The best marijuana stocks to watch right now? 2 Penny Pot Stocks for Your List in January

Top Cannabis Stocks to Watch as Market Volatility Rises

Are you looking for the best marijuana stocks to invest in for 2022? Like the 3rd week of January trading begins, investors are preparing for some volatility in the markets in general. This year, most of the cannabis sector is trading near new lows set in recent trades. Currently, there is a major factor that has caused the major cannabis stocks to fall and it mainly concerns the federal legalization and reform of marijuana.

Another factor that has reduced the value of the cannabis sector is a drop in sales during the summer and the fourth quarter of 2021. Now that the best pot stocks seem to have taken into account delays in federal cannabis reform , it might be time to find marijuana stocks for 2022. In the United States, the cannabis industry has seen significant growth since the start of the pandemic. Many leading companies have expanded rapidly into the growing US market as more states legalize cannabis.

In general, this growth has slowed somewhat in the latter part of 2021. But a recent improvement in the sales trend could signal a reversal of the slowdown in cannabis demand. In December, cannabis sales in states like Michigan increased significantly in the adult segment of the state. This sales trend can be seen in many new states that have recently opened adult cannabis sales.

Take Advantage of Price Fluctuations in Top Pot Stocks

One way to take advantage of increasing market volatility is to trade marijuana penny stocks. For those unfamiliar with penny stocks, these are all stocks that trade below the $5 benchmark. In general, this area of ​​cannabis stocks is known for its large price fluctuations and many active traders prefer to trade cannabis penny stocks in the short term. In general, active traders use day trading and swing trading techniques to generate gains by trading penny stocks. Although these transactions are considered higher risk investments, they can produce gains in this type of market environment.

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Before investing in the best cannabis penny stocks, it’s important to always do your own due diligence on a company. Researching a company’s financials and press releases can help you find the top performing companies in an industry. Additionally, following the movement of a penny stock in the market can help you establish the best entry levels for your positions. As we begin a new trading week for pot penny stocks, let’s take a look at 2 top marijuana stocks for your January 2022 watchlist.

Best Marijuana Penny Stocks For Your Watchlist This Month

  1. Jushi Holdings Inc. (OTC: JUSHF)
  2. Planet 13 Holdings Inc. (OTC: PLNHF)

Jushi Holdings Inc.

Jushi Holdings Inc. is a cannabis and hemp company with a growing presence in the medicinal and recreational marijuana sectors in the United States. The Company’s primary focus is to build a portfolio of branded cannabis and hemp products for the US market. Under the BEYOND/HELLO brand, Jushi operates 28 dispensaries in the United States. Jushi also has 31 retail licenses in the United States, and Beyond/Hello, its national cannabis dispensary brand, is expanding both online and in-store. In October, Sunstream Bancorp Inc. provided the company with a $100 million purchase facility. Additionally, in Virginia, the company launched its second outlet.

In November, Jushi reported third-quarter 2021 revenue of $54 million, up 116.7% year-over-year. The company’s net profit fell from $68.2 million to $38.2 million. Additionally, Jushi’s adjusted EBITDA improved by 124.9% to $6.4 million in the third quarter of 2020. As a result, the company’s gross profit increased by 99.6% to $24.5 million year over year. In Virginia, the company also launched new branded cannabis products. Jushi will launch its vape cartridges as well as its chewable brand Tasteology under the name The Lab. Jushi strengthened its presence in Nevada in the third quarter by selling flowers in Virginia. Jim Cacioppo, CEO, president and founder of the company, bought shares on January 10.

Performance of JUSHF shares

JUSHF stock closed at $4.05 on January 14and up 7.34% over the last five trading days. Currently, the stock has a 52-week price range of $3.03 to $9.063 and is up 19.47% in the last month of trading. According to analysts at Tip Ranks, JUSHF stock has a 12-month average price target of $8.57 per share. In this case, that’s up 111.71% from its last trading price of $4.05.

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Planet 13 Holdings Inc.

In 2021, Planet 13 officially opened its Orange County superstore, which is currently the largest dispensary complex in California. The company is based in Nevada and has received awards for its cultivation, production and dispensary operations on the Las Vegas Strip. Planet 13 is well known for its 112,000 square foot Superstore dispensary on the Las Vegas Strip. Currently, Planet 13’s two supermarket dispensaries are said to be the largest in the world. The Medezin store, a smaller replica of the company’s main store that incorporates the larger retail structure into a tiny dispensary, also opened.

Planet 13 reported third-quarter 2021 revenue of $33 million in November, up 45% year-over-year. Additionally, the company achieved adjusted EBITDA of $3.5 million in the third quarter of 2021. As a result, gross profit before adjustments was $17.6 million, or 53.5% of revenue. The company lost $10.2 million in the third quarter of 2021, compared to a profit of $0.2 million in the previous quarter. Tinley’s products will be offered as a line of cannabis-infused beverages, according to the company. Planet 13 has also taken the necessary steps to obtain a cannabis license in Florida. The company announced the acquisition of Next Green Wave Holdings in December, allowing it to expand its position in California by offering premium domestic production.

PLNHF stock performance

January 14and, PLNHF ended at $3.29, up 6.47% over the past five trading days. With a 52-week price range of $2.874 to $8.67, the stock has fallen 46.50% over the past six months. According to CNN Business experts, PLNHF stock has a consensus price target of $6.50 per share. This represents a 97.56% increase from the previous trading price of $3.29. As market volatility increases, these could be some of the best marijuana penny stocks for your list right now.

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The post Best Marijuana Stocks to Watch Right Now? 2 Penny Pot Stocks For Your List In January appeared first on Marijuana Stocks | Cannabis investments and news. Roots of a budding industry.(TM).

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Floyd N. Morlan