Top Marijuana Penny Stocks Vs Cryptocurrency, Which Investment Is Better In June?

Whis is a Better Investment In June? The Cannabis Market Or The Crypto Market
Top Marijuana Penny Stocks Vs Cryptocurrency, Which Investment Is Better In June?
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Finding The Best Investments In Marijuana Stocks

Are you looking for marijuana stocks to buy in June? One area of the market that may present investors with future gains is marijuana penny stocks. By definition, penny stocks are any stocks that are trading below the $5 share price. Traditionally this area of the market is known for extreme market volatility. Because of the price fluctuations with penny stocks most investors consider these stocks a high-risk high-reward investment.

During the past three months, the cannabis sector has been losing value in the market and could be showing some upside to begin June. Initially many cryptocurrencies have seen significant gains in the past few months. But at the end of May, most Crypto plays have taken a significant hit in value. Ultimately this has brought back many investors to the stock market. In order to take advantage of the lower price points, investors have to their due diligence to find the marijuana penny stocks that have the most possible gains going forward.

Generally speaking, traders usually research a company’s earnings and study their market patterns to find the best entry point for their investment. It’s always important to do your own research before investing to make sure you’re comfortable with the company you’re investing in. Since more investors prefer to trade penny stocks on a short-term basis these marijuana penny stocks could be good options for your watchlist this month.

Possible Catalyst For The Cannabis Sector

In June the economy seems to be improving with jobless claims dropping under 400k for the first time since March 2020. In addition, lawmakers have reintroduced the MORE Act on Capitol Hill which is a federal cannabis reform bill that could possibly catch some traction this time around on the house floor.

Also, with many Cryptocurrencies taking a hit right now more investors are focusing on the regular stock market for investing this week. All these factors could add momentum to marijuana penny stocks for the next few trading sessions. As it stands some Canadian cannabis penny stocks have seen significant upside so far in June. So, for many investors right now the question is whether to invest in marijuana penny stocks or cryptocurrency?

[Read More] Top Marijuana Stocks To Buy Right Now? 2 To Watch This Week

Currently, cannabis stocks have been consolidating at these levels for a few months. Because of this these marijuana penny stocks may have found a bottom and are ready to start climbing to higher levels. On the other hand, most cryptocurrencies have recently come from record highs and are declining in the market right now in June. With this in mind, marijuana penny stocks could offer a better chance of providing some gains in the market this month. For this reason, let’s take a look at 2 marijuana penny stocks to add to your watchlist this week.

Marijuana Penny Stocks To Watch

  1. Vireo Health International, Inc. (OTC:VREOF)
  2. Fire & Flower Holdings Corp. (OTC:FFLWF)

Vireo Health International, Inc

With a physician-led team Vireo Health International, Inc is a cannabis company focused on bringing the best technology, science, and engineering to the cannabis industry. Currently, the company manufactures branded cannabis products and distributes them through its network of Green Goods locations and other third-party dispensaries.  At the present time, Vireo has a total of 16 dispensaries across 5 states in the US. Additionally, the company has more licenses for future expansions into new markets.

In May Vireo announced its first-quarter 2021 financial results which show a Q1 GAAP revenue of $13.2 million. The company produced gross profit margins of $5.6 million up 42.6% year over year from improving operating efficiency across its core markets. During the quarter Vireo closed on the purchase of 4 cannabis licenses in Nevada. In detail, these licenses will allow the company to cultivate and produce cannabis products for the medical and recreational markets.

VREOF stock is trading at $2.32 on June 3rd at 1:40 pm EST up 59.51% year to date. During May the stock reached a high of $2.68 and is down 7.09% in the last five trading days. In the past six months, the stock has increased 103.45%. According to analysts at Tip Ranks VREOF stock has a 12-month average price target of $3.23 per share. This forecast would represent an increase of 43.10% from current levels. For this reason, VREOF stock could be a better marijuana penny stock to buy in June versus cryptocurrency investing.

[Read More] Investing In Marijuana Penny Stocks For June 2021? 2 To Watch Right Now

Fire & Flower Holdings Corp.

Another cannabis company that’s growing quickly in 2021 is Fire & Flower Holdings Corp. As an adult-use cannabis retailer, the company is focusing on the Canadian market and international expansion into new markets. Primarily, the company provides the best-in-class retailing and its HifyreTM digital platform connects consumers with cannabis products online. In February Fire & Flower announced it made an entry into the U.S. cannabis market through a strategic licensing partnership.

Specifically, the licensing partnership and acquisition option with American Acres provides Fire & Flower strategic entry into high-growth California, Arizona, and Nevada cannabis markets. In addition, Fire & Flower subsidiary Hifyre entered into a strategic agreement with leading U.S. analytics company BDSA. Allowing Hifyre IQ to become available in the U.S. cannabis market. Recently the company has also been expanding its free same-day delivery in Ontario, Canada. Ultimately, growing its presence in the Canadian market.fflwf

FFLWF stock is trading at $0.9402 on June 3rd at 1:54 pm EST up 40.76% year to date. In February FFLWF stock reached a high of $1.20 and is up 9.28% in the past five days. According to analysts at Market Beat FFLWF stock has a 12-month price target of $1.80 per share. In essence, this forecast represents an upside of 88% from current trading levels. With this in mind, FFLWF stock could be a top marijuana penny stock to buy over cryptocurrencies right now.

[Read More] A Federal Cannabis Reform Bill Is Set To Be Reintroduced This Week

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