Top Marijuana Stocks As Market Volatility Continues
Are you preparing to buy marijuana stocks in 2023? Selling cannabis penny stocks is one-way cannabis investors capitalize on the current industry volatility. For the sake of clarity, any stock that is traded for less than $5 is referred to as a penny stock. Despite the well-known high level of market volatility in the marijuana industry, short-term investors could still plan to make significant gains.
The federal cannabis reform and SAFE Banking laws are currently being postponed by Congress, impacting the cannabis market. Following a significant price drop in 2022, the cannabis industry will have a challenging 2023. State approvals have resulted in abundant supply, despite the fact that federal legalization is still uncertain. Despite being historically high, certain areas have seen a recent slowdown in consumption due to economic concerns.
For the next five years, the cannabis industry is expected to increase by more than double. One industry that will experience significant growth is the American cannabis market. Congress is now delaying the federal cannabis reform and SAFE Banking laws, which has negatively impacted the cannabis business. Top cannabis companies may suffer rising volatility if federal cannabis legalization fails on Capitol Hill. Investors can profit from the market’s current momentum by taking advantage of the sector’s recovery. The best two marijuana stocks under $1 to watch in March are listed below.
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Top US Marijuana Penny Stocks For Short-Term Investing
- Acreage Holdings, Inc. (OTC: ACRHF)
- Lowell Farms Inc. (OTC: LOWLF)
Acreage Holdings, Inc.
Cannabis grower and retailer Acreage Holdings, Inc. has outlets throughout the country. Acreage’s collaboration with Canopy Growth Corporation (NASDAQ: CGC) could lead to a purchase if the US embargo is lifted. It is anticipated that the economies of New York and New Jersey will grow significantly during the next several years as a result of their large geographic areas. Acreage plans to finish building its growth center in New Jersey, with most retailers holding licenses.
In comparison to the same period in 2021, acreage sales increased by 28% to $61.4 million in the third quarter of 2022. The company’s gross margin this quarter was 35% compared to the second quarter of 2022. The third quarter of 2022 saw adjusted EBITDA* of $8.8 million compared to Q3 2021’s $6.5 million. Acreage became one of only a few producers in the state of New York with the capacity to supply the market with non-remediated whole flower with the debut of the Company’s whole flower sales under the state’s strict microbiological testing regulations. The company started its adult-use cannabis business in Connecticut on January 10 at The Botanist dispensary in Montville.
ACRHF Stock Performance
ACRHF stock closed at $0.5199 on March 13th, down 18.76% in the last month of trading. The stock has a 52-week price range of $0.41-$2.075 and is up 1.95% year to date.
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Lowell Farms Inc.
California-based Lowell Farms Inc., a well-known cannabis business, is rapidly increasing its market share. Among the organization’s key objectives are the creation of outstanding cannabis brand licensing, artisan craft cannabis growing, and cutting-edge manufacturing methods. In addition, there is a license agreement between the company and Ascend Wellness Holdings. The two companies will collaborate to offer the Lowell Smokes brand to dispensaries in Massachusetts and Illinois. Ascend, and Lowell formally decided to ship Lowell Smokes to Michigan in November. The legendary Lowell Smokes pre-roll bundles will also be accessible in Illinois, the business claims.
Revenue during the third quarter of 2022 was $8.7 million, up 34% from the previous quarter but down 31% from the third quarter of 2021. In addition, the Lowell brand’s sales increased from 66% of CPG sales in the previous quarter to 82% of CPG sales this quarter. Operational losses for the company dropped from $7.0 million and $3.0 million sequentially in the second quarter to $5.2 million in the third. With the exception of a few minor details, the following information is accurate as of the publication date. On January 4th, the company announced that it would launch its award-winning cannabis products in Arizona’s recreational and therapeutic dispensaries.
LOWLF Stock Performance
The shares of LOWLF closed at $0.044 on March 13th, down 32.73% in the last month of trading. The stock is now trading in a 52-week price range of $0.0331-$0.459 and is down 46.89% year to date.
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Short-Term Trading US Penny Pot Stocks
In general, examining their financials and press releases may make it easier to identify the best cannabis companies. Several experienced investors are proactively trading short-term positions in the leading cannabis companies to take advantage of the current market volatility. Before opening a position, use technical indicators and chart patterns to pinpoint the ideal entrance levels and take-profit zones. Also, you can improve your ability to complete successful trades by actively seeking favorable circumstances. Some of the greatest penny stocks to buy might be these US penny stocks.
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