Despite enormous challenges weed stocks ended up having an incredible year in 2020. Many of our favorite stocks delivered huge returns in the last 12 months. Looking forward I believe the stage is set for more gains in 2021 because of three powerful catalysts.
Today I am going to reveal the five major catalysts that I expect to drive cannabis stocks deep into a new all-time high in 2021. And then I am going to reveal my #1 cannabis stock for 2021 to play the trend.
Cannabis stocks jumped again this week after the House passed the MORE Act, essential federally legalizing cannabis. The bill still needs to clear the republican controlled senate – but it’s 2020 and crazier things have happened.
Aurora Cannabis (ACB) shares are down 93% in the last 12 months. Bargain hunters might think this is a great time to buy low. However, despite the big decline, I see more losses ahead for Aurora.
The cannabis industry is thriving during the quarantine. Not only did the industry earn an essential designation, allowing it to continue operating during the quarantine, cannabis sales are spiking to a new all-time high as consumers stock up and blaze away the stress of a global pandemic.
This should be a pivotal week for the broader stock market and the cannabis sector. Global stocks are coming off a tough week – battered by the impact of coronavirus. The S&P 500 had its worst week since the financial crisis, falling 12% in five days.
After struggling in the second half of 2020, cannabis stocks are off to a hot start in 2020. For example Canopy Growth Corp (WEED, CGC) is up 25% in 2020 and up 65% from the 52-week low in late November.
We saw a flurry of earnings reports from leading cannabis companies this week and unfortunately the results fell short of expectations. That drove shares and the entire sector lower – hitting a new 52-week low. Today I will share what happened and what to expect.
Canopy is down 60% from the 52-week high and shareholders are feeling the pain. However, I see four bullish signals on the chart that tells me shares are overdue for a big rebound.
I see a hot new cannabis stock IPO that weed stock investors need to know about. Israel is considered the cannabis research capital of the world. Israeli scientists began studying cannabis back in the 1960’s. In 1973 Israel become one of the first countries in the world to legalize medical cannabis. Israel reformed its medical cannabis industry in 2016 and today – the industry is seeing record demand.
