Companies involved in the research, production, and commercialization of medicinal and recreational marijuana make up the cannabis industry. Cannabis is becoming more widely accepted, and it is now legal in an increasing number of countries and jurisdictions.
Many of the largest cannabis firms have continued to produce significant net profits. Let’s take a look at some of the top stocks in this industry, as well as how you can start investing in them.
5 Best Performing Cannabis Stocks This Week
To get the most out of your investment, you need to pick the ideal cannabis stocks on the market that will fit well in your portfolio. Let’s review the 5 best performing cannabis stocks this week to keep an eye on this week.
1. Potnetwork Holdings Inc – Up 100.00%
Potnetwork Holdings Inc. (OTC: POTN). This corporation, through its subsidiaries, develops and sells hemp-derived CBD oil-containing goods. The firm was formed in 1996 and is based in Fort Lauderdale, California.
This stock last closed at a price of $0.0002 and is trading at a volume of 691,400.
2. Arena Pharmaceuticals – Up 74.81%
Arena Pharmaceuticals. (NASDAQ: ARNA). This is a biopharmaceutical business that specializes in the research, development, and marketing of new G protein-coupled receptor (GPCR) medications. It sells medications to treat illnesses of the cardiovascular, neurological system, inflammatory, and metabolic systems.
This stock last closed at a price of $92.21 and is trading at a volume of 1.804M.
3. Greengro Tech – Up 33.85%
Greengro Tech (OTC: GRNH). This is a well-known provider of environmentally friendly green technologies for the hemp and cannabis sectors. It operates a retail location in Anaheim, California that sells greenhouse systems.
This stock last closed at a price of $0.0087 and is trading at an average volume of 3.711M.
4. Scotts Miracle-Gro Company – Up 5.44%
Scotts Miracle-Gro Company (NYSE: SMG). This firm specializes in the development, marketing, and distribution of hydroponic farming systems and accessories. Orlando McLean Scott started the firm in 1868, and it is based in Marysville, Ohio.
This stock last closed at a price of $155.85 and is trading at an average volume of 387,400.
5. Altria Group – Up 4.97%
Altria Group (NYSE: MO). This is a holding corporation that operates in the United States, manufacturing and selling cigarettes. The company was established in 1919 and is based in Richmond, Virginia.
This stock last closed at a price of $47.33 and is trading at a volume of 21,875.
How To Buy Cannabis Stocks
Investing in cannabis stocks is a pretty straightforward process. You can acquire some of the best-performing cannabis stocks by following a few simple steps.
1. Research Companies
Stock analysis aids investors in identifying the greatest investing possibilities. Evaluating a company’s financial stability is the most important stage in stock analysis. Before investing in a stock, you should do some research on it.
You may expose yourself to issues that might have been avoided if your investments were guided by a thorough research strategy.
2. Select a Brokerage
Prior to getting started, you must select a brokerage in order to begin trading. M1 Finance is a fantastic tool that provides clients with free customized, automatic investment accounts. Here are some of the top options to begin investing in cannabis stocks:
Features Brokers:
- E*Trade — Free Stock Trading – Award winning platform and mobile app!
- TradeStation — Also Free stock trading – intuitive stock trading tools. Cash bonus for new accounts (conditions apply).
- Charles Schwab: Charles Schwab offers outstanding stock research, a wide range of trading instruments, and financial planning services. Stock and ETF trading are free, while options trades are only $0.65 per contract at Schwab.
- M1 Finance: This is a brokerage that offers both self-directed and automated trading and investing options. M1 Finance has a minimal minimum deposit requirement and offers free automatic investing for regular accounts. You have access to over 80 professional portfolios. M1 Finance now allows you to place individual stock or ETF orders as well as fractional shares. Sign up for M1 Finance here
- Webull: Webull allows you to trade stocks and ETFs for free. This brokerage also offers cryptocurrency and $0 option trading. Webull has no minimum account balance requirement; however, users who want to short stocks must create a margin account, which has a $2,000 minimum deposit.
- Merrill Edge: Merrill Edge offers superior analysis as well as unlimited stock and ETF trading. This brokerage is also connected with Bank of America and has robust third-party research.
3. Open Your Trading Account
So that you can start investing in cannabis stocks, you must first open a trading account. Evaluate each brokerage to see whether you can open an account that includes everything you’ll need to get started investing.
4. Make a Deposit & Purchase Cannabis Stocks
Before you can start buying cannabis stocks, you’ll need to make a cash deposit to your account after you’ve established a valid payment method. You can start investing after your account has been completely authorized.
5. Monitor Your Performance
To effectively manage your cannabis stock holdings, focus on the firm you’re investing in, not just the stock value. Monitoring how your stocks are performing might help you make better investment decisions and stay on track to meet your investment goals.
Should You Invest in Cannabis Stocks?
With the increasing acceptability of cannabis among consumers and political officials, this stock is a fantastic driver of profits for your portfolio. There are a lot of ways to incorporate cannabis-related investments in your portfolio, depending on your specific preferences and asset allocation.
If you would like to start investing in stocks then you should consider contacting a financial advisor.
Frequently Asked Questions
Cannabis stocks are made up of businesses that specialize in marijuana research, manufacturing, and distribution.
In 2021 many investors are looking to profit from the marijuana industry’s projected double-digit growth over the next few years. The cannabis industry has excellent future market prospects and they could definitely prove to be an excellent long-term investment.
While several of the top marijuana stocks have delivered impressive gains, just a small percentage of them pay dividends. Unfortunately, many startup cannabis businesses are not generating large amounts of income yet and are in the growth phase still.
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