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2 Marijuana Penny Stocks To Watch Investors Are Adding To Their List Before August

Should You Be Watching Marijuana Penny Stocks Heading Into August?

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This story originally appeared on MarijuanaStocks

Investing In Penny Stocks In July 2021

Are you looking for the best ways to invest in top marijuana stocks right now? In 2021 the best cannabis stocks to buy have experienced extreme market volatility this year. In the first quarter, many top pot stocks rallied in the market until almost mid-February. After this initial upside, the cannabis sector has declined significantly and settled at much lower market values for the past few months. One area of the cannabis sector that showed the most upward momentum in 2021 is marijuana penny stocks.

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For those that don’t know penny stocks are any stocks that trade under the $5 price point. Early in 2021 top marijuana penny stocks delivered significant gains for investors. Although most have given back much of this upside there are a few events that may fuel pot stocks this year. For one federal cannabis legalization is heavily in the works with Chuck Schumer unveiling a draft of the long-awaited Cannabis Administration and Opportunity Act.

Another possible catalyst could be company earnings that are expected to be reported in the coming weeks. For the most, it seems top cannabis penny stocks have consolidated at these lower stock prices for quite some time and could be ready to begin rebounding in the market. Because of the volatility in this area of the market, it’s important for investors to research a company thoroughly before investing. Studying how a stock performs in the market and knowing a company’s financial health can help you establish the best investments.

Top Cannabis Penny Stocks And Market Volatility

With this in mind, we can take a deeper look at marijuana penny stocks that could be good for your portfolio. Currently, these top penny stocks trading near their lower price levels right now they may produce gains with better sentiment in the cannabis sector. As the US seems to be getting closer to establishing cannabis reform and legalization on the federal level, we could see some upside in top penny pot stocks as the year continues. For this reason, let’s look at 2 top marijuana penny stocks for your watchlist to close this week.

[Read More] 5 Top Ancillary Cannabis Stocks In 2021

Best Marijuana Penny Stocks For Your Watchlist

  1. Gage Growth Corp. (OTC:GAEGF)
  2. Harborside Inc. (OTC:HBORF)

Gage Growth Corp.

Gage is a leading high-quality premium cannabis brand that operates in Michigan. The company has 15 operating dispensaries in its retail portfolio. The company has been expanding in Michigan and announced it has entered into a growing agreement with a third-party Michigan cannabis licensed holder. As a result, Gage now has added its eleventh grower to the company’s portfolio for 2021. Furthermore, the company expects to add several more partners and expand its total cultivation facilities to 14 locations by the end of the year.

In July the company announced an exclusive partnership with multi-platinum-selling recording artist Wiz Khalifa’s brand Khalifa Kush. Specifically, Gage will develop and launch a line of premium cannabis products in Michigan with Khalifa. In its first-quarter 2021 results, the company reported record revenue of $17.6 million an increase of 219.4% year over year. The company ended the quarter with $43.6 million in cash. As a result, gross margins are up 26.1% in the first quarter compared to 17.3% sequentially.

GAEGF stock is trading at $1.86 on July 23rd down 5.91% in the last five days. In May GAEGF reached a high of $3.00 and has declined by 4.50% in the last month. According to analysts at Stock Invest GAEGF stock is expected to fall 10% during the next 3 months. This analysis is based on the current short-term trends of the stock. With this in mind, GAEGF stock could be a top marijuana penny stock to add to your watchlist before August.

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Harborside Inc.

A US cannabis veteran Harborside Inc. is one of the first California cannabis retailers to begin doing business in 2006. As one of the companies awarded one of the first six licenses granted in the United States Harborside is a pioneer in the industry. Currently, Harborside has six dispensaries focused in California and Oregon. In January the company released its preliminary full-year 2020 results in which they now expect gross revenue between $61-$63 million. Also important, the company expects a 2021 gross revenue of $68-$72 million.

As it stands Harborside was recognized for having exceptional curbside pickup and delivery service by readers in East Bay Express’s “Best of the East Bay 2021.” In March Harborside completed a $5 million strategic investment in LPF JV, LLC or Loudpack. In detail, Loudpack is a premier California cannabis company with a strong portfolio and presence in California. In July Harborside completed the acquisition of Sublime a California award-winning infused pre-roll brand. On July 19th the company announced management changes and has appointed Matt Hawkins as interim CEO and Ahmer Iqbal has been appointed Chief Operating Officer.Harborside

HBORF stock is trading at $1.2252 on July 23rd down 22.29% year to date.  In February HBORF stock reached a high of $2.54 and has gained 183.72% in its 1-year performance. According to analysts, Wallet Investor HBORF stock has a 1-year forecast price target of $1.65 per share. This would represent an increase of 34.69% from its current trading price of $1.2252. For this reason, HBORF stock could be a top cannabis penny stock under $2 to add to your list last week of July.

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