Top Marijuana Stocks In Q1 2022
Are you looking for top marijuana stocks to buy while the sector is down? For the first week in January top cannabis stocks have seen significant market volatility. Since February of 2021, the cannabis sector has seen declines mainly because of delays with federal cannabis reform. Although the Senate failed to pass federal marijuana legalization in 2021 states have collected over $10 billion from adult-use marijuana tax revenue. This amount will continue to increase as more states legalize cannabis use in 2022. In addition, many leading cannabis companies continue to report strong earnings and are expanding rapidly across the US.
For the most part, US MSOs have substantial growing room for the next five years. As the market continues to expand top cannabis stocks are trading near the lowest values seen in the past year. It could be time to make a watchlist of top marijuana stocks for 2022. One area to watch during times of volatility is marijuana penny stocks. Penny stocks are any stocks that trade under the $5 price point. In the cannabis sector, these stocks are known to be the most volatile and considered a higher risk-reward trade. For this reason, many investors prefer trading them on a short-term basis.
US Penny Pot Stocks And Finding The Best Trades
Some active traders use day trading and swing trading techniques to produce profits with marijuana penny stocks. In some cases, investors take advantage of the lower price points to take larger positions that can produce short-term gains with smaller price fluctuations. Many analysts currently predict 2022 to be somewhat more volatile than last year. Currently, it seems the cannabis sector is pricing the possibility that the cannabis industry may not see federal marijuana legalization in 2022. Because of this if Congress does finally pass some form of cannabis reform, we could see a major rally with the best marijuana penny stocks for 2022.
[Read More] Top 10 Marijuana Stocks For Your 2022 Watchlist
As we close the first week of trading for top marijuana stocks this current downtrend could be an opportunity for cannabis investors. It’s always important to do your research on a company and investigate its earnings and press releases. In addition, studying how a stock performs in the market can help you establish the best entry-level for your investment. Let’s look at 2 top US cannabis penny stocks for your 2022 watchlist.
Best Marijuana Penny Stocks For Your 2022 List Right Now
TPCO Holding Corp.
TPCO Holding Corp. is one of California’s largest cannabis enterprises. Shawn Jay-Z Carter, an icon and entrepreneur, as well as Caliva, a direct-to-consumer platform, and Left Coast Ventures, a hemp producer, are all members of the TPCO. TPCO’s Chief Visionary Officer and Chief Brand Strategist are Carter. In August, Troy Datcher was named the company’s new Chief Executive Officer. Datcher’s appointment is the first time in the United States that a Black CEO has led a major publicly traded cannabis company. Coastal Holdings Company, LLC was bought in October, bringing the company’s retail network to 11 locations and six delivery depots.
In November, TPCO announced net sales of $39.7 million and a gross profit of $6.1 million, or 15% of revenue, for the third quarter of 2021. In addition, in the third quarter, the company lost $16.2 million in Adjusted EBITDA. The company had $206.7 million in cash and equivalents at the end of Q3 2021. Tiffany McBride was appointed to Managing Director and Kerry Arnold was appointed to Chief People Officer at Social Equity Ventures in November. GRAMF stock closed at $1.32 on January 7th down 5.04% in the past five days. Currently, the stock has a 52-week price range of $1.25-$13.962 and is down 76% in the past six months.
Cansortium Inc. is a top cannabis company in Florida that focuses on supplying the finest grade cannabis. The company has currently established operations in Texas, Michigan, and Pennsylvania. Cansortium is extending its footprint in Florida and Pennsylvania this year, with a $90 million loan and equity transaction. In Fruitland Park, Florida, the company just built a dispensary. Cansortium now operates 27 dispensaries in Florida, providing them a significant presence in the state. The Fluent, for example, has created a comprehensive range of quality dried flower, edibles, full-spectrum extracts, cartridges, and creams under the Fluent brand.
In November, the company reported $15.6 million in sales and $4.9 million in Adjusted EBITDA for the third quarter of 2021. The state of Florida had a $13.1 million increase in revenue. Consequently, the business had an adjusted gross profit of $9.8 million, or $62.7 million in sales. Fluent by Cansortium has extended its Florida cultivation with additional greenhouse facilities in Homestead and Sweetwater. CNTMF stock closed at $0.6403 on January 7th down 4.45% in the past five trading days. Currently, the stock has a 52-week price range of $0.45-$1.35 and is down 30.93% in the last six months.