Hemp stocks have started to get popular mainly in the past few years, with the growing demands and positive signs related to the legalization of Hemp and Medical Marijuana. Nowadays, there are some top-performing trading options for momentum, growth, and high value.
Different catalysts stimulate the popularity of hemp stocks, one of them is the growth of the CBD industry mainly around the US and Canada since Donald Trump announced the Farm Bill in 2018.
Let’s explore the Top 5 Hemp Stocks to Watch in 2021.
One of the most amazing things about the stock market is that it is overrun by speculations. When it comes to penny stocks, trading those that have a high volume is a plus point because it enables you to exit from a position easily. Another thing investors should take into consideration is looking at the trading pattern. However, it takes time to learn and master these trading formations.
From Marijuana Stocks, also known as weed or cannabis stocks, to hemp-grower and hemp CBD products stocks, there are several options to invest in. Apart from that, there are hemp penny stocks that trade under $5. Let’s look at some top-performing hemp stocks to watch these days.
Top 5 Hemp stocks to Watch in 2021
1. GreenGro Technologies (OTCPK: GRNH)
The last few years weren’t good for the company. Its stock fell from the all-time highs and entered the world of penny stocks. However, if we see the stock’s performance since 2014, it is an option with tremendous potential.
In 2014, it skyrocketed from $0.045 to $1.20 in just five days. Although GreenGro Technologies didn’t experience that again, it rose steadily. Since the hemp market is a cool sector, GRNH is a good stock to invest in.
2. Charlotte’s Web Holdings (OTCQX: CWBHF)
The US-based company makes and sells CBD oils, gummies, cream, and various other products. It is another stock that has seen tough days in the last 14 months. However, the legalization news brought it back, and the company gained 50%.
Traders and experienced investors believe Charlotte’s Web Holdings is capable of surviving bad times and holds the potential to gain in the next few months of 2021.
3. Canopy Growth Corp (NYSE: CGC)
The Canadian Cannabis company has already entered and made its place in the American stock market. Its partnerships with Martha Stewart and many others make it grab headlines regularly.
However, what makes it an interesting stock is Constellation Brands’ stake worth $4 billion. The renowned beer importer’s interest in Canopy hints at a bright future for the company, which means it is one of the hemp stocks to watch in 2021.
4. GW Pharmaceuticals (NASDAQ: GWPH)
If there’s one consistent player in the hemp stock industry, it’s GW Pharmaceuticals. The company has made the first FDA-approved CBD drug. In addition, the drug is the first of its kind to be used as prescribed medicine worldwide.
Currently, GW Pharmaceuticals has been working on its second Cannabis-derived product, which will help treat people with autism. Considering the big news, investing in the company’s stock in 2021 seems to be a safe move.
5. Aphria Inc (NASDAQ: APHA)
The Ontario-headquartered Cannabis firm can sell its marijuana-based CBD throughout Canada and in most of the US states. Its performance in the last few months is what makes it an interesting stock to watch out for this year.
Right now, Aphria is a volatile stock. It is expected to grow in the near future.
Conclusion: Should You Buy Hemp Stocks in 2021?
You may come across many traders and investors who will tell you the best stocks to target in 2021. However, you should do your research and notice patterns. Buy only when you are 100% sure.