Marijuana Stocks to Watch: Key Takeaways
- TLRY just took a stake in this tiny penny stock company (see stock #4)…
- The volatile weed stock I’m watching for a multi-day breakout…
- Low-priced marijuana stocks for small-account traders…
Give me 30 days and I’ll teach you the basics of my penny stock strategies.
I think penny stocks are the best way for traders to grow their small accounts. That’s why I’m focused on lower-priced marijuana stocks this month. They could make volatile moves. As always, wait for your best setups, high volume, and big percent gains before planning trades. Here’s what to watch this month…
- Intercure Ltd. Ordinary Shares (NASDAQ: INCR… Read our full analysis here.)
- Jones Soda Co. (OTCQB: JSDA … Read our full analysis here.)
- MyMD Pharmaceuticals, Inc. (NASDAQ: MYMD … Read our full analysis here.)
- MedMen Enterprises Inc. (OTCQX: MMNFF … Read our full analysis here.)
- Evogene Ltd. (NASDAQ: EVGN … Read our full analysis here.)
- Medical Marijuana, Inc. (OTCPK: MJNA … Read our full analysis here.)
- HEXO Corp. (NASDAQ: HEXO … Read our full analysis here.)
- Grove, Inc. (NASDAQ: GRVI … Read our full analysis here.)
- Village Farms International, Inc. (NASDAQ: VFF … Read our full analysis here.)
- THC Therapeutics, Inc. (OTCPK: THCT … Read our full analysis here.)
Should You Trade Marijuana Stocks?
First, you should NEVER blindly trade someone else’s picks. Not even mine.
I want you to understand how to choose stocks to trade and create smart trading plans. That’s how you can really take advantage of hot sectors and trading opportunities.
You’ve gotta think about what makes stocks move, how they move, and what you can learn from these movements for future trades.
I’m watching marijuana stocks because they’re volatile. Many are former runners, and they can move on news and hype.
Any new development could be a potential catalyst for a spike.
But before you get too excited thinking you’ll find the Tesla of marijuana stocks … Do yourself a favor and go back and study history.
I’ve seen this kind of crazy action before … In 2018, marijuana stocks went nuts on news that Canada legalized recreational use of weed on a federal level. What happened almost immediately after legalization day came and went? All the weed stocks crashed.
Some even tanked to new all-time lows.
So learn to trade these stocks. Don’t invest in them long term. Be prepared to strike when a stock fits your pattern and strategy. Always stick to your trading plan and rules and NEVER believe the hype.
Top 10 Marijuana Stocks to Watch in September 2021
Remember, this is a watchlist. There’s no guarantee any of these stocks will fit your trading pattern or style. And if you blindly buy them hoping for the best, you’re on your own. That’s not what this watchlist is for…
If that’s your plan, I suggest you save your money and paper trade until you figure out a strategy that works for you.
Use my stock picks to understand the thought process behind how I build a watchlist so you can work to build your own. Some of these stocks are higher priced. You don’t have to trade them. Learn the top lessons here then make your own watchlist.
Here’s my list of marijuana stocks to watch in September 2021…
INCR cultivates and distributes pharma-grade marijuana products.
The stock recently began trading on the Nasdaq and re-announced its record-breaking second-quarter financials.
There’s a pennant flag on the daily chart. I’ll watch for a potential breakout to the upside and over $8. Ideally with a catalyst and high volume.
Marijuana Stocks to Watch #2: Jones Soda Co. (OTCQB: JSDA)
Jones Soda develops, produces, and sells carbonated and non-carbonated beverages.
In July the company announced it will expand into the marijuana sector with “the production and sale of cannabis-containing beverages, edibles, and related products.
“Jones intends to operate its planned cannabis operations through one or more subsidiaries that are separate from its craft beverage business.”
Read the full press release here.
The company also reported second-quarter earnings on August 5.
The stock had a big multi-day run from roughly 50 cents to $1.50 after the marijuana news announcement. It dipped to around 80 cents and is now climbing back toward its 52-week high of $1.54.
I’ll watch for a potential breakout to new yearly highs. Again, I’d like to see high volume and a catalyst.
Marijuana Stocks to Watch #3: MyMD Pharmaceuticals, Inc. (NASDAQ: MYMD)
MYMD’s a biotech company that develops treatments for age-related diseases. It’s also developing a synthetic cannabinoid derivative.
On August 10 the company announced its cannabinoid derivative was granted a patent titled, “Synthetic Cannabinoid Compounds for the Treatment of Substance Addiction and Other Disorders.”
Its recent PR states, “The patent protects the Company’s drug candidate Supera-CBD, a synthetic cannabidiol derivative that targets cannabinoid receptor type 2 (CB2) for the treatment of neuroinflammatory and neurodegenerative diseases.”
Read the full press release here.
The stock is uptrending and recently had a multi-month breakout over $6.55. I’ll watch for dip buy into a big panic.
