Best Cannabis Stocks For Market Volatility
Do you want to know which marijuana stocks to buy before the end of the year? Short-term traders had a ton of possibilities this week due to the extreme market volatility. Leading cannabis companies may become more volatile as federal cannabis legalization moves forward on Capitol Hill. In general, cannabis penny stocks are one sector of the cannabis market where day traders and swing traders may find opportunities.
Many cannabis investors are actively trading marijuana stocks utilizing short-term trading strategies in an effort to benefit from the current volatility. In addition, many of the largest cannabis firms’ present market valuations are comparable to those of penny stocks. Penny stocks are any shares of stock with a price of less than $5. They are known for their strong volatility and the significant daily price variations they can experience.
At the present time, many cannabis investors are actively trading marijuana penny stocks utilizing short-term trading strategies in an effort to benefit from the current volatility. Many of the largest cannabis firms’ present market valuations are comparable to those of penny stocks. Penny stocks are any shares of stock with a price of less than $5. They are known for their strong volatility and the significant daily price variations they can experience.
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Top Cannabis Penny Stocks For December
- Columbia Care Inc. (OTC: CCHWF)
- TPCO Holding Corp. (OTC: GRAMF)
- Red White & Bloom Brands Inc. (OTC: RWBYF)
Columbia Care Inc.
There will be a considerable rise in Columbia Care Inc.’s presence in the New York area. The company, which is one of the biggest cannabis growers on the East Coast, just bought a 34-acre Long Island facility. Currently, Columbia Care has 131 locations, including 99 dispensaries and 32 growing and processing facilities, dispersed over 18 American cities. In October 2021, the company unveiled a marijuana dispensary at its first site in Missouri. In addition, the business just disclosed the location of Virginia’s third gLeaf dispensary. On March 23, Columbia Care was purchased by Cresco Labs Inc. (OTC: CRLBF), the largest MSO in the US, for a $2 billion total enterprise value.
The company reported third-quarter revenue of $133 million, an increase of 2.4% QoQ, for 2022. Additionally, the business’s gross profit increased by 2.5% QoQ to $52 million. While wholesale revenue climbed 14% sequentially and contributed significantly to EBITDA, retail revenue increased just a little, 0.4% over Q2 2022. In June 2022, adult usage hours were fully implemented in New Jersey retail outlets. Market sales surged by more than 75% sequentially, and wholesale growth was over five times higher than in the previous quarter. In Q3, no new retail establishments were opened. The company added its fifth retail facility in Virginia, Carytown, after the quarter ended, bringing the total number of dispensaries to 85.
CCHWF Stock Performance
CCHWF stock closed on November 10th at $1.50 up 11.03% in the last month of trading. Currently, the stock has a 52-week range of $1.15-$3.39 down 47.21% year to date. According to analysts at Tip Ranks CCHWF stock has a 12-month average price target of $3.73 per share. In this case, this is an upside of 148.67% from its last trading price of $1.50.
TPCO Holding Corp.
One of California’s largest cannabis companies is TPCO Holding Corp. Shawn Jay-Z Carter, a businessman and artist, Left Coast Ventures, a hemp farmer, and Caliva, a direct-to-consumer marketplace, make up the TPCO brand. Carter serves as the company’s Chief Visionary Officer and Chief Brand Strategist. In general, the business cultivates, moves distributes, and extracts marijuana all over California. Under 17 owned and permitted brands, the corporation sells cannabis products valued at 250 stock-holding units. 11 retail outlets and delivery locations were launched when Coastal Holdings Company, LLC was incorporated in October.
For the third quarter of 2022, the business reported net revenues from ongoing operations of $19.6 million. In addition, ongoing operations generated a gross profit of $6.6 million, or 34% of net sales, in the third quarter of 2022. A non-cash tax recovery of $24.5 million, losses from discontinued operations of $13.4 million, and non-cash impairments of goodwill and intangible assets of $127.8 million were all subtracted from the Parent Company’s reported adjusted Q3 2022 net loss of $31.3 million. The business reported a $15.9 million Adjusted EBITDA loss from ongoing operations for the third quarter of 2022. Adjusted EBITDA is reduced by the effects of changes in the fair value of financial instruments, impairment charges, and other non-cash considerations.
GRAMF Stock Performance
GRAMF stock closed at $0.272 on November 23rd down 3.72% in the last five days of trading. Currently, the stock has a 52-week price range of $0.249-$2.14 and is down 76.35% year to date. At the present time, analysts from Tip Ranks are offering an average price target for GRAMF Stock of $0.35 per share. In this case, this would represent a 28.68% change from its last trading price of $0.272.
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Red White & Bloom Brands Inc.
Red White & Bloom Brands Inc. intends to be one of the top cannabis companies in the country and to operate in numerous states. The company is largely focused on the legal cannabis and hemp industries and has retail locations in Michigan, Illinois, Massachusetts, Arizona, Florida, and California. RWB has purchased Acreage Holdings Inc.’s Florida division. RWB currently operates a 400-square-foot office, eight retail locations, and a 114,000-square-foot warehouse in Florida. In August 2021, the company will invest money in a 45,000-square-foot greenhouse on 4.7 acres of land in Florida. The purchase may provide the company with temporary growing capacity as it builds its 114,000-square-foot factory in Sanderson, Florida.
The second quarter of 2022’s financial statistics for RWB showed a 225% rise in revenue, from CDN $12.2 million to CDN $27.4 million. Overall revenues increased by 235% to CDN $55.4 million from CDN $23.6 million in the six months that ended on June 30th, 2022, with a gross margin of $16.1 million excluding biological assets. As a consequence of the cooperation that RWB and C3 Industries announced on June 15, the leading vape cartridge brand will be distributed in Missouri and Massachusetts in 2022. On January 18, the business announced that it had received permission to begin construction on a 15,000-square-foot marijuana manufacturing plant in Michigan.
RWBYF Stock Performance
RWBYF stock closed on November 23rd at $0.05 down 12.74% in the past five trading days. In this case, the stock has a 52-week price range of $0.04-$0.54 and is down 85.11% year to date.
Top Pot Penny Stocks For Your December Watchlist
Given the current state of the market, it might be difficult for investors to begin making long-term investments. In addition, Cannabis-related penny stocks are believed to have a higher risk-to-reward ratio. Before making an investment, you should conduct your own research on the company. A corporation’s press releases and financial reports may contain information on the leading companies in each field. In general, using technical indicators and learning more about chart patterns can help you trade more efficiently. These top marijuana stocks might be worth paying closer attention to right now because investors are preparing for higher volatility in 2022.
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