As marijuana stocks still battle to reach higher market levels some are still holding a decent market position. Many investors are worried about the uncertainty with the current downward trading cannabis stocks are facing. Now, this is not to say some many new and seasoned investors haven’t been loading their portfolios up with top marijuana stocks.
As most of the sectors are down this presents a good buying opportunity for those looking to invest in marijuana stocks. Even with how long the cannabis sector has been trading down on the day it recovers big gains will be made. In addition to the overall market recovering many people since back in November did a great amount of speculative trading. This was because of promises of federal cannabis reform which as of today is now at a standstill.
This comes from Biden not giving a concrete answer as to whether he will enact policy change if the bill made it to his desk. Back when Vice President Harris said she would pass a federal reform if elected has currently failed to do so. During that time many people were buying marijuana stocks based on speculation of when cannabis would be federally legal. Now its seems that it will take longer than expected even with more states voting to legalize cannabis in some form.Cannabis Stocks And Market Updates
Analysts are hopeful that things will soon rise with pot stocks even though there is no definitive time frame. For now, investors are buying the dips and remaining as patient as they can until more momentum enters the sector. With how long this downtrend has carried on hopefully marijuana stocks begin to trade up sooner than later. The cannabis stocks mentioned below are just a few examples of plays that may see better trading heading into next month.Marijuana Stocks To Watch In 2021Green Thumb Industues Inc.
Green Thumb Industues Inc. over the last few months has been affected by the drop in trading. However even with GTBIF stock trading down it still holds a promising market level. In fact over the last 12 months of trading GTBIF has been able to rise in ways other cannabis stocks have not. Over the last 2 months of trading has been tough for GTBIF stock as the company has lost its momentum from the start of 2021. At the start of the new year, GTBIF stock looked like there was very little in its way to stop from reaching new highs.
Shortly after mid-February right after GTBIF stock did reach its new all-time highs is when much of the sector began to drop. In March GTBIF stock had moments where trading looked like it was starting to recover but did not last long. For practically all of March, GTBIF stock was trading down. From the 8th to the 17 of March as mentioned above was the time in which GTBIF stock began to trade up. Yet right after the 17th, it was all downhill even for most of the trading right now in April. However, at the close of this past Friday GTBIF stock finished the day green with a small uptick in trading to close the week.
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Curaleaf Holdings Inc. has been one of the more favored cannabis stocks to watch as investors feel this holds more value as a long-term play. In the company’s most recent news Curaleaf is getting ready to release its first-quarter 2021 earnings and operational results after the close on May 10th. As well the company has been able to set a precedent as over the last year and through a pandemic, Curaleaf continued to expand its operation.
Also over the last few months of trading CURLF stock has been one of the few cannabis stocks that have started to slowly recover. Looking back from the start of March CURLF stock was still dropping in the market but found some upward momentum. From March 8th to the 9th CURLF stock had a small jump in trading before dipping down the rest of the month.
Currently in April CURLF stock has now found some more momentum which has led to an uptick in trading. Hopefully the start of next week Curaleaf will be able to sustain this momentum to reach even higher market levels. 2 weeks ago Curaleaf released news on the opening of two new locations in Horsham and Philadelphia. These new locations make for Curaleafs 11th and 12th locations in Pennsylvania.
“We are pleased to expand and strengthen our retail presence in Pennsylvania, offering our unparalleled patient care and education, as well as access to premium cannabis products,” said Joe Bayern, Curaleaf Chief Executive Officer. “We look forward to serving these communities and anticipate that demand will quickly surpass projected sales in this market, as cannabis continues to gain acceptance for a variety of health and wellness needs.”