Get started

Cannabis

Which cannabis stocks should I now that Biden is the president?Which cannabis stocks should I now that Biden is the president (part 1) : Going first with Cronos Group. Biden won (although Trump wouldn’t agree😊) and the sentiment is talking about green energy stocks, electric vehicle makers, telecommunication stocks, cannabis stocks, government bonds and more. But we cant invest in everything and we cant relay on market hype to make a sound investment. So first I wanted to break down cannabis stocks as they have rallied dramatically in the last 2 trading sessions. But before all that lets state a super important fact: Arizona, and South Dakota recently voted to legalize recreational marijuana! BOOM! I choose to start this series with the first stock of Cronos Group. Cronos Group Heavily funded by Altria group investment in 2018 with 1.8 billion, the company has been operating in the last two years with no factual growth or sales, I mean 10 million in sales in the cannabis world market would be a drop in the bucket. Stock rallied 10% in the last week upon elections but once the 15 min of fame are over this stock isn’t going to do much in my opinion. The spending on growth and technological developments such as “fermented cannabinoids” which I will explain now, have cost the company to fall behind in the cannabis race on market and sales share. So what is fermented cannabinoids? The Cannabis flower isn’t using cannabinoids in order to maintain its survival, which can cause a change of up to 30% in the concentration of the flower’s cannabinoids, even if grown in identical conditions it still varies from one flower to another. So, extracting and controlling this would be a very difficult task. Fermenting it is basically growing its cells in a lab and duplicating them instead of growing the flower itself – again this is explaining it in a nutshell of course. So the news about Biden wining can maybe translated into good news for Cronos Group, but for me as a skeptical, I’ll need some proof of concept before jumping in and that means sales sales and more sales! TECHNICAL VIEW on Cronos Group: Highest high pre COVID was a25.1$ at February 2019. Dropped from there all the way to 5$ with one Bullish week during that slope. Then was side channeling from 5$ to 7$ and gave one fake out on June @ 8.09$ and went back down. This Friday it broke resistance and touched 8.4$ just to drop back down to 7.5. With all rally and resistance tested twice and broken, I expect the stock to rally up more to the 13$ zone (retracement to the 38 Fib line) but I don’t see it going further then that at least in the upcoming 4-6 months. Short term Buy Long Term Sell Revise again at March 2021. Here is a chart comparing all major cannabis stocks one next to another (not including Grow generation group that could not fit in the chart since price is too high) Next up we will cover Canopy Growth! WE analyze the stock market acc to the great Ralph Nelson Elliot and combine that with fundamental and sentiment analysis on a theory we call Market Cycle Based Analysis and that gives us high prediction rate 😊 This is not a recommendation but our personal advice Trade safe and invest smart!
NASDAQ:CRONLong
by FDGT_academy
98
$CRON following pattern very nicely, where to add?OK so another that took off on the buy the rumor is $CRON. Rumor has it with the results of the Presidential Election that the new Federal government will look more favorable towards cannabis and take it of the Schedule 1 drug list. As per our pattern, CRON got its wave 3 all the way to our wave 5 target around 8.13. No matters, extensions happen. If 3 is over, and we think it might be, then expect pull back towards the 6.45-7.00 level. That is our buy zone. If we get a shallower pullback (the market owes us nothing), then a sign of real bullishness. But if it follows our current levels and drops to our buy zone, then we expect a target for finishing wave I of 3 of 9 or higher. Keep it real folks, and mellow out.
NASDAQ:CRONLong
by laventa
2
Top Cannabis Stock Picks! GRWG APHA GWPH. So I have a Solid pick in $GRWG $APHA is a great buy right now at the price and with the potential $GWPH is a LONG hold. And strictly equity. I will be adding at key levels. I Dont disregard the favorites like $ACB $CGC and others but I think that these offer potential as well. GWPH perhaps I am biased on because ive been watching this company for a while, but I think this goes higher based off potential and foothold All in all federal legalization will send us flying. Id rather be in position.
GLong
by SimpleStacks
Cannabis Stocks- GRWGI LOVE this company LONG. Unfortunately this is the perfect place to buy and the sketchiest place to buy. With a possible Biden win, cannabis stocks like this one will soar. Two things in GRWG's favor in the mean time is the possible legalization in 5 states. Also, earnings coming up is expected to be a good one. So if we hit all three. Biden win. Earnings hit. Legaliztion. Then i could see a strong run up as this ticker as already see some good volume in the past.
NASDAQ:GRWGLong
by SimpleStacks
6
$GRWG is my Top Pick in the Cannabis SpaceSince Q1 2018 through their most recent quarter GrowGeneration has seen quarterly sales grow 10X. As of the writing of this post the stock price is up about 4X over the same time period. They have grown sales by over 100% YoY on each of their last 8 quarterly earnings reports and have recorded bottom line profits in 4 of their last 6 quarters (a rare feat in the cannabis space). Going forward I see no signs of that slowing down. Some catalysts include legalization, earnings, and potential M&A. Legalization measures are on the ballot in New Jersey, Arizona, Mississippi, Montana and South Dakota. The most important of these is NJ where I believe it is likely to pass. This will continue to drive more and more legal production of cannabis. While the growers and distributors can be adversely impacted by fluctuations in prices GrowGeneration never actually touches nor sells the plant. They sell the materials and equipment required for growing cannabis and therefore benefit most from increased production. GRWG is set to report earnings on 11/16/2020 and I expect them to post another stellar quarter. I expect to see the stock price trade up to is previous high at about $22 ahead of the print. If they post another profitable quarter and maintain their impressive sales growth the stock could easily trade up to the $25-$30 range. Longer term the sky is the limit. In my opinion the biggest threat to GRWG is if a large competitor like Home Depot or Lowes tries to compete and sell their own cannabis production supplies. While this is not a threat to be taken lightly, but I believe the more likely outcome would be a partnership considering GrowGeneration has already developed relationships with some of the biggest cannabis growers. Trust is extremely important in the cannabis space making these relationships more valuable than they would be in other sectors. I have followed and owned this stock for a few years and plan to add on any meaningful pullback until or unless the fundamentals change course.
NASDAQ:GRWGLong
by ckornhauser121
7