Top Cannabis Stocks For Short Term Active Traders
Are you looking for the best marijuana stocks to buy in 2022? In the new year, many top cannabis stocks have started off this year’s trading showing significant volatility. Right now, many top pot stocks are trading near new lows either established in December or in this week of trading. In general, the cannabis sector has been experiencing market declines since investors realized federal cannabis reform did not pass in 2021.
Although the cannabis sector has experienced declines on the state level cannabis companies have been growing rapidly in this same period. Many leading cannabis companies have continued to deliver strong financials and are using M&As to quickly expand into new markets. Although this has not translated into gains in the market it does show the future potential for the cannabis industry.
According to a recent report from Statista, US cannabis sales of legal recreational marijuana are forecast to reach $25 billion by 2025. In 2021 these figures are estimated at $14.9 billion showing significant growth potential. Because currently, it seems the cannabis sector is factoring in the possibility of not getting federal marijuana legalization in 2022, we could begin to see the sector trading on fundamentals instead of just legalization.
Researching The Best Pot Stocks In January 2022
In general, before investing in cannabis stocks, it’s important to do your own due diligence on a company before investing. Researching a company’s financials and studying how a stock behaves in the market can help you become a successful trader. In general, learning how to use trading tools and be able to identify a good trade setup is important when trading marijuana stocks. One area that has shown significant market volatility is marijuana penny stocks.
For those investors not familiar with penny stocks these are any stocks trading under the $5 price point. Known for having substantial price fluctuations many investors prefer trading these for short-term gains. Because of the lower price points, active traders take larger positions with less capital and can see gains from smaller changes in stock price. Although this area of the market is a high-risk area it could offer significant short-term gains for day traders and swing traders. For this reason, let’s look at 2 top marijuana penny stocks for your list next week.
Top Cannabis Stocks To Watch Second Week In January 2022
Harborside Inc. was one of the first six companies in the United States to receive a license. The company now operates six dispensaries in California and Oregon. Harborside began growing its footprint in 2021 and is expected to continue to do so in the California market. Harborside has completed renovations to its Salinas growing facility, increasing yearly cultivation capacity by more than half, and allowing for year-round production. The company established a retail relationship with RNBW, a new premium cannabis brand. Specifically creating a collaboration with music icon Insomniac, in October.
Harborside’s total gross revenue for the third quarter of 2021 was $17.9 million, up 10.4% from the previous quarter. In addition, the company’s Adjusted EBITDA increased by 28.2 percent over the previous quarter to $1.5 million. In addition, Sublime and Accucanna LLC was acquired by the company. Harborside made $9.2 million in retail sales in Q3 2021, $2.8 million in wholesale revenue, and $5.9 million in manufacturing revenue. Consequently, the company had a $5.4 million profit in the third quarter of 2021. HBORF stock is trading at $0.3995 on January 7th up 5.13% for the trading day. Currently, the stock has a 52-week price range of $0.299-$2.54 and is down 78.16% in the past six months.
TILT Holdings Inc.
TILT Holdings Inc., with a focus on worldwide markets, offers business solutions to cannabis entrepreneurs looking to develop a global brand. The firm primarily serves nations such as the United States, Canada, Israel, Mexico, South America, and the European Union. To emphasize, TILT has a substantial portfolio of companies that supply technology, hardware, cultivation, and manufacturing to other leading cannabis businesses. Overall, the company provides medical-grade inhalation devices to the medicinal cannabis markets in the United States and Europe.
In November TILT delivered its third-quarter 2021 results with record quarterly revenue of $53.4 million up 37% year over year. Specifically, cannabis revenue increased 19% to $11.2 million. Additionally, inhalation and accessory revenue were up 42% to $42.1 million year over year. As a result, gross profit before fair value adjustments increased to $12.7 million or 23.7% of revenue. TILT has an Adjusted EBITDA of $5 million in Q3 2021 compared to $5.1 million in Q3 2020. In addition, the company announced a partnership with Shinnecock Indian Nation to make an entrance into the New York cannabis market. TLLTF stock is trading at $0.241 on January 7th down 4.3651% for the trading day. The stock has a 52-week price range of $0.19-$0.75 and down48.54% in the last six months.