Top Cannabis Penny Stocks Under $4
The stock market is showing significant concern with the Fed meeting and its affecting top marijuana stocks this week. In 2021 the best cannabis stocks to buy have been negatively impacted by the delays on Capitol Hill with federal cannabis reform. After reaching new highs in the first quarter this year pot stocks have spent the rest of the year losing value in the market.
Now in December, many top marijuana stocks are trading near the lowest values seen this year. For new investors, this could be a good time to make a watchlist of cannabis stocks that could produce some upside for 2022. One-way investors are taking advantage of these lower pot stock prices is by trading top marijuana penny stocks. Penny stocks are any stocks trading under the $5 stock price.
In general, this area of the market is known for having substantial volatility and is considered a higher-risk trade. Because of this many investors prefer trading them on a short-term basis using day trading and swing trading techniques to produce profits. These active traders can establish larger positions with less capital and see gains from smaller movements in the penny stock price.
Penny Stocks And Short Term Trading For Gains
Although these are higher risk-reward investments, they can produce significant gains in a short period of time. Some of these penny stock trades can last only a matter of minutes to a couple of days. Before investing in penny pot stocks, it’s important to do your due diligence on the companies. Researching a company’s earnings and studying how a stock moves in the market can help you establish the best returns on your trades. As we close out 2021 let’s look at 2 top marijuana penny stocks for your list right now.
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Best Cannabis Penny Stocks For Watchlist Before 2022
- IM Cannabis Corp. (NASDAQ: IMCC)
- Planet 13 Holdings Inc. (OTC: PLNHF)
IM Cannabis Corp.
IMC is currently a global player in the medical and adult-use recreational cannabis industries, with operations in Israel, Germany, and Canada. The company, which is based in Israel, has made the IMC brand a standard in the Israeli medical cannabis market. IMC is expanding its operations to include services for the medical cannabis market in general. Adjupharm, a German-based subsidiary, and EU-GMP-certified medicinal cannabis distributor represents the company in the European market. The corporation also announced the completion of a state-of-the-art logistics center in Germany, which is particularly significant. In the long run, this facility will allow Adjupharm to optimize its supply chain, including bulk cannabis repackaging.
On December 7th IMC launched WAGNERS Brand in Germany and is bringing a premium indoor-grown Canadian cannabis to the country. The company announced a relationship with cbdMD Inc. in the third quarter to launch cbdMD products in Israel. In addition, IMC reported third-quarter 2021 earnings on November 15th, with revenue of $14.4 million, up 30% from Q2 2021. In specifics, the gross margin increased to 20% and is predicted to continue to rise until 2022. Now, at the start of the third quarter, the company is beginning shipments as well as further agreements to ensure the flow of EU-GMP supply.
IMCC stock is trading at $3.21 on December 14th down 13.16% in the past five trading days. The stock has a 52-week price range of $1.684-$11.63 and is up 46.34% in the last six months. According to analysts at CNN Business IMCC stock has a 12-month median price target of $7.31 per share. In this case, this would represent an upside of 92.35% from its last trading price.
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Planet 13 Holdings Inc.
Planet 13 announced the grand inauguration of its Orange County superstore earlier this year, which is now California’s largest dispensary complex. The company is headquartered in Nevada, and its cultivation, production, and dispensary activities on the Las Vegas strip have won awards. Planet 13 is known for its larger-than-life Superstore dispensary on the Las Vegas strip, which is housed in a 112,000 square foot facility. Planet 13’s two superstore dispensaries are reported to be the world’s largest at the moment. In addition, the Medezin shop, a smaller version of the company’s main store, has been formed, which incorporates the larger store model into a compact dispensary.
In November Planet 13 delivered its third-quarter 2021 results with revenue of $33 million up 45% year over year. Additionally, the company reported a Q3 2021 Adjusted EBITDA of $3.5 million. As a result, gross profit before adjustments was $17.6 million of 53.5% of revenue. The company sustained a net loss of $10.2 million compared to a net profit of $0.2 million in Q3 2020. The company expects to launch Tinley’s products with a selection of cannabis-infused beverages. Also, important Planet 13 completed the acquisition of a Florida Cannabis License.
PLNHF stock closed on December 14th at $3.1225 down 14.86% in the past five trading days. The stock has a 52-week price range of $3.02-$8.67 and is down 43.70% year to date. According to analysts at CNN Business PLNHF stock has a 12-month median price target of $6.50 per share. In this case, this would represent an increase of 106.35% from its last trading price of $3.1225. As the cannabis sector trades near this year’s lows, these could be cannabis penny stocks for your watchlist this week.
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