Best Cannabis Stocks To Buy Right Now? Pot Stock Declines In December 2021
For many top marijuana stocks to buy December has brought with it the lowest stocks prices seen in 2021. This has been mostly caused by delays in Congress with federal cannabis reform. In 2021 many cannabis companies have delivered strong earnings and continue expanding across the US on the state level. Although this has not translated into market gains it does show how fast the market is growing regardless of the current federal hold-ups.
In addition, on a global scale, many advances in other parts of the world are also contributing to the growth of the industry. For new investors top marijuana stocks could be good for your 2022 watchlist right now. Christmas week has started with another downtrend in cannabis stocks with many top pot stocks setting new 52-week lows this month. In 2021 cannabis stocks rallied at the beginning of the year reaching highs in February.
As we close out the year current declines could give cannabis stocks potential for 2022. Making a watchlist and following how a pot stock performs in the market can help you establish a good position. Researching leading cannabis companies and finding the best-performing ones is a good way to find investments. With the cannabis sector moving in correlation to federal policy it’s also important to know what’s going in the political realm that could affect the best marijuana stocks right now.
Finding The Best Po Stocks Before 2022
Before investing in cannabis stocks there are a few important factors to consider. For one top marijuana stocks are known to be volatile in the market. For this reason, more investors prefer trading them on a short-term basis using day trading and swing trading techniques. Although this is a good way to take advantage of short-term price moves there is also some long-term potential for pot stocks. As we start Christmas week let’s look at 2 top marijuana stocks for your watchlist in December.
Top Marijuana Stocks For Your Watchlist Before The New Year
WM Technology, Inc.
Weedmaps, a subsidiary of WM Technology, Inc., is an online listing marketplace and a major hub for cannabis consumers and businesses. The WM Business cloud-based SaaS solutions primarily serve as an operating system for cannabis retailers. In general, WM Business’ tools aid compliance with the cannabis industry’s complex and ever-changing regulations. Weedmaps announced a multi-year partnership with Kevin Durant’s Thirty-Five Ventures as well as a sponsorship deal with Boardroom earlier this year. Sprout, a leading cannabis CRM and marketing platform, was acquired by the company in September.
Weedmaps currently has approximately 18,000 business listings in the United States and an estimated 13.9 million monthly active users. The average monthly revenue per paying client has increased by 7% to $3817. The company reported $50.9 million in revenue for the third quarter of 2021 in November. On September 30, 2021, revenue in the United States increased by 46% year over year, with monthly active users reaching 13.9 million. Furthermore, gross profit was $48.8 million, and net profit was $49.2 million. WM’s revenue forecast for the fourth quarter of 2021 is $50-$52 million. In November, the company released a first-of-its-kind report on the cannabis industry in the United States.
MAPS Stock Performance
MAPS stock is trading at $6.19 on December 20th down 24.58% in the past month. Currently, the stock has a 52-week price range of $5.48- $29.50 and is down 51.21% year to date. According to analysts at CNN Business MAPS stock has a 12-month consensus price target of $14.50 per share. In essence, this would represent an upside of 135.39% from its current trading price. As a leader in the pursuit to end cannabis prohibition MAPS stock could be a top marijuana stock for your watchlist this week.
IM Cannabis Corp.
With operations in Israel, Germany, and Canada, IMC is now a global player in the medical and adult-use recreational cannabis industries. The IMC brand has become a standard in the Israeli medical cannabis market, according to the company, which is based in Israel. IMC is expanding its services to include the medical cannabis industry as a whole. In Europe, the company is represented by Adjupharm, a German-based subsidiary, and EU-GMP-certified medicinal cannabis distributor. In addition, the company announced the completion of a state-of-the-art logistics center in Germany, which is especially noteworthy. Adjupharm will be able to optimize its supply chain in the long run, including bulk cannabis repackaging, thanks to this facility.
IMC debuted WAGNERS Brand in Germany on December 7th, bringing premium indoor-grown Canadian cannabis to the country. In the third quarter, the company announced a partnership with cbdMD Inc. to launch cbdMD products in Israel. Additionally, on November 15th, IMC reported third-quarter 2021 earnings, with revenue of $14.4 million, up 30% from Q2 2021. In terms of specifics, the gross margin increased to 20% and is expected to rise until 2022. The company is starting shipments and further agreements to ensure the flow of EU-GMP supply at the start of the third quarter.
IMCC Stock Performance
IMCC stock is trading at $3.15 on December 20th down 6.40% in the past five trading days. The stock has a 52-week price range of $1.75-$11.63 and is up 41.13% in the last six months. According to analysts at Tip Ranks IMCC stock has a 12-month average price target of $7.59 per share. In this case, this would represent an upside of 140.19% from its last trading price.
MAPH Enterprises, LLC | (305) 414-0128 | 1501 Venera Ave, Coral Gables, FL 33146 | firstname.lastname@example.org