Top Marijuana Stocks In June 2021
Are you looking for the best ways to invest in marijuana stocks for the summer of 2021? One area that has delivered short-term gains for investors this year is marijuana penny stocks. At the start of 2021, the cannabis sector experienced a rally that had much to do with US federal cannabis legalization. Now with several bills in Congress addressing federal cannabis reform we could see one of these bills pass into law this year.
In essence, this could produce significant gains for investors in the cannabis sector. For the past few months, most top marijuana stocks to buy have been losing value in the market. This has left them trading at values that could see substantial upside once the market improves. But before investing in penny stocks theirs a few factors to consider about these securities.
For one marijuana penny stocks are known to be extremely volatile in the market. This means they are known to have large fluctuations in stock prices during short periods of time. For investors, this means it’s very important to research and do your due diligence on a cannabis stock before investing. Getting familiar with the company you’re investing in and studying how the stock moves in the market are essential in establishing a good position for your investment.
Penny Stocks In 2021 And The Cannabis Sectors Volatility
In 2021 top marijuana penny stocks rallied in January and February delivering massive gains to investors that bought shares in 2020. Now after consolidating at current market values for a few months, it could be time to add these penny stocks to your watchlist in June. Because of the volatility in this part of the market many investors prefer to use short-term trading methods when trading marijuana penny stocks. In general, investors use day trading and swing trading methods to capitalize on the stock’s momentum in the market.
With this in mind, we can take a closer look at some of the marijuana penny stocks that could have potential returns. With the possibility of US federal policy change upon us an investment in these cannabis penny stocks could produce short-term gains for investors from recent trading levels. Going into July we could see top marijuana stocks begin to see upward momentum after months of trading at current levels. For this reason, let’s take a look at 2 top marijuana penny stocks to add to your watchlist this week.
Marijuana Stocks To Watch
The Valens Company Inc.
The Valens Company Inc. is exploring new areas of the cannabis market and entered the flower, pre-rolled categories of the industry. In detail, the company is introducing new edibles and concentrates in a partnership with Verse Cannabis. Traditionally, the company provides processing services, product development, and supplies consumer packaged goods for the cannabis industry. With this partnership, Valens will add a new dimension to its portfolio. Primarily, Valens specializes in the production of high-quality cannabis-derived products for both the medical and recreational cannabis markets.
In its first-quarter fiscal 2021 financials, the company delivered gross revenue of $21.8 million up 21.4% versus Q1 of 2020. Additionally, the company saw net revenue increase 24.7% to $16.0 million year over year. In 2021 Valens continues to establish its place as one of the largest third-party vape manufacturers in Canada. Currently, Valens has manufactured and distributed the second-best-selling vape SKU across the major markets in Canada. At the present time, Valens is establishing entry into the US market with the acquisition of a leading CBD company Green Roads.
VLNCF stock closed on June 22nd at $2.51 up 93.08% year to date. In May VLNCF stock reached a new high of $3.31 and is down 6.42% in the past five trading days. According to analysts at Tip Ranks VLNCF stock has a 12-month average price target of $3.35 per share. This price target represents an increase of 33.47% from its last trading price. For this reason, VLNCF stock could be one of the best marijuana penny stocks to buy in June.
Headquartered in Miami Cansortium Inc. is a cannabis company focusing on providing the highest quality marijuana in the state of Florida. At the present time, the company is establishing operations in Texas, Michigan, and Pennsylvania. In its first-quarter 2021 results, Cansortium reported revenue of $15.1 million up 49% from the prior year. Recently the company has expanded its presence in Florida and Pennsylvania fully funded by a recent debt and equity financing of $90 million.
As it stands, Cansortium has 24 operational dispensaries in Florida giving it a sizable presence in the state. Currently, the company expects to have a total of 27 operational dispensaries by the end of 2021. Specifically, its brand the Fluent has produced a wide variety of premium dried flowers, edibles, and full-spectrum concentrates cartridges, and creams. In addition, Cansortium reaffirmed its annual 2021 guidance of revenue between $90-$100 million and adjusted EBITDA of $30-$35 million.
CNTMF stock closed on June 22nd at $0.976 up 26.75% year to date. In April CNTMF stock reached a new high of $1.35 and is down 6.69% in the past five trading days. According to analysts at Market Beat have given VLNCF stock a consensus price target of $1.20 per share. In essence, this would represent an increase of 23% from its current trading level. With this in mind, CNTMF stock could be a top marijuana penny stock to buy before July.