Best Cannabis Stocks For Short Term Gains In 2022
Are you looking for the best marijuana stocks to buy in January? Last year the top cannabis stocks to invest in rallied in Q1 2021 because of the possibility of achieving federal cannabis reform. Now one year later the delays in Congress have caused a significant decline in the cannabis sector. For the past few years, we have seen increased volatility for top pot stocks.
One-way active traders take advantage of this volatility is by trading marijuana penny stocks. In general penny stocks are any stocks that trade under the $5 stock price. In specific, this area of the market is considered a high-risk reward area that investors prefer trading on a short-term basis. Many active traders use day trading and swing trading techniques to produce gains with cannabis penny stocks.
Because of the lower price points, traders can establish larger positions using less capital. This allows them to produce gains with smaller moves in the price action. In January top marijuana stocks have shown some volatility to begin the year. Making a list of the best cannabis stocks to watch for 2022 can help you narrow down possible trades. Now that the cannabis sector is trading near new lows it could be time to find some short-term plays.
Penny Pot Stocks In 2022
Before investing in pot stocks, it’s important to do your own research on a company. Looking into a company’s financials and press releases can allow you to find the top-performing businesses. In addition, following how a stock moves in the market can help you establish the best positions for your investments. In general, learning to use trading tools to establish good setups can help you become a better trader.
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While the cannabis sector begins to show some movement as 2022 kicks off, we could see some upside as cannabis companies report earnings. To start this week in trading Canadian cannabis stocks began climbing with Tilray, Inc. (NASDAQ: TLRY) earnings showing a surprising profit due to cost cuts from the Aphria merger. Some of the US marijuana penny stocks could also show some movement in the next few trading days. Let’s look at 2 top cannabis penny stocks for your list this week.
Top Marijuana Stocks For Your List In January 2022
- Jushi Holdings Inc. (OTC: JUSHF)
- Greenlane Holdings, Inc. (OTC: GNLN)
Jushi Holdings Inc.
Jushi Holdings Inc. is a cannabis and hemp company established in the United States that is increasing its footprint in the medical and recreational marijuana markets. The primary purpose of the company is to develop a portfolio of branded cannabis and hemp-derived assets for the American market. Jushi operates 28 dispensaries in the United States under the BEYOND/HELLO brand. Jushi also has 31 retail licenses in the US, and its national cannabis dispensary brand, Beyond/Hello, is expanding both online and in-store. Sunstream Bancorp Inc. offered the company a $100 million purchase facility in October. Furthermore, the company opened its second retail location in Virginia.
Jushi announced $54 million in revenue for the third quarter of 2021 in November, rising 116.7 % year over year. The net income of the corporation grew from $68.2 million to $38.2 million. Furthermore, in Q3 2020, Jushi’s Adjusted EBITDA increased by 124.9 % to $6.4 million. As a result, the company’s gross profit increased by 99.6% year over year to $24.5 million. The company also unveiled new branded cannabis products in Virginia. Under the name The Lab, Jushi will introduce its vaporizable cartridges as well as its chewable line Tasteology. In the third quarter, Jushi expanded its Nevada footprint by selling flowers in Virginia. On January 10th the company announced a share purchase by the CEO, Chairman, and Founder Jim Cacioppo.
JUSHF Stock Performance
JUSHF stock closed at $3.85 on January 10th up 4.62% for the trading day. Currently, the stock has a 52-week price range of $3.40-$9.063 and is up 25% in the past five trading days. According to analysts at Tip Ranks JUSHF stock has a 12-month average price target of $8.49 per share. In this case, this represents an upside of 120.44% from its current trading price of $3.85.
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Greenlane Holdings, Inc.
Greenlane Holdings, Inc. is a well-known cannabis accessory company around the world. In the United States and worldwide, the company primarily provides luxury cannabis accessories, child-resistant packaging, and specialty vaporizer products. Greenlane presently has over 11,000 retail locations as clients all over the world. In 2021, Greenlane and KushCo Holdings, Inc. completed their merger. In October, the company purchased DaVinci, a leading developer and maker of premium portable vaporizers.
Greenlane announced leadership changes on January 4th in order to streamline and optimize its operations. For the four months following the KushCo merger, the corporation saved almost $8 million in costs. In November, the company released its most current financial figures, which showed total revenue of $41.3 million, up 16 % year over year. Greenlane’s sales grew to $8.4 million, the company’s second-highest total recorded. According to the company, Greenlane brand revenues would reach $70-$100 million in 2022 and 2023. Following the completion of Greenlane’s acquisition of KushCo Holdings, the company might become one of the world’s largest providers of auxiliary services.
GNLN Stock Performance
GNLN stock closed at $0.9028 on January 10th down 3.05% for the trading day. Currently, the stock has a 52-week price range of $0.88-$8.73 and is down 78.30% in the last six months. According to analysts at CNN Business GNLN stock has a 12-month median price target of $5.00 per share. In essence, this would represent an increase of 455.49% from its current trading price of $0.9028. As the market continues to show extreme volatility these could be some of the best marijuana penny stocks for your list right now.
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