Marijuana stocks have had quite a solid week during the beginning of January. Several stocks have been able to move significantly up due to some legislative changes and increasing excitement that is widespread throughout the market. Friday, January 11th proved to be one of the most significant bullish days in a few months in the industry. Investors seem to be gaining a large amount of confidence as the market continues to move forward.
This newfound sense of confidence seems to be quite a big boost to the market as the end of last year was quite a bearish trend. As we continue to move throughout this new year, the hopes are that we will be able to see even more gains into the future.
Next Green Wave (NXGWF) (NGW) is a perfect example of a pot stock that is working to lead the industry. NGW has also been particularly bullish as their stock has shot up by as much as 75% in only a week or two. While much of these gains are purely speculative, Next Green Wave has a large amount of intrinsic value that investors are being offered. For one, Next Green Wave is aiming to become one of the largest producers of cannabis in the Californian landscape.
Being based out of Coalinga, CA, Next Green Wave has a massive amount of access to the largest weed market in the world. In addition to all of this, NGW applies a completely vertical business plan to how they work. Because of this, they can ensure large margins as well as a complete and total control over their product.
One of the biggest gainers during the trading day was Tilray (NASDAQ:TLRY). Tilray saw their shares rise by more than 20% during intra-day trading on some large news that hit the market. One of the main reasons for this was that Privateer Holdings, one of the major holders of stock in Tilray, stated that they would not be selling their shares during the first half of the year.
The company has had their post-IPO lockup period in session which is set to expire by the end of next week. This brought on some fears that many large stockholders in the company may sell, thus forcing the price down. This news, however, helped to give a new vote of confidence into the market and Tilray in specific.
Aphria (NYSE:APHA) was trading upwards of 5% by the end of the trading day while up over 10% during intra-day trading. Some of the movement in the company can be attributed to the dismissal of some executives in the company. Two of the companies main leaders, CEO Vic Neufeld and co-founder Cole Cacciavillani, were both accused by short-selling investors for several unjust practices. Now that they have stated they will be leaving the company, many are on board with where they could go in the future. Aphria remains one of the main players throughout the cannabis market.
All in all, the trading day was quite eventful during the second Friday of January. As stock prices continue to jolt up, more and more people are learning the potential for the marijuana stock market.
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