Is Now The Time To Find Top Cannabis Stocks To Invest In?
Are you looking for top marijuana stocks to invest in right now? After a good start in September, the best cannabis stocks to buy could begin to show more upside in September. One area of the cannabis sector that has delivered gains in the past is marijuana penny stocks.
For those investors unfamiliar with penny stocks these are any stocks trading under the $5 price point. For the most part, penny stocks are known for being a high-risk investment due to their market volatility. In 2021 penny stocks have seen their share of volatility. After reaching new highs in February many top pot penny stocks have seen several months of declines in value. Now in September cannabis investors have seen some upside in the first week of trading.
In the fourth quarter of 2021, there are some potential catalysts for top marijuana penny stocks. For one federal cannabis reform could take center stage to end the year as things progress. Many investors currently believe some form of cannabis legislation could be pushed through Congress before the year ends. This could give the cannabis sector some renewed upward momentum to close the year. At the present time, many top cannabis penny stocks are trading near their lowest price points of 2021.
Investing In Pot Stocks In 2021
For investors looking to invest in marijuana stocks, it could be time to make a list of the top cannabis penny stocks in September. Before investing in marijuana stocks, it’s always important to do your own due diligence on a company.
Researching a company’s financials and studying how the stock performs in the market can help you make the best investments and lock in the most gains. Ordinarily, many investors prefer trading penny stocks on a short-term basis. This usually involves using short erm trading methods like day trading and swing trading.
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In this short week of trading making a list of top marijuana stocks trading under the $1 price point could have potential returns. Some of these marijuana penny stocks have already shown double-digit percentage gains in a day. As the market continues to show upside let’s look at possibly 2 of the best cannabis penny stocks for your list right now.
Top Marijuana Penny Stocks Under $1 In September 2021
- Red White & Bloom Brands Inc. (OTC: RWBYF)
- Cansortium Inc. (OTC: CNTMF)
Red White & Bloom Brands Inc.
Red White & Bloom Brands Inc. is positioning itself to be one of the top multi-state operators in the US cannabis market. At the present time, the company is expanding in the legal cannabis and hemp markets with retail locations in Michigan, Illinois, Massachusetts, Arizona, Florida, and California. Additionally, RWB made the acquisition of all Florida operations from Acreage Holdings Inc. (OTC: ACRHF). As a result, RWB will have 8 retail stores in prime locations in Florida, a 114,000 SQ. foot facility, and a 400 Sq. foot office building.
In August the company closed the acquisition of a 45,000 sq ft greenhouse on 4.7 acres in Florida. The acquisition adds near-term cultivation capacity while the company works on its 114,0000 square foot facility in Sanderson Florida. On August 30th RWB reported its Q2 2021 results wit with $58.5 million in adjusted sales revenue for the first six months of 2021. The company pulled in revenue of $13.3 million in Q2 2021 compared to $11.8 million in Q1 2021. As a result, the gross margin was $9.5 million in Q2 2021.
RWBYF stock closed on September 3rd at $0.7745 up 14.40% for that day. The stock has a 52-week price range of $0.604-$1.65 up 29.46% year to date. According to analysts at Wallet investor RWBYF stock has a 1-year price forecast of $1.171 per share. With movement in the cannabis sector RWBYF stock could be a top marijuana penny stock to watch right now.
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Cansortium Inc.
Cansortium Inc. is another MSO cannabis company focusing on providing the highest quality marijuana in the state of Florida. Currently, the company has established operations in Texas, Michigan, and Pennsylvania. The company is expanding its presence in Florida and Pennsylvania fully funded by a recent debt and equity financing of $90 million. In July, the company opened its newest dispensary in Deerfield, Florida. Right now, Cansortium has 26 operational dispensaries in Florida giving it a sizable presence in the state.
The company expects to have a total of 27 operational dispensaries by the end of 2021. In addition, its brand the Fluent has produced a wide variety of premium dried flower, edibles, and full-spectrum concentrates cartridges, and creams. On August 24th Cansortium released its Q2 2021 results with revenue up 24% year over year to $16.5 million. Additionally, the company reported an adjusted EBITDA of $5.2 million. Adjusted gross profits increased 24% to $10.7 million or 65.1% of revenue. In August Fluent by Cansortium expanded its Florida cultivation with new greenhouse facilities in Homestead and Sweetwater.
CNTMF stock closed at $0.727 in September down 19.39% in the last month. The stock has a 52-week price range of $0.549-$1.35 and is down 5.58% year to date. According to analysts at Tip Ranks CNTMF stock has a 12-month average price target of $1.30 per share. In essence, this would represent an increase of 78.82% from its last trading price of $0.73. For this reason, CNTMF could be one of the best cannabis stocks for your list this week.
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