Investing In The Best Cannabis Stocks In 2021
Looking for the best marijuana stocks to buy before the holiday? Right before Thanksgiving the best cannabis stocks to invest in are showing some upside in the market. This could be coming from two current catalysts. One is the banking reform attached to the NDAA that continues to get a bipartisan push from lawmakers this week. The other is Germany announcing an agreement to legalize marijuana promoting a controlled supply of cannabis in licensed stores.
In November the best marijuana stocks to buy have seen some of the lowest trading levels they have experienced in 2021. This is mostly due to the delays from lawmakers in passing cannabis reform in 2021. Although there is still a chance, we could see something cross the Senate floor before 2022 the chances of that happening are becoming slim. As it stands the cannabis sector has been negatively impacted by the federal government’s inability to end US cannabis prohibition this year.
But for new investors, these much lower trading levels could produce larger gains in the future. One area that has shown substantial market volatility in 2021 is the best Canadian cannabis stocks. Because they have the most to gain from entering the American cannabis market Canadian marijuana stocks have seen the most declines after pot stocks rallied in February.
Finding Pot Stocks In November 2021
Before investing in marijuana stocks, it’s important to consider a few important factors. For one top cannabis stocks are known for having significant market volatility making them a higher-risk investment. In 2021 the only event that has moved the cannabis sector higher is the possibility of federal cannabis reform. In November leading cannabis companies are showing strong revenue growth and continue expanding in their markets.
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One-way investors are taking advantage of these lower stock prices is by trading them using short-term strategies. In general, traders use day trading and swing trading methods to produce gains with volatile stocks. Pot stocks that trade at lower price points are known for having significant price fluctuations and be primed for some upside. Let’s look at 2 top Canadian marijuana stocks for your penny stock list for this week.
Best Canadian Cannabis Stocks For Your Watchlist After Thanksgiving
- Sundial Growers Inc. (NASDAQ: SNDL)
- Neptune Wellness Solutions Inc. (NASDAQ: NEPT)
Sundial Growers Inc.
Sundial Growers Inc. engages in the production and marketing of cannabis products for the adult-use market in Canada. At the present time, the company manufactures and distributes inhalable products, such as flower, pre-rolls, and vapes. Recently Sundial announced it launched the first Canadian Caviar cone under the Top Leaf brand. In detail, the Forbidden Lemon Caviar Cones will be the first caviar cone product to hit the Canadian market. Generally, this launch reinforces Sundial’s focused innovation pipeline around premium inhalable in the Canadian cannabis market. In October Sundial announced it would acquire Alcanna Canada’s largest private liquor retailer.
On November 11th Sundial delivered its third-quarter 2021 results with net earnings of $11.3 million and an Adjusted EBITDA of $10.5 million. Specifically, the net revenue from the cannabis segment reached $14.4 million in Q3 2021. Gross margins from the cannabis segments were $1.8 million compared to a loss of $19.5 million in Q3 2020. In addition, the company saw investment and fee revenue of $3.3 million, realized gains on securities of $6.0 million and the company has profited from equity account investees of $9.9 million in Q3 2021.
SNDL stock is trading at $0.6651 on November 24th down 9.77% in the past five trading days. The stock has a 52-week price range of $0.267-$3.96 and is up 42% year to date. According to analysts at Tip Ranks SNDL stock has a 12-month average price target of $0.89 per share. In this case, this would represent an upside of 33.71% from its last trading price.
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Neptune Wellness Solutions Inc.
Neptune Wellness Solutions Inc. recently completed a transition to a fully integrated consumer packaged goods company. Specifically, the company is launching a lineup of CBD beverages in the US including CBD-infused flavored teas and lemonades. In general, Neptune is transitioning from a B2B cannabis and hemp extraction company to a consumer products company. As it stands, with a new focus on consumer products the company is providing cannabis, nutraceuticals, beauty and personal care, and organic food & beverage products. In October the company appointed Jessica Adkins as Senior Vice President and Corporate Communications.
Earlier this year Neptune secured a supply agreement with Alberta Gaming, Liquor, and Cannabis expanding the company’s presence into over 1600 retailers in Canada. As a result, the company can now sell recreational cannabis products through its Mood Ring and PanHash brands across British Columbia, Alberta, Ontario, and Quebec. On November 15th Neptune delivered its fiscal second-quarter 2022 results with revenue totaling $15.7 million. This marks the third quarter of consecutive sequential revenue growth. The company sustained a gross profit loss of $1.8 million an improvement of $2.9 million over Q3 F21.
NEPT stock is trading at $0.52 on November 24th down 17.14% in the past five trading days. The stock has a 52-week price range of $0.47-$3.60 and is down 60.62% year to date. According to an analyst at CNN Business NEPT stock has a 12-month median price target of $0.60 per share. In essence, this would be a gain of 14.98% from its current trading price of $0.52.
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