Momentum And Cannabis Penny Stocks Right Now
Are you looking for best marijuana stocks to buy in the coming week? Many of the greatest cannabis stocks to purchase have begun to gain traction after the revelation that Schumer would formally present the CAOA in the Senate next week. In general, the cannabis business may continue to thrive in July as Congress pursues cannabis reform legislation.
As a result of the steep losses in major marijuana stocks, many notable cannabis companies are now trading at penny stock levels. For new investors, penny stocks are any stocks that trade for less than the benchmark price of $5. Short-term trading is one way to profit from the current market volatility. Marijuana penny stocks are usually the most unpredictable cannabis investments.
Day and swing traders usually make the most money when trading in a market like this. Some long-term cannabis investors choose to supplement their major long-term investments with short-term trading strategies. As a result, they stand to benefit from daily price variations in the stock.
Although many analysts anticipate the cannabis business will continue to collapse, it may be time to pay attention to the cannabis penny stocks that are gaining traction. Because market volatility is predicted to remain high in 2022, let us take a closer look at four of the top marijuana penny stocks on your list.
Marijuana penny stocks performing well in July.
- TerrAscend Corporation (OTC: TRSSF)
- Clever Leaves Holdings Inc. (OTC: AAWH)
- Ascend Wellness Holdings Inc. (OTC: CLVR)
- MariMed, Inc. (OTC: MRMD)
TerrAscend cultivates and distributes marijuana in Canada and the United States for therapeutic and recreational purposes. The firm is a major cannabis grower in the United States, with operations in Pennsylvania, New Jersey, and California. The primary goals of the company are to manufacture and distribute artisan cannabis goods, as well as hemp and cannabis-infused products.
TerrAscend has created several products in Maryland under the Kind Tree brand. The Kind Tree brand is presently manufactured in 15 various flower types by the Maryland factory, and it will soon expand its product line to include vapes and half-gram pre-rolls.
The company announced net sales of $49.2 million for the first quarter of 2022 in May this year. The company also had a 30.5 per cent gross margin and a 38.4 per cent adjusted gross profit margin. The company’s adjusted EBITDA fell from $11.9 million in the previous quarter to $3.3 million in the fourth quarter of 2021.
Also Read: Where do Natural Marijuana Grow?
Gage Growth Corp. in Michigan was bought on March 10th, and the deal was completed in September. On January 5, TerrAscend named Ziad Ghanem president and COO. The firm stated on April 11th that it had purchased Allegany Medical Marijuana Dispensary, bringing its total number of retail sites to 27. The company debuted live resin crumble and liquid live resin vape cartridges in May, which are only available at New Jersey Apothecarium dispensaries.
TRSSF Share Price Performance
TRSSF closed at $2.58 on July 15th, up 11.72 per cent over the previous five trading days. The stock currently trades in a 52-week price range of $2.17-$9.40 and is down 57.44 per cent. TRSSF stock has a 12-month average price objective of $6.37 per share, according to Tip Ranks experts. This scenario would represent a 147.08 per cent increase over the last trade price of $2.58.
Ascend Wellness Holdings Inc.
AWH is a cannabis company that has operations in Massachusetts, New Jersey, Ohio, Illinois, Michigan, and Michigan. It is vertically integrated. AWH’s core business is owning and operating growing facilities that deliver award-winning strains and a carefully curated product line. Typically, the company manufactures and distributes products under the Ozone brand.
Flowers, pre-rolls, concentrates, vapes, edibles, and other cannabis-related products are among the cannabis product categories offered by the company. AWH operates 17 retail locations and sells to legal marijuana businesses. On May 11, MedMen Enterprises Inc. (OTC: MMNFF) and Ascend Wellness agreed to increase the purchase price of MedMen NY Inc., a subsidiary of that company, from $73 million to $88 million, subject to the commencement of adult-use sales at a MedMen NY facility.
In the first quarter of 2022, total company gross sales were $101.2 million, a 0.8 per cent decrease from the previous quarter but a 33.4 per cent increase from the previous year. Net revenue declined by 3.8 per cent quarter over quarter but climbed by 28.7 per cent year over year to $85.1 million when intercompany wholesale goods sales are excluded.
