Let’s think outside the box to watch marijuana stocks in April.
You’ve heard of the usual growers and distributors in the marijuana game … but where do these companies operate? Who will provide them with the growing supplies they need? And who infuses medicinal marijuana drugs and treatments?
There’s a lot more to the marijuana stock sector than meets the eye …
This month, I’m watching some aid providers and biotech companies operating in the background of the marijuana stock sector.
Because all the legalization news and the increased demand for marijuana can affect these companies too. And looking for ways that others cannot give you an advantage when news is posted.
Here’s what I’m looking at and why …
Should You Trade Marijuana Stocks?
First, you should NEVER act blindly on someone else’s picks. Not even mine.
I want you to understand how to select stocks to trade and create smart trading plans. This is how you can take advantage of really hot sectors and trading opportunities.
You need to think about what moves stocks, how they move, and what you can learn from those moves for future trades.
I watch marijuana stocks because they are volatile. Many are former runners and they can catch up on news and hype.
Any new development could be a potential catalyst for a peak.
But before you get too excited, you’ll find the Tesla of marijuana stocks … do yourself a favor and go back and study history.
I’ve seen this kind of insane action before … In 2018, marijuana stocks went crazy over news that Canada had legalized recreational weed use at the federal level. What happened almost immediately after Legalization Day? All weed stocks fell.
Some have even hit new lows.
So learn to trade these stocks. Don’t invest in them long term. If a stock fits your pattern and strategy, be ready to strike. Always stick to your trading plan and rules and NEVER believe the hype.
Now, let’s get to the top marijuana stocks I’m watching right now …
Top 10 Marijuana Stocks To See
Remember this is a Observation list. There is no guarantee that any of these stocks will suit your trading pattern or style. And if you buy them blindly and hope for the best, you are alone. This is not what this watchlist is for …
If that’s your plan, I suggest that you save your money and paper trades until you find a strategy that works for you.
Use my stock picking to understand the thought process behind how I create a watchlist so you can work on making your own.
Here is my list of marijuana stocks to see in April 2021 …
Marijuana Stocks To See # 1: Hero Technologies Inc. (OTCPK: HENC)
HENC is a sketchy penny stick who was an oil and gas company before entering the cannabis business.
The company description on OTCmarkets.com now reads: “The company has a majority stake in BlackBox Systems and Technologies LLC. BlackBox is an aeroponic cannabis growing system that provides optimal conditions to improve photosynthesis and the cultivation of large flowering plants, thereby increasing efficiency. “
The company publishes press releases about the planned expansions and acquisitions of real estate. A new website and growing plans were also announced.
I will be looking for a break above the USD 0.175 resistance.
Marijuana Stocks To See # 2: Curaleaf Holdings, Inc. (OTCQX: CURLF)
In March, CURLF announced entry into the European cannabis market through an acquisition. On April 5th, a new retail location with new branding was announced. The company now has 103 stores nationwide.
The stock holds near its all-time high. A breakout to new highs could be a catalyst for bigger move.
Marijuana Stocks To See # 3: OrganiGram Holdings Inc. (NASDAQ: OGI)
OrganiGram Holdings Inc. is a Canadian marijuana company. On March 11, it announced that British American Tobacco (NYSE: BTI) had acquired a 20% stake in the company.
OGI is expected to post a profit for the second quarter on April 13th. I will watch out for a reaction to the win.
Marijuana Stocks To Watch For # 4: The Scotts Miracle-Gro Company (NYSE: SMG)
Scotts Miracle-Gro is a so-called additional provider. It is not directly related to the cultivation or distribution of marijuana. It provides fertilizers and soil that growers need.
If the demand for marijuana increases, so could the demand for fertilizers and soil. The stock is near its all-time high. Watch for a breakout above $ 254.34.
Marijuana Stocks To See # 5: Green Thumb Industries Inc. (OTCQX: GTBIF)
GTBIF has been paying attention lately for the wrong reasons … An article was published late last month claiming the company was involved in a federal investigation. The stock fell after the news.
