Top Cannabis Stocks In July 2021
As we close out this week are the top marijuana stocks on your watchlist for July? From current trading values, many analysts believe the cannabis sector could see significant upside in the second half of the year. In the first quarter of 2021, the cannabis sector rallied on the belief cannabis would be federally legal sometime this year. Although this has yet to happen currently there are many lawmakers pushing for cannabis reform on Capitol Hill.
Also, recent comments from Supreme Court Justice Clarence Thomas on outdated federal cannabis policies have reignited attention to the need for federal policy change. One area of the cannabis sector that has seen tremendous upward momentum earlier in the year is marijuana penny stocks. For those not familiar with penny stocks according to the SEC, these are any stocks that trade under the $5 mark. Currently, penny stocks are heavily traded by retail investors. Since the pandemic, this pool of traders has grown substantially.
One particular platform that saw an influx of new investors is the popular investment app Robinhood. This retail fueled a surge in the market that propelled many leading penny stocks and meme stocks to new highs until around mid-February. That’s when a big decline in the overall markets has left many stocks trading at much lower levels than their February highs.
Understanding Cannabis Stocks And How They Perform In The Market
Before investing in marijuana penny stocks there are a few factors to consider about the sector. For one top cannabis stocks are known to be some of the more volatile securities on the market. This is especially true with penny stocks and investors who prefer to trade this area of the market using short-term trading methods because of the volatility. For new investors, it’s important to do your due diligence on a cannabis company before investing. This will help you establish the best possible position for your investments.
At the present time, there are a number of marijuana penny stocks to buy that could produce gains this year. With this in mind, we take a closer look at some well-positioned cannabis stocks trading under $2 per share. With some future potential for the cannabis sector, these could be ways to make some returns on marijuana penny stocks in the summer of 2021. Before we close out this week let’s take a look at 2 top marijuana penny stocks to watch before next week.
Marijuana Penny Stocks To Watch In July
4Front Ventures Corp.
4Front Ventures Corp is a national multi-state operator and retailer that has a market advantage in mass-produced low-cost quality branded cannabis products. The company distributes a high-quality portfolio of over 25 cannabis brands. At the present time, 4Front has operational dispensaries in Illinois, Massachusetts, California, Michigan, and Washington state. The company delivered first-quarter 2021 financials with Pro Forma revenue of $31.4 million and an increase of 26% over Q4 2020. In addition, the company delivered Q1 2021 Adjusted EBITDA of $5.9 million.
4Front reaffirmed its previous announcement of full-year 2021 guidance and estimates Systemwide Pro Forma Revenue of $170-180 million. The company expects an Adjusted EBITDA of $40-$50 million for 2021. Currently, the company is experiencing strong performance in sales that is exceeding its own expectations. 4Front has a state-of-the-art 170,000 square foot manufacturing facility in Commerce California that will help the company produce for the California cannabis market.
FFNTF stock is trading at $1.24 on July 9th up 35.87% year to date. In February FFNTF stock reached a high of $1.98 and has increased by 208.56% in its 1-year performance. According to analysts at Wallet Investor FFNTF stock has a 1-year forecast price target of $2.258 per share. This would represent an increase of 82.10% from its current trading price. For this reason, FFNTF stock is one of the best marijuana penny stocks to add to your list in July.
TILT Holdings Inc.
With a focus on the global market, TILT Holdings Inc. provides business solutions to cannabis companies building their brand on a global platform. The company provides its services to countries like the US, Canada, Israel, Mexico, South America, and the European Union. Presently TILT has a large portfolio of companies that provide technology, hardware, cultivation, and production for other top cannabis companies. The company supplies the U.S. and European medical cannabis markets with medical-grade inhalation devices.
TILT released its first-quarter 2021 financials with revenue of $46.8 million up 15% from the year prior. The company set record flower sales for March in Pennsylvania. Also important, TILT reaffirmed its guidance of revenue between $205-$210 million and adjusted EBITDA of $30-$32 million. At the present time TILT looks like it’s been improving its business model and expanding its presence in key cannabis markets.
TLLTF stock is trading at $0.48 on July 9th up 64.82% year to date. In February TLLTF stock reached a high of $0.75 and is down 11.50% in the last 30 days. According to analysts at Market Beat TLLTF stock has a consensus price target of $1.25 per share. In essence, this would represent an increase of 161.5% from its current trading price. With this in mind, TLLTF stock could be a top marijuana stock to buy in July.
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