Every few minutes, someone searches the question How to trade Marijuana stocks on Google. Cannabis stocks are a hot topic these days and people are getting more and more interested to learn about them.
Are you new to the marijuana industry? If yes, then you might be curious too to learn how to trade marijuana stocks. Let us elaborate then.
In today’s post, we are going to discuss this topic in detail. As a bonus, we’ll also share a few hot marijuana stocks that you can watch for in 2021.
Let’s get started:
Trading Marijuana Stocks – How To Do It Right
Don’t get stressed. Trading marijuana stocks or cannabis stocks is the same as other stocks. You need to perform your own detailed research to understand what and why you are investing in marijuana stock.
Start with creating a systematic trading plan trailered according to your strategies and investment goals – and stick to that.
The marijuana industry is growing rapidly as state legislatures, and more voters support the approval of adult recreational or medicinal use of cannabis, pushing the marijuana stock prices higher and higher.
So if you plan to start investing in these stocks, it’s important first to learn everything about the industry – how it works – and create a streamlined and strong decision-making process.
This process is the foundation that you need to build as a trader. Also, make sure that your fundamentals, chart patterns, and indicators match with your decision-making process and align with your trading plan.
Moreover, other than keeping a constant eye on the market, you should also watch for news, trends, and catalysts – they have a great impact on the price behavior of stocks.
Now comes the most awaited part you might be excited for – the bonus. Let’s discover the top 3 hottest marijuana stocks that you can invest in as a beginner. These stocks have performed well in the past, so you should definitely consider them adding to your watchlist. Here’s how they look:
Top 5 Marijuana Stocks to Give Your Trading Journey in The Cannabis Industry a Great Start –
#1 Trulieve Cannabis Corp. (OTCQX: TCNNF)
Trulieve Cannabis Corp. is a marijuana grower and retailer company that focuses on the medical cannabis market of Florida. It accounts for approximately half the total sales of cannabis in the state. Since 2017, the company’s been profitable.
And for your knowledge, it’s kind of rare for a marijuana company to offer continued profits to their investors.
Moreover, in May 2021, the company announced to acquire Harvest Health & Recreation for around $2.1 billion.
This will give the company access to the markets outside Florida – this way, they will cover around 126 dispensaries in 11 states – selling marijuana for both recreational and medicinal usage.
So it’s a great opportunity for investors to gain massive profits in the near future. Thus, you should definitely add this stock to your portfolio and trade at the right time.
#2 GrowGeneration Corp. (NASDAQ: GRWG)
GrowGeneration Corp deals in agricultural products like hydroponic equipment, plant nutrition, light technology, and farming soils. Moreover, they are also one of the largest hydroponic suppliers in the United States.
The company operates and owns around 55 retail and distribution centers. In addition, they also launched an e-commerce store, giving them exposure to a wider market.
Plus, on July 22, the company also acquired Mendocino Greenhouse and Garden Supply, expanding their footprint in California.
This news made their stock price go high. The company has many plans to expand in the future so that investors might earn profits in the upcoming months.
We promised you to share five marijuana shares, but they are only two. Where are the rest? Here’s are they:
#3 Scotts Miracle-Gro Co. (NYSE: SMG)
#4 Jazz Pharmaceuticals PLC (NASDAQ: JAZZ)
#5 Trulieve Cannabis Corp. (OTCQX: TCNNF)
We hope now you have a clear idea of how to trade marijuana stocks and which stocks you can start with.
If you enjoy reading this post, make sure to share it with your friends who want to start trading in marijuana stocks but have no clue about where to start.