Are Cannabis Stocks A Buy Before October?
Are you looking for marijuana stocks to buy before October? In September the best cannabis stocks to invest in have seen significant market volatility. After an announcement that the house passed the SAFE Banking Act amended to a defense bill, the cannabis sector has seen some upside. Throughout the year federal marijuana legalization and reform have been a major catalyst for pot stocks. In fact, in many ways, it’s been one of the only things that have moved marijuana stocks higher this year.
For the first half of 2021 leading cannabis companies have delivered strong revenue growth and expanded their presence in the market. Unfortunately, from investors, this is not yet translated into gains in the market. Instead for the past seven months, the best marijuana stocks to invest in have experienced the clients have value. One way some investors are taking advantage of the volatility in pot stocks is by using short-term trading methods.
Specifically, day traders and swing traders capitalize off the swings in prices to achieve returns. Top marijuana penny stocks are often traded in this manner because investors could achieve a larger position with less capital. For those investors not familiar with penny stocks these are any stocks trading under the $5 price point. In the first quarter of 2021 penny pot stocks rallied delivery triple-digit percentage gains for traders.
Finding Top Penny Stocks With Potential Upside
Now as the possibility of future upside increases with legislation making its way through Congress the best cannabis penny stocks could produce some short-term gains for traders. Before investing it’s important to do your due diligence and researching the company’s earnings and market performance. This will help you achieve the best returns on your investments. It’s important to remember the marijuana penny stocks are extremely volatile. Because of this penny stocks are considered a higher-risk investment.
[Read More] 2 Top Canadian Cannabis Stocks To Watch In 2021
As we head into October, we could see the cannabis sector begin to rebound in the market. For investors looking for short-term gains, this could be a good opportunity to start a list of penny stocks to watch. Some of these cannabis penny stocks could be ready to see upside with Congress passing marijuana banking reform. Let’s look at 2 top marijuana penny stocks for your list right now.
Top Marijuana Stocks For Your Watchlist Before October 2021
Jushi Holdings Inc.
Jushi Holdings Inc. a cannabis and hemp company that is expanding its presence in the medical and recreational cannabis markets across the US. Primarily, the company is building a portfolio of branded cannabis and hemp-derived assets across the US. At the present time, Jushi operates 22 dispensaries under the BEYOND/HELLO brand. Recently, Jushi opened the 15th Beyond/Hello in Pennsylvania. Additionally, Jushi has 31 retail licenses in the US, and its national brand of cannabis dispensaries Beyond/Hello continues to see growth online and in-store.
In August Jushi reported its second-quarter 2021 results with revenue of$47.7 million up 14.6% sequentially. Specifically, the company delivered a net income of $4.8 million and an adjusted EBITDA of $4.6 million. As a result, Jushi saw gross profits of $21.9 million and an increase of 193.7% year over year. In August the company announced the upcoming launch of branded cannabis products in the commonwealth of Virginia. Jushi will debut its brand The Lab, vaporizable cartridges, and Tasteology its chewable line. The company also plans to launch two flower brands as well. On September 14th Jushi announced the upcoming launch of flower brands The Bank and Seche to Virginia patients.
JUSHF Stock Performance
JUSHF stock is trading at $4.24 on September 24th down 11.34% in the last month. The stock has a 52-week price range of $2.29-$9.06 and is down 26.62% year to date. According to analysts at Tip Ranks JUSHF stock has a 12-month average forecast price target of $7.43 per share. In essence, this would represent an upside of 74.91% from its current trading price.
TILT Holdings Inc.
Next Up, with a focus on the global markets, TILT Holdings Inc. provides business solutions to cannabis companies building their brand on a global platform. At the present time, the company provides its services to countries like the US, Canada, Israel, Mexico, South America, and the European Union. Notably, TILT has a large portfolio of companies that provide technology, hardware, cultivation, and production for other top cannabis companies. The company supplies the U.S. and European medical cannabis markets with medical-grade inhalation devices.
In August TILT reported its second-quarter 2021 results with record revenue of $48.5 million up 33% year over year. Additionally, the company has a record adjusted EBITDA of $6.5 million in Q2. To highlight, the company reiterated 2021 guidance of revenue between $205-$210 million.
Words From The CEO
“Earlier today we announced a historic partnership with the Shinnecock Indian Nation to develop vertical cannabis operations in New York, marking our entrance into what is projected to be one of the largest cannabis markets in the country. I am incredibly excited for both our teams as well as the economic opportunity this will create for the Nation—this is truly what an equitable partnership should look like.”
Gary Santo, CEO of TILT
TLLTF Stock Performance
TLLTF stock is trading at $0.41 on September 24th down 14.75% in the last month. The stock has a 52-week price range of $0.34-$0.75 and is up 41.71% year to date. According to analysts at Market Beat TLLTF stock has a consensus price target of $1.25 per share. In this case, this would represent an increase of 204.1% from its current trading price.