Best Cannabis Stocks For Your Watchlist In December
Are you looking for the best marijuana stocks to watch after Thanksgiving? In November the best cannabis stocks to buy are trading near some of the lowest value’s investors have seen this year. This comes as many leading companies deliver strong earnings this month and a few possible catalysts come from the government. In November we have seen a bipartisan push to establish a federal-state regulatory partnership and end federal cannabis prohibition. This has caused more market volatility with pot stocks. After showing some upside this month many top marijuana stocks to buy are trading much lower to close this week. One area of the market that is getting hit hard is Canadian marijuana stocks.
Because entry into the US cannabis market is essential for Canadian companies’ growth they are hardest hit by the delays in Congress. In addition, many international pot stocks have also sustained significant downside in November. This recent downtrend in the cannabis sector is creating an opportunity for new investors to get into the cannabis sector at the lowest entry points seen this year. Internationally the cannabis market is about to begin to grow rapidly for the next five years. According to a recent BDSA report, international markets are forecast to grow from $1.7 billion in 2021 to nearly $7.9 billion by 2026. This is expected to be driven by the markets in Mexico, Germany, and the U.K.
Investing In Pot Stocks In The Current Market
Before investing in cannabis stocks it’s important to always do your own research on a company and study how the stock performs in the market. One important factor to consider before investing in marijuana stocks is that the sector is known for significant market volatility. With the market currently being affected by a new Covid-19 variant coming from Africa, we could see more downside for top cannabis stocks to close this week. Let’s look at 3 top marijuana stocks to add to your watchlist for before December.
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Best Cannabis Stocks To Watch Right Now
- Village Farms International, Inc. (NASDAQ: VFF)
- IM Cannabis Corp. (NASDAQ: IMCC)
Village Farms International, Inc.
Village Farms International, Inc. and its subsidiaries, produce, market, and distributes greenhouse-grown tomatoes, bell peppers, and cucumbers in North America. The company is focusing on opportunities in the cannabis and CBD segments in Canada and the US. In general, Village Farms wholly-owned subsidiary Pure Sunfarms is one of the largest cannabis operations in North America. For instance, Pure Sunfarms received a cannabis cultivation license for a delta 2 greenhouse increasing production capacity by 50%. Earlier this year Village Farms unveiled new corporate branding and launches a new website www.villagefarms.com.
In November Village Farm delivered its third-quarter 2021 results with another record quarter for Pure Sunfarms. In detail, total cannabis sales were $31.2 million with Pure Sunfarms sales reaching $27.4 million and Balanced Health Botanicals with sales of $3.8 million. Specifically, these two subsidiaries combined comprised 43% of the total Village Farms sales. On November 15th the company announced it acquired 70% of Quebec-based ROSE LifeScience. Specifically, ROSE is a vertically integrated branded and third-party supplier to the Quebec market.
VFF stock is trading at $7.05 at 10:43 am EST. on November 26th down 4.14% for the trading day currently. Essentially the stock has a 52-week price range of $6.92-$20.32 establishing this new low in today’s trading. According to analysts at CNN Business VFF stock has a 12-month median price target of $18.23per share. In this case, this would represent an upside of 158.21% from its last trading price.
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IM Cannabis Corp.
At the present time, IMC is a global operator in the medical and adult-use recreational cannabis sector, that supplies products to Israel, Germany, and Canada. Based in Israel, the company has established the IMC brand as a staple in the Israeli medical cannabis market. In general, IMC is expanding its business to offer services to the medical cannabis industry. Overall, the company operates in the European market through Adjupharm, a German-based subsidiary, and EU-GMP-certified medical cannabis distributor. Most importantly, the company announced the completion of a state-of-the-art logistics center in Germany. In perspective, once it’s operating this facility will allow Adjupharm to streamline its supply chain including repackaging of bulk cannabis.
In the third quarter, the company announced a partnership with cbdMD Inc. to launch cbdMD products in Israel. On November 15th the company delivered its third-quarter 2021 earnings with revenue of $14.4 million up 30% from Q2 2021. In detail gross margin improved to 20% and is expected to continue to increase into 2022. Now, the company is resuming shipments at the start of the third quarter as well as the additional agreements to ensure the flow of EU-GMP supply.
IMCC stock is trading at $3.725 on November 26th down 13.37% to start the trading day. The stock has a 52-week price range of $1.50-$11.63 and is up 40.07% in the past five trading days. According to analysts at Tip Ranks IMCC stock has a 12-month average price target of $7.66 per share. In this case, this would represent an upside of 106.47% from its last trading price.
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