As the stock market continues higher, are you looking for top marijuana stocks to buy? In the first quarter, the best cannabis stocks rallied until February 10th. Since that time the cannabis sector has…
declined for several months and is now trading near its lowest market value this year. In the first quarter of 2021 one area that saw significant gains is marijuana penny stocks.
Officially penny stocks are any stocks trading under the $5 stock price and are typically known for being a high-risk investment. Currently, more investors prefer trading cannabis penny stocks using short-term trading methods like swing trading, and day trading. Because of the price fluctuations and market volatility they can produce gains using these trading styles. So far in 2021 leading cannabis companies have been reporting strong revenue growth in recent earning reports.
Although this has not had any effect on how top marijuana stocks trade it does show cannabis companies are beginning to perform at a higher level. The US cannabis industry continues to grow rapidly on the state level. Although the federal government has not yet passed any cannabis reform bills, they will have to catch up eventually. Many investors believed this would have happened earlier in the year and is partly why pot stocks have pulled back right now.
Investing In Penny Stocks Before September
Earlier in the year some top marijuana penny stocks became popular meme stocks and gained substantial value in the market. After these gains, these penny stocks also experienced massive declines. For investors finding the best marijuana penny stocks to invest in requires some due diligence into the leading cannabis companies.
Researching how a company is performing and following how a stock moves in the market can help you make the best investments for your portfolio. As August comes to an end it could be time to start a watchlist of top marijuana penny stocks for September. Although the cannabis sector has been experiencing declines it could see some upside as the stock market reaches new highs.
Heading into September considered one of the worst trading months of the year it could be tough for the cannabis sector to stage a comeback. In the event, Congress decides to push forward with some form of cannabis reform this could become a catalyst for the cannabis sector to end the year. For investors making a watchlist, these 2 top marijuana penny stocks could be on the list for September 2021.
Top Marijuana Penny Stocks To Watch This Week
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, on August 4th the company closed the acquisition of a 45,000 sq ft greenhouse on 4.7 acres in Florida. The acquisition adds near-term cultivation capacity while the company works on its 114,0000 square foot facility in Sanderson Florida. In July RWB provided its Q1 2021 financial results with adjusted sales of $32.7 million an increase of 14.5% compared to Q4 2020. RWB announced it would release its Q2 2021 financials on August 30th after the close.
RWBYF stock closed on August 22nd at $0.6944 down 28.82% in the past month. The stock has a 52-week price range of $0.6040-$1.65 and is up 16.07% year to date. According to analysts at Wallet Investor RWBYF stock has a 1-year price forecast of $1.161 per share. In essence, this would represent an increase of 67% from its last trading price of $0.69. For this reason, RWBYF stock could be a top cannabis stock for your list for this week.
MedMen Enterprises Inc.
At the present time, MedMen Enterprises Inc. is a cannabis retailer with locations in California, Nevada, Illinois, and Florida. The company has an extensive selection of…
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