Best Cannabis Stocks To Watch With Current Market Volatility
As the possibility of another round of bills that may produce federal cannabis reform in 2022 begin top marijuana stocks to buy are experiencing extreme volatility. In January most of the best cannabis stocks declined to establish new 52-week lows to start the year. Now with some possible catalysts on the horizon, some top cannabis stocks began to see upside in the market. But in 2022 many analysts are forecasting a volatile year in the market.
One way to take advantage of current market volatility is by trading marijuana penny stocks. Penny stocks are any stocks that trade under the $5 stock price. In general marijuana penny stocks are considered high-risk trades that many investors prefer to trade on a short-term basis. Specifically, active traders use day trading and swing trading techniques to produce gains with penny stocks.
Although these trades may be more advanced, they can also produce gains or losses rapidly in the market. Learning to trade successfully is easier when the investors can identify favorable stock setups. In general, following how a stock performs in the market and having the patience to wait for the right trading pattern can increase your ability to make profitable trades.
Making Better Trades With Top Pot Stocks In 2022
Before investing in top cannabis penny stocks, it’s important to always do your research on a company. Looking into a company’s earnings and press releases can help you find the best companies to invest in. In addition, studying how a stock moves can allow you to make the best entries for your trades. As we continue seeing extreme volatility in the market let’s look at 3 top marijuana penny stocks for the second week in February.
[Read More] Top Marijuana Stocks To Watch For February 2022
Best Cannabis Penny Stocks For Your List In February
- Village Farms International, Inc. (NASDAQ: VFF)
- Columbia Care Inc. (OTC: CCHWF)
- Sundial Growers Inc. (NASDAQ: SNDL)
Village Farms International, Inc.
In North America, Village Farms International, Inc. and its subsidiaries grow, sell, and distribute greenhouse-grown tomatoes, bell peppers, and cucumbers. Additionally, the corporation is focusing its cannabis and CBD operations in Canada and the United States. Pure Sunfarms, a wholly-owned subsidiary of Village Farms, is one of the largest cannabis businesses in North America. Pure Sunfarms just received a cannabis cultivation license for a delta 2 greenhouse, boosting output capacity by 50%. Earlier this year, Village Farms unveiled a new corporate identity as well as a new website, www.villagefarms.com.
In November, Village Farm released its third-quarter results for 2021, which included another record-breaking quarter for Pure Sunfarms. Pure Sunfarms accounted for $27.4 million of the $31.2 million in cannabis sales, while Balanced Health Botanicals accounted for $3.8 million. Village Farms’ total revenues were accounted for by these two businesses, which accounted for 43 % of the company’s total revenue. The company stated on November 15th that it has purchased 70% of ROSE LifeScience, a Quebec-based company. ROSE is a vertically integrated, branded, and third-party provider specializing in the Quebec market.
VFF Stock Performance
VFF stock closed at $4.97 on February 3rd down 3.12% for the trading day. Currently, the stock has a 52-week price range of $4.97-$20.32 and is down 47.46% in the past six months. According to analysts at CNN Business VFF stock has a 12-month median price target of $18.23 per share. In this case, this would represent an upside of 266.06%% from its last trading price of $4.97.
Columbia Care Inc.
Columbia Care Inc. is primed for enormous growth in the state of New York. The company just purchased a 34-acre growing facility on Long Island, giving it one of the East Coast’s largest cannabis footprints. Columbia Care presently has 130 sites throughout 18 markets in the United States, including 99 dispensaries and 31 growing and processing facilities. The company opened its first location in Missouri, a Cannabis Dispensary, in October. This month, the company announced the opening of its third gLeaf dispensary in Virginia. Heavyweight champion Mike Tyson’s highly anticipated Tyson 2.0 Cannabis brand will also be arriving in Colorado, according to Columbia Care. On December 8th the company announced a rebranding in the Florida market and its retail locations. The company will soon launch its new Cannabist retail design and experience.
In the third quarter of 2021, Columbia Care announced record quarterly revenues of $132 million, up 144 percent year over year. The company posted a record quarterly Adjusted gross profit of $64.5 million, up 205 percent over the prior quarter. Columbia Care also achieved a new high of 49 percent Adjusted gross margin and $31 million Adjusted EBITDA, up 634 percent year over year. The company increased its revenue forecast for 2021 to $470-$485 million and adjusted EBITDA to $85-$95 million. In September, the company received state approval to rebrand its retail footprint across all its 14 Florida locations. On February 3rd the company opened its first dispensary in West Virginia the first of five locations planned for the state.
CCHWF Stock Performance
CCHWF stock closed on February 3rd at $2.73 down 5.86% for the trading day. Currently, the stock has a 52-week price range of $2.51-$7.89 and is down 43.13% in the past six months. According to analysts at Tip Ranks CCHWF stock has a 12-month average price target of $10.06 per share. In this case, this would represent an upside of 268.50% from its last trading price of $2.73.
Sundial Growers Inc.
Sundial Growers Inc. is a cannabis company based in Canada that cultivates and sells marijuana for adult use. The company now manufactures and distributes inhalable products like flower, pre-rolls, and vapes. Sundial has just released the first Canadian Caviar cone under the Top Leaf brand. According to the company, the Forbidden Lemon Caviar Cones will be the first caviar cone product to hit the Canadian market. With this introduction, Sundial’s concentrated innovation pipeline for premium inhalables in the Canadian cannabis industry has increased. Sundial announced its intention to purchase Alcanna, Canada’s largest private liquor retailer, in October.
Sundial announced an $11.3 million net profit and $10.5 million Adjusted EBITDA for the third quarter of 2021 in November. The cannabis sector had $14.4 million in net sales in the third quarter of 2021. Gross margins for the cannabis divisions were $1.8 million, compared to a loss of $19.5 million in Q3 2020. In the third quarter of 2021, the company earned $3.3 million in investment and fee revenue, $6.0 million in realized gains on securities, and $9.9 million in profit from equity account investments.
SNDL Stock Performance
SNDL stock closed at $0.485 on February 3rd up 6.97% for the day. The stock has a 52-week price range of $0.40-$3.96 and is down 16.13% year to date. According to analysts at CNN Business SNDL stock has a 12-month average price target of $0.84 per share. In this case, this would represent an upside of 73.83% from its last trading price of $0.485.