Investing In The Best Marijuana Stocks Right Now
Are you looking for different ways to invest in marijuana stocks in 2021? Right now, the best cannabis stocks to buy in May are at levels that could produce future gains for investors. So far this year top cannabis stocks have seen significant volatility in the market. In January the cannabis sector rallied impressively until almost mid-February after that top cannabis stocks have declined for several months.
But in May it seems the cannabis sector is trying to move higher in the market. As we head into June there is a strong possibility, we may see some new legislation surrounding cannabis reform introduced this week. One area of the cannabis sector that’s considered a high-risk high reward area of the market is top marijuana penny stocks to watch. By definition penny stocks are any stocks trading under the $5 price level.
Specifically, penny stocks are known for having the largest price fluctuations in the market. Many investors prefer to trade penny stocks on a short-term basis. Some use day trading and swing trading methods to capitalize on the price variations on a daily basis. Particularly cannabis penny stocks have gained triple-digit percentage gains in 2021. Although some of that upside has been given back as the year progressed many marijuana penny stocks are still up this year.
Cannabis Penny Stocks And Market Volatility
At current price points, there is a strong chance leading pot penny stocks could produce returns for investors in the near future. But before investing in any stock investors should always do their due diligence. Generally speaking, researching a company’s earnings and understanding how a stock performs in the market can help you make better returns on your investments.
Entering a position at the right price is a crucial element in making gains with marijuana penny stocks. Because these pot stocks move so quickly in the market it’s also important to keep a close eye on these investments. With all this in mind, we can start researching some top marijuana penny stocks to watch.
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Actually, these cannabis penny stocks are currently trading under $1 per share. In essence, these low-price points make it less capital intensive to establish a sizable position. Because of the possibility of the cannabis sector showing some upward momentum these top marijuana penny stocks could present some future short-term gains in the market.
Marijuana Penny Stocks To Watch
- MediPharm Labs Corp. (OTC: MEDIF)
- Namaste Technologies Inc. (OTC: NXTTF)
MediPharm Labs Corp.
At the present time, MediPharm Labs Corp. is a producer of purified, pharmaceutical-grade cannabis oil, concentrates, and advanced derivative products. Primarily, the company has a wholesale and white label distribution platform distributing cannabinoid-based products both domestically and globally. On May 17th MediPharms reported its first-quarter 2021 results which the company considers a cross-over period for their future presence as a global cannabis API provider to the medical and wellness markets. Specifically, MediPharms saw a gross profit of $0.68 million. The companies Q1 2021 margins were negative because of lower production volumes and inventory. Actually, MediPharms has a net loss of $0.07 per share in Q1 2021 an improvement from the Q4 2020 net loss of $0.21 per share.
Currently, MediPharms has established 30 plus agreements with customers in eight different countries. Specifically, the company has established a large European pharmaceutical platform and portfolio. In addition, MediPharms expects heightened customer demand in 2021. With new exports in April, the company has achieved a milestone by shipping cannabis oil from Australia to Germany. In general, this strengthens MediPharms global position as a leader in medical cannabis production.
MEDIF stock is trading at $0.398 up 9.21% on May 25th heading into the close. In February MEDIF stock saw a high of $0.7850 and is now down 10.74% year to date. According to analysts at Tip Ranks MEDIF stock has a 12-month average price target of $0.57 per share. In general, this represents a 43.12% increase from current levels. For this reason, MEDIF stock could be a top marijuana penny stock to add to your watchlist for June.
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Namaste Technologies Inc.
As an online platform, Namaste Technologies Inc. engages in the online sale of herbal vaporizer hardware and ancillary products globally. Currently, the company offers hardware and ancillary products, like bongs and pipes; smoking accessories; medical and dried cannabis; and distributes cannabis and cannabis-derived products. In detail, the company operates CannMart.com, an e-commerce platform where medical cannabis customers purchase cannabis and cannabis accessories. Today Namaste announced its subsidiary CannMart Inc has exclusive distribution rights to all Phyto Extractions products. For some background, Phyto is a well-known producer of shatter products nationally.
In April Namaste reported its first-quarter 2021 results that show revenue increasing 113% year over year. In detail, the company brought in net revenue for Q1 2021 of $5.5 million. Additionally, the company’s inventory decreased by 33% showing improved inventory management practices. Some highlight for the quarter is MediPharms launch of CannMart.com into the US offering American’s hemp-derived CBD and smoking accessories.
MEDIF stock closed on May 25th at $0.1749 up 16.13% year to date. In February MEDIF stock saw a high of $0.40 per share and is now down 10.94% in the last month. According to analysts at Market Beat MEDIF stock has a consensus price target of $0.69 per share. Relatively speaking this represents an increase of 283.3% from current trading levels. Because of this MEDIF stock could be one of the best marijuana penny stocks to buy before June.
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