Best Cannabis Stocks For Q3 2022

As the market continues climbing are you looking for top marijuana stocks to buy? Since July began and fresh lows were reached, the cannabis industry has generally been on the up. One method cannabis investors are taking advantage of the present growth in the cannabis sector is by trading marijuana penny stocks. For those who don’t know, penny stocks are any equities that trade for less than $5. These marijuana stocks, which are known for their extraordinary volatility in the present market climate, may provide big profits for short-term investors.

The cannabis market could more than double in size during the next five years. The international cannabis market is one sector that will expand considerably. There are numerous companies today that have established themselves in these industries and are still growing internationally. Some of these top cannabis stocks have seen gains in August. Cannabis investors are closely monitoring US federal cannabis legislation because there are now many sponsors in Congress.

Many active traders are currently opening positions in some of the top penny marijuana stocks by taking advantage of the cheaper price points. Most likely there could be a potential increase in August in the cannabis industry. Let’s examine more closely 2 of the top marijuana penny stocks for your list next week as the overall markets continue to show signs of life.

[Read More] Are Top US Marijuana Stocks A Buy In August?

Top Marijuana Stocks To Watch Right Now

  1. IM Cannabis Corp. (NASDAQ: IMCC)
  2. Clever Leaves Holdings Inc. (NASDAQ: CLVR)

IM Cannabis Corp.

Operating in Israel, Germany, and Canada, IMC is a world leader in the medical and adult-use recreational cannabis industries. The Israeli medical cannabis industry has reportedly reached a significant milestone thanks to the IMC brand, claims the business. IMC is adding medicinal cannabis to its list of available products. In general, the business is represented across Europe by Adjupharm, a subsidiary with a German headquarters and an EU-GMP-certified medicinal cannabis distributor. The business has made significant announcements about the opening of a state-of-the-art logistics facility in Germany. This facility will allow Adjupharm to optimize its supply chain over the long term, including the repackaging of bulk cannabis. 400 kg of the best indoor dried cannabis has arrived in Israel, according to Focus Medical’s announcement in January. IMC_logo_corp

IMC announced its second quarter 2022 results on August 15th, with sales growing 114% year over year to $23.8 million. Additionally, the total profit was $5.6 million before fair value adjustments. 3,210 kilograms of the dried flower were sold overall in Q2 2022, with an average selling price per gram of $5.72, up from 1,842 kilos in the same period of 2021, with an average selling price per gram of $3.92. Comparatively to Q2 2021, the company’s net loss increased to $5.01 million from $18.98 million in Q2 2022.

The company started centralizing the operations of its recently acquired businesses during the first quarter after completing four significant acquisitions in Israel, including the biggest retail and online pharmacy company in the nation and a trade and distribution center with an IMC-GDP license. The Company’s IMC Hindu Kush strain was the best-selling T20 on the market in Germany in May, making Adjupharm GmbH one of the top 10 marijuana businesses. May was the country’s biggest sales month to date for cannabis.

IMCC Stock Performance

IMCC stock closed at $0.6530 on August 15th up 27.22% in the past five days of trading. The stock has a 52-week price range of $0.3940-$4.83 and is down 80.45% year to date. According to analysts at CNN Business IMCC stock has a median price target of $5.00 per share. In this case, this would represent an upside of 662.43% from its last trading price of $0.6530.

[Read More] 2 Marijuana Stocks To Watch To Start Your Trading Day

Clever Leaves Holdings Inc.

Clever Leaves Holdings Inc. cultivates, extracts, manufactures, and distributes marijuana. The company is now in a number of nations, including Colombia, Portugal, Germany, the United States, and Canada. The company develops, produces, promotes, distributes, and sells a variety of natural remedies, including homeopathy, as well as goods for health and detoxification. Clever Leaves aims to completely disrupt the cannabis manufacturing industry as it is currently operating through the use of industrial-scale, low-cost, ESG-friendly, environmentally friendly, and cost-effective production techniques. These techniques are combined with the strictest medical-grade certifications in the world.CLVR LOGO

On August 11th, the company announced the results of the second quarter of 2022. Revenue increased 27% year over year to $4.7 million, demonstrating continuing commercial success in target markets. Particularly, revenue from cannabinoids climbed by 124% to $1.3 million from $0.6 million while sales from non-cannabinoids increased by 9% to $3.4 million from $3.1 million. Additionally, gross profit was $1.3 million, which contained an inventory provision of $1.3 million, as opposed to $1.8 million, which included an inventory provision of $0.6 million. Due to the sale of a portion of its minority ownership holding in Cansativa, the company’s net loss was reduced to $1.0 million from $9.0 million, principally due to an investment gain of $6.9 million.

CLVR Stock Performance

CLVR stock is trading at $1.05 on August 15th down 2.78% in the past five trading days. Currently, the stock has a 52-week price range of $0.908-$10.48 and is down 66.13% year to date. According to analysts at CNN Business CLVR stock has a consensus price target of $3.00 per share. This forecast represents an increase of 188.46% from its last trading price of $1.05.

[Read More] Top Marijuana Penny Stocks To Watch For Q3 2022

Trading And Investing In Top Penny Pot Stocks

When attempting to pinpoint the companies with the most potential, reviewing a company’s financials and press releases may be of great assistance. Before choosing a position, it’s important to research a corporation carefully. If you get more proficient at using technical indicators and chart patterns, your investment returns may rise. In general, given the market’s current conditions and the cannabis industry’s rapid local and global growth, short-term traders may benefit from them. In this market situation, it may be beneficial for you to become familiar with a range of trading strategies. These may be among the best marijuana stocks to add to your watchlist for August 2022.

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