2 Marijuana Stocks That Should Be On Your July Watchlist
Currently, many marijuana stocks are trying to sustain any upward trading they can. With that said some cannabis stocks fluctuate in price more than others. However, as of now most of the sector is working on achieving a better recovery. Even as the sector continues to build back its momentum a stronger upward push has yet to be seen. This would help some investors to take a long-overdue profit on their investment.
Yet even with the need for better trading, the growth potential of some companies has been intriguing to watch. This has led to some investors finding a renewed interest to invest in cannabis once again. From mid-February to about the end of April there were a lot of concerns when talks about investing in cannabis stocks. This was mainly due to the sector being hit by a long downtrend in trading. This left a strong impact on investors and the market as a whole.
Furthermore, with things starting to look better for the sector many cannabis companies are trying to maintain any rise in momentum they can. Over the last few months, the growth and innovation outside of the market has contributed to the current market momentum. The progress within the cannabis industry can also play a factor in other areas such as the publicly traded side of the business.
Not to mention all the politics and new legislation being introduced in regards to cannabis. Which all plays a part in the development of the industry. As most know when more progress takes place for the cannabis industry it can at times resonate well for the market side of things. With that, it helps create more attention for more people to become invested in legal cannabis especially now in 2021.
Marijuana Stocks To Watch In July 2021
- Innovative Industrial Properties, Inc. (NYSE:IIPR)
- WM Technology, Inc. (NASDAQ:MAPS)
[Read More] Are These Marijuana Stocks Worth Buying Right Now? 2 To Watch In July
Innovative Industrial Properties, Inc.
Innovative Industrial Properties, Inc. is one of the more well-positioned cannabis companies in the industry. is a self-advised Maryland corporation focused on the acquisition, ownership, and management of specialized properties leased to experienced, state-licensed operators for their regulated medical-use cannabis facilities. Trading in May was a bit volatile for the company.
Nonetheless even as IIPR stock was fluctuating in price the company was still able to move up in the market. Initially in the first 5 days of trading in May IIPR stock began to dip down. From May 5th to 7th IIPR stock had a small 2 day run before dropping once again. During these 2 days, the company saw a 6 percent rise in the market. It took till the 12th of May for the company to begin pushing back up in the market. Continuing from the 12th of May till the close of the month IIPR stock was up 8 percent.
Moving into June trading for IIPR stock was still volatile but consistently moving up. Overall for the month of June IIRP stock reached gains of 3 percent but displayed solid growth potential. As of July the company has done well maintaining its current market position. Currently IIPR stock is up from its previous close with more opportunity to see a bigger rise in trading this month. With this investors keep watch to see what further develops with IIRP stock.
WM Technology, Inc.
WM Technology, Inc. is another cannabis company that holds a unique place in the marijuana space. The company provides software and technology solutions to the cannabis industry. It operates Weedmaps, an online directory of cannabis retailers and information site for cannabis producers and consumers. Which outside of select few is the top marijuana app cannabis lover could have.
Trading for MAPS stock at one point time was at a better market level. The second half of May was when the company began to see a slight recovery in trading. From May 13th to the end of the month MAPS stock was able to generate gains of 16 percent. Coming off a drop in trading this was a strong way to head into the following month. At the start of June, MAPS stock was still able to keep its rise going.
MAPS stock from the 1st of June to the 8th saw a 14 percent rise in the market. Now shortly after a small dip did occur but since then MAPS stock has recovered. Even as the company faces volatile moments in the market it has shown better signs of upward trading. Which is important for current and future shareholders to see when looking for top marijuana stocks to buy.
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Looking from June 8th to the 17th which was MAPS stock’s highest point in the month reached a market price of $20.97. This short-run made for gains of 15 percent yet trading for the rest of the month started to dip back down. Currently, MAPS stock is still down but as time moves on its possible to see things pick up as trading in July continues