The company lost $27.8 million in the first quarter of 2022, up from $16.5 million the previous quarter. Ascend’s adjusted EBITDA was $16.4 million, indicating a 19.2 per cent margin. The company has $143.8 million in cash and cash equivalents and $89.9 million in net debt as of March 31, 2022. Following an exclusive agreement with Lowell Smokes, the company began distributing in Massachusetts and Michigan earlier this year.
Also Read: How Long do Marijuana Seeds Last?
Stock Performance of AAWH
AAWH stock closed at $2.55 on July 15th, up 21.43 per cent in the previous five trading days. The stock is currently trading in the $1.86-$15.81 range, down 61.16 per cent year. According to CNN Business analysts, the 12-month median price projection for AAWH stock is $8.50 per share. This scenario would represent a 233.32 per cent increase over the last trade price of $2.55.
Clever Leaves Holdings Inc.
Clever Leaves Holdings Inc. cultivates, extracts, manufactures, and distributes cannabis. Colombia, Portugal, Germany, the United States, and Canada are the nations where the company is actively active. The firm develops, produces, promotes, distributes, and sells homoeopathic and other natural remedies and goods for health and detoxification.
Clever Leaves aims to radically disrupt the cannabis manufacturing industry as it currently exists by employing industrial-scale, low-cost, ESG-friendly, ecologically friendly, and cost-effective production procedures and the world’s strictest medical-grade certifications. Clever Leaves revealed its first quarter 2022 results on May 12th, announcing revenues of $5.2 million, up 50% from the prior year’s period.
A $0.8 million inventory write-down was also included in the $2.0 million gross profit. The company lost $16.1 million in the first quarter, although its gross margin was 39%. A higher cost of sales, which included inventory write-downs, resulted in a $6.7 million loss in adjusted EBITDA. Clever Leaves expanded its Cantourage alliance in July, increasing its German presence.
Performance of the CLVR Stock
On July 15th, CLVR stock was trading at $1.23, up 13.89 per cent in the previous five trading days. The stock currently trades in a 52-week price range of $0.908-$12.40 and is down 60.32 per cent. CLVR stock has a consensus price objective of $2.70 per share, according to CNN Business experts. This projection indicates a 119.51 per cent gain over the last trade price of $1.23.
MariMed Inc. has expanded into a multi-state cannabis company with its chain of legally functioning dispensaries and retail sites. The company builds and runs state-licensed cannabis facilities from seed to sale. MariMed’s management team has a track record of success in its managed business segments. Some of the company’s best-selling and award-winning goods and brands include Betty’s Eddies(R), Nature’s HeritageTM, Bourne Baking Co., and Kalm Fusion(R).
MariMed created the world’s largest cannabis-infused brownie last year to commemorate the debut of its Buddy Baked brand. In May, the company earned a medal for manufacturing the world’s largest cannabis brownie. On March 8th, the company purchased a dispensary in Beverly, giving it a second retail presence in Massachusetts.
According to business numbers released on May 10, sales climbed by 27% in the first quarter of 2022. Retail dispensary operations showed a 41 per cent increase in revenue in the first quarter of 2021 due to establishing a new dispensary in Metropolis, Illinois, and expanding consumer numbers in Massachusetts and Illinois. Furthermore, revenue from wholesale operations increased by 6% compared to Q1 2021.
Furthermore, the company will reveal its second-quarter 2022 results after August 8th.
Performance of the MRMD Stock
On July 15th, MRMD stock was trading at $0.70, up 20.32 per cent in the previous five trading days. The stock is down 19.08 per cent yearly and has a 52-week price range of $0.40-$1.14. According to Tip Ranks analysts, the company has a $1.50 average price objective, representing a 114.29 per cent increase from its last trading price of $0.70.
Also Read: Top Marijuana Stocks Before August 2022?
Investing in Cannabis Stocks in July
You can uncover the best prospects in the industry by looking into a company’s finances and press releases. It is critical to conduct your research on a company before accepting employment. By becoming more competent at using technical indicators and chart patterns, you may be able to execute more profitable trades.
Because the cannabis sector is rapidly expanding domestically and internationally, so the current market condition may benefit short-term traders. Learning a range of trading strategies may come in handy during a downturn. These could be some of the best marijuana penny stocks to add to your portfolio in July 2022.