The Top Cannabis Stocks In June Of 2021
This week in the stock market and many leading marijuana stocks are giving back most of the upside seen earlier in the month. As a result of an announcement from the federal reserve the market is trading lower going into the weekend. In particular, these lower levels could be an opportunity to find the best marijuana stocks to invest in for next week. One high-risk area of the cannabis market that has already delivered significant gains in the first quarter of 2021 is marijuana penny stocks to buy.
Although extremely susceptible to market volatility these pot stocks have for the most part delivered substantial short-term gains so far this year. In 2021 a couple of these marijuana penny stocks gained worldwide notoriety becoming meme stocks and was being heavily traded by Reddit and Robinhood investment groups.
Undoubtedly this propelled top marijuana penny stocks like Sundial Growers Inc. (NASDAQ:SNDL) to much higher market value on massive volume. In February SNDL stock reached a high of $3.96 per share and is now trading at $0.9347 on June 18th. Recently the company announced better than expected earnings that could move the penny stock higher. But meme stocks are not the only cannabis penny stocks delivering gains for investors.
Top Marijuana Penny Stocks And 2021 Market Performance
Actually, many other marijuana penny stocks have made similar moves in their trading patterns this year. Now after consolidating at lower price points for 4 months there could be some upside for this part of the cannabis sector. For new investors, it’s important to always do your research before investing in a company.
Doing your due diligence on a company and watching how a stock performs in the market can help you establish the best positions for your investments. Especially with marijuana penny stocks market