Leading Marijuana Stocks Vs Marijuana Stocks Under a $1
As the cannabis stocks pick up where it left off in November marijuana stocks are showing gains to start December. Currently, cannabis stocks on the global index have gained over 50% in 2020 and continue similar growth potential for 2021. Recently smaller marijuana stocks like Sundial Growers, Inc. (SNDL Stock Report) have seen huge gains this week in the market. In the event, the House of Representatives passes the MORE Act this evening or later this week U.S. marijuana stocks could see another boost in stock price.
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Generally, the cannabis companies that have already established themselves in the U.S. marijuana market will most likely be the first to capitalize off federal legalization. In general, some of the larger MSOs like Green Thumb Industries Inc. (GTBIF Stock Report) could continue their rapid expansion and revenue growth into next year. The company currently has 50 operating dispensaries and could increase that number substantially with a more favorable American cannabis market. As a matter of fact, most of these MSOs are performing well in the latter part of 2020 and could only benefit from less red tape in the states.
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But although these larger marijuana companies are the first to see gains in the stock market, lately the smaller cap pot stocks have been seeing substantial gains as well. In trading, this week investors have turned to marijuana stock investments with a lower price point. This is occurring as most top cannabis stocks continue to break their year-to-date highs and see share price increases on a daily basis. As these marijuana penny stocks show increased share volume and higher stock prices as an investor it could be lucrative to find a couple of marijuana stocks trading under $1 to add to your watchlist.
With this intention, we can explore the companies that performed well in recent revenue reports and have stock pricing that could gain value in December. Being that these companies have a low entry price investors can start a sizable position with a less capital-intensive investment. While this type of investing could have more volatility than the top 5 pot stocks, it could have larger gains in the short term. With this in mind, let’s look at 2 marijuana penny stocks under a $1 with potential in December 2020.
Top Marijuana Stocks To Watch Under $1: 4Front Ventures Corp.
4Front Ventures Corp. (FFNTF Stock Report) is a national multi-state cannabis operator and retailer with a market advantage in mass-produced, low-cost branded cannabis products. Currently, the company distributes a portfolio of over 25 cannabis brands through its well positioned Mission brand dispensaries. 4Front released its 3rd quarter 2020 financials showing Systemwide Pro Forma revenue increased 18% quarter over quarter to $22.3 million. Also, this increase is 170% more year over year and 4Front has become cash flow positive from its operations since August. In addition, initial guidance for 2021 with Systemwide Pro Forma is $170-180 million and adjusted EBITDA 0f $40-50 million. In general, the company’s existing projects represent a long-term revenue EBITDA upwards of $650 million and $250 million. Also, the company is finalizing plans to exponentially expand its cultivation and manufacturing in Illinois.
FFNTF stock has recently started trading higher pushing towards that dollar share price. Currently trading at around $0.85 the stock has a high of $0.9270 on the last day of November. Recently analysts have given FFNTF stock a five-year price target of $1.689 a 118% gain from its current share price. But some other predictions have the stock reaching $2.01 in only a year’s time period. For this reason, FFNTF stock is a marijuana penny stock to watch in December 2020.
Top Marijuana Stocks To Watch Under $1: Auxly Cannabis Group Inc.
Auxly Cannabis Group Inc. (CBWTF Stock Report) is an international cannabis company dedicated to high-quality cannabis products for the medical and adult-use markets. The company established itself as a market leader in Cannabis 2.0 products. And its products are achieving a leading market share in Canada. In addition, Auxly is also seeing increasing success with its dried flower product offering. Recently the company released 3rd quarter 2020 financials showing total net revenue of CA $13.4 million in Q3. In fact, this is an increase of 85% sequentially. Also, Auxly strengthened its cash position by $20 million, and revenue increased showing a substantial change from prior quarters.
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CBWTF stock is below the $1 trading mark around $0.2263 with a YTD high of $0.585 in January of 2020. Recently analysts gave CBWTF stock a target price of $0.31 an increase of almost 37% from its current stock price. But as the growth of Cannabis 2.0 continues increasing revenue in Canadian companies like Auxly the potential for gains increases. For this reason, CBWTF stock is a marijuana penny stock on the watchlist for December 2020.
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