2 Marijuana Stocks To Watch That May Pick Up More Momentum
Many times when new traders want to invest in marijuana stocks they often focus on popularity versus value. This isn’t to say the top marijuana stocks to watch don’t offer value but their other options. Some of the options like Indus Holdings Inc. (INDXF Stock Report) who are less known but have been building more value in the market can be good options as well. Pot stocks, as well as other stocks all, work within a small mid and large-cap range which is the market value of a publicly-traded company’s outstanding shares.
No matter the market cap size value can always be found if you know which marijuana stocks to watch. Analysts have projected the global cannabis industry has the potential to be worth $50 to $100 billion within the next decade. Granted this number isn’t a guarantee but with how fast the industry is growing it’s a strong possibility. Especially with 5 new states adopting some form of cannabis legislation each state can account for an additional billion dollars in the U.S. cannabis industry.
The Direction Of The Top Marijuana Stocks
In midst of this pandemic medical and recreational cannabis sales had a big surge due to stay-at-home orders caused by Covid. Because of the increase in cannabis demand, many companies back in November posted strong Q3 earnings. Currently, we are still going through this pandemic and the cannabis demand is still high. Which is still generating more revenue for a lot of cannabis companies. If you look at the market today a good portion of this uptick in trading has not only to with Covid but the hopes of federal cannabis reform. So when looking for marijuana stocks to buy always make sure you have enough info to make the best choice when investing. So with this let’s go over 2 marijuana stocks that provide the value you are looking for.
Cannabis Stocks To Watch This Year
Marijuana Stocks To Watch In 2021:Cronos Group Inc. (CRON)
Cronos Group Inc. is one of many top marijuana stocks that have continued to make traders watchlist and portfolio. So far for the 2020 year CRON stock is up o er 27%. This isn’t a bad price movement at all just like other top marijuana stocks it shows consistent growth potential. Although the company reported a gross and operating loss, Cronos was able to increase its net sales showing potential still exists for this marijuana stock. However, during the 2020 year, Cronos has made some progress in its business.
In 2020 the company started a new CBD brand of products called Happy Dance. This came to be after entering into a partnership with Kristen Bell. As well Cronos Israel was given the green light to sell pre-rolled joint oils in Israel. Also this year the company expanded its CBD research and has chosen to rebrand its name to Cronos Research Labs. This progress goes to show that even if you take a loss somewhere down the line you need to continue to bounce back. As we are halfway through December Cronos is maintaining its position as a marijuana stock to watch.
Marijuana Stocks To Watch In 2021: 4Front Ventures Corp.(FFNTF)
4Front Ventures Corp. is a well known multi-state operator in the cannabis industry. The company has established its self by working with over 20 cannabis brands. As well the company has operations set up in 5 different states. One of those states happens to be Illinois which has recently gone legal and has big hopes for growth potential. Although slightly down from the close on December 15th over the last few months FFNTF stock has been moving up in the market.
Looking back at the start of November when FFNTF share price was 0.60 to December 15th you see that FFNTF stock is up over 33%. Many marijuana stocks have been displaying consistent gains which is a good indicator that things may continue this way heading into the new year. Now as mentioned before this upward trend in the market won’t last forever so it’s best to capitalize on it while you still can. Just last week on December 9th the company dropped news about how they will focus its efforts in the Illinois market.
With this, they also announced that 4Front will open its second Mission Dispensary in Calumet City, IL on December 15th. Many believe that the company is well-positioned to dominate the cannabis market in Illinois. This is due to it being a brand new market with fewer players than other states. Furthermore, it gives the advantage to cannabis companies like 4Front that already have a presence in the Illions cannabis market. Which can play out in the companies favor in the short and long term. With this, the company is setting up to prepare for the future as 4Front Ventures looks to continue this momentum heading into the new year.