Are These Marijuana Stocks Ready For More Gains
During this current pandemic, marijuana stocks and the cannabis industry have been pushing new limits. So far the start of the new year has kicked off with some marijuana stocks like Green Thumb Industries Inc. (OTC:GTBIF) reaching new all-time highs. A lot of positive sentiment has found its way into the market based on the speculation of cannabis legislation. The talk of the industry is what’s next to come for the future of cannabis legislation. Amid this pandemic, the cannabis sector due to being deemed essential was able to thrive when other businesses were not so lucky. Back in November due to the increase in cannabis demand many pot stocks were able to report solid revenue earnings reports during that time.
Over the last few weeks, many marijuana stocks have continued to catch an upward push in the market. Furthermore, when the Democrats took hold of the Senate this caused a lot of excitement for the industry. The reason behind this was when the House passed the MORE Act the Senate was controlled by Republicans and many thought it wouldn’t pass. However, now that things have changed along the future of the industry is in a promising position. Many also believe that with Vice President-Elect Kamala Harris being in favor of cannabis reform this will be the extra push behind federal cannabis reform. While all this has been going on cannabis stocks have been able to continue pushing in the market. Below we will discuss 2 marijuana stocks that if federal cannabis reform happens some believe it will cause them to rally.
Pot Stocks To Watch In 2021
Village Farms International, Inc. (NASDAQ:VFF)
Neptune Wellness Solutions Inc. (NASDAQ:NEPT)
Village Farms International, Inc.
During this entire pandemic Village Farms International, Inc. is one of the handfuls of marijuana stocks that has been able to push up in the market. If you are not familiar with the company Village Farms is known as one of the biggest greenhouse cultivators in North America. Currently, the company is using its experience with greenhouses to run bigger operations with low-cost setups. Throughout 2020 the company has been able to recover quite well after most marijuana stocks began to dip back in March. At this point, VVF stock was able to make its initial incline in the market.
From May 13th to June 10th VVF stock shot up 129% before dropping 33% on June 26th. Now this dip. Now from this point, small spikes in trading have occurred before dipping back down in August. Moving forward it wasn’t until mid-November when VVF started to push up even higher in the marker. Going from November 13th to the 30th VVF stock increased by 92%. Looking at December to January VVF is seeing gains of 26% during that time. All in all the company is showing much growth in the market as Village Farms continues to be a marijuana stock to watch in 2021.
Neptune Wellness Solutions Inc.
Neptune Wellness Solutions Inc. is one marijuana stock that has been hit hard by market volatility. For most of 2020 year NEPT stock has been facing a downward trend in the market. It’s safe to say that March wasn’t a good time for most marijuana stocks but shortly after Neptune Wellness was able to recover a bit before continuing its downward path. In April VVF stock was able to recover and post gains of 104%. Now, this didn’t last for long as after April NEPT stock dipped a few points on May 5th before shooting up 53% on May 27th. Over the span of June through December NEPT stock began to average down. However, in the new year, NEPT has started to pick up more momentum as it looks to make its way back up in the market.
To get a better understanding of the company Neptune Wellness Solutions Inc. is a worldwide health and wellness company. The company runs its business in the Canadian cannabis, global medical cannabis, and hemp industries. As well Neptune Wellness concentrates its time on the extraction, purification, and formulation of cannabis products. Currently, hemp and
CBD are some of the biggest industries to emerge in North America over the last several years and as it stands and Neptune Wellness is a key player in the game. So with this much progress and innovation is in the works for both companies. As 2021 has already started on a good note the goal is to keep pushing forward as the industry and investors prepare for what’s next to come.