Are These Cannabis Stocks On Your March Watchlist?

On February 23rd the entire stock market was down. This presented a good chance to find top marijuana stocks to buy at lower prices. Moments like this can be a good opportunity for investors as prices start to dip. Now just because you buy the dip does not always mean that a particular cannabis stock will immediately recover. Sometimes it may take a bit to see some momentum pick back up.

Once a stock starts to bounce you will be happy you bought low and held till things recover. Investors at times have trouble identifying which marijuana stocks are better to buy off the dips. This can be for many reasons but the simple answer is they need to do more due diligence about the marijuana stock they want to buy. Some analysts feel that part of the reason the market started to drop on February 23rd is due to bonds yielding and other aspects of the financial sector.

Even though the cannabis stocks are apart of a separate sector doesn’t mean it’s not impacted by other areas of the stock market or news. Yet like mentioned above this allows investors to buy shares of marijuana stocks at lower value before climbing back up. Essentially when this happens you want to look at the companies trading history to see how a marijuana stock has historically recovered or dipped even more in a similar situation.

This will give you an idea of whether buying the dip can present a good future outcome. Investors feel with cannabis stocks specifically it’s a buy the dip type of strategy that helps investors remain profitable. So until federal cannabis reform comes into play marijuana stocks are looking good for short and long-term investments from the dip.

Pot Stocks To Watch In 2021

1. MariMed Inc. (OTC:MRMD)
2. The Valens Company Inc. (OTC:VLNCF)

MariMed Inc.

MariMed Inc. is a marijuana stock that from its business has held great value as a cannabis company. Recently the company announced that its licensed cannabis subsidiary, ARL Healthcare, was selected as an honoree in the 2021 Best Cannabis Companies to Work For – Cultivation awards.

“We are extremely proud to receive this award and recognition by Cannabis Business Magazine,” said Timothy Shaw, Chief Operating Officer of MariMed. “This is a great honor and a testament to the strong company culture we have built. We applaud our staff for this award recognition. We are most grateful for their efforts and dedication during this challenging time of the Covid pandemic. We look forward to maintaining a positive working environment for our employees, customers, and partners in 2021 and beyond.” 

Even though the company is recognized as one of the better companies to work for in the industry its trading has been quite volatile. Like many other cannabis stocks since 2019, the company has dropped in trading. Yet even though MRMD stock has dropped in price since it first hit the market gains have been made along the way. At the end of May of 2020 MRMD stock saw a spike in trading before dropping once more.

MRMD Stock Performance And 2021 Outlook

This pattern of price fluctuation seemed to be the trading that the company faced most of 2020. It wasn’t until the end of November when MRMD stock would start to pick up some much-needed momentum. From November 23rd to the 30th MRMD stock saw a 188 percent increase in trading. This gained the attention of cannabis investors as some saw this as a potential play to add to their portfolio. However, as trading continued MRMD stock dipped again and had subtle spikes in trading during December. The start of 2021 brought with it a nice boost in trading and so far for February MRMD stock is up 12 percent even with a slight dip from the previous trading.

The Valens Company Inc.

The Valens Company Inc. like other cannabis stocks was facing a downtrend during the trading on February 23rd. Yet since March lows have been facing a bit of volatility. Now just because a stock has been moving up and down and in the market, it isn’t always a bad thing. For one if you look back at the last year of trading for VLNCF stock you can see that even when the company dips it usually recovers at some point.

With this investors can feel a bit more safe buying this cannabis stock. Because when that happens there is a greater probability that the company will bounce based on past performance. Since the start of the new year VLNCF stock has picked up some nice momentum in January. In the first 2 weeks of trading in 2021 VLNCF stocks reached gains of 62 percent.

This upward push was a solid rally and made good returns for investors who held their position till then. Although down from January highs the start of February gave VLNCF a nice push to start the month. Currently VLNCF stock is down and some investors feel this could be a good buying opportunity before a potential bounce starts to happen