3 Top Marijuana Stocks To Kick Off The Week For More Gains
Marijuana stocks over the last week or so of trading have been facing an increase in market volatility. Before this heading into the first week of July, some marijuana stocks encountered a little pullback in trading. Even with most marijuana stocks at a lower trading price, it’s always good when you can buy shares even cheaper. Which with as much fluctuation in price that’s been happening there have been good times to find top marijuana stocks to buy.
Right now many investors are still able to see some moderate gains but due to the recent drop in the sector, further recovery is needed. Back at the start of 2021, the sector has had a great amount of consistency in upward trading. Going from the end of December to the 2nd half of January most cannabis stocks were trading with more upward action. Yet like mentioned above the last half of February is when a sector-wide downtrend took place.
Now since between April and May cannabis stocks have been slowly waking back up. As well with more states looking to legalize marijuana in some form, it’s only adding more value to the overall cannabis industry. The amount of revenue that is being generated is growing at a fast pace. So with more states creating new legal markets the amount of revenue will continue to increase over time.
What will help much of this come to fruition faster is more comprehensive cannabis reform in the United States. Currently, cannabis is still federally illegal but states now have the ability to pass their own individual cannabis legislation. Certain aspects of progress with cannabis reform have helped create more trading momentum for some marijuana stocks. With a new week, upon us here are 3 marijuana stocks to watch for better trading in 2021.
3 Top Marijuana Stocks To Watch This Month
- Green Thumb Industries Inc. (OTC:GTBIF)
- Greenlane Holdings, Inc. (NASDAQ:GNLN)
- TerrAscend Corp. (OTC:TRSSF)
Green Thumb Industries Inc.
Green Thumb Industries Inc. manufactures, distributes, and sells various cannabis products for medical and adult use in the United States. In addition to being one of the top marijuana stocks to watch in the market. At the start of July, Green Thumb announced they have finalized the purchase of Dharma Pharmaceuticals.
This new acquisition will allow the company to enter Virginia’s cannabis market. The company has been making solid headway on the operational side of its business. In the last several months of trading GTBIF stock has been a bit volatile in trying to climb back to prior trading levels. The company was starting to see a little more consistency in the market from mid-April to now in July.
Yet with the big drop in trading during the recent downtrend GTBIF stock is trading at a more affordable cost for some cannabis stocks investors. Currently, the company is down in the market. However GTBIF stock has shown solid growth potential in the past as investors are confident things will possibly recover for the company before the end of the month.
Greenlane Holdings, Inc.
Greenlane Holdings, Inc. sells cannabis accessories, child-resistant packaging. In addition to specialty vaporization products in the United States, Canada, Europe, Australia, and South America. Since the start of May GNLN stock began to lose a little momentum in the market. Pretty much more than half of May the company had an issue sustaining an upward trading momentum.
Now from the 21st of May to the 28th GNLN stock saw a 13 percent increase for that time. The first few days of June the company was able to keep its rise going but ultimately the company faced a slight pullback. Yet overall June was a volatile month for GNLN stock. In fact, toward the end of June, the company saw a nice rise in trading from the 25th to the 29th.
Even with a drop at the close of June the company was still up from the previous month. Now in July trading has not fared well for the company. Right after the 1st of July GNLN stock dropped significantly in trading. Currently, shareholders are keeping a positive attitude about the future market performance of this marijuana stock to watch.
[Read More] 2 Marijuana Stocks For Your Investment Portfolio
TerrAscend Corp. cultivates, processes, and sells medical and adult-use cannabis in Canada and the United States. It produces and distributes hemp-derived wellness products to retail locations and manufactures cannabis-infused artisan edibles. The company also operates three retail dispensaries under the Apothecarium brand name in California and Pennsylvania.
Over the last 3-4 of trading, there has been some pick up in trading that currently started to lack. From April 20th to about the first 3 days of May TRSSF stock was looking promising with a 17 percent rise in trading. Further trading from this point was a little volatile but TRSSF stock was able to keep its decent market position till about the 27th of May.
At the close of May moving in June TRSSF stock was met with a decrease in market momentum. This loss in momentum caused the company to fall even further for most of June. However, from June 22nd to the 30th TRSSF stock finished the month with a nice upward climb heading into July. Currently TRSSF stock has once again fallen from better trading levels. Yet with more time before the close of July, it’s possible to see a pick up in trading from this cannabis stock to watch.