Best Cannabis Stocks In 2022 During This Market Volatility
At the present time, with the cannabis sector starting 2022 with declines, are top marijuana stocks a buy in January? This year many analysts are predicting a volatile year for the market this could affect an already volatile cannabis sector. Because of delays in Congress with establishing federal cannabis reform the best cannabis stocks could be trading at a discount currently. Starting the year reaching new lows most top pot stocks are forecast for upside according to analysts’ price targets.
Making a list of top marijuana stocks to watch is a good way to keep track of their movements in the market. In times of market volatility, many cannabis investors trade marijuana penny stocks to produce gains. In general penny stocks are any stocks that trade under the $5 price point. Specifically, this area of the market is a high-risk reward area that many investors prefer to trade on a short-term basis.
In general, active traders use day trading and swing trading methods to produce gains with penny stocks. Because of the lower stock prices, active traders can establish larger positions with less capital. This allows them to produce gains from smaller price fluctuations in a penny stock. But this type of trading style is executed better when the investor has learned to identify favorable setups a particular marijuana stocks pattern.
Finding The Best Pot Stocks To Trade Short Term
Before making any investments it’s always important to do your own due diligence on a company. In general, looking into a company’s financial results and press releases can help you find the best-performing companies to watch. Additionally, studying how a stock moves in the market can help you establish the best entry points for your trades. In the US the cannabis market is expected to grow significantly in the next few years.
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Strong earnings did not translate into market gains in 2021 for US cannabis companies. But now that the cannabis sector seems to have priced in the possibility that we will not see the end to federal prohibition in 2022 pot stocks could begin trading around other factors. With this in mind, let’s look at 2 top marijuana stocks to watch for short-term gains.
Best Marijuana Stocks To Watch For Next Week
- Glass House Brands Inc. (OTC: GLASF)
- 4Front Ventures Corp. (OTC: FFNTF)
Glass House Brands Inc.
Glass House Brands Inc. is one of the fastest-growing vertically integrated cannabis and hemp companies in the United States. The company is primarily focused on the California market, where it is developing leading, long-lasting brands to fulfill the demands of clients across a wide range of industries. Glass House Farms, Forbidden Flowers, and Mama Sue Wellness are just a few of the company’s businesses that are succeeding in this endeavor. The corporation bought a 5.5 million square foot greenhouse plant in Southern California in September. Mark Vendetti has been appointed as the company’s Chief Financial Officer. PLUS, a large California edibles company, was purchased for $25.6 million in December.
Glass House reported third-quarter 2021 results in November, with net sales of $17.2 million, up 29% from Q3 2020. In Q3 2021, the company’s in-house cannabis brand, for example, was the top-selling brand in California. As a result, with a gross margin of 14%, the total profit was $2.3 million. Year-to-date revenue in Q3 2021 was $51 million, up 63 percent from $31.3 million in Q3 2020. The corporation had a cash balance of $28.9 million at the end of the third quarter. GLASF stock ended at $4.45 on January 20th, down 7.58 % for the day. The stock has been trading in a $3.43-$6.26 range over the past few months.
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4Front Ventures Corp.
4Front Ventures is a cannabis wholesaler and retailer based in the United States that specializes in mass-produced, low-cost, high-quality branded cannabis goods. The company now offers approximately 25 distinct cannabis products. 4Front has dispensaries in Illinois, Massachusetts, California, Michigan, and Washington, to name a few. The first phase of a 558k sq. ft. cultivation and production complex in Illinois has been completed by 4Front. The transaction is between 4Front and Innovative Industrial Properties, Inc. (NYSE: IIPR), and construction is to be complete in Q2 2022.
4Front released financial statistics for the third quarter of 2021, reporting systemwide pro forma sales of $33.1 million, up from $22.3 million in the third quarter of 2020. As a result, in Q3 2021, the company achieved $7.5 million in Adjusted EBITDA, up 103 % from Q3 2020. Revenue of $25.9 million was reported under GAAP, an increase of 70% year over year and a 4% reduction from Q2 2021. In October, the company purchased New England Cannabis Corporation, a best-in-class cannabis operator in Massachusetts. The purchase includes a 55,000-square-foot growing facility, bringing the total number of flower-producing businesses in the state to more than double.
FFNTF stock closed at $0.84 on January 20th down 5.62%% for the trading day. The stock has a 52-week price range of $0.8265-$1.98 and is down 16.83% in the last six months. According to analysts at CNN Business FFNTF stock has a median price target of $1.78 per share. This median estimate would represent an upside of 111.70% from its last trading price of $0.84.
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