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Best Marijuana Penny Stocks To Buy Mid-August? 2 Analysts Are Predicting Will See Gains

Are These Marijuana Penny Stocks On Your Watchlist This Week?

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This story originally appeared on MarijuanaStocks

Top Cannabis Penny Stocks And The Current Market

With so much uncertainty in the overall markets top marijuana stocks are starting the week with a pullback. Investors are concerned with a few events that are affecting how the best cannabis stocks to buy are trading. For one the quick takeover by the Taliban in Afghanistan after 20 years of US occupation has caused some market declines.  Also, new economic data out of China has caused concern over global economic growth in July.

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As the investors grow worried over these events the S&P 500 declined as well as the Dow and Nasdaq. Already in August top pot stocks are trading at some of their lowest market values of 2021. For investors looking for short-term plays in the market, marijuana penny stocks could have some upside from current trading levels. For those traders not familiar with penny stocks these are any stocks trading under the $5 mark.

Although cannabis penny stocks are considered high risk, they have also delivered significant returns earlier in the year. Now after declining in the market for several months many could rebound with better market sentiment. For the most part, cannabis companies have been reporting strong earnings in this latest round of financials. Although this has not helped them recover any market value so far this month it does show there is significant growth in the cannabis industry.

Finding The Right Penny Stocks In August 2021

Before investing in top marijuana stocks, it’s important for investors to do their research on a cannabis company. Studying how a stock performs in the market and doing your due diligence on a company can help you achieve the best results from a position. With marijuana penny stocks many investors prefer to use short-term trading methods like day trading, and swing trading to achieve returns.

[Read More] Best Marijuana Stocks To Buy After Earnings? 4 You Should Consider For Next Week

These methods usually have the investor starting a position and establishing profit targets and setting stop losses. One piece of advice many seasoned investors give is to always limit your losses once a trade does not do what you expected. Keeping your losses to a minimum in trades will help keep your portfolio in the green when you do get a winning trade. For investors looking for top marijuana penny stocks for their list this week, we can take a closer look at some pot stocks.

Best Marijuana Penny Stocks In 2021

  1. IM Cannabis Corp. (NASDAQ: IMCC)
  2. Cansortium Inc. (OTC: CNTMF)

IM Cannabis Corp.

IMC is a global operator in the medical and adult-use recreational cannabis sector, that supplies products to Israel, Germany, and Canada. Based in Israel, the company has established the IMC brand as a staple in the Israeli medical cannabis industry. Currently, IMC has expanded its business to offer services to the medical cannabis industry. The company operates in Europe through Adjupharm, a German-based subsidiary, and EU-GMP-certified medical cannabis distributor. Recently, IMC announced the completion of a state-of-the-art logistics center in Germany. Once it’s operating this facility will allow Adjupharm to streamline its supply chain including repackaging of bulk cannabis.

In August the company announced a partnership with cbdMD Inc. to launch cbdMD products in Israel. On August 16th IMC announced its Q2 2021 revenues of $11.1 million a 27% increase from Q1 2021. The company saw an adjusted EBITDA loss for Q2 2021 of $5.8 million.  The company is expecting significant revenue growth in the third quarter of 2021 from growth in Germany. Specifically, the company is resuming shipments at the start of the third quarter as well as the additional agreements to ensure the flow of EU-GMP supply.

IMCC stock is trading at $4.56 down 38.59% year to date. The penny stock has a 52-week price range of $0.784-$11.63 and is down 1.84% in the last five days. According to analysts at Tip Ranks IMCC has a 12-month average price target of $8.18 per share. In essence, this would represent a gain of 79.36% from its current trading price of $4.56.

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Cansortium Inc.

At the present time, Cansortium Inc. is a cannabis company focusing on providing the highest quality marijuana in the state of Florida. The company has established operations in Texas, Michigan, and Pennsylvania.  Recently the company has expanded its presence in Florida and Pennsylvania fully funded by a recent debt and equity financing of $90 million. In July, the company opened its newest dispensary in Deerfield, Florida. Currently, Cansortium has 26 operational dispensaries in Florida giving it a sizable presence in the state.

The company expects to have a total of 27 operational dispensaries by the end of 2021. Its brand the Fluent has produced a wide variety of premium dried flowers, edibles, and full-spectrum concentrates, cartridges, and creams. Additionally, Cansortium reaffirmed its annual 2021 guidance of revenue between $90-$100 million and adjusted EBITDA of $30-$35 million. On July 22nd CNTMF stock was welcomed into the OTCQX best markets from the OTCQB. The company is expected to deliver second-quarter 2021 results on August 23rd after the market close.CNTMF

CNTMF stock is trading on August 16th at $0.8105 down 4.34% in the past five days. The stock has a 52-week price range of $0.549-$1.35 and is up 5.58% year to date. According to analysts at Tip Ranks CNTMF stock has a 12-month average price target of $1.30 per share. Currently, this would represent an increase of 60.22% from its last trading price of $0.81.

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