Top Cannabis Stocks For Q4 2021
To start the first full week in December top marijuana stocks to buy are showing some green for the day. Last week the best cannabis stocks to watch sustained significant declines as the overall markets dropped because of the Omicron variant. This coupled with a yearlong delay to pass federal cannabis reform has left the cannabis sector trading much lower closing out the year. One-way investors have taken advantage of the market volatility in the cannabis sector is by trading marijuana penny stocks.
Penny stocks are any stocks trading under the $5 stock price. In general, these cannabis penny stocks are known to be a higher risk-reward trade that many investors prefer to trade on a short-term basis. Currently, in the market, many investors have learned to use short-term trading methods like day trading and swing trading to produce gains in the short term.
Although these kinds of trades require, a more active trading style investors can see profits on a day-to-day basis. Researching a company’s earnings and studying how the stock moves in the market can help one become a successful trader. In the fourth quarter, steep declines in top pot stocks could give traders a chance to get in the cannabis sector at lower levels.
Possible Catalyst For December Pot Stocks
With this renewed upside this week, some of the top marijuana stocks for your list could have some potential for traders. As the comes to an end if get cannabis banking is to pass this could be a significant catalyst for the best cannabis stocks to watch this week. Let’s look at 2 top marijuana penny stocks to add to your watchlist right now.
Best Marijuana Penny Stocks To Watch For December 2021
Glass House Brands Inc.
Glass House Brands Inc. is one of the fastest-growing, vertically integrated cannabis and hemp companies in the U.S. Primarily, the company is focusing on the California market and building leading, lasting brands to serve consumers across all segments. In general, the company is doing this through its portfolio of brands, which includes Glass House Farms, Forbidden Flowers, and Mama Sue Wellness. In September the company completed a 5.5 million-square-foot Southern California greenhouse facility acquisition. The company also appointed Mark Vendetti as Chief Financial Officer.
In November Glass House reputed its third-quarter 2021 results with net sales of $17.2 million up 29% from Q3 2020. To highlight, the company’s house cannabis brand was the No. 1 ranked brand by sales in California in Q3 2021. Gross profit was $2.3 million and a gross margin of 14%. Year-to-date sales grew 63% to $51 million in Q3 2021 compared to $31.3 million in Q3 2020. The company ended Q3 with a cash balance of $28.9 million. GLASF stock is trading at $4.38 on December 6th up 2.937% going into the close. Currently, the stock has a price range of $4.10-$6.26 for the past few months.
Harborside Inc. was awarded one of the first six licenses granted in the United States. At the present time, Harborside has six dispensaries in California and Oregon. In 2021, Harborside has started expanding its footprint and could continue to grow its presence in the California market. Harborside also completed upgrades to its Salinas cultivation facility gaining over 50% annual cultivation capacity and year-round production. In October the company announced a retail partnership with RNBW a new premium cannabis brand produced with music legend Insomniac.
Harborside delivered third-quarter 2021 total gross revenue of $17.9 million up 10.4% sequentially. In addition, the company has an Adjusted EBITDA of $1.5 million up 28.2% from the prior quarter. Also, the company completed the acquisitions of Sublime and Accucanna LLC. In specific Harborside generated retail Q3 2021 revenue of $9.2 million, wholesale revenue of $2.8 million, and manufacturing revenue of $5.9 million. As a result, the company produced a gross profit of $5.4 million in Q3 2021.
Words From The CEO
“While bulk prices declined across the state of California in the third quarter, we continued to make improvements to our business, including the expansion of our wholesale presence throughout California through the integration of Sublime into our operations. I’m pleased that we continue to deliver positive adjusted EBITDA (1) as we relentlessly focus on our customers and work on improving capital efficiency throughout the business,”
Matt Hawkins, Chairman and Interim CEO of Harborside.
HBORF Stock Performance
HBORF stock is trading at $0.52 down 28.69% in the last month. Currently, the stock has a 52-week price range of $0.496-$2.54 and is down 66.97% year to date. According to analysts at Wallet Investor, the stock has a 1-year forecast price target of $0.878 per share. In five HBORF stock has a forecast of $2.20 per share. As cannabis stocks continue to show significant daily volatility these could be top marijuana penny stocks to watch this week.
[Read More] Top Cannabis Stocks To Watch Under $1 Right Now
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