If you’re looking for a penny stock to invest in, cannabis may be the best bet. With the legalization of marijuana and increasing demand for this product, these stocks could be worth your time.
The ev penny stocks under $1 is a question that has been asked many times. This week, I have 2 for your list.
In August 2021, the Top Marijuana Penny Stocks
Are you searching for top marijuana stocks to purchase as the stock market rises? The top cannabis stocks surged till February 10th in the first quarter. Since then, the cannabis industry has been on the slide for many months, and it is currently trading at its lowest market value of the year. One sector that experienced substantial increases in the first quarter of 2021 was marijuana penny stocks.
Penny stocks are officially defined as any stock that trades for less than $5 and are considered a high-risk investment. Currently, more investors are opting for short-term trading techniques such as swing trading and day trading to trade cannabis penny stocks. They may make money utilizing these trading techniques because of price swings and market instability. Leading cannabis businesses have reported significant revenue growth in previous earnings reports so far in 2021.
Although this has had little impact on how leading marijuana stocks trade, it does indicate that cannabis businesses are starting to perform better. On a state-by-state basis, the cannabis business in the United States is quickly expanding. Despite the fact that the federal government has yet to enact any cannabis reform legislation, they will have to do so soon. Many investors expected this would happen earlier in the year, which is why marijuana stocks are now on the down.
Before September, consider investing in penny stocks.
Earlier this year, several of the best marijuana penny stocks became famous meme stocks and skyrocketed in value. Following these increases, the value of these penny stocks plummeted. Finding the finest marijuana penny stocks to invest in necessitates some research on the main cannabis businesses for investors.
You can make the greatest investments for your portfolio by researching how a business is doing and monitoring how a stock moves in the market. As August draws to a close, it may be time to start compiling a list of the best marijuana penny stocks to keep an eye on in September. Despite recent losses in the cannabis industry, the stock market may see some upside as it hits new highs.
With September set to be one of the worst business months of the year, it may be difficult for the cannabis industry to make a return. If Congress chooses to go ahead with any kind of cannabis reform, it may be a catalyst for the cannabis industry to finish the year on a high note. These two top marijuana penny companies may be on your radar for September 2021, according to investors.
This Week’s Marijuana Penny Stocks to Watch
- Red White & Bloom Brands Inc. (OTC: RWBYF)
- MedMen Enterprises Inc. is a company that specializes in the medical field. is a company that specializes in the medical field (OTC: MMNFF)
Red White & Bloom Brands Inc.
In 2021 Red White & Bloom Brands Inc. is positioning itself to be one of the top multi-state operators in the US cannabis market. Primarily, the company is expanding in the legal cannabis and hemp markets with retail locations in Michigan, Illinois, Massachusetts, Arizona, Florida, and California. RWB made the acquisition of all Florida operations from Acreage Holdings Inc. (OTC: ACRHF). RWB will have 8 retail stores in prime locations in Florida, a 114,000 SQ. foot facility, and a 400 Sq. foot office building.
In addition, the firm completed the purchase of a 45,000 square foot greenhouse on 4.7 acres in Florida on August 4th. While the business works on its 114,000 square foot facility in Sanderson, Florida, the acquisition provides near-term cultivation capacity. RWB released its Q1 2021 financial results in July, with adjusted sales of $32.7 million, up 14.5 percent from Q4 2020. RWB stated that its Q2 2021 financials will be released after the closing on August 30th.
The shares of RWBYF ended at $0.6944 on August 22nd, down 28.82 percent in the previous month. The stock is up 16.07 percent year to date, with a 52-week price range of $0.6040-$1.65. RWBYF stock has a one-year price prediction of $1.161 per share, according to experts at Wallet Investor. In other words, from its latest trade price of $0.69, this would be a 67 percent gain. As a result, RWBYF stock may be a top cannabis stock to add to your list this week.
MedMen Enterprises Inc.
MedMen Enterprises Inc. is a cannabis store that now operates in California, Nevada, Illinois, and Florida. The business offers a wide range of high-quality goods, including LuxLyte and MedMen Red, both of which are owned by MedMen. The business just established a new facility in South Beach, Miami, Florida, and is continuing to grow in the US cannabis industry. Tom Lynch, MedMen’s current temporary CEO and Chairman of the Board of Directors, was named the company’s permanent CEO.
The company’s net revenue for the third quarter of fiscal 2021 was $31.7 million, up 2.8 percent over the previous quarter. In addition, MedMen’s overall revenue across all operations was $37.8 million, up $8.2 percent from the previous quarter. In the third quarter, the business reduced its net loss to $9.7 million. This is an improvement from the prior quarter’s net deficit of $68.9 million. MedMen’s revenue in the third quarter of 2021 is $32 million, compared to $44.1 million in the third quarter of 2020.
The shares of MMNFF ended at $0.3041 on August 23rd, up 15.85 percent in the previous five trading days. The stock is up 134.46 percent year to date, with a 52-week price range of $0.104-$1.47. The stock of MMNFF has a one-year price objective of $0.561 per share, according to experts at Wallet Investor. This is an increase of 84.54 percent over the previous trade price of $0.30. In light of this, MMNFF stock might be one of the finest cannabis penny stocks under $1 on your list.
The hemp penny stocks are cannabis penny stocks that trade under $1. There are 2 companies on the list this week.
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