Are Marijuana Penny Stocks A Good Investment Before July? 2 For Your Watchlist Right Now
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Investing In Top Marijuana Stocks In The Summer Of 2021
Are top marijuana stocks on your investment radar for 2021? If so many of the best cannabis stocks to invest in have seen significant declines in the market for the past 4 months. Currently, this could be a good time to find the top marijuana stock to buy in June. In particular, one area of the cannabis sector has shown significant gains in 2021.
In fact, in January and February marijuana penny stocks rallied in the market delivering substantial gains for investors. Since that time the cannabis sector has spiraled lower consolidating near current price points. At the present time, there are some cannabis reform bills floating around Capitol Hill.
In essence, this increases the possibility of US cannabis reform in 2021 and could also give top marijuana stocks to buy upward momentum. But before investing in cannabis stocks there are a few important factors to consider about the sector. For one marijuana penny stocks are known for being some of the most volatile stocks on the market. Because of this volatility, it’s important for investors to do due diligence on a cannabis company before investing.
Finding The Best Cannabis Stocks To Invest In Right Now
Ultimately researching a company’s financials and watching how the stock performs in the market can help you establish the best position for your investment. Because of penny stock fluctuation, a high entry point may be the difference between significant market gains and losing investments.
For the most part, more investors prefer to trade top marijuana penny stocks on a short-term basis. Currently, more investors use day trading and swing trading methods to capitalize off the volatility in the best cannabis penny stocks. With this in mind, we can take a closer look at some of the top marijuana penny stocks that may produce gains in the summer of 2021.
As it stands if federal legislation to reform or legalize cannabis is passed in the next few months this could start some new momentum. In general, many analysts believe the cannabis sector could start climbing back to February market highs. With this possibility, we may see significant upside for marijuana stocks. For the purpose of finding the best cannabis stocks in June let’s look at some leading marijuana penny stocks.
Marijuana Stocks To Watch
Charlotte’s Web Holdings, Inc.
In the US one of the market leaders in Hemp CBD wellness products is Charlotte’s Web Holdings, Inc. In fact, the company has held its leading industry position in the US market for quite some time. Primarily Charlotte’s Web has premium quality products that are made with American farm-grown hemp genetics and manufactured into hemp extracts. Currently, the company is the number one CBD brand in the U.S. with distribution through more than 22,000 retail locations across the US.
Charlotte’s Web released its first-quarter 2021 earnings with consolidated revenue of $23.4 million. In perspective, this is an increase of 9.1% compared to the $21.5 million the prior year. Also, the company’s, DTC eCommerce sales increased 14.5% year over year. These eCommerce sales have contributed 68.9% to first-quarter revenue. On June 21st the company appointed former Canopy Growth executive Tim Saunders to the board of directors. This follows another new appointment of Wes Booysen as Chief Financial Officer.
CWBHF stock is trading at $3.94 on June 22nd up 21.80% year to date. In February the stock reached a 52-week high of $7.00. According to analysts at Tip Ranks CWBHF stock has a 12-month average price target of $5.02 per share. In essence, this would represent an increase of 27.97% from its last trading price. For this reason, CWNHF stock is one of the best marijuana penny stocks to buy this summer.
MediPharm Labs Corp.
MediPharm Labs Corp. is a producer of purified, pharmaceutical-grade cannabis oil, concentrates, and advanced derivative products. Primarily, the company has built a wholesale and white label distribution platform that distributes cannabinoid-based products to the global market. Recently, MediPharms reported its first-quarter 2021 results with a gross profit of $0.68 million. At the present time the companies first quarter 2021 margins were negative because of lower production volumes and inventory. Specifically, MediPharms has a net loss of $0.07 per share in Q1 2021 an improvement from the Q4 2020 net loss of $0.21 per share.
In June MediPharms announced a strategic partnership with ADREX pharma to continue building its presence in Germany. In particular, the partnership will address the rising patient demand for cannabis in the German medical cannabis market. On June 21st MediPharms entered into an agreement with McMaster University to develop drugs that contain cannabis. In detail, the company will assist in investigating protocol and supply clinical trial material to support multiple tests.
MEDIF stock is trading at $0.373 on June 22nd down 5.92% year to date. In the past five trading days, the stock has lost 8.45% in trading. According to analysts at Market Beat MEDIF stock has a consensus price target of $0.92 per share. This would represent an increase of 138.3% from its current trading level. With this in mind, MEDIF stock could be one of the top marijuana penny stocks to buy in June.