2 Top Marijuana Penny Stocks To Watch In The Market Today

Are you looking for the best marijuana stocks to buy right now? Currently, in October the top cannabis stocks to invest in are trading near some of the lowest price points seen by investors so far this year. After more than seven months of declines…

the best pot stocks have begun to see increased volatility for the past few weeks. With most of the cannabis sector trading near their lower price points, this could be an opportunity for investors looking for short-term gains. One area that is known for having high market volatility is marijuana penny stocks.

Penny stocks are those equities that trade under the $5 mark. In general, these stocks are higher-risk investments but can deliver short-term gains for traders. Currently, many short-term traders use day trading and swing trading methods to produce gains in the market.  Overall, the lower prices of penny stocks allow investors to take a larger position with less capital.

This allows for positions that produce gains with smaller moves in the market. In 2021 cannabis penny stocks rallied in the first quarter seeing a significant upside starting the year. In general, this move higher was partly because investors believed the US would pass federal marijuana legalization this year. Now with the possibility that cannabis reform will not happen until 2022, the cannabis sector has dropped substantially.

Top Marijuana Stocks In Q4 2021 Under $1

But for new investors, this could be an opportunity to find top marijuana penny stocks at lower price points. With Congress currently focusing more on federal cannabis reform, there could be a catalyst for the sector in Q4 2021.  Before investing in pot stocks, it’s important to research and find the best-performing companies.

In general, researching a company’s financials and studying how the stock performs in the market can help you achieve the most returns from your investments. As more analysts start feeling the market could begin to rebound from these levels it could be time to start a watchlist of the best pot penny stocks to watch. With the possibility of US marijuana legalization and banking reform in the future, these could be the top marijuana penny stocks for your list right now.

Top Marijuana Penny Stocks To Watch Right Now

  1. Cansortium Inc. (OTC:CNTMF)
  2. MedMen Enterprises Inc. (OTC:MMNFF)

Cansortium Inc.

Cansortium Inc. is a leading cannabis company focusing on providing the highest quality cannabis in the state of Florida. In addition, the company has established operations in Texas, Michigan, and Pennsylvania. Primarily, the company is expanding its presence in Florida and Pennsylvania fully funded by a recent 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.

Additionally, its brand the Fluent has produced a wide variety of premium dried flower, edibles, and full-spectrum concentrates, cartridges, and creams. Consortium released its Q2 2021 results with revenue up 24% year over year to $16.5 million. Additionally, the company reported an adjusted EBITDA of $5.2 million. As a result, 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 closed on October 6th at $0.735 up 5.76% in the past five trading days. Currently, the stock has a 52-week price range of $0.45-$1.35 and is down 4.55% 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 76.87% from its last trading price.

MedMen Enterprises Inc.

At the present time, MedMen Enterprises Inc. is a cannabis retailer with locations in California, Nevada, Illinois, and Florida. Primarily, the company has an extensive selection of high-quality products, including MedMen-owned brands LuxLyte, and MedMen Red. Expanding in Florida the company opened a new location in…

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