FFLWF - These Marijuana Stocks Are Recovering As The Bulk Of The Sector Is Still Down
2 Marijuana Stocks To Watch That Have Started to See Better Trading
As marijuana stocks still face trouble in the market some feel it’s a good moment to invest in the future of the industry. With many of the top-performing marijuana stocks trading at lower prices no may be the time to buy before the next bounce. However if for those who are looking to do so may be a bit skeptical due to the uncertainty of when better trading will occur. In recent news, the House passed the SAFE Banking Act for the fourth time. As advocates of the cannabis industry waited for this moment it didn’t have too much of an effect on how some cannabis stocks performed.
Many people are still watching to see what further progress will happen in 2021. So far 4 more states are looking to pass some form of cannabis legislation. The more states that go legal will be adding to the already growing industry. What this will also do is add more pressure on Congress to work out a way to end cannabis prohibition. By legalizing cannabis on a federal level it will allow for more business to take place in the United States from out other regions around the world.
Some advocates feel that when the U.S. ends cannabis prohibition it will save other cannabis markets especially Canada. Yet with more sales coming in for Canada’s market once this downtrend turns around, we may see some better trading from that side of the market. With the big focus being the U.S. cannabis industry many are still waiting to see more growth from laws to industry growth. Yet right now with how the bulk of marijuana stocks have been performing it’s tough to say when things will change. The cannabis stocks below may be good investment options before things start to recover.
Marijuana Stocks To Watch In 2021
MariMed Inc.
MariMed Inc. is one of the few marijuana stocks that has recently been able to see better trading. With the current downtrend continuing for many marijuana stocks MRMD stock starting to recover may be a sign of more to come for the company. Part of this uptick trading may be partly due to MariMed having a record 2020 fourth-quarter earnings that were released back in March. As well as posting its 2021 guidance. At times when positive news comes out especially earnings, it can help to bring more momentum that can lead to better trading.
In the last few months, however, it’s been a volatile ride with marijuana stocks fluctuating in price at a rapid pace. Prior to mid-November much of the trading that occurred for MRMD stock was as much lower market level. It wasn’t until November 20th that MRMD stock started to see a rise in trading. Even with much of December being a volatile month overall the start of January came with a boost in momentum. In January MRMD stock saw a total gain of 32 percent even with a drop at the end of the month.
Final Thoughts On MRMD Stock And Market Performance
For February MRMD stock yet again was able to pick up in trading and saw a nice push in the first week and a half trading. The overall market increase for February came to be 46 percent even with another dip to close the month. Like many other cannabis stocks, this was the time many companies lost their market momentum and it was no different for MRMD stock. Much of March MRMD stock was still trading down in the market even with small recover points in the month. Currently in April MRMD stock has been trading down up until recently and investors are keeping watch to see if the company can sustain this bit of momentum.
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4Front Ventures Corp.
4Front Ventures Corp. has been fortunate enough to see better trading in a downtrend. In recent news, the company announced a huge accomplishment by reaching 250,000 Spark PerksTM members across the Fire & Flower retail network.
“A core metric in our business is lifetime customer value and the cost of customer acquisition. We believe Spark Perks customers have the highest lifetime customer value in the industry through their larger basket sizes, more frequent visits, and the diversity of products they consume,” said Trevor Fencott, Chief Executive Officer of Fire & Flower.
Over the last month or 2 of trading for FFLWF has had its moments of highs and lows. At the start of February, there was a big increase in trading that led to seeing solid price movement. In the first 10 days of trading in February FFLWF stock saw gains of 67 percent. Right after the 10th of February, many cannabis stocks dropped and so did FFLWF stock.
However right after slightly dipping it recovered to a higher market position. From the drop on the 11th to the 16th of February FFLWF stock started to rise again. This upward push produced gains of 23 percent. Now from this point, FFLWF stock was able to maintain this market level up until the close of the month.
Entering into March it was a bit more of a volatile trading pattern but ultimately FFLWF stock continued to drop. The first 9 days of April came with a small increase in trading. Yet shortly after FFLWF stock was not able to keep up its momentum. Currently FFLWF stock has started to rise once more but shareholders want to know if it will last.