Best Cannabis Stocks For The Current Market Environment
Are you looking for top marijuana stocks to buy as market volatility continues? The market appears to be continuing it’s bottoming out process with the release of this week’s CPI and PPI data. In addition, a lot of analysts now predict that a recession is coming or that one is already underway. Top cannabis stocks hit new lows in July and if the market declines, they might undergo another downturn. Long-term investing becomes difficult in a market situation like this one when rallies appear to be accompanied by further losses. Trading short-term is one way to profit from the present market volatility. Frequently, marijuana penny stocks are the most volatile cannabis stocks to invest in.
By making both long- and short-term investments with market values below current levels, you might be able to increase the size of your portfolio. Day traders and swing traders often make the greatest money when trading in a market like this one. Some long-term cannabis investors choose to trade outside of their primary long-term assets by using short-term trading strategies. They can thus profit from daily changes in the stock’s price.
It may be time to start paying attention to the cannabis penny stocks that are gathering momentum, even if many analysts think the sector as a whole will continue to deteriorate. Let’s take a look at 2 of the best marijuana penny stocks on your list next week as severe market volatility is forecast to continue in 2022.
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Top Marijuana Penny Stocks Under $1 For July
- Lowell Farms Inc. (OTC: LOWLF)
- Harborside Inc. (OTC: HBORF)
Lowell Farms Inc.
Lowell Farms Inc., a cannabis company established in California, is well-established and expanding its market share quickly. Building innovative production skills, artisan craft cannabis farming, and an award-winning portfolio of licensed cannabis brands are the company’s main goals. The organization and Ascend Wellness Holdings have a license arrangement. In order to provide the Lowell Smokes brand to dispensaries in Massachusetts and Illinois, the two businesses will work together. Michigan will now be serving Lowell Smokes, as Ascend and Lowell established a partnership in November. The well-known Lowell Smokes pre-roll bundles will also be made available in Illinois, the company claims.
With revenue of $12.4 million, up 13% from the first quarter of 2021, Lowell Farms reported its financial results for the first quarter of 2022. CPG sales climbed by 10% sequentially, mostly as a result of higher pre-roll and packaged flower sales revenue. Additionally, the gross margin for the first quarter was 12.7% as opposed to negative 12.3% and negative 13.4% for the same periods last year. The business lost $4.1 million in the first quarter as opposed to $10.0 million the year before. The automated pre-roll manufacturing capabilities of the Canadian business All Good Collective was another acquisition by the company in May after a month-long purchase process.
The shares of LOWLF closed at $0.2386, on July 13th down 9.38% in the last month of trading. The stock is now trading in a 52-week price range of $0.182-$1.38 and is down 25.06% year to date.
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Harborside Inc.
One of the first six American businesses to receive a license was Harborside Inc. On May 11th, the business announced the opening of two more retail locations, bringing the total number of establishments in California and Oregon to 13. In 2021, Harborside started expanding its presence in California, and it is anticipated that it will continue to do so. Harborside’s Salinas growing facility is expanding, allowing year-round production and more than double crop capacity annually. The company successfully made the acquisition of Urbn Leaf on March 1st, and Loudpack was also another acquisition in March.
Net revenues during the first quarter of 2022, as reported by Harborside, increased by 38.8% year over year to $17.2 million. These figures do not reflect Loudpack’s non-contribution but do include Urbn Leaf’s one-month donation. According to the corporation, Felicia Snyder has joined the Harborside board of directors. She helped Tokyo Smoke, one of Canada’s most well-known cannabis brands and a well-known Canadian cannabis shop, expand through a merger with Doja Cannabis and a subsequent sale to Canopy Growth Corporation. Harborside Inc. is also almost finished with early integration processes that are expected to save $10.3 million a year.
HBORF stock is trading at $0.28.73 on July 13th down 17.90% in the last month. Currently, the stock has a 52-week price range of $0.25-$1.405 and is down 21.32% year to date.
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Top Marijuana Stocks And Active Trading In 2022
Examining a company’s financial reports and news releases may help you choose which investments are suitable for your portfolio and trading strategy. Making better trading selections could improve by understanding chart patterns and technical indicators. The current market turbulence in the marijuana industry in July may present an opportunity for experienced traders. The cannabis stock market could explode in 2022 due to a number of factors. Any federal cannabis legalization legislation that is successful might significantly boost marijuana stock prices.
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