Cannabis Stocks In 2021
As marijuana stocks close the second week in May most leading cannabis stocks to invest in are showing some upside in the market. After the first-quarter rally in February top pot stocks have lost substantial value in the market. On the other hand, most cannabis companies continue delivering strong revenue gains and record earnings that should not be overlooked by investors. In the US the cannabis industry continues to show bullish potential in 2021.
In April cannabis sales in Michigan increased by 149% to $153.8 million. Additionally, the top companies in the US have given some rather significant increases in revenue guidance for 2021. For the most part, this is currently being delivered by some of the top marijuana stocks to buy in their first-quarter results. It goes without saying the cannabis market has substantial growth potential for the next five years. But at the moment the cannabis sector seems to need a kick start from the US federal government in the form of cannabis reform.
With the SAFE Banking Act on the Senate floor through a bipartisan committee. Chuck Schumer continues to reiterate that he is currently working on introducing a bill shortly. The senator wants to pass a cannabis legalization package before the banking reform policy. Either way, cannabis investors will have to be patient and wait for this market catalyst at the moment.
Finding Value In Penny Stocks
Due to the fact, top cannabis stocks have not been showing increases from their first-quarter reporting it may be time to look in other areas of the marijuana sector for larger short-term returns. One part of the cannabis sector that’s shown significant upside this year is top marijuana penny stocks. When we speak about penny stocks technically, we are talking about any securities trading under the $5 per share benchmark.