Are These The Best Canadian Marijuana Stocks To Buy Before May? 2 To Watch This Week
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2 Marijuana Stocks To Watch Before Next Month
As marijuana stocks still wait for better trading there is still time to build up your investment portfolio. With only a few cannabis companies starting to see better trading now is the time to consider looking for top marijuana stocks to buy. Now there is no concrete way to know exactly when things will rise again. With this uncertainty of when things will recover further investors are looking to prepare themselves for the day that happens. However, like any good investment, you must make sure you do your research beforehand.
You want to have as much information as you can. For example, you want to look into the most recent company info and financials. As well as looking into past trading patterns so you can have an idea of how a particular stock has performed during a downtrend in the past. Right now the big focus is the U.S. cannabis industry especially with 2 big pieces of cannabis legislation that Congress may soon pass. First, we have the SAFE Banking Act which is now waiting on the Senate to cast its vote. This cannabis bill would allow financial institutes to take on cannabis businesses as clients without fear of federal regulators.
Next, is a bill being created by Senate Majority Leader Chuck Schumer. His bill would aim to legalize cannabis on a federal level. If and when cannabis does become legal in the eyes of the federal government we may see marijuana stocks rally during this time. With marijuana stocks still having trouble reaching better market levels, investors are remaining patient as they keep an eye out for any changes. With May soon approaching the cannabis stocks mentioned in this article may start to see better trading before the close of trading in April.
Marijuana Stocks To Watch This Month
Cronos Group Inc.
Cronos Group Inc. is one of the few Canadian marijuana stocks that has started to see better trading. With entering the start of the new week will CRON stock be able to continue to rise and sustain its current upward momentum? As one of Canada’s top marijuana stocks to watch investors remain hopeful that CRON stock will yield the results shareholders want to see.
Back in February, the company released its 2020 Q4 results. Some key things to note during this time is how Cronos continued to develop the PEACE NATURALS™ brand in the Israeli medical cannabis market. Also, the company for the 2020 year produced net revenue of $46.7 million. This made for a $23.0 million jump from Full-Year 2019.
“Our fourth quarter 2020 results are the summation of the hard work and perseverance the company has put into this past year despite the challenges of 2020. As we look to 2021, I’m incredibly excited about the teams we have supporting our brands and the breakthrough research and development (“R&D”), innovation, and exciting marketing campaigns Cronos Group plans to execute on. We are poised to build upon the growth we experienced in 2020 as we continue to push cannabinoid innovation and differentiated product offerings under our portfolio of brands,” said Kurt Schmidt, President, and CEO of Cronos Group.
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Aphria Inc. is another Canadian marijuana stock that investors have been watching closely. Over the last few months, APHA stock has been trying to sustain any market momentum it can find. After posting its recent earnings investors have been following this marijuana stock to see what’s next to come. Also, the company has reached a definitive agreement with its partnership with Tilray Inc. This partnership will make up the biggest cannabis company in the world. However, nothing yet has emerged from this deal. Trading at the start of March was met with a volatile start, besides, a drop in trading.
It was not until March 5 when APHA stock started to see a small recovery period. From the 5th to the 15th of March APHA stock saw gains of 41 percent. Yet after this upward push APHA stock was not able to keep this uptick going. APHA stock the rest of March dropped 17 percent from the 15th and heading into April was no different. At the start of April APHA stock continued its downtrend with a drop the first week and a half of the month. The drop in trading from the 1st of April to the 9th made for a 12 percent loss in trading.
Final Thoughts On APHA Stock And Market Performance
Pushing forward throughout April APHA stock has continued to fall but has had small upticks in trading along the way. Currently APHA stock has once again started to push back up in the market. Especially In a time when most cannabis stocks are still trading down. The hope for shareholders is that APHA stock will be able to keep this bit of momentum going. With a goal to reach even higher market levels. However in a market with much uncertainty, the only thing shareholders and investors can do is keep watch. As its possible for more action to take place as May quickly approaches.