Marijuana stocks are a crazy sector. Traders either love ‘em or hate ‘em…
Personally, I don’t have favorite sectors or stocks. I’m all about the hottest opportunities.
And marijuana stocks can offer great opportunities — with the right catalyst. Even though they’re quiet right now, any news about legalization, tweets, or legislation changes can move these stocks FAST.
This list is to help you prepare for when — or if — that happens. So make your trading plans now and be ready to strike when the time’s right.
Here’s what I’m watching and why…
Should You Trade Marijuana Stocks?
First, you should NEVER blindly trade someone else’s picks. Not even mine.
I want you to understand how to choose stocks to trade and create smart trading plans. That’s how you can really take advantage of hot sectors and trading opportunities.
You’ve gotta think about what makes stocks move, how they move, and what you can learn from these movements for future trades.
I’m watching marijuana stocks because they’re volatile. Many are former runners, and they can move on news and hype.
Any new development could be a potential catalyst for a spike.
But before you get too excited thinking you’ll find the Tesla of marijuana stocks … Do yourself a favor and go back and study history.
I’ve seen this kind of crazy action before … In 2018, marijuana stocks went nuts on news that Canada legalized recreational use of weed on a federal level. What happened almost immediately after legalization day came and went? All the weed stocks crashed.
Some even tanked to new all-time lows.
So learn to trade these stocks. Don’t invest in them long term. Be prepared to strike when a stock fits your pattern and strategy. Always stick to your trading plan and rules and NEVER believe the hype.
I’m SO SICK OF PROMOTERS LURING NEWBIES INTO THE ABSOLUTE WORST COMPANIES & PRETENDING LIKE THEY’RE THE NEXT $PYPL $AMZN $NFLX $TSLA when in fact it’s https://t.co/QTYT7tytOA all over again & allllll these pumps will drop 90-100% the next few months, ignore my warning if you want
— Timothy Sykes (@timothysykes) February 9, 2021
Now, let’s get to the top marijuana stocks I’m watching…
Top 10 Marijuana Stocks to Watch
Remember, this is a watchlist. There’s no guarantee any of these stocks will fit your trading pattern or style. And if you blindly buy them hoping for the best, you’re on your own. That’s not what this watchlist is for…
If that’s your plan, I suggest you save your money and paper trade until you figure out a strategy that works for you.
Use my stock picks to understand the thought process behind how I build a watchlist so you can work to build your own.
Here’s my list of marijuana stocks to watch in March 2021…
Marijuana Stocks to Watch #1: GW Pharmaceuticals plc (NASDAQ: GWPH)
GWPH reported earnings on February 16. Last month the company announced it’s being acquired by Jazz Pharmaceuticals plc (NASDAQ: JAZZ). The transaction is set to close in the second quarter of this year.
Marijuana Stocks to Watch #2: Greenrose Acquisition Corp. (NASDAQ: GNRS)
GNRS isn’t technically a marijuana stock — yet. It’s a special acquisition company (SPAC) that’s looking to merge with a business in the cannabis sector.
SPACs have been hot this year. Watch for news of an acquisition or merger.
Marijuana Stocks to Watch #3: Cronos Group Inc. (NASDAQ: CRON)
CRON is a manufacturer and distributor of hemp supplements and cosmetics.
The company recently reported fourth-quarter earnings.
Marijuana Stocks to Watch #4: HEXO Corp. (NYSE: HEXO)
HEXO is due to release fourth-quarter earnings in premarket on March 18.
Learn how to read earnings reports here.
Marijuana Stocks to Watch #5: Canopy Growth Corporation (NASDAQ: CGC)
CGC is one of the largest Canadian marijuana stocks. On March 2, the company announced the release of its CBD-infused sparkling water in the U.S. The product has been available in Canada since last year.
Marijuana Stocks to Watch #6: Aphria Inc. (NASDAQ: APHA)
APHA is another Canadian marijuana stock. It’s due to complete its merger with Tilray, Inc. sometime in the second quarter this year.
Marijuana Stocks to Watch #7: Akerna Corp. (NASDAQ: KERN)
KERN is a tech company that operates a software platform serving the cannabis industry. It also operates a tracking system designed for government agencies. Its tech recently found that the consumer demographic for cannabis is shifting toward women.
Marijuana Stocks to Watch #8: Golden Leaf Holdings Ltd. (OTCQB: GLDFF)
Golden Leaf is a low-priced OTC marijuana stock. On February 26, the company announced it entered a non-binding letter of intent to purchase a chain of retail stores.
Golden Leaf executive chairman John Varghese said, “We will announce further details about this transaction upon the signing of a definitive purchase agreement.”
Marijuana Stocks to Watch #9: The Green Organic Dutchman Holdings Ltd. (OTCQX: TGODF)
TGODF is due to announce fourth-quarter earnings after-hours on March 9.
Never try to predict earnings. Wait for the market to react before planning a potential trade.
Marijuana Stocks to Watch #10: Medical Marijuana, Inc. (OTCPK: MJNA)
On March 3, MJNA announced that its subsidiary’s Japanese division had record sales in February.
See the Stocks I’m Watching
Want to know which stocks I’m watching every week? Subscribe to my weekly watchlist and I’ll send the stocks I’m watching right to your inbox.
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Also, check out these blog posts:
Conclusion: Should You Trade Marijuana Stocks?
When it comes to trading penny stocks, volatility can be your friend. Marijuana stocks have plenty of volatility and hype right now, so they’re creating a ton of opportunities.
But that doesn’t mean you should trade just any stock in the sector. You’ve got to be diligent about your research and studying. Only choose the setups and patterns that work for you.
If you want to make the most of weed stock opportunities, you’ve got to invest in your education account first.
I share my 20+ years of experience trading penny stocks with new traders in my Trading Challenge. I want anyone who’s dedicated to take advantage of what I’ve learned — both good and bad.
If you’re accepted (you have to apply and I only accept dedicated traders), you’ll get access to tons of video lessons, live trading, and Q&A webinars. Plus, you can get trading commentary from me and the top traders and moderators in my Challenge chat room.
I purposefully trade with a small account so I can be on the same level as new traders. I also show every single trade publicly so I can use every trade as a lesson.
But don’t apply if you’re looking to get rich quick. That’s not what I teach. Trading isn’t easy. You have to study, work hard, and put in the time and dedication.
Ready to get started? Apply today.
What do you think about these marijuana stocks to watch? Are any of these tickers on your watchlist? Let me know in the comments, I love to hear from you!
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