3 Marijuana Stocks To Buy Or Sell This Month?
Marijuana stocks are all the craze right now. This is due to more people finding an interest in the cannabis industry. With federal cannabis reform on the horizon, there has been more money invested into the cannabis sector than ever before. This has caused a great deal of speculative trading with cannabis stocks. From this past November to currently in 2021 marijuana stocks have been moving up in the market.
During these last 4 months, some cannabis stocks like Green Thumb Industries Inc. (OTC:GTBIF) have hit back-to-back highs in January and in February. Recently the stock market overall has been dipping a bit more. This has led to investors buying cannabis stocks at lower prices to sell once the sector begins to bounce. It seems the current system of trading for cannabis stocks remains as simple as buy low sell high.
This is what makes buying pot stocks off the dip a profitable trading strategy if done correctly. Yet even with more attention centered around cannabis investing you must always do your research first. It is always important to look up each potential company you want to invest in. This goes from recent news past trading patterns and any recent financial info about the company. With this basic guideline, it makes choosing which pot stocks to buy an easier process when accessing risk verse reward.
Furthermore with how volatile cannabis stocks can be you want to make sure what you research is the most current and accurate information before investing. Investors remain hopeful that his upcoming week of trading to start March will bring more momentum for marijuana stocks. So far the new year has brought a solid push for the sector. Below are some marijuana stocks that are looking to see more gains in 2021.
Cannabis Stocks To Watch In March
- HEXO Corp. (NYSE:HEXO)
- Green Lane Holdings Inc. (NASDAQ:GNLN)
- KushCo Holdings, Inc. (OTC:KSHB)
HEXO Corp. is a Canadian cannabis company that produces markets and sells cannabis throughout the country. In recent news, the company has announced that Namaste Technologies subsidiary CannMart has closed a national supply agreement with HEXO. This move is a good way to keep the growth consistent with new cannabis ventures and overall business for each party involved.
“Working with established players such as HEXO expands our product range within the medical cannabis market, while allowing our partners to focus on their business of producing and marketing their cannabis products,” said Meni Morim, CEO of Namaste.
In the last 4 weeks of trading, HEXO stock has picked a bit of upward momentum. Even though down from previous highs in February in the first 2 weeks of the month HEXO stock went up by 63 percent. This push was a solid start after seeing an uptick at the start of 2021. HEXO stock closed out the trading in February with a total overall gain of 11 percent. Investors are keeping watch to see what unfolds with this Canadian marijuana stock.
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Green Lane Holdings Inc.
Green Lane Holdings Inc. is one of many cannabis stocks that saw a solid push from the start of 2021. However, the company closed January with a bit of dip heading into the following month GNLN saw another uptick in trading. In addition to picking up in trading, the company has had to battle market volatility to do so which can be a good sign of growth potential. In the first week of trading of February, GNLN stock shot up by 27 percent.
From this point, GNLN stock continued to climb up until the second week of the month. The 8th of February to the 10th GNLN stock had a nice rally in trading that produced gains of 35 percent going from $5.60 a share to $7.60. Overall for the entire month, GNLN stock has had a percent 21 increase in trading, and as March gets underway some feel the company is still a marijuana stock to watch in 2021.
KushCo Holdings Inc.
KushCo Holdings, Inc. started in 2021 with a nice upward push to start the new year. The company works in the cannabis industry by providing ancillary services to various cannabis businesses. In the last 4-6 weeks of trading KSHB stock began its rise in 2021 from the start and has continued its rise heading into March. Although closing January on the downside the start of February was a different story.
February 1st the 5th KSHB had a 32 percent increase in trading and the following week was no different. From the 5th to the 10th of February KSHB stock was able to sustain its upward momentum and once again had another spike in trading. During this rally KSHB stock hit gains of 13 percent. However, from this time KSHB stock has dropped in trading with an overall 7 percent increase for February. As we enter into March investors remain speculative about this marijuana stock’s market performance in 2021.