Top Cannabis Stocks In 2021
Currently, top marijuana stocks seem to be recovering some of the earlier losses from Christmas week. After a rough year in the market, the best cannabis stocks to invest in have fallen to the lowest trading levels seen this year in December. For new investors, this could be an opportunity to find top pot stocks at much lower price points. One major factor that caused the declines in the cannabis sector is federal marijuana legalization and cannabis reform.
For the entire year, House representatives passed federal cannabis reform policies that continued to get stopped in the Senate. This caused a severe downtrend that has created significant market volatility with marijuana stocks this year. Although the cannabis sector has not performed well in the market many leading cannabis companies delivered strong revenue growth in 2021 and expanded into new markets.
One-way investors are taking advantage of this market volatility is by trading marijuana penny stocks. Penny stocks are any stocks trading under the $5 benchmark. In general, this area of the market is known to be a higher risk-reward area that many active traders prefer to invest in for the short term. Specifically, traders use day trading and swing trading techniques to produce gains on a short-term basis.
Top Pot Stocks And Finding The Best Trades
Before investing in top marijuana penny stocks there are a few important factors to consider. For one researching a company’s financials and press releases can help you find the top companies to invest in. Another important tool that can help you produce the greatest returns is studying how a stock moves in the market. A key element in becoming a successful trader is to learn to use trading tools to establish the best entry point for your investment.
[Read More] Top Cannabis Stocks To Watch Before January 1st
As we close out 2021 it could be time to make a list of top cannabis stocks to watch next year. This year the cannabis sector rallied in the first quarter and could be currently setting up for a similar uptrend to start 2022. Let’s look at 2 top marijuana penny stocks for your list in January.
Best Cannabis Penny Stocks To Watch Right Now
- Clever Leaves Holdings Inc. (NASDAQ: CLVR)
- Acreage Holdings, Inc. (OTC: ACRHF)
Clever Leaves Holdings Inc.
Clever Leaves Holdings Inc. is a multinational corporation that cultivates, extracts, manufactures and sells pharmaceutical-grade marijuana. Colombia, Portugal, Germany, the United States, and Canada are among the company’s current operations. Cannabis and non-cannabinoid products are separated into two categories. It also develops, manufactures, promotes, distributes, and sells homeopathic and other natural remedies, as well as health and detoxification products.
Clever Leaves’ third-quarter results for 2021 were revealed in November. In Q3 2021, the company hit a sales high of $4.0 million, with a 22 percent increase in gross profit year over year. As a result, gross profit increased by 22% to $2.5 million, resulting in a 62.9% gross margin on a 1000-point basis. In addition, compared to a net loss of $6.1 million in the third quarter of 2020, net income increased to $1.0 million in the third quarter of 2021. Revenue of $14-$16 million is now expected in 2021, according to the company’s amended sales projection. On December 21st the company expanded in Portugal by obtaining a license to expand its greenhouse facilities.
CLVR stock is trading at $3.43 on December 22nd down 6.67% in the past five trading days. Currently, the stock has a 52-week price range of $3.35-$19.46 and is down 53.72% 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 160.12% from its last trading price.
[Read More] 3 Top Marijuana Stocks To Add To Your Watchlist Right Now
Acreage Holdings, Inc.
At the present time, Acreage Holdings, Inc., a multi-state company with cannabis production and retail outlets across the country. Most notably, Acreage has a partnership with Canopy Growth Corporation that could result in an acquisition (NASDAQ: CGC). Acreage could currently play a crucial role in the admission of Canadian cannabis businesses into the US cannabis industry. New York and New Jersey have a sizable acreage presence, and the rising markets there could see significant growth in the coming years. Acreage presently operates the maximum number of dispensaries allowed in New Jersey and is working to finish its growing facility there. In October, the company purchased cultivation, processing, and retail operation in Ohio. As a result of the agreement, Acreage will obtain a 70,000-square-foot growing facility and five functioning retail stores.
On November 10th, Acreage released its third-quarter 2021 results, reporting consolidated sales of $48.2 million, up 52 percent year over year. In addition, in Q3 2021, the company’s gross margin improved by 49%. As a result, Acreage recorded a $12.3 million net loss in Q3 2020, down from a $40.5 million loss the previous quarter. In Q3 2020, the company made $6.5 million in Adjusted EBITDA, compared to a loss of $6.9 million the previous quarter.
ACRHF stock is trading at $1.70 on December 22nd down 15.48% in the last month of trading. The stock has a 52-week price range of $1.44-$9.00 and is down 48.39% 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 311% from its last trading price of $1.70.
[Read More] US Marijuana Stocks For Your List In 2022
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