Best Cannabis Stocks Under $1 For April 2023
Are top marijuana stocks on your watchlist for April? The majority of the cannabis industry is trading close to new lows to end the first quarter of 2023 after seeing a considerable fall in the previous two years. In actuality, most cannabis stocks are presently trading at levels comparable to penny stocks. Any share of stock that is sold for less than $5 is referred to as a penny stock. Investors who want to make short-term gains by buying and selling stocks quickly utilize short-term trading and day trading strategies.
It is estimated that the marijuana industry will continue to grow in the years to come, as it has in recent years. Many people believe that marijuana has numerous therapeutic and recreational uses and can potentially be a very lucrative industry. Making brief investments in cannabis penny stocks is one strategy to profit from the market’s downward trend.
Because of the well-known high level of daily and monthly price volatility in cannabis penny stocks, opportunities may arise. Cannabis investors willing to participate in these high-risk/high-reward transactions have benefited from the recent double-digit percentage returns on several equities. Many of the largest American cannabis companies are currently trading for pennies on the dollar. This article will look at the top 3 marijuana penny stocks to add to your watchlist in April.
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Best Performing Marijuana Penny Stocks In April 2023
- StateHouse Holdings Inc. (OTC: STHZF)
- MediPharm Labs Corp. (OTC: MEDIF)
- TILT Holdings Inc. (OTC: TLLTF)
StateHouse Holdings Inc.
StateHouse was formed by combining four forward-thinking legacy enterprises with a long history in California cannabis: Harborside, Loudpack, Urbn Leaf, and Sublime. One of the first six American businesses to be granted a cannabis license was Harborside. The organization, formerly Harborside, now has 13 facilities dispersed across Oregon and California. StateHouse started expanding its presence in California in 2021, and it is anticipated that this pattern will hold in the future. The Salinas growing facility for StateHouse has expanded, enabling year-round production and a crop capacity that has more than doubled.
StateHouse Latest Financial Results
According to StateHouse, third-quarter net revenues reached $30.8 million, up 77% over the second quarter’s total of $17.5 million. The purchases of LPF JV Corporation and UL Holdings Inc. (“Urbn Leaf”) were the primary factors that contributed to the increase in total net sales (“Loudpack”). Together with the inauguration of the Urbn Leaf branded retail dispensary in Grossmont and the Harborside branded retail dispensary in San Francisco’s Haight Ashbury area in April 2022. Before accounting for biological assets, gross profit climbed by 31% to $11.1 million from $8.4 million in the third quarter of 2021. Retail sales accounted for 53.4% of all sales in the third quarter of 2022, up $7.3 million over the same period in 2021.
According to StateHouse, the West Hollywood Urbn Leaf dispensary began operations on January 9. Due to the tremendous cost reductions and increased efficiency, it has already achieved, as well as its financial projections. StateHouse expects its Adjusted EBITDA to be materially positive in 2023. The company said in March that its Dime Bag brand just launched a new line of Liquid Diamond Infused Pre-Rolls in convenient packs of three for a fair experience on the go. The new liquid diamond pre-rolls are available at all 14 of the company’s dispensaries and the California wholesale market.
STHZF Stock Performance
STHZF stock closed at $0.055 on April 6th and has a 52-week price range of $0.040-$0.68. In this case, CNN Business analysts gave STHZF stock a median price target of $0.19 per share. This would represent an upside of 236.56% from its last trading price of $0.055.
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MediPharm Labs Corp.
MediPharm Laboratories Corp., a pharmaceutical company, manufactures and sells pharmaceutical-quality cannabis oil and concentrates and innovative derivative products in Canada, Australia, Germany, and elsewhere. It creates, refines, prepares, distributes, and packages innovative cannabinoid-based products, including cannabis extracts. Further, GMP flower procurement, packing, and distribution services are offered by the company.
The company announced its 2022 full-year and fourth-quarter results in March. Adult Usage and Wellbeing in Canada had $13.3 million in net sales in 2022, a 71% increase from $7.8 million in 2021. When compared to Q3 2022, this segment’s quarterly growth was 24% in Q4 2022. Our presence in the Canadian cannabis wellness market and our award-winning cannabis oils drive this trend. The Company has put in place a restructuring strategy that management anticipates could result in a 30% reduction in Canadian non-manufacturing headcount, which could result in a $3 million annually cost reduction.
MEDIF Stock Performance
MEDIF stock closed at $0.0587 on April 6th, up 15.20% in the past five days of trading. The stock has a 52-week price range of $0.049-$0.127, up 20.64% year to date.
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TILT Holdings Inc.
TILT Holdings Inc., an international market specialist, may be able to assist cannabis entrepreneurs in building a global brand. The companies’ main markets are the European Union, the United States, Canada, Israel, Mexico, and South America. To be clear, TILT has a sizable portfolio of companies that offer production, manufacturing, hardware, and software to other leading cannabis companies. For cannabis-based treatments, the company typically offers the best inhalation equipment to the American and European markets.
Revenue decreased from $54.1 million in the same quarter last year to $44.3 million in Q4 2022. In Q4 2022, gross profit was $8.3 million, or roughly 19% of revenue, down from Q4 2021’s gross profit of $11.2 million, or roughly 21% of revenue. In comparison to a financial loss of $20.1 million in the same time last year, the company saw a net loss of $73.1 million in the three months that concluded on December 31, 2022.
The corporation earned $174.2 million in revenue for 2022 instead of $202.7 million the year before. In the year ending December 31, 2022, gross profit was $38.2 million, or around 22% of revenue, down from the prior year’s gross profit of $50.2 million, or roughly 25% of revenue. In comparison to the prior year’s net loss of $35.1 million, the net loss for the twelve months ending December 31, 2022, was $107.5 million. The fourth-quarter goodwill impairment was principally responsible for the net loss.
TLLTF Stock Performance
TLLTF stock is trading at $0.0675 on April 6th, up 14.41% in the past five days. The stock has a 52-week price range of $0.029-$0.30 and is up 67.49% year to date.
Best Penny Pot Stocks For April Watchlist
Looking into the financials and press releases of the leading cannabis companies can allow you to find the best companies to invest in. To benefit from the current economic slowdown, many seasoned investors are actively trading short-term positions in the leading cannabis stocks. Before taking a position, use technical indicators and chart patterns to determine the ideal entry points and take-profit zones. By actively seeking out good chances, you can improve your capacity for concluding successful agreements. Because of their infamous volatility, the most well-known American marijuana companies are among the top penny stocks to watch in 2023.
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