Penny Stocks In 2021 And The Cannabis Sectors Decline
As the best marijuana stocks to buy continue to decline in the market are you looking for short-term gains? One way some investors are taking advantage of this drop in top cannabis stocks is by trading marijuana penny stocks. In 2021 cannabis penny stocks rallied in the first quarter delivering significant gains for investors. Since then, they have seen substantial drops in market value as the year has progressed. For the most part, cannabis penny stocks are known to be a high-risk area of the market.
In general, substantial market volatility creates significant price fluctuations that some traders take advantage of to produce gains. Specifically, investors use day trading and swing trading to produce short-term gains in the market. Overall penny stocks are securities that trade under the $5 stock price and investors use these lower levels to establish larger positions with less capital. Essentially, they can produce a profit with smaller moves in price action.
As top penny pot stocks continue trading at these lower levels they could be primed for a bounce in the market. One important catalyst that cannabis investors are hoping for is federal cannabis reform and legalization. With the Senate delays on prospective cannabis bills, many investors are not expecting marijuana reform until 2022. Because of this, we could see further declines in some of the best pot stocks to buy in November.
Finding The Best Cannabis Penny Stocks To Trade In 2021
Making a watchlist of top marijuana penny stocks is one way to keep track of how a stock performs in the market. Essentially keeping an eye on how a penny stocks move can help you establish the best entry for trade. This could result in higher profits from your positions in penny stocks. Additionally, looking into a company’s earnings and press releases can also help you narrow down the list of cannabis penny stocks to watch.
[Read More] Top Marijuana Stocks You May Want On Your November Watchlist
At the present time, there are many marijuana penny stocks that are trading under the $1 stock price. Some of these penny stocks could produce some upside once the cannabis sector begins to recover. As we continue to see the cannabis sector decline these could be top cannabis penny stocks for your watchlist in November.
Top Marijuana Penny Stocks To Watch Under $1
- MariMed Inc. (OTC: MRMD)
- Lowell Farms Inc. (OTC: LOWLF)
MariMed Inc.
At the present time, MariMed Inc. is a cannabis multi-state operator that is developing its own brand state-licensed cannabis facilities and dispensary operations. In general, the company develops and manages seed to sale state-licensed cannabis facilities. MariMed has an experienced management team producing consistent growth and success for its managed business units. The company’s technicians’ names are embedded in its top-selling and award-winning products and brands, including Betty’s Eddies®, Nature’s Heritage™, Bourne Baking Co., and Kalm Fusion®.
In August MariMed reported strong second-quarter 2021 earnings with revenue of $32.6 million up 239% year over year. Specifically, the company delivered a gross profit of $19.4 million a gain of 215% from Q2 of 2020. In addition, the company reported an Adjusted EBITDA of $13.9 million up 391% year over year. As a result, the company increased its 2021 guidance for revenue of $100-$118 million. Now the company is also including guidance for Adjusted EBITDA of $42 million. The company will announce its third-quarter 2021 results on November 15th after the market close.
MRMD stock is trading at $0.80 on November 2, 2021, up 7.16% in the last five trading days. The stock has a 52-week price range of $0.141-$1.20 and is up 72.34% year to date. According to analysts at CNN Business MRMD stock has a 12-month median price target of $2.25 per share. In this case, this would represent an upside of 177.78% from its current trading price.
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Lowell Farms Inc.
Lowell Farms Inc is a company establishing a large presence in the California cannabis market. In general, the company has advanced production capabilities, grows artisan craft cannabis, and built a portfolio of award-winning licensed cannabis brands for cannabis consumers. Recently, the company established a licensing agreement with Ascend Wellness Holdings. In detail, the two companies will bring the Lowell Smokes brand to dispensary locations in Massachusetts and Illinois. Additionally, the company announced its iconic Lowell Smokes pre-roll packs will be available in Illinois. Now, Lowell Smokes will be available to Illinois consumers throughout 8 retail locations in the state.
Lowell Farms reported record cultivation output and record second-quarter 2021 revenue of $15.2 million. Overall, the company sustained an operating loss of $473 thousand an improvement from the $.8 million loss in Q2 2020. Lowell produced gross margins of 38% Lowell Farms announced it is commissioning a first of its kind cannabis processing facility in Salinas Valley, California. This facility will be capable of processing 250,000 lbs. of flower cannabis annually. In September the company debuted a limited-edition Hash Wrap at the Hall of Flowers trade show.
LOWLF stock closed on November 2nd at $0.781 down 24.74% in the past month. Currently, the stock has a 52-week price range of $0.7410-$2.149 and is down 29.82% year to date. At the present time, LOWLF stock is down 28.37% from its 100-day moving average. With these stocks trading at these lower levels they could be the top cannabis penny stocks for your list in November.
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