Top Marijuana Penny Stocks To Watch After Thanksgiving

In November we have experienced significant market volatility for the top cannabis stocks to invest in. As pot stocks traded near the lowest levels seen this year an announcement from GOP lawmakers began to give the cannabis sector some…

upward momentum. This month the States Reform Act was introduced and became a catalyst for top marijuana stocks to move higher.

Although there are still some differences to iron out between Democrats and Republicans there is a bipartisan push currently for federal cannabis reform. In addition to the States Reform Act, a bipartisan House committee has also encouraged lawmakers to pass the Safe Banking Act attached to the NDAA. Either one of these legislation’s passing could be a catalyst for top cannabis stocks to close out 2021. One-way investors are taking advantage of the increased volatility is by trading marijuana penny stocks.

For those not familiar with penny stocks these are any stocks trading under the $5 stock price. In general penny stocks are known for being a higher risk-reward area of the market that many investors prefer to trade on a short-term basis. Some traders use day trading and swing trading techniques to produce gains with penny stocks. Because penny stocks trade at lower values investors can establish larger positions with less capital. This allows them to take advantage of the price fluctuations and profit as the stock moves in the market.

Learning To Trade Penny Stocks And Researching Companies

Before investing in top marijuana stocks, it’s always important to do your own due diligence before starting a position. Researching a company’s earnings and press releases can give you a better insight into the best-performing companies. In addition to looking into financial results following how a stock behaves in the market can help you establish the best returns on your investments. Learning to analyze chart patterns and using technical analysis to establish entry points can help you become a successful trader.

As we close out November there are several possible catalysts that could produce momentum in top cannabis stocks. Although there are currently delays in Congress to end federal cannabis prohibition, on the state level the US cannabis market is growing rapidly. With possible upside in the cannabis sector, it could be time to make a watchlist of the top marijuana stocks right now.

Best Marijuana Penny Stocks For Your Watchlist After Thanksgiving

  1. Glass House Brands Inc. (OTC: GLASF)
  2. Gage Growth Corp. (OTC: GAEGF)
  3. Harborside Inc. (OTC: HBORF)

Glass House Brands Inc.

Glass House Brands Inc. is one of the fastest-growing, vertically integrated cannabis and hemp companies in the U.S. In general, the company is focusing on the California market and building leading, lasting brands to serve consumers across all segments. Specifically, the company is doing this through its portfolio of brands, which includes Glass House Farms, Forbidden Flowers, and Mama Sue Wellness. In September the company completed a 5.5 million-square-foot Southern California greenhouse facility acquisition. The company also appointed Mark Vendetti as Chief Financial Officer.

On November 11th Glass House reputed its third-quarter 2021 results with net sales of $17.2 million up 29% from Q3 2020. In addition, the company’s house cannabis brand was the No. 1 ranked brand by sales in California in Q3 2021. Gross profit was $2.3 million and a gross margin of 14%. Year-to-date sales grew 63% to $51 million in Q3 2021 compared to $31.3 million in Q3 2020. The company ended Q3 with a cash balance of $28.9 million.

Gage Growth Corp.

Gage Growth Corp. provides branding and support services to affiliated licensed operators that produce, distribute, and sell cannabis and cannabis-related products in Michigan. At the present time, the company offers medical and adult-use cannabis in the state and was formerly known as Wolverine Partners Corp. Its portfolio includes the city and state approvals for 19 Class C cultivation licenses, three processing licenses, and 15 provisioning centers.

Earlier this year, Gage announced it will bring the iconic cannabis brand COOKIES to the Canadian cannabis market. In detail, COOKIES is one of the best-known cannabis brands in the world and has one of the largest footprints in the industry. The company announced an exclusive partnership with multi-platinum selling artist Wiz Khalifa’s brand. Specifically, Gage will develop and launch a line of…

 

Continue reading at GREENENTREPRENEUR.com

 

You May Also Like

About the Author: admin

Leave a Reply

Your email address will not be published.