Top Cannabis Stocks To Watch As Market Volatility Increases
Are you looking for the best marijuana stocks to invest in for 2022? As the 3rd week in January trading begins investors are preparing for some volatility in the overall markets. This year most of the cannabis sector is trading near new lows established in recent trading. Currently, there is one major factor that has brought down top cannabis stocks and it mostly relates to federal marijuana legalization and reform.
Another factor that reduced the cannabis sector’s value is a decline in sales during the summer and the fourth quarter of 2021. Now that the best pot stocks seem to have priced in the delays with federal cannabis reform it could be time to find marijuana stocks for 2022. In the US the cannabis industry has experienced significant growth since the beginning of the pandemic. Many leading companies have expanded rapidly across the growing US market as more states make cannabis legal.
In general, this growth slowed some in the latter part of 2021. But a recent improving sales trend could be signaling a reversal to the slowdown in cannabis demand. In December cannabis sales in states like Michigan grew significantly in the adult-use segment of the state. This sales trend can be seen in many of the new states that recently opened adult-use cannabis sales.
Taking Advantage Of Price Swings In Top Pot Stocks
One way to take advantage of the increasing market volatility is by trading marijuana penny stocks. For those not familiar with penny stocks these are any stocks that trade under the $5 benchmark. In general, this area of pot stocks is known for significant price fluctuations and many active traders prefer to trade cannabis penny stocks on a short-term basis. In general, active traders use day trading and swing trading techniques to produce gains trading penny stocks. Although these trades are considered higher risk-reward investments, they can produce gains in this type of market environment.
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Before investing in top cannabis penny stocks, it’s important to always do your own due diligence on a company. Researching a company’s finances and press releases can allow you to find the best-performing companies in a sector. In addition, following how a penny stock moves in the market can allow you to establish the best entry levels for your positions. As we start a new week of trading for pot penny stocks let’s look at 2 top marijuana stocks for your watchlist in January 2022.
Best Marijuana Penny Stocks For Your Watchlist This Month
- Jushi Holdings Inc. (OTC: JUSHF)
- Planet 13 Holdings Inc. (OTC: PLNHF)
Jushi Holdings Inc.
Jushi Holdings Inc. is a cannabis and hemp corporation with a growing presence in the medicinal and recreational marijuana sectors in the United States. The company’s main goal is to build a portfolio of branded cannabis and hemp-derived products aimed at the US market. Under the BEYOND/HELLO brand, Jushi runs 28 dispensaries in the United States. Jushi also has 31 retail licenses in the United States, and Beyond/Hello, its national cannabis dispensary brand, is expanding both online and in-store. In October, Sunstream Bancorp Inc. provided the company a $100 million buy facility. Additionally, in Virginia, the company launched its second retail outlet.
In November, Jushi reported $54 million in revenue for the third quarter of 2021, up 116.7 percent year over year. The company’s net income increased from $68.2 million to $38.2 million. In addition, Jushi’s Adjusted EBITDA improved by 124.9 percent to $6.4 million in Q3 2020. As a result, the company’s gross profit climbed by 99.6% to $24.5 million year over year. In Virginia, the company also debuted new branded cannabis products. Jushi will debut its vaporizable cartridges as well as its chewable brand Tasteology under the moniker The Lab. Jushi increased its Nevada presence in the third quarter by selling flowers in Virginia. Jim Cacioppo, the company’s CEO, Chairman, and Founder purchased shares on January 10th.
JUSHF Stock Performance
JUSHF stock closed at $4.05 on January 14th up 7.34% for the last five trading days. Currently, the stock has a 52-week price range of $3.03-$9.063 and is up 19.47% in the past month of trading. According to analysts at Tip Ranks JUSHF stock has a 12-month average price target of $8.57 per share. In this case, this represents an upside of 111.71% from its last trading price of $4.05.
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Planet 13 Holdings Inc.
In 2021, Planet 13 officially opened its Orange County superstore, which is currently California’s largest dispensary complex. The company is based in Nevada, and it has received awards for its cultivation, production, and dispensary operations on the Las Vegas strip. Planet 13 is well-known for its 112,000-square-foot Superstore dispensary on the Las Vegas strip. At the moment, Planet 13’s two superstore dispensaries are said to be the world’s largest. The Medezin shop, a smaller replica of the company’s main store that integrates the larger retail structure into a tiny dispensary, has also opened.
Planet 13 reported $33 million in revenue for the third quarter of 2021 in November, up 45 percent year over year. In addition, the company achieved $3.5 million in Adjusted EBITDA in the third quarter of 2021. As a result, gross profit before adjustments was $17.6 million, or 53.5 percent of revenue. The corporation lost $10.2 million in the third quarter of 2021, compared to a profit of $0.2 million the previous quarter. Tinley’s goods will be offered as a line of cannabis-infused beverages, according to the business. Planet 13 also completed the necessary steps to get a Florida Cannabis License. The company announced the acquisition of Next Green Wave Holdings in December, allowing it to grow its position in California by offering premier indoor production.
PLNHF Stock Performance
On January 14th, PLNHF finished at $3.29, up 6.47% in the previous five trading days. With a 52-week price range of $2.874-$8.67, the stock has dropped 46.50 percent in the last six months. According to CNN Business experts, the stock of PLNHF has a consensus price objective of $6.50 per share. This represents a 97.56 percent increase over the previous trade price of $3.29. As market volatility increases these could be some of the best marijuana penny stocks for your list right now.
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