3 Marijuana Stocks That Investors Should Know About
Some may say 2020 had more downs than ups but with marijuana stocks, things took a different turn. From March 2020 many marijuana stocks started to drop when the market went down. However, since then many of the top marijuana stocks have been performing well. Much of this upward momentum in the market during that time was caused by the pandemic. From the start of Covid19 cannabis-related businesses were deemed essential and left open. Because of this when the nationwide shutdown occurred many people were buying more cannabis than usual. This created a surge in the demand for cannabis that companies were working to keep up with. Once investors started to notice more cannabis was being sold and grown cannabis stocks started to rise.
As more cannabis started flying off the shelves then came the presidential election. Vice president Elect Kamla Harris made voice her concern for proper cannabis reform. She even went as far as to promise that she would federally legalize cannabis on day one of being in office. Although that has yet to happen, With this promise and the recent passing of the MORE Act more momentum has entered the market.
Back in November, many marijuana stocks posted record-breaking Q3 earnings. Cannabis Stocks like Trulieve Cannabis Corp (TCNNF Stock Report), Innovative Industrial Properties Inc. (IIPR Stock Report) and, Curaleaf Holdings Inc (CURLF Stock report) all posted amazing Q3 earings and which resonate well for other cannabis stocks. As we push into the new year marijuana stocks like these may be something to watch closely as more momentum starts to build. Below we will discuss 2 marijuana stocks to watch that you may want to consider adding to your 2021 stock portfolio.
Cannabis Stock Watchlist 2021
Marijuana Stocks To Watch In 2021: Neptune Wellness Solutions Inc. (NEPT)
Neptune Wellness Solutions Inc is one of Canada’s well known CBD procurers. The company specializes in the extraction of high-quality hemp to provide full and broad-spectrum extraction products. As it stands NEPT stock has seen better days currently down over 10% for the month of December. However with the increase in cannabis demand and the House passing the MORE Act the company may have the potential to see more momentum in the near future. In a recent company update, Chief Executive Officer of Neptune Wellness Michael Cammarata shared his thoughts.
“We salute the United States government as they embrace the innovation that companies such as Neptune are accomplishing daily. We are readying the Company for future expansion in adult use-cannabis and global hemp, beginning in the United States with the potential for legalization of cannabis under President-Elect Joe Biden.”
If the MORE Act somehow does end up passing the senate it will be a game-changer for a marijuana stock like this. This would allow companies like Neptune Wellness to operate at a different level. For now, Neptune is doing what they can to see more gains and continue being a marijuana stock to watch.
Marijuana Stocks To Watch In 2021: TILT Holdings Inc. (TLLTF)
TILT Holdings Inc. isn’t another marijuana stock that has been dropping in the market. If you look at a 6-month chart you can see how volatile TLLTF stock has been. Further more over this 6 month time period the company has been trading down. Although small gains have been made along the way. Once the price dropped some investors capitalized off that before going TLLTF jumped back up. For instance, look at TLLTF stock when it reached $0.61 on June 3rd, 2020 to its current share price on December 11th TLLTF stock dropped over 50%.
Now If you happen to purchase shares of TLLTF stock on October 28th when shares reached $0.28 and sold on December 9th you may have made a little money. It’s all about knowing when to get in and get out while not hurting your overall position. As things move forward with this marijuana stock investors should keep watch to see what will develop with the company.
Marijuana Stocks To Watch In 2021: Vireo Health International, Inc. (VREOF)
The last marijuana stock on this list is Vireo Health International, Inc. and unlike the above marijuana stocks VREOF stock has been trading up in the market. Just like most marijuana stocks volatility surrounds the market but VREOF stock has managed to post some gains. From the begging of December to December 11th VREOF stock has seen gains of over 17% and up 8% from the same period in 2019. As the cannabis industry progresses marijuana stocks like Vireo Health International, Inc. will be ones to watch heading into the new year.