Top Marijuana Penny Stocks To Watch Mid October

Cannabis has been legalized in Canada, which means investors need to be paying attention. Here are the top marijuana penny stocks to watch over the next few weeks.

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Are you seeking for the best marijuana stocks to buy in the fourth quarter of 2021? The cannabis industry has seen significant market reductions during the last eight months. This is mostly owing to Congress’ failure to pass marijuana legalization legislation earlier in the year. The SAFE Banking Act and the MORE Act were reintroduced and approved in the House in Q4. Although there is now a stalemate in the Senate since members are attempting to push their own measure.

It’s increasingly clear that federal marijuana legalization might happen in the next months. This might be a spark for the cannabis industry if there is a bipartisan movement to create legalization today. For the last few months, leading cannabis stocks in 2021 have been exhibiting tremendous volatility.

Trading marijuana penny stocks is one method that many more investors are taking advantage of the volatility. Penny stocks are those that trade for less than $5 per share. Day trading and swing trading are popular ways for investors to trade these equities on a short-term basis. Investors may create greater stakes with less cash since penny stocks trade at considerably lower price points. Because of the fast price fluctuations in this market, trading cannabis penny stocks is considered a high-risk investment.

Researching Leading Companies And Investing In Pot Stocks

It’s critical to do your own due research on a firm before investing in penny marijuana stocks. You can get the finest returns on your transactions by researching a company’s financial data and evaluating how the stock performs in the market. With leading marijuana penny stocks selling around their lowest levels since 2021, there may be room for more gains in the future. There might be a potential trigger in the works as the US Senate continues to work on marijuana legalization. In the past, the mere idea of federal marijuana legalization has sparked a significant increase in leading marijuana stocks.

It could be time to start compiling a list of the top marijuana penny stocks to purchase in 2021 in October. When cannabis stocks continue to rise, recent market value dips might provide investors with greater potential. The cannabis industry has been on a downward trend so far in October. Let’s take a look at two of the best marijuana penny stocks under $1 for your mid-October list.

Top Marijuana Penny Stocks to Watch in the Fourth Quarter of 2021

  1. Cansortium Inc. is a company that offers a variety of services. is a company that offers a variety of services (OTC:CNTMF)
  2. MedMen Enterprises Inc. is a company that specializes in the medical field. is a company that specializes in the medical field (OTC:MMNFF)

Cansortium Inc.

Cansortium Inc. is now a top cannabis firm in Florida that focuses on supplying the finest grade cannabis. The corporation has mostly set up shop in Texas, Michigan, and Pennsylvania. The firm is now growing its footprint in Florida and Pennsylvania with a $90 million loan and equity transaction. The firm launched a dispensary in Fruitland Park, Florida, in September. Cansortium now operates 27 dispensaries in Florida, providing them a significant presence in the state.

Fluent, the company’s brand, has also created a broad range of high-quality dried flower, edibles, full-spectrum extracts, cartridges, and lotions. Cansortium reported sales of $16.5 million in Q2 2021, up 24 percent year over year. In addition, the firm recorded a $5.2 million adjusted EBITDA. Adjusted gross profits climbed by 24 percent to $10.7 million, accounting for 65.1 percent of sales. Fluent by Cansortium added additional greenhouse facilities in Homestead and Sweetwater to its Florida operations in August.

CNTMF stock ended at $0.7385 on October 13th, up 9.44 percent over the previous month. The stock is now trading in a 52-week range of $0.45-$1.35, down 4.09 percent year to date. CNTMF stock has a 12-month average price objective of $1.30 per share, according to Tip Ranks experts. This would represent a 76.03 percent increase over the previous trade price.

MedMen Enterprises Inc.

MedMen Enterprises Inc., a cannabis store with outlets in California, Nevada, Illinois, and Florida, is ranked second on the list. Primarily, the firm offers a wide range of high-quality goods, including LuxLyte and MedMen Red, both of which are owned by MedMen. The firm has expanded in Florida, opening a new facility in South Beach, Miami, and continues to develop in the US cannabis industry. Tom Lynch, the current temporary Chief Executive Officer and Chairman of the Board of Directors of MedMen, was named the company’s permanent CEO. MedMen announced in October that LiHouse Farms has committed to supervise cultivation and manufacture for the MedMen Red private label brand.

MedMen announced sales of $42 million in the fourth quarter of fiscal 2021, up 55.4 percent year over year. The gross profit rate for the whole firm was 46.9%, up from 40.5 percent in Q3. MedMen’s net loss increased to $46.2 million from $9.7 million the prior quarter. The company’s net sales for fiscal year 2021 was $145.1 million, down 6.6 percent from the previous year. In fiscal 2021, MedMen had a net loss of $157.6 million, compared to a net loss of $526.5 million the previous year.

On October 13th, MMNFF shares finished at $0.27, down 9.09 percent over the previous month. The stock has a 52-week price range of $0.104-$1.47, with a year-to-date gain of 108.17 percent. MMNFF stock has an average price target of $0.35 per share, according to Market Beat analysts. In other words, this is a 27.7% increase over the previous trade price.

In the “best marijaus stocks 2021 reddit,” a user has compiled a list of top marijuana penny stocks to watch in October. The list is composed of companies that are expected to have an increase in earnings and/or revenue. Reference: best marijuanas stocks 2021 reddit.

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