Top Cannabis Stocks To Watch For Volatility
Do you want to buy the top marijuana stocks before December? This week’s market gains were related to Core CPI and PPI numbers that exceeded expectations. As a result, top marijuana penny stocks experienced some gains. By making short- and long-term investments based on current market values, you could increase the size of your portfolio. In a market like this, day traders and swing traders typically make the highest profits. Some long-term investors choose to use short-term trading tactics in addition to their long-term investments in the cannabis industry. They benefit from daily changes in the stock’s price as a result.
In an effort to profit from the current volatility, many cannabis investors are actively trading marijuana stocks using short-term trading techniques. The current market values of many of the biggest cannabis businesses are comparable to those of penny stocks. Any shares of stock with a price of under $5 are referred to as penny stocks. They are renowned for their high volatility and the huge daily price swings they are capable of.
As the possibility of federal cannabis regulation grows closer, it might be time to start paying attention to the cannabis stocks that are rising in popularity. We’ll examine three of the top marijuana stocks on your list in more detail this week because higher market volatility is predicted for November 2022.
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Top Marijuana Stocks To Watch Before December
- Acreage Holdings, Inc. (OTC: ACRHF)
- MariMed Inc. (OTC: MRMD)
Acreage Holdings, Inc.
Cannabis grower and retailer Acreage Holdings, Inc. operates locations around the US. If the US ban is repealed, Acreage’s partnership with Canopy Growth Corporation (NASDAQ: CGC) could result in a purchase. Due to their vast geographic areas, it is projected that the economies of New York and New Jersey would expand significantly during the coming years. Where it presently has the most licensed locations, New Jersey, Acreage intends to complete the construction of its growth facility there. On May 3, Acreage was successful in selling an adult-use retail company in Oregon that included processing and growing facilities.
Acreage produced results for the third quarter of 2022 with sales of $61.4 million, a 28% increase from the previous year. In comparison to the second quarter of 2022, the company’s gross margin was 35% this quarter. In comparison to the third quarter of 2021, when adjusted EBITDA* was $6.5 million, it was $8.8 million in Q3 2022. The debut of the Company’s whole flower sales under the state’s stringent microbiological testing rules made Acreage one of just a handful of producers in the state of New York with the ability to provide the market with non-remediated whole flower.
ACRHF stock closed at $1.00 on November 16th up 61.29% in the past month of trading. The stock has a 52-week price range of $0.465-$2.24 and is down 40.48% year to date.
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MariMed Inc. has grown into a multistate cannabis business with a strong network of retail locations. From seed to sale, the business constructs and manages state-licensed cannabis facilities. MariMed’s management group has a proven track record of achievement in its managed business divisions. Betty’s Eddies®, Nature’s HeritageTM, Bourne Baking Co., and Kalm Fusion® are a few of the company’s top-selling and award-winning products and brands. MariMed produced the biggest cannabis-infused brownie in history last year to commemorate the launch of its Buddy Baked brand. The business was acknowledged in May for producing the biggest cannabis brownie ever. In March, the company bought a dispensary in Beverly, giving it a second retail location in Massachusetts.
MariMed delivered its third quarter 2022 results with revenue of $33.9 million. In addition, the company revised the 2022 full-year guidance to $132 million to $135 million. Also, the gross margin is estimated to be 48% to 49% for the full year 2022. It will be the company’s sixth dispensary with an Illinois location operating under the Thrive brand when it opens. The business introduced award-winning brands to the Michigan adult-use cannabis market in September.
Words From The Ceo
“Our financial results remain some of the best in the industry, as we have improved gross margins and delivered positive adjusted EBITDA for the eleventh consecutive quarter.”
Susan Villare, Chief Financial Officer.
MRMD stock closed at $0.54 on November 16th down 2.70% in the last month. The stock has a 52-week price range of $0.40-$0.94 and is down 37.57% year to date. According to analysts at Tip Ranks the stock has a $0.84 average price target this would represent an upside of 55.56% from its last trading price of $0.54.
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Short-Term Trading Marijuana Penny Stocks In 2022
These top cannabis stocks reached new lows in November; when they start to recover, investors might find value in the stocks. If you want to determine whether an asset is a good fit for your trading strategy and portfolio, you can look at a company’s financial statements and most recent press releases. Making better trading decisions can be aided by an understanding of technical indicators and chart patterns. These penny pot stocks might be among the best to watch before December.
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