There is a lot of hype surrounding the cannabis industry. In most U.S. states, medical marijuana is legal, and many other states have legalized it for recreational purposes. To know what opportunities cannabis stocks can offer, one must know about the best cannabis stocks.
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What is the purpose of learning about cannabis stocks?
In general, the cannabis industry appears to have a promising future across the globe, with the United States being the largest market. Investopedia estimates that cannabis’ annual market value across the U.S. will surpass $30 billion by 2025. In comparison, Cannabiz Media predicts the U.S. cannabis industry will reach $160.7 billion by 2025. It does not matter what the stats are; the market is growing fast.
Based on this, what conclusions can you draw? Cannabis companies have plenty of revenue-generating opportunities, and by revenue-generating opportunities, we mean massive ways to generate revenue. In this article, we present the top three cannabis stocks to buy before this year.
Canopy Growth Corporation (NASDAQ: CGC) is -42.74% lower on its value in year-to-date trading and has touched a low of $12.86 and a high of $56.50 in the current 52-week trading range. The CGC stock was last observed hovering at around $14.11 in the last trading session, with the day’s loss setting it -1.60% off its average median price target of $17.67 for the next 12 months.
Kovacevic Rade Nikola, President, of Canopy Growth Corporation (CGC), sold 4,372 shares of Canopy Growth Corporation stock in an exchange that took place on Nov 13. The shares were sold at an average price of 31.40 each, amounting to a total Sale worth $137,281. As of the close of the Sale, President now directly holds 0 shares of the organization’s stock, which is now worth about $0.0. The deal was disclosed in a Securities & Exchange Commission legal filing, which can be publicly viewed on the SEC website.
Clever Leaves Holdings Inc. (CLVR) started the day trading at $7.33 and recorded an intraday high of $7.4399. It also recorded an intraday low of $7.03 during Wednesday’s trading session. Clever Leaves Holdings Inc. is a very active stock that recorded a trading volume that is more than 55.51% of the average daily trading volume on Wednesday. The stock’s trading volume on Wednesday was 60089.0, which is more than 55.51% of the total average daily trading volume of 60089.0.
According to WSJ, Clever Leaves Holdings Inc. (NASDAQ: CLVR) obtained an estimated Overweight proposal from the 2 brokerage firms currently keeping a deep eye on the stock performance as compares to its rivals. 0 equity research analysts rated the shares with a selling strategy, 1 gave a hold approach, 1 gave a purchase tip, 0 gave the firm overweight advice, and 0 put the stock under the underweight category. The average price goal of one year between several banks and credit unions that last year discussed the stock is $12.00.
The price of Innovative Industrial Properties Inc. (NYSE: IIPR) moved up by $6.37 during the normal trading session on Wednesday to trade at $252.68. The Innovative Industrial Properties Inc. (IIPR) stock has a trading volume of 0.32 million shares, which is high, compared to its average daily volume of 168.55K shares.
The Williams Percent Range or Williams %R is a well-known specialized pointer made by Larry Williams to help recognize overbought and oversold circumstances. Innovative Industrial Properties Inc. (NYSE: IIPR)’s Williams Percent Range or Williams %R at the time of writing to be seated at 7.51% for 9-Day. It is also calculated for different time spans. Currently, for this organization, Williams %R is stood at 5.49% for 14-Day, 5.49% for 20-Day, 5.49% for 50-Day and to be seated 2.44% for 100-Day. Relative Strength Index, or RSI(14), which is a technical analysis gauge, also used to measure momentum on a scale of zero to 100 for overbought and oversold. In the case of Innovative Industrial Properties Inc., the RSI reading has hit 65.58 for 14-Day.