Investing In Pot Stocks In Q4 2021
Are you looking for different ways to invest in top marijuana stocks in 2021? In October the best cannabis stocks to invest in have declined to the lowest trading levels seen so far this year. As the year progressed top pot stocks have declined due to delays in Congress with federal marijuana legalization. While many investors were expecting federal cannabis legalization and banking reform earlier in the year the top pot stocks rallied to new highs in Q1 2021.
Now from current levels, we could see marijuana stocks begin to climb in Q4. One possible catalyst is the passing of the SAFE Banking Act and the MORE Act by the House to start the fourth quarter of 2021. Now as cannabis reform resurfaces in Congress, we have the possibility of ending marijuana prohibition going into the end of the year. In the US leading cannabis companies are delivering strong financials and expanding rapidly nationwide.
Although this is not translating into returns in the market it does show the strongest performing companies in the industry. One way many investors are taking advantage of these lower cannabis sector trading levels is by investing in marijuana penny stocks. Penny stocks are any stocks trading under the $5 stock price and are known for market volatility. Because of their price fluctuations investors prefer to trade these stocks on a short-term basis.
Using Short Term Trading Methods With Penny Stocks
Investors use day trading and swing trading methods to take advantage of the short-term price swings. In general, these are higher risk-reward trades that allow investors to achieve larger position sizes with less capital. For investors, it’s important to do your own due diligence on a company before investing. Researching a company’s earnings and press releases can help you find the best performing cannabis companies.
In addition, following how a stock performs in the market and establishing the best entry point for your position is key to seeing returns. At the present time, many top cannabis penny stocks could see some upside as trading improves for the sector. For investors, it could be time to make a list of the best penny stocks to watch in Q4 2021. As the cannabis market continues to grow rapidly across the US, let’s look at 2 top marijuana penny stocks to watch before next week.
Best Cannabis Penny Stocks To Watch In 2021
Jushi Holdings Inc. (OTC: JUSHF)
Cansortium Inc. (OTC: CNTMF)
Jushi Holdings Inc.
Jushi Holdings Inc. is a cannabis and hemp company that is expanding its presence in the medical and recreational cannabis markets across the US. In general, the company is building a portfolio of branded cannabis and hemp-derived assets across the US market. At the present time, Jushi operates 36 dispensaries under the BEYOND/HELLO brand. In September, Jushi expanded its presence in Nevada and established a fourth operating dispensary in the state. Additionally, Jushi has 31 retail licenses in the US, and its national brand of cannabis dispensaries Beyond/Hello continues to see growth online and in-store. On October 21, 2021, the company announced it secured a $100 million acquisition facility from Sunstream Bancorp Inc.
Jushi reported its second-quarter 2021 results with revenue of$47.7 million up 14.6% sequentially. To highlight, the company produced a net income of $4.8 million and an adjusted EBITDA of $4.6 million. As a result, Jushi saw gross profits of $21.9 million and an increase of 193.7% year over year. In August the company announced the upcoming launch of branded cannabis products in the commonwealth of Virginia. Jushi will debut its brand The Lab, vaporizable cartridges, and Tasteology its chewable line. The company also plans to launch two flower brands as well. In September Jushi announced the upcoming launch of flower brands The Bank and Seche to Virginia patients.
JUSHF Stock Performance
JUSHF stock is trading at $3.90 on October 21, 2021, down 1.61% in the last month. Currently, the stock has a 52-week price range of $2.493-$9.063 and is down 33.11% year to date. According to analysts at Tip Ranks JUSHF stock has a 12-month average price target of $6.95 per share. In this case, this would represent an upside of 78.17% from its current trading price.
At the present time, Cansortium Inc. is a leading cannabis company focusing on providing the highest quality cannabis in the state of Florida. Primarily, the company has established operations in Texas, Michigan, and Pennsylvania. In detail, the company is expanding its presence in Florida and Pennsylvania fully funded by a debt and equity financing of $90 million. In September, the company opened a dispensary in Fruitland Park, Florida. Right now, Cansortium has 27 operational dispensaries in Florida giving it a sizable presence in the state.
Specifically, the companies brand Fluent has produced a wide variety of premium dried flower, edibles, and full-spectrum concentrates, cartridges, and creams. Cansortium released its Q2 2021 results with revenue up 24% year over year to $16.5 million. In addition, the company reported an adjusted EBITDA of $5.2 million. The company saw adjusted gross profits increased 24% to $10.7 million or 65.1% of revenue. In August Fluent by Cansortium expanded its Florida cultivation with new greenhouse facilities in Homestead and Sweetwater.
CNTMF Stock Performance
CNTMF stock is trading at $0.82 on October 21st up 10.22% in the past five trading days. The stock has a 52-week price range of $0.45-$1.35 and is up 27.39% in the last month. According to analysts at Market Beat CNTMF stock has a consensus forecast price target of $1.20 per share. In essence, this would represent an upside of 47.4% from its current trading price.
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