Will These Marijuana Stocks Be On Your May Watchlist?
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2 Marijuana Stocks With Potential To See Better Trading In May
Marijuana stocks this past week have started to see a small increase in momentum. However, on the 29th of April, some cannabis stocks started to drop once again. As many investors and shareholders wait for earnings to be released some feel May will bring some much-needed momentum. Over the last 2 months of trading, the entire cannabis sector has been trading down. Some marijuana stocks have had small recovery periods during this time.
Yet ultimately they all started to drop back down. Currently, in April some cannabis stocks have been able to catch small waves of a moment that have allowed some investors to make a profit. Now trading isn’t anything near what it was in early February but some analysts feel trading will rise for marijuana stocks in the near future.
The cannabis industry has shown to be one of the most progressive and resilient industries across the globe. Especially in America where many investors have made the U.S. side of the cannabis industry the big focus. Many U.S. cannabis companies have been able to show continuous growth and gains while other non-U.S. cannabis companies have struggled in this area.
As well during this current pandemic companies like Trulieve Holdings Inc. (TCNNF) and Green Thumb Industries Inc. (GTBIF) have continued to expand its operation. This growth occurred during a time when other businesses were closed and but due to cannabis being deemed essential marijuana businesses remained open As well during this time cannabis became a product of great need and an increase in marijuana sales started to come in.
Cannabis Sector Update 2021
Much of progress was initiated back in November a time when trading was on the rise. Fast forward to 2021 and trading had its high moment and with some cannabis stocks starting to slowly pull up hopefully next month pot stocks will be able to show consistent upward price movement. At the start of 2021, a majority of the cannabis sector was able to rally in the first week of January as well as the first week and a half of February. With April almost finished many investors are remaining patient as they wait to see sustainable momentum for the sector. With much trading left in 2021 only time will tell how marijuana stock performs in the market. The cannabis companies mentioned in this article are just a few possible cannabis stocks to watch heading into next month
Marijuana Stocks To Watch Today
Innovative Industrial Properties, Inc.
Innovative Industrial Properties, Inc. is one of few cannabis companies that work in cannabis real estate. The company purchases different types of properties then leases them back to licensed cannabis companies. In recent news, the company has acquired land in Michigan as well as expanding its real estate partnership with Green Peak Industries. This building will be used by Innovative Industrial Properties as a regulated cannabis cultivation, processing, and distribution facility.
“We have been Skymint’s long-term real estate partner since 2018, and are excited to partner with them again on the redevelopment of this new property that is expected to dramatically expand Skymint’s cannabis production capacity to meet the tremendous demand across the state, and support Skymint’s continued dispensary expansion plans,” said Paul Smithers, President and Chief Executive Officer of IIP.
Even in the midst of a downtrend over the last 6 months, IIPR stock has been able to rise in the market. Even in the first 6 weeks of the new year, IIPR stock continued to rise in trading until the end of February. Around that time many marijuana stocks started to fall and IIPR stock was no different. This drop has even continued through much of April. However, even being down in the market IIPR stock still holds a decent market level to recover from.
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Neptune Wellness Solutions Inc.
Neptune Wellness Solutions Inc. is another marijuana stock some investors have kept an eye on since the start of 2021. Now looking at NEPT stock trading history and you will see a point in time when better trading did exist for the company. Much of the trading that has happened over the last 12 months has been quite volatile. In the last year, NEPT stock has fluctuated in price. Meaning NEPT stock has kept moving from high to low quite often.
But more recently the company has been trading down a bit more. Looking back from March to April and the company has had trouble maintaining a better market position. Yet in the last few days, NEPT stock saw a small increase in momentum that was short-lived. If you look at earlier trading for the company from the 8th to the 12 of March NEPT stock had a small bounce in trading some felt may continue the rest of the month.
Final Thoughts On NEPT Stock And Market Performance
Unfortunately the company was not able to keep its upward push going falling even more for most of April. Shareholders may start to feel uncertain about this marijuana stock. However, others feel next month better trading may take place for the entire sector. In recent news, the company has entered into a supply agreement with Alberta Gaming, Liquor, and Cannabis (AGLC). As well the company has furthered its presence to over 1600 retailers.
“We are very pleased to announce this supply agreement and the upcoming launch of our Mood Ring products in the Alberta market. Alberta was the early leader in Canadian cannabis store rollout and combined with our previously announced agreements with British Columbia, Ontario and Quebec makes our high quality and affordable cannabis products accessible to over 80% of the Canadian cannabis market to date,” said Michael Cammarata, Chief Executive Officer and President of Neptune.