Are Penny Pot Stocks A Buy Before December

Want to invest in the top marijuana stocks while the market is still extremely volatile? In a market situation where gains appear to be followed by larger losses, long-term investing becomes difficult. One strategy to benefit from the current market volatility is short-term trading. The risk-reward ratios of cannabis penny stocks are the greatest of any cannabis stock.

As federal cannabis legalization advances on Capitol Hill, the volatility of top cannabis companies may increase. Recently, President Joe Biden said that he will start the process of pardoning those who have previously been found guilty of federal offenses involving small amounts of cannabis. Additionally, Biden said that in order to end state-level prosecutions for marijuana possession, he is recommending that other governors adopt a similar policy.

The US cannabis industry, which is worth billions of dollars a year, has been damaged by delays in federal cannabis legislation. By taking advantage of the sector’s recovery, investors may be able to benefit from the market’s current momentum. Below is a list of the 2 top marijuana stocks to watch during Thanksgiving week.

[Read More] The Best Marijuana Stocks To Own In 2023?

Top Cannabis Penny Stocks For Thanksgiving

  1. Ascend Wellness Holdings, Inc. (OTC: AAWH)
  2. Cansortium Inc. (OTC: CNTMF)

Ascend Wellness Holdings, Inc.

AWH has locations in Massachusetts, New Jersey, Ohio, Illinois, Michigan, and Michigan. Owning and running facilities that grow strains that win awards, as well as having a well-planned product line, are the core businesses of AWH. The company often manufactures and markets its goods under the brand name Ozone. The company offers a variety of cannabis product categories, including flowers, pre-rolls, concentrates, vapes, edibles, and other cannabis-related products. AWH runs 17 retail locations and sells to authorized marijuana businesses. A contract to increase the purchase price of MedMen NY Inc. was signed by Ascend Wellness and MedMen Enterprises Inc. on May 11.AWH

AWH released its third quarter 2022 results with gross revenue increasing 14.1% quarter-over-quarter and increased 27.8% year-over-year, to $134.3 million. In addition, net revenue, which excludes the intercompany sale of wholesale products, increased 14.1% quarter-over-quarter and 17.9% year-over-year, to $111.2 million. Also, retail revenue grew 9.6% quarter-over-quarter to $82.8 million. The company sustained a net loss of $16.9 million during the quarter, compared to a net loss of $21.2 million in Q2 2022.

AAWH Stock Performance

AAWH stock closed on November 21st   at $2.13 up 11.23% in the past month of trading.  Currently, the stock has a price range of $1.52-$6.76 down 67.56% year to date. According to analysts at Tip Ranks AAWH stock has a 12-month median price forecast of $4.50 per share. In this case, it would represent an increase of 111.27% from its last trading price of $2.13.

[Read More] 3 Marijuana Stocks To Buy 3rd Week Of November?

Cansortium Inc.

Cansortium Inc., a cannabis company based in Florida, specializes in high-quality cannabis. The company currently has locations in Texas, Michigan, and Pennsylvania. With a $90 million loan and equity arrangement, Cansortium is expanding into Florida and Pennsylvania this year. The firm claims that a dispensary is operating right now in Fruitland Park, Florida. One of Florida’s largest dispensary networks, Cansortium runs 27 dispensaries in the state. Under the Fluent brand, Fluent sells a variety of premium consumables, full-spectrum extracts, cartridges, and lotions.CNTMF

In the second quarter of 2022, Cansortium reported record revenues of $22.4 million, up 14% QoQ and 36% YoY. The second quarter saw a new record of $10,2 million. Adjusted EBITDA increased 95% year over year and 64% quarter over quarter, with an operational cash flow of $4.3 million. The company forecasts sales of $90-95 million and adjusted EBITDA of $25-28 million for 2022. Florida’s contribution went from $14.2 million to $18.8 million, an increase of 33%. Due to a difficult market, the company stopped operating in Michigan in August.

On November 21st, CNTMF stock finished at $0.1550, down 12.68% in the past month of trading. The stock is now trading in a 52-week price range of $0.132-$0.775 and is down 76.86 percent year to date.

[Read More] Top US Marijuana Stocks To Watch Thanksgiving Week

Investing In Cannabis Stocks For Short Term

Reviewing a company’s financials and press releases can be quite helpful when trying to identify the businesses with the most potential. Researching a company in depth is necessary before investing. If you become proficient with technical indicators and chart patterns, your investing results will likely increase. Short-term traders may benefit from the current market conditions due to the cannabis industry’s quick local and international growth. You could find it helpful to become familiar with a variety of trading methods during a downturn. These might be the best marijuana stocks to keep an eye on before December.


MAPH Enterprises, LLC | (305) 414-0128 | 1501 Venera Ave, Coral Gables, FL 33146 | new@marijuanastocks.com
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