How This Holiday Could Produce Some Pot Stock Winners
Ahh, the fourth of July. The smell of barbecues and potential marijuana stocks to watch. But, with this holiday comes the sobering reminder that pot stocks are as volatile as ever. During the past few weeks, we have witnessed mostly periods of solid bullish sentiment in the cannabis industry. But, this does not mean that it has been all positive for cannabis stocks. Of course, there have been some days that have brought in losses for the cannabis industry at large. But, marijuana stocks are resilient and continue to fight back no matter what the circumstance is.
And while the fourth of July is just like any other day, it is a time to step back and take a closer look at pot stocks. The market will be closed which means that there is no excuse for not doing your research. Investors continue to talk about the same two or three marijuana stocks. This can serve to disregard the potential of the smaller pot stocks to watch. With potential all around the industry no matter what size the company is, it pays to be open-minded. All that said and done, these are two solid-looking marijuana stocks to watch.
A Risky Pot Stock With Some Recent Forward Momentum
Cronos Group Inc. (CRON Stock Report) may not spark excitement amongst marijuana stock investors. But, the leading pot stock to watch has some things going for it. For one, CRON stock has managed to gain more than 20% in the past month alone. Up from its major low back in early March, investors have begun to focus on CRON stock once again. In addition, the company has stated that it has as much as $1.1 billion in cash on hand. This means that investors may be able to feel a greater sense of security by investing in CRON stock.
But, the company still has a long way to go in terms of making its numbers stand out. Many believe that it could see some issues with stock dilution in the next year or two due to its most recent financial report. But, as a major grower of cannabis, it does have a unique place in the industry. And, with demand for marijuana shooting up substantially in the past few months, it looks like CRON stock could potentially make a comeback. For now, however, it definitely remains a riskier marijuana stock to watch.
A Smaller Ancillary Marijuana Stock to Watch
GrowGeneration Corp. (GRWG Stock Report is one of the leading ancillary marijuana stocks to watch. Although it is not a traditional pot stock, GRWG stock has remained a very interesting company to watch. Similar to Scotts Miracle-Gro Inc. (SMG Stock Report), GrowGeneration works by producing products for use in the hydroponics market. GRWG stock has also shown profitability for the past few months which is not something that many other pot stocks can say.
In the recent GRWG stock report, the company posted an income of around $7 million. With more people staying at home, it seems as though more people are interested in growing cannabis. This means that we could see GrowGeneration continue to grow into the next few years. But, whether or not it can compete with the largest pot stocks in the industry remains unknown. For now, however, GrowGeneration remains a leading marijuana stock to watch.
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