Marijuana Stocks to Watch #4: MedMen Enterprises Inc. (OTCQX: MMNFF)
MMNFF is a marijuana cultivator, distributor, and retailer in the U.S.
The stock gapped up and spiked on August 17 after the company announced that Tilray, Inc. (NASDAQ: TLRY) acquired the majority of the outstanding senior secured convertible notes that were originally held by investment funds.
But the stock didn’t hold its gains after the news. It’s trading between roughly 27 cents and 34 cents.
There are probably a ton of bag holders in this stock from its multi-day run in February. It’ll need tons of volume and a catalyst for a big move. Until we see that, I’ll watch for a panic dip buy.
Marijuana Stocks to Watch #5: Evogene Ltd. (NASDAQ: EVGN)
EVGN is a biotech with its hands in a number of sectors. But for this watchlist, I’ll focus on its medical cannabis products…
The company’s wholly-owned subsidiary, Canonic Ltd, announced the pre-launch of its first-generation medical marijuana inflorescence products in Israel on August 31. The full commercial launch is scheduled for 2022.
On September 1, the company announced that the president and CEO will present at the H.C. Wainwright 23rd Annual Global Investment Conference on September 9 at 7:30 a.m. Eastern.
The stock reacted positively to the news both days. I’ll watch it for a reaction to the CEO’s presentation and a potential breakout over $3.60.
Marijuana Stocks to Watch #6: Medical Marijuana, Inc. (OTCPK: MJNA)
MJNA develops cannabinoid and hemp-based products to treat various illnesses and manage pain.
On September 1 the company announced its subsidiary launched operations in Hong Kong.
Looks like the stock is holding 3 cents as support. I’ll watch it for a breakout over 5 cents, but I’d like to see a catalyst and huge volume.
Marijuana Stocks to Watch #7: HEXO Corp. (NASDAQ: HEXO)
HEXO’s a Canadian marijuana producer and distributor.
On September 1 the company announced it closed its previously announced arrangement with 48North Cannabis Corp. As outlined in the agreement, “HEXO has acquired all of the issued and outstanding common shares of 48North.”
Read the full press release here.
The stock’s consolidating near its 52-week lows between $2.30 and $2.70. But it’s trading higher than average volume. I’ll watch it for a potential breakout over $2.70.
Marijuana Stocks to Watch #8: Grove, Inc. (NASDAQ: GRVI)
GRVI produces, manufactures, and sells cannabinoid products through its subsidiaries. It supplies the beauty, pet care, and food sectors.
This stock returns from last month’s watchlist since it continues to offer volatility. It went from roughly $5.50 to almost $7 on August 18 after the company announced it partnered with Alfi, Inc. (NASDAQ: ALF) to use its SaaS platform to launch a huge advertising campaign.
On September 1 the stock gained almost 10% with no news. I’ll watch this one for a multi-day breakout over $6.10.
Marijuana Stocks to Watch #9: Village Farms International, Inc. (NASDAQ: VFF)
Village Farms produces and sells marijuana and hemp products.
On August 30 the company announced that its newly acquired subsidiary appointed a new CFO with over 15 years of experience with Molson Coors Brewing Co.
The stock’s a lesser-known weed stock and it’s not very volatile. It’s been trading sideways for a few months. It’s a speculative watch for a breakout over $10.
Marijuana Stocks to Watch #10: THC Therapeutics, Inc. (OTCPK: THCT)
THCT’s developing a sanitizing herb dryer for fresh marijuana and other herbs, flowers, and teas.
It’s another stock moving on news of a new CFO. The stock gained 30% on September 1 after the company announced it hired Jonathan Cross as CFO on August 31.
I’ll watch it for a breakout over 20 cents.
See the Stocks I’m Watching
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Conclusion: Should You Trade Marijuana Stocks?
When it comes to trading penny stocks, volatility can be your friend. Marijuana stocks have plenty of volatility and hype right now, so they’re creating a ton of opportunities.
But that doesn’t mean you should trade just any stock in the sector. You’ve got to be diligent about your research and studying. Only choose the setups and patterns that work for you.
If you want to make the most of weed stock opportunities, you’ve got to invest in your education account first.
I share my 20+ years of experience trading penny stocks with new traders in my Trading Challenge. I want anyone who’s dedicated to take advantage of what I’ve learned — both good and bad.
If you’re accepted (you have to apply and I only accept dedicated traders), you’ll get access to tons of video lessons, live trading, and Q&A webinars. Plus, you can get trading commentary from me and the top traders and moderators in my Challenge chat room.
I purposefully trade with a small account so I can be on the same level as new traders. I also show every single trade publicly so I can use every trade as a lesson.
But don’t apply if you’re looking to get rich quick. That’s not what I teach. Trading isn’t easy. You have to study, work hard, and put in the time and dedication.
Ready to get started? Apply today.
What do you think about these marijuana stocks to watch? Are any of these tickers on your watchlist? Let me know in the comments, I love to hear from you!