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. Grow Capital Inc. – Up 14.15%
Grow Capital Inc. (OTC: GRWC). This company purchases, develops, and manages real estate for cannabis cultivation purposes. They also own, rent, sell, and manage multi-tenant buildings around the country.
This stock last closed at a price of $0.7650 and is trading at a volume of 1,310.
2. Digipath – Up 14.01%
Digipath (OTC: DIGP). This business specializes in cannabis testing, teaching, marketing, and press coverage. Todd Denkin started the firm on October 5, 2010 and it is based in Las Vegas, Nevada.
This stock last closed at a price of $0.0350 and is trading at an average volume of 22,470.
3. Tilray Inc. – Up 11.26%
Tilray Inc. (NASDAQ: TLRY). This is a cannabis and packaged goods company based in the United States. The company was established on January 24, 2018 and is based in New York, New York.
This stock last closed at a price of $11.56 and is trading at a volume of 30,119,117.
4. Cronos Group Inc. – Up 7.59%
Cronos Group Inc. (NASDAQ: CRON). This business is involved in the cultivation and distribution of marijuana. Lorne Michael Gertner and Paul Rosen started the firm on August 21, 2012, and it is based in Toronto, Canada.
This stock last closed at a price of $5.95 and is trading at a volume of 3,410,788.
5. Clever Leaves Holdings Inc. – Up 6.05%
Clever Leaves Holdings Inc. (NASDAQ: CLVR). This business is a pharmaceutical firm that manufactures pharmaceutical-grade medicinal cannabis and hemp extracts. Clever Leaves Holdings also grows, extracts, produces, and sells pharmaceutical-grade cannabinoids.
This stock last closed at a price of $7.36 and is trading at a volume of 48,893.
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:
- 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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