3 Top Marijuana Stocks To Watch This Month
At the start of the new year, marijuana stocks had a nice pick up in momentum. However, In the last half of February, marijuana stocks have been dipping a bit more in trading. Now some investors may see this as an issue while others see it as an opportunity to buy top marijuana stocks at lower prices. Now that we are in March cannabis stock is looking to recover from February lows.
As well there is still a great deal of speculation surrounding cannabis reform on the state and federal level. If the U.S. can end cannabis prohibition it will open more doors that will help expand the global cannabis industry. So with this potential of federal cannabis reform, more people are looking for ways to get involved in the cannabis industry.
Much of the recent surge in money that has entered the sector has been with investing in cannabis stocks. Yet some investors who have the money to do so have invested directly into the company instead of the market. For those who have invested in marijuana stocks most of them have been doing so since this past election. Back in November was what some might say the initial boost in market momentum for cannabis stocks.
Now that we are in 2021 some of the upticks in trading have continued until the end of February came around. Some analysts feel that even with marijuana stocks dropping in the last few weeks another bounce may soon be on the way. For now, investors are keeping watch as some are looking for the top marijuana stocks to buy off this dip. Below are a few marijuana stocks that even with this downtrend display solid growth potential as a potential investment in 2021.
Top Marijuana Stocks To Watch Right Now
- Trulieve Cannabis Corp. (OTC:TCNNF)
- Planet 13 Holdings Inc. (OTC:PLNHF)
- GrowGeneration Corp. (NASDAQ:GRWG)
Trulieve Cannabis Corp.
Trulieve Cannabis Corp. is one of the better performing cannabis stocks to watch from the start of the new year. In the last 4-6 weeks of trading, the company has been able to sustain its upward push in the market. Although TCNNF stock dropped the last few days of trading in January the company still closed the month with a subtle market increase.
Heading into February the company was able to build more momentum and see a nice upward push to start the month. In the first week of trading for TCNNF stock in February, the company saw gains of 15 percent. From this point, TCNNF was able to continue to climb in the market.
The following week of trading from the 5th to the 10th of February TCNNF stock was able to produce more gains with a 10 percent rise in trading. The remainder of the month TCNNF stock dip a bit in trading but was able to finish out the month with a total increase of 15 percent. However down from its previous month Trulieve is working to see more momentum as trading in March continues.
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Planet 13 Holdings Inc.
Planet 13 Holdings Inc. is a unique cannabis company and marijuana stock to watch. The company is known for its aptly titled cannabis superstore. Over the last month and a half of trading, the company has been working to climb higher in the market. At the start of the new year, PLNHF stock had a small boost of momentum before dropping most of the month. When the start of February happened PLNHF stock was able to rally for the first 2 weeks.
During this time the company was able to go from $5.28 a share to $8.19 on the 10th this push made for a 55 percent increase in trading. Even though Planet 13 was not able to sustain this push at the time it was a chance for shareholders to make a profit from the recent downtrend of the company. Overall the company closed out February dropping in trading but still at a share price that was higher than the start of the month. Currently PLNHF stock is down in March and the company is looking for any momentum it can find. Hopefully, with federal cannabis reform, it will bring an increase in market momentum which can help PLNHF stock recover in the near future.
GrowGeneration Corp. is holding a valuable spot in the industry as the company owns and operates a chain of hydroponic stores. In the last 2 months of trading GRWG stock has been working past market volatility. From the start of 2021 GRWG stock had a nice uptick in trading to start the year. Now due to how volatile cannabis stocks are for every increase the company had was also followed by a slight downtrend. However, even with dips in trading GRWG was able to recover to higher levels.
For example, in February GRWG stock went from $46.21 a share on the 1st to $64.58 10th. This made for an increase of 39 percent in trading before dipping down on the 11th and rising back up again on the 16th of February. Furthermore, the company has dipped from the previous trading in February but so far in March has seen a small uptick that the company looks to sustain to higher levels.
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