Best Cannabis Stocks For Short Term Traders
Are you looking for top marijuana stocks to buy in 2022? As top cannabis stocks begin the year showing their market volatility investors are looking for a way to take advantage of this recent action. Last year in the first quarter one area of the cannabis sector that saw significant upside is marijuana penny stocks. For those investors not familiar with penny stocks these are any stocks that trade under the $5 threshold.
In general penny stocks is a high-risk reward area of the market. Because of this many active traders prefer investing in cannabis penny stocks using short-term trading strategies like day trading and swing trading. In January 2022 top pot stocks are entering the year trading near their 52-week lows. For active traders, this could be a good opportunity to find marijuana penny stocks at lower trading levels.
In general, the decline in the cannabis sector is directly related to delays with US federal marijuana legalization and reform. Now that most cannabis stocks could have already priced in the delays many top cannabis stocks could begin trading on earnings fundamentals and company performance to start the year. Another catalyst could come from the US Congress as far as federal cannabis reform, but it seems investors are no longer betting on that.
Finding The Best Pot Stocks For Short Term Gains
Before investing in top cannabis stocks, it’s important to do your research on a company. Looking into a company’s earnings and press releases can help you find the best-performing companies. Additionally learning how to follow stocks in the market to find the best entry point for your investment can help you become a successful trader. Learning how to read chart patterns and using investing tools are some of the ways traders can produce gains on short-term trades.
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One area that sustained substantial downside in 2021 is Canadian cannabis stocks. This is because they have been planning their entry into the US cannabis market once they are legally able to. In the meantime, many of these leading Canadian companies have already made acquisitions in the states and have also established CBD sales in the US. As we continue to see many top pot stocks begin this week with some volatility let’s look at 2 top Canadian marijuana penny stocks for your list this week.
Top Canadian Cannabis Penny Stocks For Your Watchlist In January
- OrganiGram Holdings Inc. (NASDAQ: OGI)
- Neptune Wellness Solutions Inc. (NASDAQ: NEPT)
OrganiGram Holdings Inc.
OrganiGram Holdings Inc. is well-known licensed cannabis and cannabis-based product company in Canada. The company is known for producing high-quality, indoor-grown marijuana for both medicinal and recreational use. To increase its position in the worldwide cannabis industry, Organigram is also strengthening its international business relationships. The business is currently extending its wholesale cannabis delivery and online sales. SHRED’ems Gummies is a high-quality addition to the SHRED product range from Organigram. Edison JOLTS are also Canada’s first flavored high-concentration THC ingestible extracts. Since July 2020, OrganiGram has produced 84 new SKUs to refresh its product portfolio.
In Q3, two new high-potency strains were released under the Edison brand, which has a greater profit margin. According to the company’s fourth-quarter and fiscal 2021 reports, Q4 net sales were $24.9 million, up from $20.4 million in Q4 fiscal 2020. In addition, in Q4 Fiscal 2021, the adjusted gross margin was $3 million, or 12 % of net revenue. The corporation currently has a net loss of $26 million, down from $38.6 million in the same period the previous year. Sales in the first quarter of fiscal 2022 are expected to be higher than in the fourth quarter of fiscal 2021, according to Organigram. In December the company made an additional investment in Hyasynth Biologicals a leading cannabinoid biosynthesis company bringing its total investment into the company $7.5 million. Organigram will release its first-quarter fiscal 2022 results on January 11th.
OGI Stock Performance
OGI stock closed on January 4th at $1.72 down 6.01% for the trading day. The stock has a 52-week price range of $1.51-$6.45 and is down 37% in the last six months. According to analysts at CNN Business OGI stock has a 12-month median price target of $2.31 per share. In this case, this would represent an upside of 34.58% from its last trading price of $1.72.
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Neptune Wellness Solutions Inc.
Neptune Wellness Solutions Inc. has completed its conversion to a fully integrated consumer packaged goods company. The company will launch a range of CBD beverages in the United States, including CBD-infused flavored teas and lemonades. Neptune is transitioning from a B2B cannabis and hemp extraction company to a broad consumer products company. With a new focus on consumer products, the firm now sells cannabis, nutraceuticals, cosmetics, and personal care, and organic food and beverage items. In October, the company promoted Jessica Adkins to Senior Vice President of Corporate Communications. Neptune’s expanded its Mood Ring product range in December, offering Pre-rolls in Ontario and Alberta.
Neptune acquired a supply deal with Alberta Gaming, Liquor, and Cannabis earlier this year, boosting the company’s footprint in Canada to over 1600 outlets. As a result, the company’s Mood Ring and PanHash brands can now sell recreational cannabis products in British Columbia, Alberta, Ontario, and Quebec. Neptune reported $15.7 million in sales for the fiscal second quarter of 2022 in November. This is the third quarter in a row that revenue has increased sequentially. The company lost $1.8 million in gross profit, an improvement of $2.9 million over Q3 F21.
NEPT Stock Performance
NEPT stock closed at $0.40 on January 5th down 4.14% for the trading day. The stock has a 52-week price range of $0.3901-$3.60 and is down 64.59% in the last six months. According to analysts at CNN Business NEPT stock has a 12-month median price target of $0.58 per share. In essence, this would be a gain of 45.54% from its current trading price of $0.40.
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