Top Cannabis Stocks For Short Term Investors
Are you looking for top marijuana stocks and fresh investment opportunities in the cannabis industry? Several well-known cannabis businesses have been experiencing declines over the last two years, hitting new lows by the end of 2022. The Senate’s repeated failures to pass federal cannabis reform are largely to blame for this. This presents a substantial opportunity for new investors, notwithstanding the disappointment of long-term cannabis investors who had anticipated fast cannabis legislation.
Trading cannabis penny stocks is one method cannabis investors can profit from the present slowdown in the cannabis industry. For the ease of those who are unsure, any stock that trades for less than $5 is referred to as a penny stock. These marijuana businesses, which have a reputation for having a high level of market volatility, might result in significant returns for short-term investors.
Some long-term investors also employ short-term trading tactics in addition to their long-term investments in the cannabis sector. As a result, they stand to gain from daily stock price changes. Investors might be able to profit from the current market trend by taking advantage of the sector’s fall. The three marijuana stocks under $1 to watch this week in February 2023 are listed below.
[Read More] Top Cannabis ETFs To Watch Mid February
Top Cannabis Stocks Under $1 To Watch Right Now
- Planet 13 Holdings Inc. (OTC: PLNHF)
- Cansortium Inc. (OTC: CNTMF)
Planet 13 Holdings Inc.
On the Las Vegas Strip, the 112,000-square-foot Superstore dispensary of Planet 13 is well-known. In 2021, Planet 13 will become the largest marijuana shop in the state when it constructs a massive store in Orange County. On planet 13, there are two of the biggest cosmic superstore dispensaries. The Medezin location provides a retail dispensary in addition to a streamlined version of the business’ main website. In March, the business successfully acquired California’s Next Green Wave thanks to vertical integration.
Revenue for Planet 13 fell by 22.2%, from $33.0 million to $25.6 million, in the third quarter of 2022. Additionally, the gross profit decreased by 41.2% and 53.8%, respectively, from $10.6 million to $10.7 million. Instead of a loss of $2.7 million, the corporation experienced a net loss of $6.3 million. Additionally, adjusted EBITDA was $0.4 million as opposed to $2.6 million. The business was successful in purchasing a 23,500-square-foot facility in Florida on July 5. A proposal that includes a consumption lounge is also being developed by Planet 13 for the SuperStore expansion in Vegas. Nevada swiftly grew, so the first harvest for the company happened in September.
The long-running Las Vegas SuperStore experience will soon include a consumption lounge, Planet 13, revealed in December after considerable anticipation. On January 19, the firm unveiled the fourth location of their envisioned network of Florida dispensaries, which is located in Port Orange on the “Fun Coast.” Port Orange is a part of the popular vacation destination with a population of over 600,000, the metropolitan region of Deltona, Daytona Beach, and Ormond Beach.
Words From Co-CEO
“We are moving along at a steady pace in bringing our vision to fruition in Florida. We are balancing the competing priorities of opening as soon as possible with the need to do it in a cost-effective manner that reduces cash outlay and creates a long-term competitive position. We are eager to start serving the patients of Port Orange and showing why the Planet 13 name and products command such a strong reputation.”
Bob Groesbeck and Larry Scheffler
PLNHF Stock Performance
PLNHF stock closed on February 17th at $0.9848, down 0.02% in the last month of trading. Currently, the stock has a 52-week price range of $0.603-$2.94 and is up 61.44% year to date. According to analysts at CNN Business, PLNHF stock has a 12-month forecast median target of $1.13 per share. In this case, this would represent an increase of 14.83% from its last trading price of $0.9848.
[Read More] 3 Marijuana Stocks To Buy Before The End Of The Day?
Cansortium Inc.
The Florida-based cannabis company Cansortium Inc. is dedicated to making top-quality marijuana. The company’s current locations include Texas, Michigan, and Pennsylvania. With a $90 million loan and stock arrangement, Cansortium is extending its reach into Florida and Pennsylvania last year. The business claims that a dispensary is operating right now in Fruitland Park, Florida. Cansortium is one of Florida’s largest dispensary networks, with 27 sites. Under the Fluent brand, Fluent provides a variety of high-end consumables, full spectrum extracts, cartridges, and lotions.
Cansortium reported a 42% year-over-year rise in revenue to $22.1 million for the third quarter of 2022. Additionally, Q3 Adjusted EBITDA reached a new high of $11.7 million, up 15% QoQ and more than 2x YoY, with $5.4 million in cash from operations. Revenue in Florida increased by 39%, from $13.1 million to $18.2 million. By the end of 2022, the company plans to open one more facility in Florida, followed by three more at the beginning of 2023.
Cansortium reported on January 6 that in exchange for the cancellation of unpaid director fees totaling US$162,500, the Company has given certain of its directors a total of 1,354,167 common shares. According to CSE rules, the price at which the Debt Shares are being issued is equal to $0.12, the closing market price of the Company’s common shares listed on the CSE on December 30, 2022.
CNTMF Stock Performance
On February 17th, CNTMF stock finished at $0.122, down 9.63% in the past month of trading. The stock is now trading in a 52-week price range of $0.1040-$0.6210 and is up 9.12 percent year to date.
[Read More] 3 Marijuana Stocks To Watch In The Stock Market 2023
Finding Short-Term Investments With Penny Pot Stocks
Finding the top cannabis companies on the market might be made simpler by looking at their financials and press releases. Numerous seasoned investors are aggressively trading short-term positions in the top cannabis companies in order to benefit from the current market volatility. Use chart patterns and technical indicators to ascertain the ideal entry points and take-profit zones prior to establishing a position. You can increase your capacity for successful trade closure by actively seeking out favorable opportunities. These can be some of the top pot penny stocks to watch in 2023, given the high volatility of the best US marijuana stocks.
MAPH Enterprises, LLC | (305) 414-0128 | 1501 Venera Ave, Coral Gables, FL 33146 | new@marijuanastocks.com
