Best Cannabis Stocks To Trade In September
Are you looking for the best marijuana stocks to buy as the market declines? One way cannabis investors are taking advantage of the current environment in the cannabis sector is by trading cannabis penny stocks. Any stock that trades for less than $5 is referred to as a penny stock, for the benefit of those who are unsure. These cannabis companies, which are infamous for their tremendous volatility in the present market environment, might produce substantial gains for short-term investors.
The cannabis market is forecast to grow by more than twofold during the next five years. The international cannabis market is one sector that will expand considerably. Many businesses nowadays have established themselves in various industries and are growing globally. Additionally, the Florida cannabis industry has grown and may soon become fully legal for recreational use. In August, some of these top cannabis stocks enjoyed gains. Cannabis investors are eagerly following US federal cannabis legislation as there are now many sponsors in Congress.
It seems like the market is getting ready for a drop during this week in September. Overall, this could provide cannabis investors with an additional opportunity to purchase premium marijuana stocks at reduced trading prices. Let’s take a look at three of the top marijuana stocks that have fallen this month as we start the fourth week of September.
Best Marijuana Penny Stocks For Your Watchlist Now
- IM Cannabis Corp. (NASDAQ: IMCC)
- Clever Leaves Holdings Inc. (NASDAQ: CLVR)
- Village Farms International, Inc. (NASDAQ: VFF)
IM Cannabis Corp.
IMC has operations in Israel, Germany, and Canada and is a world leader in the medical and adult-use recreational cannabis industry. The Israeli medical cannabis market has reportedly reached a significant milestone thanks to the IMC brand, claims the business. IMC is increasing the number of products it offers by including medicinal cannabis. The company is represented throughout Europe by Adjupharm, a subsidiary with a German headquarters and an EU-GMP-certified medicinal cannabis distributor. The corporation has made significant announcements regarding the debut of a state-of-the-art logistics facility in Germany. Adjupharm will be able to optimize its supply chain going forward with the aid of this facility, which will include repackaging cannabis in bulk.
IMC revealed its figures for the second quarter of 2022 on August 15th, with revenues rising 114% year over year to $23.8 million. Additionally, the total profit was $5.6 million prior to fair value adjustments. An increase from the same period in 2021, when 1,842 kilos of the dried flower were sold for $3.92, Q2 2022 had a total sales volume of 3,210 kilograms of dried flower at an average selling price per gram of $5.72. Comparatively, the company’s net loss increased from $18.98 million in the second quarter of 2022 to $5.01 million in the same period in 2021.
The company started to centralize the operations of its recently acquired businesses during the first quarter after completing four substantial acquisitions in Israel, including the biggest retail and online pharmacy business in the nation and a trade and distribution center with an IMC-GDP license. Adjupharm GmbH is one of the top ten marijuana businesses, with its IMC Hindu Kush type being the most popular T20 strain in Germany in May. May was the country’s biggest cannabis sales month so far.
IMCC Stock Performance
IMCC stock closed at $0.4452 on September 16th down 20.56% in the past month of trading. The stock has a 52-week price range of $0.366-$4.83 and is down 86.67% year to date. According to analysts at CNN Business IMCC stock has a median price target of $1.50 per share. In this case, this would represent an upside of 232.59% from its last trading price of $0.4452.
Clever Leaves Holdings Inc.
Marijuana is grown, extracted, manufactured, and distributed by Clever Leaves Holdings Inc. The company is currently active in numerous countries, including Colombia, Portugal, Germany, the US, and Canada. The business creates, produces, markets, distributes, and sells a range of homeopathic treatments as well as products for health and detoxification. Through the utilization of industrial-scale, inexpensive, ESG-friendly, ecologically friendly, and cost-effective production procedures, Clever Leaves seeks to radically disrupt the cannabis manufacturing sector as it is presently operating. The tightest medical-grade certifications in the world are integrated with these methods.
Results for the second quarter of 2022 were released by the corporation on August 11th. To show continued commercial success in target areas, revenue climbed 27% year over year to $4.7 million. Sales of non-cannabinoids increased by 9% to $3.4 million from $3.1 million, while cannabinoids’ revenue increased by 124% to $1.3 million from $0.6 million. In addition, gross profit was $1.3 million, which included a $1.3 million provision for inventory, as opposed to $1.8 million, which included a $0.6 million provision for inventory. Due to the sale of a portion of its minority ownership position in Cansativa, the company’s net loss was $1.0 million from $9.0 million, largely due to an investment gain of $6.9 million.
CLVR Stock Performance
CLVR stock is trading at $0.75 on September 16th down 12.78% in the past five trading days. Currently, the stock has a 52-week price range of $0.75-$8.97 and is down 75.81% year to date. According to analysts at CNN Business CLVR stock has a consensus price target of $3.00 per share. This forecast represents an increase of 292.88% from its last trading price of $0.75.
Village Farms International, Inc.
In North America, greenhouse-grown tomatoes, bell peppers, and cucumbers are produced, sold, and distributed by Village Farms International, Inc. and its affiliates. Additionally, the company operates in the US and Canada in relation to CBD and cannabis. Pure Sunfarms, a wholly owned subsidiary of Village Farms, is one of the largest cannabis companies in North America. Pure Sunfarms has a delta 2 greenhouse with a cannabis production license, doubling its output capacity. Village Farms introduced a brand-new website and logo at www.villagefarms.com last year.
According to the company’s financial report, which was made available to the public on August 9, total revenues for the second quarter of 2022 increased overall by 18% compared to the same quarter the previous year, reaching $82.9 million. Additionally, the Canadian cannabis company’s net revenues increased by 20% yearly and 37% sequentially to create a new quarterly high. The most well-known brand of dried flowers now sold in Canada is Pure Sunfarms. An impairment charge of $29.8 million for the goodwill and intangible assets of Balanced Health Botanicals was in the company’s reported combined net loss of $36.6 million, or $0.41 per share. As of March, Pure Sunfarms is set to export cannabis products to European markets after receiving EU GMP certification. Pure Sunfarms and NOYA will also import Cookie’s cannabis concentrates into Canada.
VFF Stock Performance
VFF stock closed at $2.41 on September 16th down 6.23% in the last five trading days. Currently, the stock has a 52-week price range of $2.40-$9.52 and is down 62.46% year to date. According to analysts at CNN Business VFF stock has a 12-month median price target of $5.50 per share. In this case, this would represent an upside of 129.17% from its last trading price of $2.41.
Investing In Top Penny Pot Stocks For September 2022
Reviewing a company’s financials and press releases can be helpful when trying to identify the businesses with the most potential. A firm needs to be thoroughly researched before starting a position. Your investing profits may increase as you become more adept at using technical indicators and chart patterns. Short-term traders may profit from them given the state of the market and the cannabis industry’s explosive local and global growth. It might be helpful for you to become familiar with a variety of trading tactics in this market environment. The top marijuana stocks to add to your watchlist for September 2022 might be those listed below.