What is the Cannabis Industry Up To This Month?
Since the beginning of the year, the cannabis industry has been on a wild ride. In January, we saw the effects of Covid begin to play out in some of the most popular marijuana stocks in the industry. This includes the likes of Green Thumb Industries Inc. (OTC:GTBIF), Village Farms International Inc. (NASDAQ:VFF), and OrganiGram Holdings Inc. (NASDAQ:OGI). These marijuana stocks are some of a few that took the brunt of Covid related market volatility. But, soon after Covid hit, cannabis became an essential business in the U.S. and Canada. By March, things quickly began to get better.
Now only a few months later, we have seen many of the top pot stocks to watch climb in triple digits to their current prices. With that, we continue to see that there is a great deal of positive sentiment in the cannabis industry. Over the past few years, a lot has changed. Although marijuana growers seem to be in focus most of the time, there are plenty of pot stocks that work in other areas of the industry. This includes companies like Innovative Industrial Properties Inc. (NYSE:IIPR) and other ancillary marijuana stocks. With that, let’s take a closer look at the current state of the cannabis industry.
Where Marijuana Stocks Are in September 2020
As of September 2020, things are still quite volatile in the cannabis industry. We have seen an overall bullish trend over the past four months, but no one can truly predict how long this will last. Currently, there are 33 states in the U.S. that have legalized marijuana for either medicinal or recreational purposes. In addition, many countries outside of the U.S. have been working to put in new legislation as well. If we just focus on America, we see that the upcoming U.S. election is a major catalyst for industry growth.
With several states having cannabis legislation on the ballot this November, 2020 could be the year things change dramatically. In addition, there are quite a lot of up and coming cannabis stocks that have yet to receive critical appeal from investors. This means that there is a great deal of untapped potential in the cannabis industry. While we don’t know how long this current bull run will last, we do know that the industry has a lot to hope for in the near future.
Marijuana Stocks to Watch Finding the Right Cannabis Company
When it comes to picking a pot stock to watch, there are a few things to keep in mind. For one, investors should always be considering the fundamentals of a given pot stock. This includes financials, and where it may be headed in the near future. Outside of that, investors should be concerned with what a company is doing to be different in the industry. Because the cannabis industry has grown so quickly, there are a lot of companies that are operating similarly to one another.
With so many different areas of the cannabis industry to invest in, it seems that the opportunity with marijuana stocks is quite large. Investors simply need to know where to look. With that, investors should keep a close eye on where the industry at large is headed. By staying up to date with the news, investors can have the best chance at seeing possible success.