2 Cannabis Stocks With Price Targets Up To 248.3%

Are you watching the top marijuana stocks to buy continue to decline in the market? For the past nine months, the best cannabis stocks to invest in have been on a downward trajectory that has left them trading at much lower price points. One major factor that’s causing this downtrend is…

the delays in passing federal marijuana legalization and banking reform. For investors, this could be an opportunity to find pot stocks at much lower trading levels.

To start November US cannabis companies are delivering earnings that could continue to show growth in the market. In states like Illinois, adult-use cannabis sales were $123.4 million an increase of 64% year over year. Although Congress continues to push banking reform and cannabis prohibition back, legalization is happening on the state level. As a result, this is giving cannabis companies room to grow as new markets are created.

According to a recent BDSA report, US cannabis sales are forecast to surpass $24 billion in 2021. These sales are forecast to almost double by 2026. In general, the cannabis industry could be one of the fastest-growing markets investors will see for the next five years. At the present time, many retail investors have turned their focus on investing in cryptocurrency because it’s become a trend and is easier to trade than top US marijuana stocks.

Investing In US Marijuana Stocks In 2021

Because US cannabis companies are not federally legal, they are currently trading on the OTC Markets. This has limited their exposure to the growing pool of retail investors using apps like Robinhood Markets, Inc. (NASDAQ: HOOD), and WeBull. Although this has not allowed many investors to trade the sector if you trade on other platforms like E*TRADE and TD Ameritrade you are able to invest in over-the-counter cannabis stocks. But before investing in pot stocks there are some important factors to consider.

For one the best cannabis stocks to buy are known for having significant market volatility. This makes them a higher-risk investment that many traders prefer investing in on a short-term basis. In general, some traders use day trading and swing trading techniques for short-term gains from penny pot stocks. These are higher risk-reward investments, especially from lower penny stock price points. For those not familiar with penny stocks these are any stocks trading under the $5 price point. Let’s look at 2 top marijuana penny stocks to watch in November 2021.

Top Cannabis Penny Stocks For Your List This Month

  1. Jushi Holdings Inc. (OTC: JUSHF)
  2. Acreage Holdings, Inc. (OTC: ACRHF)

Jushi Holdings Inc.

Jushi Holdings Inc. is a cannabis and hemp company that is expanding its presence in the medical and recreational cannabis markets across the US. Primarily, the company is building a portfolio of branded cannabis and hemp-derived assets for the American market. At the present time, Jushi operates 26 dispensaries under the BEYOND/HELLO brand nationwide. In September, Jushi expanded its presence in Nevada and established a fourth operating dispensary in the state.  Additionally, Jushi has 31 retail licenses in the US, and its national brand of cannabis dispensaries Beyond/Hello continues to see growth online and in-store. On October 21, 2021, the company announced it secured a $100 million acquisition facility from Sunstream Bancorp Inc. In addition, the company opened its 2nd retail location in Virginia.

Jushi reported its second-quarter 2021 results with revenue of $47.7 million up 14.6% sequentially. In detail, the company produced a net income of $4.8 million and an adjusted EBITDA of $4.6 million. As a result, Jushi saw gross profits of $21.9 million and an increase of 193.7% year over year.  Also, the company launched new branded cannabis products in the commonwealth of Virginia. Jushi will debut its brand The Lab, vaporizable cartridges, and Tasteology its chewable line.

JUSHF Stock Performance

JUSHF stock closed on November 2nd at $3.71 down 8,24% in the past month. Currently, the stock has a 52-week price range of $2.73-$9.063 and is down 36.57% year to date. According to analysts at Tip Ranks JUSHF stock has a 12-month average price target of $6.91 per share. In essence, this would represent an upside of 85.95% from its last trading price of $3.71.

Acreage Holdings, Inc.

Next on the list is Acreage Holdings, Inc. a US multi-state operator with cannabis cultivation and retail facilities nationwide. Acreage has a partnership and a possible acquisition with Canadian giant Canopy Growth Corporation (NASDAQ: CGC). Subsequently, this partnership could make Acreage instrumental in the Canadian cannabis companies’ entry into the US cannabis industry. Acreage has established a large presence in…

 

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