Strong start to the Q1 reporting season and optimism that the US and China will manage to avoid a full-scale trade war helped the stock market has grown since the beginning of April volatility over the past week and a half, renewed investor confidence around the world.
Fresh uptrend over the last several trading periods inspired positive trade in a number of key world markets. But it is curious that a number of optimistic news in the nascent marijuana industry has led to an even stronger recovery in investment.
Canadian marijuana stocks witnessed a massive sell-off earlier this month after industry leader Canopy growth Corporation (OTCMKTS:TWMJF) failed to defend its 50-day moving average.
These fashionable responsibility are accompanied by active traders with sample strategies and technical measures, as this may cause much traffic.
But investors who are serious about this market to understand that there are many different options to focus on. With this in mind, let’s look at some popular stock with the impact of the marijuana industry has executed over the past few weeks.
Marijuana stock charts that are just smoke: Kronos Grupp Inc. (cron)
Kronos Grupp Inc. (Nasdaq:cron) became the first pure-play medical marijuana company on the American stock exchange when it debuted on the Nasdaq in late February. The firm invests in companies that have a license to manufacture and sell the medical grade pot. Here’s how the shares held for the last two weeks:
Cron has clearly been recently on fire, and that may be because shares are finally starting to understand, legitimate, bullish analyst coverage.
In fact, about a week ago, shares of Kronos received its first update since the company debuted on the Nasdaq, Toronto investment Bank securities GMP increase stock from hold to a buy.
Marijuana stock charts that are just smoke: innovative industrial properties Inc. (IIPR)
Innovative industrial properties Inc (US:IIPR) is Wright focused on the acquisition, ownership and management of specialized industrial facilities for the medical use of cannabis hall.
IIPR also causes some solid momentum in the past two weeks. Investors are probably excited about the recent acquisition of the company 89,000 square feet in Pennsylvania, which was announced last week.
The deal includes a new customer relationship with health, Vireo, farming and medical dispensary business.
Marijuana stock charts that are just smoke: GW pharmaceuticals PLC (GWPH)
GW pharmaceuticals PLC (Nasdaq:GWPH) is a British biopharmaceutical company that develops cannabinoid treatments. Firm sticking out of the above stocks because its stock is behaving much more similar to traditional research in biotechnology, weed oriented than Wright or investment Fund.
GWPH began to gain momentum, as investors are preparing for the FDA to approve cannabis-based anti-seizure drug Epidiolex.
The regulatory body is meeting this week to discuss the benefits and risks of treatment, and if the conversation goes well, it will consider approving the drug on June 27.
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