Best Marijuana Stocks For Active Traders In 2021
Ending the week showing some upside in the market top marijuana stocks have been trading near some of the lowest levels seen in 2021. This year many cannabis investors believed the federal government would end prohibition. Because of the delays in achieving federal cannabis reform the cannabis sector has been experiencing declines as the years progressed.
Although there is still a slim chance banking could make it through attached to the NDAA Senate Majority Leader Chuck Schumer has previously announced he wanted to pass decriminalization and legalization before banking. Throughout the year the cannabis sector has been directly seeing upside from any mention of federal cannabis reform. This has increased the volatility in many of the best cannabis stocks to watch. One-way active traders take advantage of the volatility is by trading marijuana penny stocks.
Technically penny stocks are any stocks that trade under the $5 price point. Known for being a high-risk high reward area of the market many traders prefer investing in them using short-term trading methods. In general, some investors use day trading and swing trading techniques to achieve gains in the short term. As top pot stocks continue to show significant price fluctuations there could be opportunities for cannabis traders.
Learning How To Find Pot Stocks For Short Term Gains
Making a watchlist of possible short-term marijuana stocks could be a good way to keep track of possible trades. With so many factors impacting the market like the new Omicron variant, growth data, and possible changes from the Fed because of inflation there could substantial volatility to end the year. As we head into the weekend with the overall markets trending down let’s look at 2 top marijuana penny stocks for your watchlist for next week.
Top Marijuana Penny Stocks To Watch Under $1
MariMed Inc. is a US MSO that is developing its own brand state-licensed cannabis facilities and dispensary operations. Primarily, the company develops and manages a seed to sale state-licensed cannabis facilities. MariMed has an experienced management team producing consistent growth and success for its managed business units. The company’s technicians’ names are embedded in its top-selling and award-winning products and brands, including Betty’s Eddies®, Nature’s Heritage™, Bourne Baking Co., and Kalm Fusion®.
On November 15th the company delivered its third-quarter 2021 results with revenue of $33.2 million up 147% year over year. In addition, MariMed has an Adjusted EBITDA of $12.9 million an increase of 213% year over year. As a result, gross profit for Q3 2021 was $18.2 million an increase of 109% from Q3 2020. Overall the company has a net income of $2.1 million and working capital of $27.3 million to end the quarter.
MRMD stock closed on December 3rd at $0.67 down 14.15% in the past month. The stock has a 52-week price range of $0.29-$1.20 and is up 47.04% year to date. According to analysts at CNN Business MRMD stock has a 12-month median price target of $2.25 per share. In this case, this would represent an upside of 225.59% from its current trading price.
MedMen Enterprises Inc.
MedMen Enterprises Inc. is a cannabis retailer with locations in California, Nevada, Illinois, and Florida. In general, the company has an extensive selection of high-quality products, including MedMen-owned brands LuxLyte, and MedMen Red. Recently, expanding in Florida the company opened a new location in South Beach Miami and continues expanding and in the US cannabis market. MedMen’s current interim Chief Executive Officer and Chairman of the Board of Directors, Tom Lynch, became the permanent Chief Executive Officer.
On November 9th MedMen reported its first-quarter fiscal 2022 results. Specifically, first-quarter revenue increased 13.4% year over year to $39.8 million. In addition, the total gross margin rate was 43.9% in the first quarter down from 46.9% year over year. As it stands the company sustained a net loss of $55.3 million compared to a net loss of $21.9 million year over year. As of September 25th, the company had total assets of $531.9 million including cash and cash equivalents of $78.2 million.
MMNFF stock closed at $0.2045 on December 3rd down 7.75% in the past five trading days. The stock has a 52-week price range of $0.12-$1.47 and is up 61.53% year to date. According to analysts at Tip Ranks MMNFF stock has a 12-month average price target of $0.27 per share. In this case, this would represent an increase of 32.35% from its current trading level.
[Read More] 2 Marijuana Stocks To Watch This Friday
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