Best Cannabis Stocks For Penny Stock Investors
Do you want to invest in the top marijuana stocks for 2023? When market gains seem to always be followed by significantly bigger losses, long-term investing becomes difficult. One approach to benefit from the current market volatility is through short-term trading. Cannabis penny stocks have the highest risk-to-reward ratios of any cannabis stock.
Trading cannabis penny stocks is one-way cannabis investors gain from the present industry downturn. Penny stocks are any stocks that are traded for less than $5. These cannabis companies, notorious for their substantial market volatility, might produce large returns for short-term investors. Before making a penny stock investment or starting a short-term trading strategy, it’s crucial to conduct your own research and understand the risks. Also, having a sound trading strategy and sticking to it is crucial because emotions can frequently result in rash and unwise trades.
One sector of the industry that will expand significantly is the global cannabis market. In 2023, the newly legalized cannabis market will continue be expanding. Statistical records are now being broken, and this trend is expected to continue until most nations have approved legalization legislation and established their regulated sectors. Ultimately, this might present a chance for marijuana investors to purchase quality companies at lower market prices. Let’s examine two of the top marijuana stocks in the global market to watch in March.
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Best International Marijuana Stocks To Watch In March 2023
- Clever Leaves Holdings Inc. (NASDAQ: CLVR)
- IM Cannabis Corp. (NASDAQ: IMCC)
Clever Leaves Holdings Inc.
Clever Leaves Holdings Inc. grows, extracts, manufactures and sells marijuana. The organization currently conducts business in several countries, including Colombia, Portugal, Germany, the US, and Canada. Together with health and detoxifying goods, the company develops, produces, markets sells, and distributes a variety of homeopathic treatments. By utilizing industrial-scale, inexpensive, ESG-friendly, cost-effective production processes, Clever Leaves seeks to alter the cannabis manufacturing industry as it presently stands fundamentally. The strictest medical-grade certifications that are now offered on a global basis are combined in these methods.
Instead of $4.0 million, the company’s third-quarter revenue in 2022 was $3.3 million. While non-cannabis-related sales decreased by 12%, from $3.2 million to $2.3 million, cannabis-related sales rose by 12%, from $0.9 million to $1.0 million. The overall profit decreased from $1.9 million to $0.3 million due to an inventory reserve of $0.7 million. This was due to a $1.7 million inventory reserve. Compared to a net income of $1.0 million, the net loss was $20.2 million. This was principally caused by a $19.0 million charge incurred during the quarter for the impairment of intangible assets. A liability for delinquent taxes totaling $6.7 million only partially offset this.
Clever Leaves declared on January 23 that its operations in Portugal would cease as part of continuing restructuring efforts. The Firm will also focus on all marijuana growing and production operations in Colombia to maximize operational efficiencies.
CLVR Stock Performance
CLVR stock is trading at $0.41 on March 1st, down 27.43% in the past month. The stock has a 52-week price range of $0.29-$3.98 and is up 33.55 year to date. According to 2 analysts at CNN Business, CLVR stock has a consensus price target of $2.28 per share. This forecast represents an increase of 454.88% from its last trading price of $0.41.
[Read More] The Best Marijuana Stocks For Your 2023 Portfolio
IM Cannabis Corp.
IMC operates in Israel, Germany, and Canada and is a world leader in the medical and adult-use recreational cannabis industry. According to the company, the IMC brand has apparently helped the Israeli medical cannabis market attain a critical milestone. The variety of medical marijuana products offered by IMC is expanding. Adjupharm, a business subsidiary with a German headquarters and an EU-GMP-certified medicinal cannabis distributor, represents the company throughout Europe. The company has made significant announcements regarding opening a cutting-edge logistics facility in Germany. With the aid of this facility, Adjupharm will be able to optimize its supply chain going forward by repackaging cannabis in a sizable volume.
In November, IMC announced third-quarter sales of $14.2 million, an increase of 78% over the $8.0 million recorded in the previous quarter and 12% organic growth. Moreover, the gross profit increased 39% between the third quarters of 2021 and 2022 ($2.8 million vs. $2.0 million). The gross margin for Q3 2022 was 20% higher than Q3 2021. The primary factor behind the reduction is the write-off of outdated local non-premium inventory. In comparison to a net profit of $0.8 million in Q3 2021, the company reported a net loss from continuing operations of $4.5 million in Q3 2022.
IMCC Stock Performance
IMCC stock closed at $0.955 on March 1st, down 29.26% in the past month of trading. The stock has a 52-week price range of $0.821-$25.90 and is down 2.03% year to date. According to analysts at CNN Business, IMCC stock has a median price target of $7 per share. In this case, this would represent an upside of 644.68% from its last trading price of $0.955.
[Read More] Top Marijuana Penny Stocks With The Best Year To Date Performance In 2023
Top Pot Stocks Under $1 For Penny Stocks Investors
The value of these marijuana stocks in 2023 could rise due to several predicted events in the following months. Finding the top cannabis businesses on the market might be simpler by looking at their financials and press releases. Several seasoned traders are actively making short-term bets on the top cannabis companies to profit from the recent market turbulence. Choose the ideal settings utilizing technical indicators and chart patterns before opening a position. You may increase your ability to close profitable agreements by actively looking for promising prospects. These might be some of the top penny pot stocks to watch in the cannabis sector, given the volatility of the leading cannabis companies this month.
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