With the start of a new week, marijuana stocks have started to pick up a bit in the market. In the last few months, many cannabis stocks were faced with a big downtrend in trading. This led to many marijuana stocks declining in value. As well this drop gave investors a chance to buy some of these top marijuana stocks a lower entry points. However, the market has yet to truly show a solid sign of recovery but today some cannabis stocks have started to look better in how they are performing in the market.
As the Canadian side of the industry continues to rise in cannabis sales the U.S. has captured the bulk of the market. The U.S. cannabis industry is the big focus for many investors. Especially with all, the hard work politicians are doing to pass better cannabis legislation. There is still a great amount of untapped potential and with better cannabis laws in place, it’s possible to reach this potential. For example, if congress passes federal cannabis reform, it will only further the reach of the U.S. marijuana market.
For instance, if and when federal reform happens it will allow for other cannabis companies outside of America to do business in the U.S. This will only add more value to the overall cannabis industry as the sector continues to grow. When the operation of a publicly-traded cannabis company performs well it may positively impact the way its trades. Right now is a good time for those who are looking for cannabis stocks to add to their portfolio. Mainly due to the sector not having fully recovered which can offer good buying opportunities. Below are 2 marijuana stocks that may offer investors some value before momentum starts to pick up once again.Marijuana Stocks To Watch Right NowGreen Thumb Industries Inc.
Green Thumb Industries Inc. has been one of the top-performing cannabis stocks to watch over the last 12 months. Even while feeling the impact of the current downtrend in the sector GTBIF stock still holds a decent market position. Over the last year of trading GTBIF stock has jumped up by over 280 percent. This alone has proven why Green Thumb remains a top marijuana stock to watch. Now while the company has dropped in trading over the last few months GTBIF stock has slowly begun to see better trading.
From the end of January to the 10th of February, GTBIF stock has seen a nice uptick in trading. Looking back at January 27th to the 10th of February GTBIF stock went on a nice run that delivered solid gain for shareholders. In fact during this time, GTBIF stock hit new all-time highs with a total 52 percent increase in trading. However, shortly after this period, GTBIF was not able to keep this upward push going and dropped the rest of February.
Entering March the company still traded down with a small recovery period from the 8th to the 17th. Yet once again GTBIF stock was not able to continue to recover and fell the rest of March. Currently at the end of April GTBIF stock has now started to show a pick up in trading. The question becomes will GTBIF stock be able to keep this climb going heading into May?
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Greenlane Holdings, Inc. has become one of the more favored marijuana stocks to watch. This past month the company announced a merger between itself and Kushco Holdings Inc. This deal would make create the biggest ancillary cannabis company in the industry. It seems ever since Aphria Inc. and Tilray Inc. announced their partnership others have started to follow suit. Now like many other cannabis stocks GNLN stock is not alone in the current drop the sector is facing.
However, in the last few months, GNLN stock has been working on building back its lost momentum. The start of the new year came with a boost in trading but heading into the following month the continued upward push was short-lived. It seems that the first 9-10 days of trading in February for most marijuana stocks came with some solid market action. During these 10 days for the company GNLN stock reached gains of 72 percent. Yet like most other marijuana stocks after the 10th of February GNLN stock started to fall the rest of the month.
As well GNLN stock is a bit of volatile play so even while trading down small spikes in trading did occur during March. Trading in March for GNLN stock was mostly on the downside which carried on into April. However, now that the last week of April is here GNLN stock has started to see a glimpse of better trading. What shareholders are waiting to see is whether or not GNLN stock will be able to keep up this increase in trading heading into May.