Top Cannabis Stocks To Watch In This Downtrend
In October the top marijuana stocks to buy are trading near some of the lowest market values seen in 2021. From highs in February, cannabis stocks have declined for the past eight months. Since September the cannabis sector has also seen enhanced market volatility. One way investors take advantage of this increased volatility is by trading top marijuana penny stocks. For those not familiar with penny stocks these are essentially any stock trading under the $5 price point.
In general, the top cannabis penny stocks can move rapidly sometimes gaining significant upside in a short period. Because of this many investors prefer trading these penny stocks on a short-term basis. On Columbus Day the top marijuana penny stocks continue to trade at lower levels. One major event that would boost top cannabis stocks in 2021 is federal marijuana legalization and reform. This year many investors believed federal marijuana legalization would have happened earlier in the year.
But with Congress still working out the details of cannabis legalization the cannabis sector has been impacted heavily. In the past month, we have seen an increase in activity from Capitol Hill. In the House, lawmakers passed the SAFE Banking Act and the MORE Act which would end prohibition. If things continue to show progress in the Senate, we could see some form of cannabis reform heading into 2022.
How To Invest In Marijuana Stocks In Todays Market
For investors, marijuana penny stock trades are known to be high-risk high reward positions. Using short-term trading methods like day trading and swing trading investors can produce returns on a short-term basis. Before investing in any company, it’s important to do your own due diligence and research. Generally speaking, watching how a stock performs in the market and researching a company’s earnings may