The company immediately denied the allegations and the stock made up some of its losses. It is still trading near its all-time highs of $ 39.11. But this one could see more selling pressure without news. Look out for panic dip purchases.
Marijuana Stocks To See # 6: Khiron Life Sciences Corp. (OTCQX: KHRNF)
KHRNF grows and distributes medical marijuana. On March 11, it announced that it would be the first Colombian cannabis company to export live plants to Europe.
Tejinder Virk, President of Khiron Europe, said, “By exporting our Colombian cannabis strains, we can bring our Latin American extracts to European patients, resulting in greater choice for doctors and safer and more effective patient outcomes.”
Read the full press release here.
On March 22nd, the company announced that its medical marijuana was being shipped to Germany for distribution through its partner company.
The stock appears to have found support around 43 cents. I’ll watch out for a jump up, ideally with volume and a catalyst.
Marijuana Stocks To See # 7: Innovative Industrial Properties, Inc. (NYSE: IIPR)
IIPR is another ancillary provider. It’s in the real estate sector. It focuses on the acquisition, leasing and management of real estate for marijuana operations.
On April 5, IIPR announced that it had expanded its partnership with a company that leases a grower-processor facility.
Read the full press release here.
Marijuana growers, distributors, and retail stores need real estate to do business. Legalization news and the expansion of the industry could increase demand for marijuana-friendly properties.
I’ll be careful to get the stock back to its highs, but it probably needs a catalyst as it’s not very volatile.
Marijuana Stocks To See # 8: Trulieve Cannabis Corp. (OTCQX: TCNNF)
Trulieve Cannabis Corp. produces marijuana flowers, groceries, concentrates, vaporizer cartridges, and topical products for distribution in several states.
The company announced an acquisition in early March and announced the opening of a new Florida pharmacy on April 6.
The stock recently broke out of a channel. It only pays attention to panic dip purchases.
Marijuana Stocks To See # 9: Silver Spike Acquisition Corp. (NASDAQ: SSPK)
Silver Spike Acquisition Corp. is a special purpose vehicle (SPAC). WM Holding Company, LLC merged with a SPAC and went public in December 2020.
The WM Holding Company operates Weedmaps. This is a website and app where consumers can find marijuana dispensaries, private labels, and products available. Customers can also order online for in-store pickup.
This is another add-on provider that could be relaying legalization messages to more states or at the federal level. It’s one to look for a catalyst and volume.
Marijuana Stocks To See # 10: IntelGenx Technologies Corp. (OTCQB: IGXT)
IGXT is a biotech company. It develops oral film strips for treating diseases such as migraines and nausea.
The company has entered into a development and supply agreement with Tilray, Inc. (NASDAQ: TLRY) to develop its oral CBD film strips. It was changed last year to allow IGXT to work with other partners.
On March 31, the company announced that it had received its first shipment of CBD film strips to Heritage Cannabis Holdings Corp. (CSE: CANN) has completed.
I am waiting for a breakout above the 50 cent resistance.
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Bottom line: should you trade marijuana stocks?
When it comes to trading penny stocks, volatility can be your friend. Marijuana stocks have a lot of volatility and hype right now, so it creates a lot of opportunity.
But that doesn’t mean you should only be trading stocks in this sector. You have to research and study diligently. Select only the setups and patterns that are right for you.
If you want to get the most out of weed populations, you need to invest in your educational account first.
I am sharing my 20+ years of trading penny stocks with new traders in my Trading Challenge. I want everyone who gets involved to use what I’ve learned – both good and bad.
If accepted (you have to apply and I only accept dedicated traders) you will gain access to tons of video courses, live trading and Q&A webinars. Also, you can get trading comments from me and the top traders and moderators in my Challenge chat room.
I trade with a small account on purpose so that I can be on par with new traders. I also show each individual trade publicly so I can use each trade as a lesson.
But don’t apply if you want to get rich quick. This is not what I teach. Trading is not easy. You need to learn, work hard, and invest time and dedication.
Ready to start? Apply today.
What do you think of these marijuana stocks that you should be watching? Is one of these tickers on your watchlist? Let me know in the comments, I look forward to hearing from you!