Could Marijuana Penny Stocks Add Fireworks To Your Portfolio?
Are you looking for the best marijuana stocks to buy after July 4th? Starting in June top marijuana stocks seemed to be moving higher in the market. With cannabis reform on the federal level looking promising this summer, more investors are looking towards cannabis stocks right now. One area of the market that has seen the most upside so far this year is marijuana penny stocks. For those not familiar with penny stocks these are any stocks trading under the $5 stock price.
In 2021 marijuana penny stocks rallied in the first quarter giving investors the opportunity to lock in significant gains in January and February. Since that time, they have seen a sharp decline in value from the highs established in February. Until June the cannabis sector continued to see market declines even though many of the leading cannabis companies have been delivering strong earnings in Q1 2021.
Top Marijuana Penny Stocks In July 2021
So far this year it seems like cannabis reform has been the biggest driver for marijuana stocks to buy. Whenever you are dealing with penny stocks it’s important to keep in mind the market volatility they are known for. Because of this volatility, more investors prefer to trade marijuana penny stocks on a short-term basis.
Currently, there are several top marijuana penny stocks that could produce gains for investors from current trading prices. Some of these cannabis stocks have become Meme stocks in 2021 and are favored by Reddit and Robinhood investors. As it stands July could develop into a good month for marijuana stocks and the cannabis sector. With this in mind, we can look at the top marijuana penny stocks for your list