The best marijuana penny stocks to watch out for right now? 2 With upside potential from analysts

Main cannabis stocks in 2021 and federal cannabis reform

Are you looking for the best stocks of marijuana to buy this November week? Since the announcement of GOP legislation, the State Reform Act presented to Congress, we have seen some activity with major stocks of cannabis. At first, marijuana stocks started showing some upside on the initial announcement, but now that upward momentum has faded. – MarijuanaStocks

To wrap up last week, lawmakers in Washington DC gathered to pass bills that would legalize recreational marijuana and expand medical cannabis in the district. As the market continues to climb this week, many pot stocks are trading near the lowest prices they have seen this year. For new investors, this could be an opportunity to find the best marijuana stocks at a better value. As the potential to achieve federal cannabis reform increases, cannabis stocks may rebound to these lower levels.

One-way investors take advantage of the increased price volatility by trading marijuana penny stocks. For those unfamiliar with penny stocks, these are all stocks trading under $ 5. Considered a higher risk-reward investment, many investors trade short-term cannabis penny stocks. Usually they use day trading and swing trading methods to generate gains in the market. Finding the best companies to invest in by looking at their earnings and press releases can help you narrow down the list.

Study the best pot stocks on the market

Additionally, tracking the performance of a marijuana stock in the market can help you find the best entry points to establish the highest returns. Learning to read chart patterns and use tracking tools can help you achieve better trading success rates. As we move forward into Thanksgiving week, it might be time to start a watchlist of the best marijuana stocks right now. Let’s take a look at 2 of the best cannabis penny stocks to watch this week.

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Best Marijuana Penny Stocks in Q4 2021

  1. Columbia Care Inc. (OTC: CCHWF)
  2. Cansortium inc. (OTC: CNMTF)

Columbia Care Inc.

First and foremost, Columbia Care Inc. is positioned to grow significantly in New York State. Recently, the company acquired a 34-acre grow site on Long Island, which has given the company one of the largest cannabis footprints to serve the East Coast market. Currently, Columbia Care operates in 18 US markets and operates 130 facilities, including 99 dispensaries and 31 growing and manufacturing facilities. In October, the company opened a cannabis dispensary in Missouri, its first location in the state. November 8e the company announced that it has opened its third dispensary in virginia under the gLeaf brand. November 18e Columbia Care has announced the arrival of the highly anticipated Tyson 2.0 Cannabis brand from heavyweight champion Mike Tyson to Colorado.CCHWF

Columbia Care released its third quarter 2021 results with record quarterly revenue of $ 132 million, up 144% year-over-year. In detail, the company posted record quarterly adjusted gross profit of $ 64.5 million, a 205% year-over-year increase. In addition, the company had an adjusted gross margin of 49% and a record Adjusted EBITDA of $ 31 million, up 634% year over year. The company revised its guidance for 2021 to $ 470-485 million and its adjusted EBITDA from $ 85 million to $ 95 million. Recently, Columbia Care appointed Phillip Goldberg of Green Leaf Medical to its board of directors. In September, the company received state approval to rename its business footprint across all of its 14 locations in Florida.

CEO’s words

“We are delighted to report accelerating momentum and another record quarter for Columbia Care as fundamentals continue to improve and we execute on our national strategy. With sequential revenue growth of over 20%, Columbia Care continued to outperform the market while maintaining margin discipline to achieve record business profitability, resulting in increased EBITDA margin and increased profitability. gross margin for the quarter. “

Nicholas Vita, CEO of Columbia Care.

Return on CCHWF shares

Closing of the CCHWF title on November 19e at $ 2.95, down 15.71% over the past five trading days. The stock has a 52-week price range of $ 2.83 to $ 7.89 and is down 51.44% year-to-date. According to analysts at Tip Ranks, CCHWF stock has a 12-month average price target of $ 8.29 per share. Essentially, that would be an increase of 181.02% from its last trading price of $ 2.95.

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Cansortium inc.

Cansortium Inc. is a leading cannabis company focused on providing the highest quality cannabis in the State of Florida. At present, the company has established operations in Texas, Michigan and Pennsylvania. This year, the company is expanding its presence in Florida and Pennsylvania, which is fully funded by $ 90 million in debt and equity financing. Recently, the company opened a dispensary in Fruitland Park, Florida. Currently, Cansortium has 27 operational dispensaries in Florida, giving it a significant presence in the state.CNTMF

To highlight, the company’s Fluent brand has produced a wide variety of dried flowers, edibles, and full spectrum concentrates, cartridges and creams. Cansortium released its second quarter 2021 results with revenue up 24% year over year to $ 16.5 million. In detail, the company reported Adjusted EBITDA of $ 5.2 million. The company saw its adjusted gross profit rise 24% to $ 10.7 million or 65.1% of its revenue. Fluent by Cansortium has extended its cultivation to Florida with new greenhouses in Homestead and Sweetwater. Company Expected to Release Third Quarter 2021 Results on November 30e after the market closes.

Closing of the CNTMF title on November 19e at $ 0.695 up 5.53% for the trading day. Currently, the stock has a 52-week price range of $ 0.45 to $ 1.35 and has risen 2.96% in the last five trading days. According to Market Beat analysts, CNTMF stock has a consensus price target of $ 1.20 per share. In this case, that would represent an increase of 72.7%. With the possibility of federal cannabis reform on the rise right now, marijuana penny stocks could be good for your list this week.

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