To Cannabis Stocks And Different Ways To Invest
Are you looking for marijuana stocks to watch in November? This month we have seen the best cannabis stocks to invest in continue to shed market value this week. In general, most of the cannabis sector has been experiencing declines for the last 10 months. This can be associated with the delays in federal cannabis reform in Congress. In November leading cannabis companies are expected to release earnings that could show more revenue growth this year.
For the most part, leading cannabis companies have been seeing increased sales as the demand for cannabis increases. According to a recent BDSA report, global cannabis sales are forecast to reach $31 billion in 2021. By 2026 this is forecast to grow to $62.1 billion a compound annual growth rate of more than 15%. For the next five years, the cannabis industry could be one of the fastest-growing markets in the world.
Although the US has not ended federal marijuana prohibition, we still have significant growth on the state level. In addition, across the world cannabis is being expected for medical use in more places and the industry continues to flourish abroad. Currently, there are many ways to gain exposure to the cannabis sector investors are taking advantage of. One way some traders prefer to invest in the cannabis sector is by trading marijuana penny stocks.
Finding The Top Pot Stocks To Buy
In general penny stocks are any stocks trading under the $5 price point. Specifically, marijuana penny stocks are known for having substantial market volatility. Some investors take advantage of this market volatility by using day trading and swing trading methods to secure gains. These investments are considered higher-risk trades that investors usually trade on a short-term basis. Another way investors are investing in the cannabis market is by establishing positions in the global market.
Many companies are growing internationally and could be another way investors can gain exposure to the growing cannabis industry. With most of the cannabis sector currently trading at some of the lowest levels seen in 2021, it could be time to make a list of top pot stocks. By making a list of stocks you can study how a stock performs in the market and establish the best entry point for your investment. Because of the market volatility with cannabis stocks, it’s important to have a trading strategy before starting a position. Let’s look at 2 top marijuana stocks for your list in November 2021.
Top Marijuana Stocks For Your Watchlist In November 2021
Ascend Wellness Holdings, Inc.
At the present time, AWH is a vertically integrated operator with assets in Illinois, Michigan, Ohio, Massachusetts, and New Jersey. Primarily, AWH owns and operates state-of-the-art cultivation facilities, and grows award-winning strains, and produces a curated selection of products. Specifically, the company produces and distributes Ozone branded products. In detail, the company’s cannabis product categories include flowers, pre-rolls, concentrates, vapes, edibles, and other cannabis-related products. As it stands, AWH operates 17 retail locations and sells its products to third-party licensed cannabis retail stores. So far in October, ascend is expanding its vertically integrated footprint in Ohio.
AWH reported its second-quarter 2021 financial with net revenue of $83.4 million up 26.1% sequentially. Overall, the company increased its 2021 full-year net revenue guidance to $330-$350 million. AWH sustained a net loss of $44.9 million in Q2 2021 mainly driven by a $32 million non-cash interest expense related to the company’s IPO completed in May of 2021. In 2021 the company added five new dispensaries year to date with 3 becoming operational in the second quarter. Additionally, AWH announced it has brought legendary brand Lowell Smokes pre-rolls from Lowell Farms Inc. (OTC: LOWLF) to the Massachusetts market. The company is expected to release earnings on November 11th after the market closes.
AAWH stock is trading at $6.98 on November 4th down 6% in the past five trading days. Currently, the stock has a price range of $6.80-$9.21 and is down 25.79% in the last month of trading. According to analysts at CNN Business AAWH stock has a 12-month median price forecast of $16.00 per share. Essentially this would represent an upside of 126.95% from its current trading price.
IM Cannabis Corp.
Next on the list, IMC is a global operator in the medical and adult-use recreational cannabis sector, that supplies products to Israel, Germany, and Canada. Based in Israel, the company has established the IMC brand as a staple in the Israeli medical cannabis market. Recently, IMC has expanded its business to offer services to the medical cannabis industry. In general, the company operates in the European market through Adjupharm, a German-based subsidiary, and EU-GMP-certified medical cannabis distributor. The company announced the completion of a state-of-the-art logistics center in Germany. Once it’s operating this facility will allow Adjupharm to streamline its supply chain including repackaging of bulk cannabis.
In the third quarter, the company announced a partnership with cbdMD Inc. to launch cbdMD products in Israel. IMC announced its Q2 2021 revenues of $11.1 million a 27% increase from Q1 2021. To highlight, the company saw an adjusted EBITDA loss for Q2 2021 of $5.8 million. The company is expecting significant revenue growth in the third quarter of 2021 from growth in Germany. Now, the company is resuming shipments at the start of the third quarter as well as the additional agreements to ensure the flow of EU-GMP supply.
IMCC stock is trading at $2.28 on November 4th down 14.18% in the past five trading days. The stock has a 52-week price range of $1.28-$11.63 and is down 65.04% in the last six months. According to analysts at Tip Ranks IMCC stock has a 12-month average price target of $8.09 per share. In this case, this would represent an upside of 253.28% from its last trading price. As the global cannabis industry continues to grow IMCC stock could be a top marijuana stock watch this month.
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