Hot Marijuana Penny Stocks To Watch Right Now? 2 With Potential In June

June 8, 2021 4:05 PM EDT

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Investing In Marijuana Penny Stocks In 2021

Are you looking for marijuana stocks to buy in June? After 3 months of declines in the market top, cannabis stocks are showing some upward momentum to start the month. For investors, this could be an opportunity to find pot stocks to add to their watchlist. Many traders prefer using short-term trading methods in the cannabis sector because of the strong volatility.

One area of the market that has delivered returns in 2021 is penny marijuana stocks. In the first quarter of 2021 top marijuana penny stocks saw significant gains in January in February. Now in June after several months of declines, they could be ready for a rebound in the market. At the present time, there are some marijuana penny stocks that could provide returns for investors.

To find the best investments it's important to do your own research and due diligence on a company. Studying how a stock performs in the market and finding the companies with the strongest financials are helpful tools in making better investments. In the future one part of the cannabis sector that could see significant market gains are CBD and extraction cannabis stocks. Currently, with both the medicinal and adult-use markets expanding across the US and other parts of the world, this part of the industry could see substantial revenue increases.

Making Short Term Gains With Cannabis Penny Stocks

Right now, there are a few marijuana stocks that are well-positioned to see short-term market gains with renewed momentum in the cannabis sector. In the second week of June, the cannabis sector could be heavily affected by the results of the MORE Act in Congress. So far in 2021, the only thing that has given the cannabis sector momentum is federal legalization. Since the presidential election, most of the cannabis sector has seen a rally in the market that lasted until February. Currently, pot stock prices could be considered a decent area to find entry points in some of the best marijuana penny stocks to buy.

[Read More] Congress Will Vote On Passing Federal Cannabis Reform In 2021

With this in mind, we can begin to research some of the top penny stocks for your watchlist this week. In the US CBD and cannabis derivatives have continued to gain popularity and seen increased demand. As the cannabis market continues to grow this area could see much more upside in the near future. Watching how a stock performs in the market can help you establish the best position for your investments. For short-term returns, these could be 2 of the top marijuana penny stocks to watch in June.

Marijuana Penny Stocks To Watch

  1. Charlotte’s Web Holdings, Inc. (OTC:CWBHF)
  2. MediPharm Labs Corp. (OTC:MEDIF)

Charlotte’s Web Holdings, Inc.

As one of the market leaders in Hemp CBD wellness products Charlotte’s Web Holdings, Inc. has held its leading industry position for many years. Currently, the company's premium quality products are made with American farm-grown hemp genetics and manufactured into hemp extracts. As the number one CBD brand in the U.S., the company is distributed through more than 22,000 retail locations nationwide.

In May Charlotte's Web released its first-quarter 2021 financial results with consolidated revenue of $23.4 million. This is an increase of 9.1% when comparing to the $21.5 million the prior year. Additionally, DTC eCommerce sales increased 14.5% from the prior year and contributed 68.9% to first-quarter revenue. At the present time, Charlotte's Web product categories include CBD oil tinctures, CBD gummies, CBD capsules, CBD topical creams and lotions, and CBD products for dogs. In addition to becoming the number one CBD provider in the U.S. Charlotte's Web is also expanding into the global market.

CWBHF stock is trading at $4.6325 on June 8th up 40.89% year to date. In February CWBHF stock reached a high of $7.03 and has increased 17.13% in the past month. According to analysts at Tip Ranks CWBHF stock has a 12-month average price target of $5.05 per share. In essence, this forecast represents an increase of 9.07% from current price levels. For this reason, CWBHF stock is a top marijuana penny stock to add to your watchlist this week.

[Read More] Making A Marijuana Stock Watchlist In June? 3 To Watch Next Week

MediPharm Labs Corp.

Currently, MediPharm Labs Corp. is a producer of purified, pharmaceutical-grade cannabis oil, concentrates, and advanced derivative products. Specifically, the company has built a wholesale and white label distribution platform that distributes cannabinoid-based products to the global markets. In May MediPharms reported its first-quarter 2021 results with a gross profit of $0.68 million. Currently, the companies Q1 2021 margins were negative because of lower production volumes and inventory. In the report, 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.

This morning on June 8th MediPharms announced a strategic partnership with ADREXpharma to continue building its presence in Germany. In detail, the partnership will address the rising patient demand for cannabis in the German medical cannabis market. This should increase MediPharms strength in the global cannabis market in 2021.medif stock

MEDIF stock is trading at $0.3966 on June 8th almost trading flat right now year to date. In the past six months, the stock has lost 12.91% in the market. According to analysts at Market Beat MEDIF stock has a consensus price target of $1.25 per share. This would represent an increase of 205.3% from current trading levels. With this in mind, MEDIF stock could be a top marijuana penny stock to buy in June.

[Read More] Top Marijuana Penny Stocks Vs Cryptocurrency, Which Investment Is Better In June?

The post Hot Marijuana Penny Stocks To Watch Right Now? 2 With Potential In June appeared first on Marijuana Stocks | Cannabis Investments and News. Roots of a Budding Industry.(TM).

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