Best Marijuana Stocks To Watch In This Downtrend
Would you like to know which marijuana stocks to buy before the year is over? Short-term traders got a ton of possibilities this week because of the market’s extraordinary volatility. Top cannabis companies may see increased volatility as federal cannabis legalization moves forward on Capitol Hill. Cannabis penny stocks are one sector of the cannabis market where day traders and swing traders may find opportunities.
Earlier this month, Sen. John Hickenlooper (D-CO) formally filed a bill to prepare the country for the previously anticipated federal legalization of marijuana. The Preparing Regulators Effectively for a Post-Prohibition Adult-Use Regulated Environment Act (PREPARE Act) would provide the attorney general instructions to form a commission tasked with offering suggestions for a marijuana regulatory framework similar to the one in place for alcohol.
Many cannabis investors are actively trading marijuana stocks utilizing short-term trading strategies to benefit from the current volatility. Many of the largest cannabis companies’ current market valuations are comparable to those of penny stocks. Penny stocks are any shares with a price of less than $5. They are well known for their high volatility and capacity for significant daily price fluctuations. The two best marijuana penny stocks to watch in December are examined next.
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Top Marijuana Penny Stocks For December 2022
- Columbia Care Inc. (OTC: CCHWF)
- Lowell Farms Inc. (OTC: LOWLF)
Columbia Care Inc.
Columbia Care Inc.’s footprint in the New York area will expand dramatically. The company, one of the most significant cannabis growers on the East Coast, just bought a 34-acre Long Island facility. Currently, Columbia Care has 131 locations, including 99 dispensaries and 32 growing and processing facilities, dispersed over 18 American cities. In October 2021, the company unveiled a marijuana dispensary at its first site in Missouri. The business recently made public the location of Virginia’s third gLeaf dispensary. On March 23, Columbia Care was purchased by Cresco Labs Inc. (OTC: CRLBF), the largest MSO in the US, for a $2 billion total enterprise value.
The business estimates third-quarter 2022 revenue climbed 2.4% QoQ to $133 million. The business’s gross profit increased 2.5% QoQ to $52 million. Retail revenue barely increased by 0.4% when compared to Q2 2022. However, wholesale revenue increased by 14% sequentially and significantly raised EBITDA. By June 2022, adult usage hours would have been fully implemented in New Jersey’s retail outlets. Market sales grew sequentially by more than 75%, while wholesale growth outperformed quarterly growth by more than five times. In Q3, no new retail establishments were inaugurated. The company opened Carytown, its fifth retail site in Virginia, after the quarter ended, bringing the total number of dispensaries to 85.
CCHWF Stock Performance
CCHWF stock closed on December 14th at $1.18, down 30.99% in the last month of trading. Currently, the stock has a 52-week range of $1.15-$3.39, down 58.75% year to date. According to analysts at CNN Business CCHWF stock has a 12-month average price target of $3.73 per share. In this case, this is an upside of 215.69% from its last trading price of $1.18.
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Lowell Farms Inc.
Lowell Farms Inc., a well-known cannabis company based in California, is rapidly expanding its market share. The development of excellent cannabis brand licenses, artisan craft cannabis growing, and cutting-edge manufacturing techniques are the organization’s primary goals. The business and Ascend Wellness Holdings have a license arrangement. The two businesses will work together to provide the Lowell Smokes brand to dispensaries in Massachusetts and Illinois. In November, Ascend and Lowell officially decided to ship Lowell Smokes to Michigan. The renowned Lowell Smokes pre-roll bundles will also be available in Illinois, the business claims.
Lowell Farms reported $8.7 million in revenue for the third quarter of 2022, a decrease of 31% from the third quarter of 2021 and 34% sequentially. Revenues from the Lowell brand climbed from 66% of CPG revenues in the prior quarter to 82% of CPG revenues this quarter. The company had an operating loss of $5.2 million in the third quarter, down from $7.0 million and $3.0 million sequentially in the second quarter. In addition to a net loss of $4.8 million for the third quarter, a gain of $2 million related to an acquired ERC credit was also recorded.
Words From The Chairman
“While these unaudited results are not in line with expectations, we remain confident moving into 2023 and beyond. The successful launch and positive reception that our 35’s pre-roll brand has enjoyed gives us great confidence. The market share for this coveted new product has increased substantially since the launch in September.”
Chairman of the Board George Allen.
LOWLF Stock Performance
The shares of LOWLF closed at $0.1203 on December 14th, down 32.79% in the last month of trading. The stock is now trading in a 52-week price range of $0.1099-$0.525 and is down 62.22% year to date.
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Best Pot Stocks For Watchlist Now
Using financial data and press releases, you may find the most promising companies. Before taking a position, you should do considerable research on the company. Investing performance can increase as you become more skilled at utilizing technical indicators and chart patterns. Short-term traders may benefit from the current market conditions due to the cannabis industry’s quick local and international expansion. You could find it helpful to become familiar with various trading tactics in a downturn. In December 2022, you should add the above cannabis penny stocks to your watchlist.
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