Marijuana stocks as of late have been rising back up from a slight pullback during last week’s trading. Much of this recent moment for cannabis stocks is coming from a few factors. The biggest one of them all is the fight for better cannabis legislation mainly federal reform. With federal cannabis reform enacted it will create a pathway to other forms of legislation…
For example if and when cannabis federally legal the passing of the SAFE Act should be an easier process. The SAFE Act is a proposal that would allow for banks to legally work in the marijuana business without fear of breaking any laws. Yet currently cannabis is still federally illegal but with a push from top politicians, we may see federal reform happen soon. Next is more states are soon to vote on legalizing marijuana.
Currently more than half of the U.S. has legalized cannabis in some form. From this, it has created a big increase in revenue that has been generated. As well as the tax money from the legal sales that is being used in some states to promote social equity. In addition to being used to help rebuild communities that have been impacted by the war on drugs. With this type of progress, it has played a hand in seeing the better half of the sector start to increase in trading.
As well with the news of further innovation now more people are finding a renewed interest in cannabis investing. Just make sure you conduct thorough due diligence on each cannabis stock you want to buy. It’s always best to know all you can about the company beforehand. The reason for this is to give yourself the chance to limit your risk and try to make the best return on your investment.
Marijuana Stocks To Watch In 2021
The Valens Company Inc.
The Valens Company Inc. since early March has been climbing in the market. Actually VLNCF stock has been one of the few cannabis stocks to watch that has seen higher market levels during this past downtrend. From March 8th to the start of April jumped up 72 percent. This increase in trading was a big indicator that VLNCF has strong growth potential.
Especially during a time when the sector was dropping as a whole. After April 1st VLNCF stock slightly dipped but soon began to pull back up. Essentially the entire month of April the company went on a solid run for the month. For the whole month of April, VLNCF stock went up by 26 percent continuing to show solid growth potential. At the start of May, the company furthered its climb until the 10th of the month. Right after this time, VLNCF stock began to feel the impact of the sector-wide downtrend.
Shortly after the 13th of May VLCNF stock started to pull back up in the market. From the 13th to the 25th of May the company saw a 22 percent increase before dipping back down. At the start of June VLNCF stock started to see better momentum that led to a rise in trading. However, as of late, the company is down in trading but still holds a solid market position. As July is almost here investors will be keeping a focus on this marijuana stock to watch.
TPCO Holding Corp.
TPCO Holding Corp. is the infamous cannabis company known for being owned by Jay Z. The company is one of California’s leading vertically integrated cannabis companies. In the last month or so GRAMF stock has still shown a downward pattern on trading. Hopefully moving into the future the company can improve its current market position.
If and when GRAMF stock can build more momentum it may allow for…
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