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Best Marijuana Penny Stocks For September 2021? 2 For Reddit and Robinhood Investors

Could These Penny Pot Stocks Deliver Gains In September?

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This story originally appeared on MarijuanaStocks

Top Cannabis Stocks Right Now For Your Watchlist

Are you looking for top marijuana stocks to invest in for September? For more than six months the cannabis sector has seen a significant pull back from its February highs in 2021. Technically top cannabis stocks were fundamentally high in February and had interest from the institutional and retail investors in the first quarter. One factor that was expected earlier in the year is federal cannabis legalization. Now heading into

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September investors have found other areas of the market to invest in and pot stocks are trading near their lowest stock prices so far in 2021. One area that has seen significant declines in marijuana penny stocks. In the first quarter, top cannabis penny stocks saw significant gains in the market. For those not familiar with penny stocks these are any stocks trading under the $5 mark. Penny stocks are known to be a high-risk area of the market and many investors trade them on a short-term basis.

The outlook for the cannabis market is promising now with many new states legalizing cannabis and companies managing to take advantage of the growing industry. In the most recent earnings round leading cannabis companies reported strong revenue growth and we continue to see M&As as the main expansion method throughout the industry.

Making The Best Investing Decisions In The Cannabis Industry

For investors looking to start an investment in cannabis, it’s important to always do your due diligence. Trading the best marijuana penny stocks requires research into the companies and stock charts to find the best returns in the market. From these lower stock prices, many of the best cannabis penny stocks right now could be poised for a turnaround after weeks of significant losses. Although the markets are reaching new highs the cannabis sector has done the opposite with this downtrend. Now top marijuana penny stocks could have substantial value with another rally in the cannabis sector.

[Read More] 2 Cannabis Stocks To Watch Next Month As August Comes To A Close

Making a watchlist of the best pot stocks is a good way to keep potential cannabis plays on your radar. Heading into September we could see a turnaround in how the cannabis sector has been trading. One major catalyst to watch for would be federal cannabis legalization and reform from Congress. In the event, lawmakers introduce cannabis legislation we could see some upside in the market. Let’s look at 2 of the best marijuana penny stocks investors using Robinhood Markets, Inc. (NASDAQ: HOOD) and Reddit investors are watching in September.

Best Marijuana Penny Stocks To Watch In September 2021

  1. Greenlane Holdings, Inc. (NASDAQ: GNLN)
  2. Neptune Wellness Solutions Inc. (NASDAQ: NEPT)

Greenlane Holdings, Inc.

Greenlane Holdings, Inc. is one of the largest cannabis accessories companies serving the global market. Primarily, the company sells premium cannabis accessories, child-resistant packaging, and specialty vaporization products in the US and in the global market.  At the present time, Greenlane has a customer base of more than 11,000 retail locations across the globe. Recently, the company’s shareholders voted to approve the merger with KushCo Holdings, Inc. (OTC: KSHB). Specifically, the deal is an all-stock deal creating a new provider of cannabis ancillary products and packaging.

On August 17th Greenlane reported its second-quarter 2021 results with revenue of $34.7 million up 71% year over year. In addition, the company saw Q2 2021 core revenue of $34.5 million. Greenlane Brands sales grew to $9 million in Q2 2021 up 62.5% year over year. Now Greenlane Brands accounts for 25.9% of total revenue compared to 17.1% in Q2 2020. As a result, gross profits grew to $7.8 million up 22.4% from the previous year.GNLN

GNLN stock closed on August 30 at $2.61 up 17.57% in the past five trading days. The stock has a 52-week price range of $1.83-$8.73 and is down 34.09% year to date. According to analysts at CNN Business GNLN stock has a 12-month median price target of $5.00 per share. In essence, this would represent an upside of 92.31% from its last trading price of $2.61. With prospective returns GNLN stock could be a top cannabis penny stock for your list right now.

[Read More] 2 Marijuana Stocks To Watch Before Next Week

Neptune Wellness Solutions Inc.

In the Canadian market, Neptune Wellness Solutions Inc. completed a transition to a fully integrated consumer packaged goods company. At the present time, the company is launching a lineup of CBD beverages in the US including CBD-infused flavored teas and lemonades. Neptune is transitioning from a B2B cannabis and hemp extraction company to a consumer products company. Now, with a new focus on consumer products the company is providing cannabis, nutraceuticals, beauty, and personal care, and organic food & beverage products.

Additionally, in 2021 Neptune secured a supply agreement with Alberta Gaming, Liquor, and Cannabis expanding the company’s presence into over 1600 retailers in Canada. The company can now sell recreational cannabis products through its Mood Ring and PanHash brands across British Columbia, Alberta, Ontario, and Quebec. On August 12th Neptune’s delivered its first-quarter fiscal 2022 results with revenue of $12.4 million compared to $11.2 million year over year. Although still reporting a gross profit loss of $2.9 million this is an improvement from the $3.3 million In Q1 of fiscal 2021.NEPT Stock

NEPT stock closed on August 30th at $0.6592 down 18.23% in the past month. The stock has a 52-week price range of $0.55-$3.60 and is down 57.74% year to date. According to analysts at Tip Ranks NEPT stock has a 12-month average price target of $0.99 per share. Currently, this would be a gain of 50.18% from its last trading price of $0.66. With this in mind, NEPT stock could be a top marijuana penny stock for your list in September 2021.

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