Best Cannabis Stocks For Short Term Gains
Are you looking for ways to invest in marijuana stocks for 2022? This week began with some upside for top cannabis stocks, but yesterday’s FED meeting left most pot stocks declining to lower levels. In 2021 the cannabis sector found itself solely trading on the possibility of federal cannabis reform. Because no changes were made on the federal level top marijuana stocks ended the year establishing new lows in the market.
In general, this market volatility is common for the cannabis sector and many active investors have learned to take advantage of the price fluctuations with short-term trading strategies. Specifically, some active traders use day trading and swing trading techniques to produce profits with marijuana penny stocks. For those unfamiliar with penny stocks, these are any stocks that trade under the $5 price point. Known for substantial volatility cannabis penny stocks are considered a higher risk-reward investment.
Because of the lower stock prices, active traders can establish larger positions with less capital. Generally, this allows them to produce gains with smaller price swings in a stock’s daily fluctuations. In some cases, marijuana penny stocks can produce significant percentage gains on a daily or weekly basis. In 2021 during the first quarter, many top cannabis penny stocks rallied in the market showing triple-digit percentage gains in some cases.
Finding The Best Penny Pot Stocks To Buy In January
Now as the cannabis sector trades near new lows it could be time to make a watchlist of the best marijuana penny stocks for 2022. Before investing in top cannabis stocks, it’s important to do your own due diligence on a company. Researching a company’s earnings and press releases can help you narrow down the best-performing companies.
In addition, following how a stock moves in the market can allow you to establish the best entry points for your trades. Learning how to read chart patterns and find good trade setups can help you become a successful trader. As top cannabis stocks continue trading near 52-week lows let’s look at 2 top marijuana penny stocks for your watchlist in January 2022.
Best Marijuana Penny Stocks To Watch In January
Glass House Brands Inc.
Glass House Brands Inc. is a vertically integrated cannabis and hemp company in the United States that is one of the fastest-growing. The company is largely focused on the California market, where it is creating leading, long-lasting brands to meet the needs of customers in all categories. Specifically, Glass House Farms, Forbidden Flowers, and Mama Sue Wellness are just a few of the company’s brands accomplishing this. In September, the company purchased a 5.5 million square foot greenhouse facility in Southern California. The company has selected Mark Vendetti as Chief Financial Officer. In December, the business paid $25.6 million for PLUS, a major California edibles brand.
In November, Glass House announced third-quarter 2021 results, with net sales of $17.2 million, up 29% from Q3 2020. For example, the company’s in-house cannabis brand was the top-selling brand in California in Q3 2021. The total profit was $2.3 million, with a gross margin of 14 percent. Year-to-date revenues in Q3 2021 climbed by 63 percent to $51 million, compared to $31.3 million in Q3 2020. At the conclusion of the third quarter, the company had a cash balance of $28.9 million. On January 5th, GLASF stock closed at $3.50, down 3.85% for the trading day. For the previous few months, the stock has traded in a range of $3.43-$6.26.
Lowell Farms Inc.
Lowell Farms Inc is a California-based cannabis company that is quickly growing its market share. The company is primarily focused on developing an award-winning portfolio of licensed cannabis brands for cannabis consumers, as well as innovative production capabilities, artisan craft cannabis cultivation, and the development of an award-winning portfolio of licensed cannabis brands for cannabis consumers. The company has struck a licensing agreement with Ascend Wellness Holdings. The two companies will collaborate to provide the Lowell Smokes brand to Massachusetts and Illinois dispensaries. In November, Lowell and Ascend announced that the Lowell Smokes brand will be expanding to Michigan. According to the company, the well-known Lowell Smokes pre-roll packages will also be available in Illinois. Illinois citizens will now have access to Lowell Smokes at eight retail sites around the state.
In November, Lowell Farms announced financial statistics for the third quarter of 2021, reporting sales of $12.5 million, a $12 million decrease from the third quarter of 2020. Bulk flower sales fell 71 %, or $3.9 million, in the third quarter due to low wholesale pricing. For the quarter, the company experienced a $7 million operating loss and an $8.7 million net loss. In the third quarter of 2021, Lowell’s Adjusted EBITDA was minus $5.2 million. The company debuted a limited-edition Hash Wrap at the Hall of Flowers trade show in September. The shares of LOWLF closed at $0.30, on January 5th down 10.31% for the trading day. The stock is now trading in a 52-week price range of $0.285-$2.149, down 76.34% in the past six months.
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