At the present time, are you looking for top marijuana stocks to buy as they trade at their lowest price points in 2021? For the past nine months, investors have seen the best cannabis stocks to invest in decline from February highs. This drop in value is mostly because…
the US continues to delay marijuana legalization and banking reform on the federal level. At the beginning of the year, the cannabis sector rallied around the belief that Congress would pass some form of federal cannabis reform.
Since this has yet to happen investors continue to see the top pot stocks decline. One-way investors are taking advantage of these trading levels is by trading marijuana penny stocks. For those not familiar with penny stocks these are any stocks that trade under the $5 mark. This area of the market is known for being at higher risk with substantial market volatility.
Some investors trade cannabis penny stocks on a short-term basis using day trading and swing trading methods. By using the lower price points to establish larger position sizes they can produce profits as the stock’s price fluctuates. In the first quarter penny pot stocks rallied the most in the cannabis sector reaching new highs in February. Now as the best cannabis stocks trade at levels seen in 2020, they could be setting up for future upside.
Trading Penny Stocks And Making A Watchlist
Coming up with a game plan before making a trade is important when you make short-term investments. Studying a trade and knowing what your stop loss and profit-taking marks would be before getting in can help you become a better short-term trader. With the potential catalyst of marijuana legalization, we could see the cannabis sector rally in the next few months. Making a watchlist of penny stocks to trade is a good way to keep track of possible investments. Let’s take a closer look at 2 top marijuana penny stocks for your list before November.
Best Marijuana Penny Stocks To Watch Under $1 In November
Cansortium Inc. is a leading cannabis company focusing on providing the highest quality cannabis in the state of Florida. Specifically, the company has established operations in Texas, Michigan, and Pennsylvania. Recently, the company is expanding its presence in Florida and Pennsylvania fully funded by a debt and equity financing of $90 million. In September, the company opened a dispensary in Fruitland Park, Florida. As it stands, Cansortium has 27 operational dispensaries in Florida giving it a sizable presence in the state.
To highlight, the companies brand Fluent has produced a wide variety of premium dried flower, edibles, and full-spectrum concentrates, cartridges, and creams. Cansortium released its Q2 2021 results with revenue up 24% year over year to $16.5 million. Also important, the company reported an adjusted EBITDA of $5.2 million. The company saw adjusted gross profits increased 24% to $10.7 million or 65.1% of revenue. In August Fluent by Cansortium expanded its Florida cultivation with new greenhouse facilities in Homestead and Sweetwater.
CNTMF Stock Performance
As it stands, CNTMF stock closed on October 27th at $0.70 down 7.96% for the day. Currently, the stock has a 52-week price range of $0.45-$1.35 and is down 9.09% year to date. According to analysts at Tip Ranks CNTMF stock has a 12-month average price target of $1.30 per share. In this case, this would represent an upside of 58.19%.
Fire & Flower Holdings Corp.
Next on the list is Fire & Flower Holdings Corp. a leading adult-use cannabis retailer with more than 85 corporate-owned stores in its network in Canada. In general, the company’s wholly-owned technology development subsidiary, Hifyre Inc., is advancing its retail operations model. While also providing additional independent high-margin revenue streams for the company. Recently, Fire & Flower entered the U.S. cannabis market through a strategic licensing partnership with American Acres. In general, this licensing partnership and acquisition option with American Acres gives Fire & Flower entry into the…
Continue reading at GREENENTREPRENEUR.com