Cannabis Stocks In Q1 2022
Are you looking for top marijuana stocks in today’s market volatility? In January many of the best cannabis stocks to watch have declined to new lows as the year started. Because of these lower trading levels, many analysts are forecasting significant upside for top pot stocks. Specifically, one area that active traders take advantage of in a volatile market is marijuana penny stocks. Penny stocks are any stocks that trade under the $5 price point.
In general, this area of the cannabis sector is considered a higher risk-reward investment that many active traders prefer trading on a short-term basis. Specifically, some active traders use day trading and swing trading techniques to lock in gains with cannabis penny stocks. Because penny pot stocks trade at lower values investors can establish larger positions using less capital. This allows them to produce gains with smaller movements in the stock’s price variation.
Learning how to use trading tools to identify favorable trading patterns in the market can help you become a better active trader. In addition, looking into a company’s finances and press releases can help you find the best-performing businesses in the market. In addition, studying how a stock behaves in the market can allow you to establish the best entry points for your position.
Finding The Best Trades And Entry Points In The Cannabis Market
Presently, in the US many smaller cannabis companies are growing rapidly across the country. In 2021 some of these companies delivered strong revenue growth and expanded their presence in the US cannabis market. Although this did not translate into gains in the market it does show the growth potential for the industry.
Many analysts are forecasting the cannabis industry to more than double in size in the next five years. With top pot stocks testing new lows to start the year it could be time to start a watchlist of top marijuana penny stocks for 2022. For this reason, let’s look at 2 top cannabis penny stocks trading under the $2 price point right now.
Top Marijuana Penny Stocks Under $2 In January 2022
TPCO Holding Corp.
One of California’s largest cannabis companies is TPCO Holding Corp. The TPCO includes rapper and entrepreneur Shawn Jay-Z Carter, as well as Caliva, a direct-to-consumer platform, and Left Coast Ventures, a hemp manufacturer. Carter serves as TPCO’s Chief Visionary Officer and Chief Brand Strategist. Troy Datcher was appointed as the company’s new Chief Executive Officer in August. Datcher’s hiring is the first time a Black CEO has overseen a major publicly traded cannabis company in the United States. In October, Coastal Holdings Company, LLC was purchased, expanding the retail network of the company to 11 stores and six delivery depots.
For the third quarter of 2021, TPCO reported net sales of $39.7 million and a gross profit of $6.1 million, or 15% of revenue, in November. In addition, the company lost $16.2 million in Adjusted EBITDA in the third quarter. At the conclusion of Q3 2021, the company had $206.7 million in cash and equivalents. In November, Social Equity Ventures promoted Tiffany McBride to Managing Director and Kerry Arnold to Chief People Officer. GRAMF stock closed at $1.20 on January 19th up 4.35% in the past five days. Currently, the stock has a 52-week price range of $1.08-$11.99 and is down 73.33% in the past six months.
At the present time, Cansortium Inc. is a leading cannabis company in Florida that specializes in providing high-quality cannabis. Currently, the corporation has operations in Texas, Michigan, and Pennsylvania. With a $90 million loan and stock deal, Cansortium is expanding its reach in Florida and Pennsylvania this year. The company just opened a dispensary in Fruitland Park, Florida. Cansortium currently has 27 dispensaries in Florida, giving them a strong foothold in the state. Under the Fluent brand, for example, The Fluent has established a comprehensive line of high-quality dried flower, consumables, full-spectrum extracts, cartridges, and lotions.
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 $0.67 on January 19th up 5.35% in the past five trading days. Currently, the stock has a 52-week price range of $0.45-$1.35 and is down 11.77% in the last six months.
Words From The CEO
“We executed on several key initiatives during the quarter, including the opening of a new dispensary in Pennsylvania and two new dispensaries in Florida, bringing our total retail footprint to 29 stores. We also received approval from the Florida Department of Health to commence operation in several new bays at our recently expanded Sweetwater facility. In fact, products from Sweetwater hit the shelves in November as planned and early customer feedback has been excellent.”
CEO of Cansortium Robert Beasley