
Green Thumb Industries Inc.
Green Thumb Industries Inc. over the last year has been one of the few top-performing marijuana stocks to watch. The companies operational and market growth has been tough to match by other companies. In one of the companies most recent news releases, Green Thumb announced that it is moving into Virginia’s cannabis market. The company has signed a definitive agreement to acquire 100% of Dharma Pharmaceuticals LLC. With this purchase, the company is expanding its cannabis distribution network into the Virginia cannabis market.
“Change is happening. We are seeing sweeping cannabis reform across the country in favor of expanded access. This momentum has finally reached the first state south of the Mason-Dixon line to ratify adult-use cannabis sales and we are excited to work with the Dharma team in Virginia,” said Green Thumb Founder and Chief Executive Officer Ben Kovler. “This industry will create consequential economic opportunities and social change in a part of the country that remains void of legal access to cannabis today. We look forward to serving Virginia’s current medical patients, and future adult-use consumers, while supporting the tremendous positive impact that the legal cannabis industry can have on local communities.”
Final Thoughts On GTBIF stock And Market Performance
Over the last month of trading GTBIF stock even in a downtrend still holds a decent market position. Even when the company fell after the first 10 days of February GTBIF stock still showed some trading spikes during March. Yet towards the close of March GTBIF stock continued to fall throughout April. Currently in May trading has started to pick up for the company. Which investors hope to see move up a bit more consistently before the end of the month.
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Curaleaf Holdings Inc.
For some time now Curaleaf Holdings Inc. has been one of the more popular marijuana stocks to watch. Also, some investors feel that CURLF stock has more long-term value than short-term. Yet there is plenty of investors who do play the short game when it comes to trading CURLF stock. Since the start of February CURLF stock has moved up and down in the market. Like many other cannabis stocks, the initial week and a half of February CURLF stock were trading up. However, right after the 10th CURLF stock as well as others began to drop in trading.
Surprisingly March was a volatile time and the company was able to see small recovery periods before dropping once more. Much of April for CURLF stock continued to lose its momentum. So far in May, a small increase in momentum has led to CURLF stock seeing a small uptick in trading. Shareholders are remaining as patient as they can to see a bigger increase in momentum. In recent news, the company announced a change to its footprint in Maryland.
Joe Bayern, Chief Executive Officer of Curaleaf, stated, “We are excited to continue our expansion in the state of Maryland, offering our unparalleled patient care and education, as well as our premium cannabis products. With the #1 market share in Maryland based on licensed operations, Curaleaf is committed to serving the more than 125,300 certified cannabis patients across the state as we deliver on our mission to improve lives by providing clarity around cannabis and confidence around consumption.”
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