Top Marijuana Stocks 2nd Week Of April
Do you plan on buying marijuana stocks in 2023? Trading cannabis penny stocks is one-way cannabis investors are using the present slowdown in the cannabis industry. To be clear, a penny stock is any stock that trades for less than $5. Despite the marijuana industry’s well-known high level of market volatility, short-term investors can still anticipate making large profits.
It is projected that the marijuana sector will continue to grow in the years to come, as it has in recent years. Many individuals think marijuana has a lot of medical and recreational purposes, and it might grow into a highly profitable industry. Congress is currently delaying the federal cannabis reform and SAFE Banking laws, which impact the cannabis business.
Yet given that the marijuana market is anticipated to expand at a compound annual growth rate of at least 25% through the year 2030, many investors are looking for investment opportunities. Commercial prospects are expanding for new and established businesses as more states and nations decriminalize or legalize cannabis. This is highly pertinent in light of President Biden’s announcement in October 2022 of marijuana changes that could indicate moves toward federal decriminalization of cannabis.
The U.S. cannabis industry is one sector that will expand significantly. Investors can profit from the market’s momentum by utilizing the sector’s rebound. Below is a list of the top two marijuana stocks under $2 to watch in April.
[Read More] 2 Top Marijuana Stocks For Cannabis Investing 2023
Best Marijuana Penny Stocks To Watch In April
- TerrAscend Corp. (OTC: TRSSF)
- Glass House Brands Inc. (OTC: GLASF)
TerrAscend Corp.
TerrAscend cultivates and sells marijuana in the United States and Canada for medical and recreational purposes. The business operates in Pennsylvania, New Jersey, and California and is a significant cannabis grower in the US. Production and sales of artisan cannabis items and hemp and cannabis-infused goods are the company’s main objectives. Under the Kind Tree brand, TerrAscend has produced a range of goods in Maryland. The Kind Tree brand’s product line, now cultivated in Maryland using 15 different flower varietals, will soon include vapes and half-gram pre-rolls.
TerrAscend reported a record fourth quarter 2022 net revenue of $69.0 million in March, up 50.3% year over year and 4.2% sequentially. The gross profit margin was also 44.6%, down from 49.1% in the fourth quarter of 2021 and 47.0% in the third quarter of 2022. A $2.0 million GAAP net loss from continuing operations was reported, as opposed to net losses of $1.2 million in Q4 2021 and $300.6 million in Q3 2022. Moreover, net revenue for the entire 2022 fiscal year increased by 27.6% to $247.8 million. In 2021, net income was $15.7 million; in 2099.4 million GAAP Net Loss from Continuing Operations. For the Company’s Michigan operation in 2022, a $311.1 non-cash impairment charge was recorded against goodwill and intangibles.
TRSSF Stock Performance
TRSSF stock closed at $1.44 on April 11th, down 7.01% in the past month of trading. Currently, the stock has a 52-week price range of $1.00-$5.89 and is up 27.43% year to date. According to analysts at CNN Business, TRSSF stock has a 12-month average price target of $2.13 per share. In this case, this would represent an upside of 47.70% from its last trading price of $1.44.
[Read More] Best Ancillary Cannabis Stocks April 2023
Glass House Brands Inc.
Glass House Brands Inc., a vertically integrated hemp and cannabis firm, provides services to one of the fastest-growing industries in the nation. The business focuses on the California market, developing innovative, eco-friendly brands to meet customers’ needs in various industries. Forbidden Flowers, Glass House Farms, and Mama Sue Wellness are a few of the company’s well-known products. 
Glass House released its full-year 2022 results with record fourth-quarter revenue of $32.2 million, up 14% sequentially. In addition, gross profit increased to $10.2 million from Q4 2021’s $(0.4) million and Q3 2022’s $8.7 million. The gross margin varied between 2% in Q4 2021 to 31% in Q3 2022. Net revenues for 2022 climbed by 31% to $90.9 million from 2021, mostly due to the company’s new California Farm’s increased wholesale biomass production and sales and the expansion of its retail reach. Adjusted EBITDA was $(2.6) million as opposed to $(9.1) million in Q4 2021 and $(2.7) million in Q3 2022.
Net revenues for 2022 climbed by 31% to $90.9 million from 2021, mostly due to the company’s new California Farm’s increased wholesale biomass production and sales and the expansion of its retail reach. Our retail sales increased by 23% from 2021 to $26.7 million because of the additional revenue from the four retail outlets we acquired in the third quarter. The company forecasts $27 million to $29 million in revenue for the first quarter of 2023. The decline vs. Q4 22 is being driven by the seasonal reduction in biomass production due to lower sunlight levels in Q1 compared to Q4 and our expectation that CPG sales will fall by up to 20% as a result of the persistently challenging retail environment and shipping holds being placed on non-paying retailers.
GLASF Stock Performance
GLASF stock ended at $2.95 on April 10th, down 5.14% in the last month’s trading. Currently, the stock has been trading in a 52-week range of $1.78-$5.24. GLASF stock is up 54.45% year to date.
[Read More] Top Marijuana Stocks To Watch 2nd Week Of April
Short-Term Trading Top Pot Stocks For April
Since investors are required to make quick decisions based on incomplete information and are vulnerable to fluctuations in the market or unexpected news, both day trading and short-term trading can be dangerous. These trading strategies also call for significant experience and expertise, as well as trading platforms, real-time market data, and other resources.
It may be easier to identify the top cannabis companies by looking at their financials and press releases. To profit from the current market volatility, a number of seasoned investors are actively trading short-term positions in the top cannabis companies. Use technical indicators and chart patterns to identify the best entry points and take-profit areas before establishing a position. By systematically looking for advantageous setups, you can increase your ability to execute trades profitably. The best marijuana stocks may be among the most fascinating to follow in 2023 due to their propensity for volatility.
MAPH Enterprises, LLC | (305) 414-0128 | 1501 Venera Ave, Coral Gables, FL 33146 | new@marijuanastocks.com
