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August 18, 2021 5 min read
This story originally appeared on MarijuanaStocks
The Best Cannabis Penny Stocks And Market Declines In August
Today in trading top marijuana stocks to invest in are showing some upward momentum. After a few days of declines, the cannabis sector spent the day in the green before giving back some gains. As investors see cannabis stocks return to prices seen before the first quarter rally we could see a rebound. As the cannabis industry grows across the US and Canada leading cannabis companies are delivering strong earnings. One area of cannabis stocks that investors prefer to trade using short-term methods is marijuana penny stocks.
Generally, penny stocks are any stocks trading under the $5 mark. Considered a higher risk sector of the market many investors prefer day trading and swing trading cannabis penny stocks. Some possess long-term value if you can stomach the price fluctuation during the long hold. Currently, the prolonging by the federal government of cannabis legalization seems to have worn down the sector.
In August leading cannabis companies are reporting very strong financials without any gains in the market. Instead, most have lost value since they reported earnings this season. With that being the market trend finding a top marijuana penny stock at lower trading levels could deliver short-term upside. Before investing it’s important to conduct thorough research into a cannabis company. Studying the stocks market trends and looking into its financials can help you find the best investments for your portfolio.
Waiting On Federal Cannabis Legalization In 2021
For the past six months, marijuana stocks have been declining in the market in 2021. In the