The best marijuana penny stocks to buy in December? 2 With analysts forecasting more than 300% increase

Top Cannabis Penny Stocks To Watch Out For In This Downtrend

Looking for the best marijuana stocks to buy for December 2021? In November, investors saw increased market volatility for the best cannabis stocks to watch. This week, one of the reasons for this market instability is linked to the discovery of the Omicron Covid-19 variant which is said to be more resistant to vaccines than the Delta variant. In addition to the new virus issues, there is also a possible catalyst for the top marijuana stocks in the Senate this week. – MarijuanaStocks

At present, there is a bipartisan push to keep the SAFE Bank Act attached to the NDAA. If successful, it could be the first federal cannabis reform law to be passed in 2021. One-way traders take advantage of this increased volatility by trading marijuana penny stocks. For investors unfamiliar with penny stocks, these are stocks that trade below the $ 5 share price.

In general, this area of ​​the market is known to be a high risk, high yield area that many investors prefer to trade in the short term. In 2021, major cannabis penny stocks rallied in the first quarter, setting new highs in February. Since then, the entire cannabis industry has spent 2021 experiencing market declines. As December approaches, most of the cannabis industry is trading near the lowest price seen this year.

Learn to trade Penny Stocks in 2021

For cannabis investors, this might be a good time to put together a watch list of the best penny pot stocks right now. Before investing in stocks, it is always important to do your due diligence. Researching a company’s earnings and studying how the stock is performing in the market can help you get the most out of your investments. Learning how to use technical analysis to establish market opportunities can help you trade more successfully. While we wait for a possible catalyst for the cannabis industry on Capitol Hill, let’s take a look at the top 2 marijuana penny stocks for your December watch list.

[Read More] 2 marijuana stocks to watch for next month in December

Top Cannabis Penny Stocks For Your Watchlist Right Now

  1. TPCO Holding Corp. (Over-the-counter: GRAMF)
  2. Greenlane Holdings, Inc. (NASDAQ: GNLN)

TPCO Holding Corp.

At present, TPCO Holding Corp. is one of the largest cannabis operators in California. Comprised of the direct sales platform Caliva and hemp maker Left Coast Ventures, TPCO also involved icon and entrepreneur Shawn Jay-Z Carter. Carter is primarily the Visionary Director and Brand Strategist for TPCO. In August, the company introduced Troy Datcher as the new CEO of the company. As it stands, Datcher’s appointment represents the first time that a black CEO will lead a large US public cannabis organization. In October, the company acquired Coastal Holdings Company, LLC, expanding its retail network to 11 operating stores and six delivery depots.

November 15e TPCO released its third quarter 2021 results with net sales of $ 39.7 million and gross margin of $ 6.1 million or 15% of revenue. In addition, the company incurred a third quarter adjusted EBITDA loss of $ 16.2 million. To close the third quarter of 2021, the company had cash and cash equivalents totaling $ 206.7 million.

CEO’s words

“My goal since arriving in September has been to accelerate the pace of our expansion across the state, increase our operational efficiency and attract talent to further strengthen our team. Our in-store presence has more than tripled since the start of 2021, now at over 80% coverage of the state’s adult population at the close of our signed acquisitions, we believe there is a significant opportunity for us to become the preferred choice of California consumers looking to access high quality cannabis products.

Troy Datcher, Chairman and CEO of the parent company

Performance of the gramf share

GRMF title closes on November 29e at $ 1.92, down 4.05% for the trading day. Currently, the stock has a 52-week price range of $ 1.86 to $ 13.96 and is down 81.04% year-to-date. According to a Tip Ranks analyst, GRMF stock has a 12-month average price target of $ 8.00 per share. This forecast would represent an increase of 316.88% from its current price of $ 1.92.

[Read More] The best US marijuana stocks to buy before December? 2 For your watchlist now

Greenlane Holdings, Inc.

Next up is Greenlane Holdings, Inc., one of the largest cannabis accessory companies serving the global industry. In general, the company sells premium cannabis accessories, child resistant packaging and specialty vaporizers in the US and international markets. Today, Greenlane has a customer base of over 11,000 points of sale around the world. This year, Greenlane completed the merger with KushCo Holdings, Inc. In October, the company reached an agreement to acquire DaVinci, a leading developer and manufacturer of premium portable vaporizers.GNLN

In November, the company reported financial results for the third quarter of 2021 with total revenue of $ 41.3 million, up 16% year-over-year. Greenlane reached its second highest level of sales for the Greenlane brands, which reached $ 8.4 million. Right now, the company is targeting $ 70-100 million in Greenlane brand revenue for 2022 and 2023. After Greenlane completes the acquisition of KushCo Holdings, the company could be one of the largest ancillary companies. of cannabis on the market.

GNLN share performance

GNLN share closes on November 29e at $ 1.22, down 28.65% last month. Currently, the stock has a 52-week price range of $ 1.20 to $ 8.73 and is down 69.19% year-to-date. According to CNN Business analysts, GNLN stock has a 12-month median price target of $ 5.00 per share. Essentially, that would be a 309.84% increase from its current price of $ 1.22.

[Read More] The best marijuana penny stocks to watch out for after Thanksgiving

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