Top Marijuana Stocks For September 2022
Do you intend to invest in marijuana stocks in September 2022? Many cannabis investors are actively trading top cannabis penny stocks to profit from price fluctuations caused by the current market volatility. Penny stocks are any stocks that are traded for less than $5. Active traders typically profit from the high price volatility in these marijuana stocks to gain a short-term competitive edge. Many investors regularly use day trading and swing trading tactics with marijuana penny stocks to generate returns.
By 2022, the market value had significantly decreased due to US federal cannabis legalization delays, and Canadian LPs are now having trouble making a profit. Since they trade on the main US stock markets, investors continue to be interested in Canadian cannabis companies. Because of this, any industry momentum may originate with Canadian cannabis companies before expanding to the rest of the market. Let’s take a closer look at three 2 of the top Canadian marijuana stocks from your September list.
[Read More] Best Cannabis Stocks To Watch For Q4 2022
Top Canadian Cannabis Stocks To Watch Now
- Aurora Cannabis Inc. (NASDAQ: ACB)
- Agrify Corporation (NASDAQ: AGFY)
Aurora Cannabis Inc.
A Canadian business called Aurora Cannabis Inc. cultivates and exports medical marijuana to foreign countries. The company entered the US cannabis industry by acquiring Reliva, a company that manufactures CBD there. Three additional San Rafael ’71 cultivars have been added to the Aurora stock. Aurora exported marijuana worth $8 million to Israel. The company is now concentrating on balancing its books after delivering the first batch of cannabis to the French medicinal cannabis pilot program. The company expanded its market dominance in Germany when it opened its first production and manufacturing plant with EU-GMP accreditation in May.
Aurora continued to dominate Canadian LP in high-margin overseas medical sales when it released its third quarter fiscal 2022 results in May. Net sales of medical marijuana totaled $39.4 million, an increase of 8% over the prior year. Net cannabis sales increased by $50.4 million in the third quarter of 2022, a 17 percent decrease from the second. Adjusted EBITDA losses decreased from $20.9 million in the second quarter to $12.3 million in the third. The company now has a strong balance sheet and has previously repurchased $141.4 million in convertible notes. Aurora Cannabis paid $20 million to repurchase convertible notes in June. The company will release its Q4 and full fiscal 2022-year results on September 20th.
ACB stock closed at $1.62 on August 29th up 14.89% in the last month of trading. Currently, the stock has a 52-week price range of $1.21-$8.69 down 70.06% year to date. According to analysts at CNN Business, ACB stock has a median price target of $2.34 per share. This would be an upside of 43.84% from its last trading price of $1.62.
OrganiGram Holdings Inc.
OrganiGram Holdings Inc., a Canadian business, is well known for its cannabis and cannabis-based products. The business is renowned for producing high-quality marijuana that can be used for both therapeutic and recreational purposes. Organigram is expanding its most important foreign contacts in order to solidify its position in the global cannabis business. The market for delivery of wholesale cannabis is expanding quickly for the organization. SHRED’ems Gummies, the premium addition to Organigram’s SHRED product line, is now available. The Edison JOLTS are also the first tasty, powerful THC edible extracts in the country.
In July, the company released its financial 2022 third-quarter results. From Q3 F2021 to Q3 F2021, the gross revenue climbed by 90% to $55.2 million. Additionally, the company’s net sales have reached $38.1 million, the greatest level is ever seen by the company, as they are growing at a record rate. This represents an increase of 20% from Q2 Fiscal 2022 and an increase of 88 % from the $20.3 million and $31.8 million of the prior-year quarter. In the third quarter of fiscal 2022, the company rose to third place among Canada’s licensed producers with a 7.8% market share. In June 2022, the Company will hold an 8.5 percent market share for adult recreational consumption.
OGI stock closed at $1.11 on August 29th up 1.83% in the past five trading days. The stock has a 52-week price range of $0.90-$2.78 and is down 36.57% year to date. According to analysts at CNN Business OGI stock has a 12-month median price target of $2.02 per share. In this case, this would represent an upside of 82.44% from its last trading price of $1.11.
Making Better Investments When Trading Pot Stocks
When attempting to determine the industries with the greatest potential, reviewing a company’s financial statements and press releases may be of great assistance. Before choosing a position, a company must be carefully investigated. If you get more proficient at using technical indicators and chart patterns, your investing returns may improve. Given the cannabis industry’s rapid local and global expansion, short-term traders may benefit from the current market conditions. During a downturn, you might find it helpful to familiarize yourself with a range of trading strategies. These might be among the best marijuana stocks added to your watchlist in September 2022.
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