2 Marijuana Stocks To Watch That Could Be A Good Investment Option
Marijuana stocks in recent trading have been feeling the impact of volatile trading. With this up and down movement in price comes a little more risk when investing in cannabis stocks. The reason there is currently more risk is the unpredictability of the sector which can impact the performance of the sector. For instance, some marijuana stocks have been dropping more than they have been recovering.
This has led the entire sector to now trade at a lower average. Some of the top-performing marijuana stocks to watch have fallen and have yet to see any kind of significant recovery. That’s not to say that small climbs have not taken place it’s just they are not for long periods of time or ability to be sustained. However, even with more volatile trading, it’s more action that has taken place since the recent downtrend. During this time the entire sector felt the impact with a loss of momentum that caused a big drop for marijuana stocks.
Since this time many cannabis companies have been focusing on the progress and growth of operations versus the market. Even with some cannabis stocks trading at lower prices on the operational side of things for most companies have been looking good. Currently, the cannabis industry has been making some solid headway. For example, more marijuana companies have been able to continue to expand and develop new ventures.
This growth is all in preparation for the potential of new marijuana legislation. With more comprehensive cannabis reform in place such as federal reform, it will bring more value to the industry as a whole. Not to mention with federal reform in place it may add some upwards trading momentum for marijuana stocks. Just remember to do your homework when looking for the best marijuana stocks to buy.
Marijuana Stocks To Watch Right Now In 2021
- Greenlane Holdings, Inc. (NASDAQ:GNLN)
- TerrAscend Corp. (OTC:TRSSF)
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Greenlane Holdings, Inc.
Greenlane Holdings, Inc. sells cannabis accessories, child-resistant packaging, and specialty vaporization products in the United States, Canada, Europe, Australia, and South America. Since the end of March trading for GNLN stock had a moment where trading was on the right upward path. From March 30th to April 1st GNLN stock went from $4.09 a share to $6.20. This made for a 51 percent jump in trading at the time and was a good way to begin a new month of trading.
Yet as trading progressed in April GNLN was not able to sustain its rise in trading. The rest of the month resulted in a loss of momentum that resulted in a significant drop in trading. Now even as GNLN stock was falling from the 22nd to the 26th the company saw a small uptick in trading. Ultimately GNLN stock would further its decline in trading to end the month. Moving into May GNLN continued to trade down for most of the month. It wasn’t until the end of May when the company started to see a rise in trading heading into June.
At the start of June GNLN stock was able to sustain its momentum to see a small bit of momentum at the start of the month. Due to volatility GNLN stock was a bit up and down for a good part of June. Yet at the end of the month right before the close of June GNLN stock saw a 24 percent jump in trading from the 25th to the 29th. Currently in July has been on the downside but more recently things have been slowly picking back up. So investors are keeping watch to see if any upward trading can occur before August begins.
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TerrAscend Corp.
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. At the end of March, TRSSF stock was starting to pick up in trading even with dealing with market volatility.
Looking from March 30th to the 6th of April TRSSF stock was starting to rise in the market. Yet in the 2nd week of April TRSSF stock started to fall in trading and was having trouble recovering. TRSSF stock did not see any type of recovery until after the 13th of April. After this point, the company began to see some much-needed upward trading. Overall TRSSF stock saw a 12 percent rise in trading for the month. For May the company was impressibly enough able to sustain some form of consistency in the market.
Meaning for essentially the whole month of May beyond moments of volatility TRSSF stock maintained a decent market position. However, in June trading did not look good for the company. For practically the entire month of June was met with a decline in the market. Now from the 22nd to the 30th of June TRSSF stock had a nice uptick in trading before the start of July. Currently, in July the company is still working on delivering a more promising recovery. As trading in a new month is almost here shareholders are keeping watch to see what unfolds with TerrAscend Corp.
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