Investing in Top Cannabis Penny Stocks In 2021
Starting this week in July most of the cannabis sector continues to consolidate at current market values. So, could marijuana stocks to buy be setting up for a move higher in the market? Since the start of June, there has been a slight change in momentum for top marijuana stocks. Last month the cannabis sector saw modest gains in trading that have continued into the first half of trading in July.
One area of the cannabis sector that could produce gains for traders this summer is marijuana penny stocks. For those not familiar with penny stocks these are any stocks that are trading under the $5 stock price. Although this area of the market is known to be extremely volatile many investors have locked in significant returns using short-term trading methods.
In the first quarter of 2021 top marijuana penny stocks rallied until almost mid-February. Now after several months of declines in the market cannabis penny stocks could be primed for another market rebound. Essentially, one catalyst that could bring top-pot penny stocks some upward momentum is cannabis reform on the federal level. At the present time, there are many bills lawmakers have introduced in Congress that could affect US cannabis policy.
Events That Could Affect Top Marijuana Penny Stocks In 2021
For example, The SAFE Banking Act is a bill that specifically allows banks to do business with cannabis companies like any other corporation. As it stands most cannabis companies are forced to use a cash-based system to do business at the current time. This would also allow cannabis companies to receive financing from the banks another prospect that could help the cannabis industry grow.
As the push for federal cannabis reform continues it seems like only a matter of time before we see a new federal