U.S. Marijuana Stocks And Current Market Trends
As we head into the Christmas week in December investors are looking for marijuana stocks to buy for 2021 gains. In general cannabis, stocks have made shareholders some substantial returns in 2020. For the most part, an investment into the top U.S. pot stocks to watch in 2020 would have benefitted your portfolio. Currently, U.S. marijuana stocks like Green Thumb Industries (GTBIF Stock Report), and Curaleaf Holdings Inc (CURLF Stock Report) have reached year to date highs in December. In addition, these companies also have brought in record revenue for the latter part of the year. In essence, this is showing investors an example of what a growing cannabis industry could look like for the next few years.
Be that as it may, with so many options showing potential for next year it becomes difficult for investors to find the right pot stocks. Presently in the cannabis market, U.S. marijuana stocks look to be solidifying gains from earlier in the month. In reality, most cannabis stocks could be establishing a new base before they continue with more upward momentum. So long as stock market optimism continues, and U.S. federal reform is addressed in the coming months the potential for marijuana stock gains could be substantial. On the other hand, investors must always keep in mind that leading marijuana stocks have shown market volatility in the past and could be susceptible to more in the future.
Canadian Cannabis Stocks And The American Cannabis Market
Because U.S. marijuana stocks have climbed so much in the market in the past few months some investors are moving forward cautiously. In the event, cannabis stocks pull back some because the MORE Act does not pass in the Senate investors could start a position at lower levels. Or they could look for value in other areas of the market. For example, last week most leading Canadian cannabis stocks have lost some of the gains they experienced earlier in the month and in November. In particular companies like Cronos Group Inc. (CRON Stock Report) hit a 52-week high of $9.15 but has since dropped down to close last week’s trading at $7.78. In general, this market trend has been consistent throughout most Canadian pot stocks. With this in mind, it might be time to look for value in the best Canadian marijuana stocks for 2021.
Best Canadian Marijuana Stocks To Watch #1: Aphria Inc.
Aphria Inc. (APHA Stock Report) has recently begun to reshape the Canadian cannabis industry landscape with a recent merger announcement. The company is merging with another leading Canadian cannabis company Tilray Inc. (TLRY Stock Report). As the two join forces, they could currently be in consideration as the largest cannabis company in the world. In fact, the two will combine to have a pro forma revenue of $685 million. As it stands Aphria has been positioning itself in 2020…