Will These Marijuana Stocks Catch More Momentum
Heading into 2021 many marijuana stocks to watch have displayed solid growth potential. Back in November, many top marijuana stocks posted record-breaking Q3 earnings. This along with other things like Covid and cannabis legislation has created more momentum in the market. If the Senate does pass the MORE Act it will bring new beginnings to the cannabis industry that weren’t present before. Many believe proper cannabis reform on the federal level is all that is needed to take the industry to a new level. Now, there are no guarantees investing in any stock but because marijuana stocks are incredibly volatile prices can change quickly.
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Yet not all marijuana stocks have had this same momentum. However, this new year may be one for the books for the cannabis industry. As the U.S. markets start to shift in preparation for new cannabis legislation some marijuana stocks are waiting to see an uptick like other top marijuana stocks. Just because a majority of pot stocks had better gains heading into December doesn’t mean all cannabis stocks had gained. Now, this can be due to poor company performance to stay compliant with shareholders or operational issues to name a few. Yet whatever the problem a solution will need to happen to avoid any further price drops in the market.
Is Now A Good Time To Invest In Marijuana Stocks
With more attention surrounding cannabis now is as good a time as any for some marijuana stocks bounce back. It may seem like the cannabis industry has been around forever but in actuality, cannabis stocks are still a young market. As mentioned above this means volatility affects the market in a major way mainly for the more popular pot stocks. That’s not to say some of the small-cap plays arent volatile as well. As we get ready to head into the new well discuss a few marijuana stocks with the potential to rebound in 2021.
Pot Stocks To Watch In The Cannabis Indsutry
Organigram Holdings Inc. (OGI Stock Report)
Tilray Inc. (TLRY Stock Report)
Marijuana Stocks To Watch For A Market Bounce: Organigram Holdings Inc. (OGI )
Organigram Holdings Inc. is said to be top marijuana stock. However over the last few weeks, OGI stock has dropped in price. Recently the company posted its Q4 2020 earnings which showed good results. In Q4 2020 the company increased its net revenue increased by 25% as well as increasing its gross revenue by 32%. Gains like this are typically a sign of solid growth potential. Although this a isll positive results this did not resonate the same for OGI stock. Organigram Holdings Inc. is a cannabis company that specializes in premium cannabis cultivation while developing cannabis derivatives throughout Canada. They mainly try to target users who are patients and adult recreational consumers.
In the past 2 months, OGI stock has had some uptick yet ever since march OGI stock hasn’t fully recovered. Back in March, the market crashed leaving many marijuana stocks with good entry points before recovering. Since that time OGI stock has been trading down but small upward price movement has occurred. With 2021 around the corner analysts believe Organigram stock may rise again. Especially if cannabis is legalized on a federal level. For now, investors are waiting to see what develops with this marijuana stock to watch.
Marijuana Stocks To Watch For A Market Bounce: Tilray Inc. (TLRY)
Tilray Inc. was at one time considered to be a top marijuana stock to watch. However, in recent times some analysts feel differently about Tilray. Similar to Organigram TLRY stock hasn’t fully recovered from the crash back in March 2020. Although just like OGI stock investors were able to leverage TLRY stock dropping make a profit. For instance, if you bought TLRY stock when it was $6.00 a few days into November and sold on November 9th you would have been up over 65%. If you don’t know Tilray Inc. is more of a pharmaceutical cannabis company.
The company runs its operation by providing study solutions for cannabis research as well as providing cannabis products to pharmaceutical companies. Tilray like other cannabis companies also grows and processes its own cannabis. With the House soon to vote on the Medical Marijuana Research Act this may be the catalyst needed to see more upward momentum in the market.
This new research bill would be huge for a company like Tilray who is heavily involved in cannabis research. This Medical Marijana Research Act has the ability to present new opportunity to cannabis companies like Tilray as well. So with this, the company is working to establish a better position so that the new year has better market action. As things inch closer to 2021 Tilray is still viewed as a marijuana stock to watch.
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