2 Marijuana Stocks to Watch For The End Of October
Are you looking for the right marijuana stocks to add to your watchlist right now? Whichever part of the process you’re in, it’s good to have a strategy. Regardless of your trading style leading cannabis stocks to watch like Trulieve Cannabis Corp. (TCNNF Stock Report) have performed well during these current market conditions. Notably, Trulieve has trended upward in stock price for the month of October. Since pot stocks are showing momentum in a similar fashion, it’s always good to research what companies are up to.
With this momentum, most cannabis companies have continued growing despite the effects the pandemic has had in the U.S. Given that cannabis companies like Innovative Industrial Properties, Inc. (IIPR Stock Report) have continued to increase their value during the year, the company is showing promise for other pot stocks alike. Innovative gains have captured the attention of many leading hedge fund and institutional investors, as they have become bullish on IIPR stock.
Is It Time To Be Bullish On Pot Stocks?
Bullish sentiment is coming back into the market driving the cannabis sector up going into November. With a lot at stake for the cannabis industry in terms of federal legalization, the hopes are 2021 will give way to a new frontier of acceptance for cannabis. To illustrate if the SAFE banking or More act passes, it will open new doors for the cannabis industry. in addition, they will also be able to have employee payrolls and be allowed to acquire financing and loans from banks if this bill passes. Provided that these things begin to take place, the cannabis industry will keep growing at a fast pace.
It’s good to do research into a number of companies before investing. To be sure you are investing your money in the best cannabis company for your portfolio you should look at a variety of different sized pot stocks. Sometimes with good due diligence, you can discover smaller marijuana companies that hold more growth potential than the larger companies. With this in mind, let’s look into some of the fastest-growing marijuana stocks in 2020 to see which hold the most value.
Top Marijuana Stocks: Curaleaf Holdings, Inc
Curaleaf Holdings Inc. (CURLF Stock Report) is one of the leading cannabis MSO companies in the U.S. Currently, the company operates in 23 states across the nation, with 22 cultivation facilities, over 30 processing sites, and 95 dispensaries. Curaleaf has managed to spend the year expanding its brand with the opening of new locations in states like Florida. As of now, the company has 33 locations in the sunshine state. With the two most recent opening in Pensacola and Panama City Curaleaf also has had success in the derivatives market.
In detail, the companies Select brand has become popular with many cannabis consumers. The Select brand is a leading cannabis oil brand acquired by Curaleaf in 2020. Currently, you can find Select cannabis cartridges in 13 states across the nation. In the event, Curaleaf continues to expand its brand look for CURLF stock to continue making gains. Recently, CURLF stock has been moving up trying to reach its year-to-date high of $9.43 a share. With a stock price of $9.00 as of October 19th CURLF stock is in an upward trend to start the week.
Top Marijuana Stocks: Acreage Holdings
Acreage Holdings Inc. (ACRHF Stock Report) is a vertically integrated cannabis MSO based out of New York City. The company debuted its retail store brand the Botanist in 2018, followed by its award-winning consumer brands in 2019. Currently, Acreage has a total of 28 dispensaries across 15 states and is quickly expanding. Equally important is the recent execution of an agreement with Canadian giant Canopy Growth Corporation (CGC Stock Report). In the agreement, Canopy will pay $843 million for its 70% stake in the U.S. company.
As a result, Canopy will have a stronger footprint in the American marijuana industry. And Acreage Holdings will have access to Canopy’s different cannabis derivative products. For example, Acreage announced a plan to release Canopy’s THC infused beverages in the states in 2021. It’s important to realize that if one of these infused beverages becomes popular it could mean huge success for both companies.
Currently, ACRHF stock has been pushing up in price for mid-October. On the 19th of October, the stock was trading at $3.07 and is working to move up in the market. With Acreage establishing its place in the future of the market look for this pot stock to continue growing.
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