Best Marijuana Stocks To Watch During This Downtrend
As top marijuana stocks continue to shed value, are looking for ways see take advantage of lower stock prices? For many active traders right now could be a good time to find the best cannabis penny stocks to watch. Known as higher risk investments penny stocks are any securities trading under the $5 price point. In general penny stocks for the most part have more price volatility which traders take advantage of using short-term trading methods.
Some active traders use day trading and swing trading methods to produce profits with top marijuana penny stocks. Because penny stocks trade at much lower price points investors can establish larger positions with less capital. In 2021 the best cannabis penny stocks rallied in the first quarter but have experienced declines since February trading. Now in December most penny pot stocks have fallen near the lowest values seen by investors in 2021.
For investors looking for ways to see returns next year making a watchlist of top cannabis stocks can help you keep track of a stock’s market performance. In addition, researching a company’s earnings and press releases can give investors insight into a market’s best-performing companies. As we brace for more price swings going into the end of the year the Feds announced that they believe inflation is still transitory and remained steady on the current schedule for making economic adjustments.
Penny Stocks And The Current US Cannabis Industry
As we watch marijuana stocks decline in the market in December one of the biggest things to weigh on cannabis stocks this year is federal cannabis reform. Without any changes being solidified this year by Congress in terms of federal marijuana legalization or cannabis banking reform, the cannabis sector continues to decline. Let’s look at 2 top marijuana penny stocks for your list to close out 2021.
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Top Cannabis Penny Stocks For Your Watchlist This Week
- Clever Leaves Holdings Inc. (NASDAQ: CLVR)
- Acreage Holdings, Inc. (OTC: ACRHF)
Clever Leaves Holdings Inc.
Clever Leaves Holdings Inc. is a global company that cultivates, extracts, produces and sells pharmaceutical-grade marijuana products. The company is currently active in Colombia, Portugal, Germany, the United States, and Canada. The business is divided into two segments: cannabis and non-cannabinoid. It also creates, manufactures, markets, distributes, and sells homeopathic and other natural treatments, health products, and detoxification goods, among other things.
Clever Leaves released its third-quarter 2021 results in November. In particular, the firm generated a record $4.0 million in sales in Q3 2021, with a 22% increase in gross profit year over year. As a result, gross profit climbed by 22% to $2.5 million, yielding a gross margin of 62.9% on a 1000-point basis. In addition, compared to a net loss of $6.1 million in Q3 2020, net income in the third quarter of 2021 climbed to $1.0 million. The firm updated its sales forecast and now expects revenue of $14-$16 million in 2021.
CLVR stock is trading at $3.8973 on December 15th down 10.60% in the past five trading days. Currently, the stock has a 52-week price range of $3.69-$19.46 and is down 56.40% year to date. According to analysts at CNN Business CLVR stock has a 12-month median price target of $9.00 per share. This forecast represents an increase of 131.36% from its last trading price.
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Acreage Holdings, Inc.
At the present time, Acreage Holdings, Inc., a US multi-state business with cannabis production and retail locations around the country, is next on the list. Most importantly, Acreage has a collaboration with Canopy Growth Corporation, which might lead to an acquisition (NASDAQ: CGC). Currently, Acreage might play a key role in the entry of Canadian cannabis enterprises into the US cannabis market. Acreage has a substantial presence in New York and New Jersey, and the rising markets there might see considerable expansion in the next years. Acreage now runs the maximum number of dispensaries permitted in New Jersey and is attempting to complete its growing facility in the state. The corporation bought cultivation, processing, and retail operation in Ohio in October. Acreage would gain a 70,000-square-foot growing facility and five operational retail outlets because of this deal.
Acreage announced its third-quarter 2021 results on November 10th, with consolidated sales of $48.2 million, up 52 percent year over year. In addition, the company’s gross margin increased by 49% in Q3 2021. Consequently, Acreage reported a $12.3 million net loss in Q3 2020, compared to a $40.5 million loss in Q3 2020. The firm earned $6.5 million in Adjusted EBITDA in Q3 2020. This is an increase compared to a loss of $6.9 million in Q3 2020.
ACRHF stock is trading at $1.6150 on December 15th down 4.47% in the last five days of trading. The stock has a 52-week price range of $1.44-$9.00 and is down 44.84% year to date. According to analysts at Market Beat ACHRF stock has a consensus price target of $7.00 per share. In this case, this would represent an increase of 309.4% from its last trading price of $1.6150.
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