Best Cannabis Stocks For Short Term Traders
Are you looking for top marijuana stocks in January 2022? For most of last year the best cannabis stocks to buy experienced significant declines in the market. This is because of the delays with Congress passing cannabis reform in 2021. Now because it seems pot stocks are pricing in the possibility of not establishing US federal cannabis legalization this year, we could see them begin trading on other market catalysts.
Although top cannabis stocks declined significantly in 2021 leading cannabis companies delivered strong revenue growth for the year. In addition, many expanded rapidly across the US using mergers and acquisitions to grow their footprints. At the present time, many active traders are taking advantage of the increased market volatility by trading marijuana penny stocks. For those investors not familiar with penny stocks these are any stocks that trade under the $5 stock price.
In general cannabis penny stocks are known for having significant price swings that active traders use to produce short-term gains by day trading and swing trading. Learning how to find the best trade setups and use trading patterns to establish good entry and exit levels can help you become a better trader. Because of the volatility in marijuana penny stocks making a good entry can be important to the gains your position will produce.
Penny Pot Stocks Under $1 For Active Traders
As the cannabis sector continues trading near the lower levels seen by cannabis investors it could be time to start a watchlist of penny pot stocks for 2022. In many cases, top marijuana penny stocks could be primed to see some upside as the year progresses. With this week ending top marijuana stocks are near 52-week lows heading into mid-January. For this reason, let's look at 2 top marijuana penny stocks to watch over the weekend.
Top Marijuana Penny Stocks For Your List Mid-January
Aleafia Health Inc.
Aleafia Health is a vertically integrated, federally regulated cannabis company serving the Canadian market with cannabis health and wellness services and products. The company currently has a global reach, with subsidiaries or investments in German and Australian medical cannabis enterprises, as well as goods offered in both markets. Aleafia now owns and manages a virtual network of medical cannabis clinics staffed by doctors and nurse practitioners who have seen over 75,000 patients. Aleafia Health, in notably, has three licensed cannabis production facilities and runs a strategically placed distribution hub in Ontario, including the country’s first large-scale, legal outdoor cultivation facility. Currently, the company develops a comprehensive range of cannabis derivative products, including oils, capsules, edibles, sublingual strips, and vapes, for medicinal and adult-use markets in Canada, as well as certain overseas countries.
In its latest financials, Aleafia reported Q3 2021 results with an increase of 123% year over net cannabis revenue of $9.5 million. Specifically, net adult-use cannabis revenue was $5 million for Q3 2021 up 2044% year over year. The sequential increase is because of increased product availability and the launch of new product SKUs. Currently, Aleafia holds a top 10 spot in Canada's adult-use edibles and oils category.
Words From The CEO
"Our momentum in the adult-use cannabis sector has continued with our strongest quarter to date by a significant margin. Consumer demand for our portfolio has been clearly demonstrated as we now begin to capture meaningful market share, entering the top 10 nationally in the pre-roll, edible, and oils categories. Most importantly, we've realized a five-fold sequential increase in dried flower market share during the quarter, in a category that is both Canada's largest and one that leverages our low-cost cultivation advantage."
Aleafia Health CEO Geoffrey Benic
ALEAF Stock Performance
ALEAF stock is trading at $0.1004 on January 14th up 3.14% in the past five trading days. Currently, the stock has a 52-week price range of $0.08-$1.07 and is down 68.37% in the last six months. According to one analyst at Market Beat ALEAF stock has a consensus price target of $5.81 per share. In this case, this would represent an upside of 5540.8% from its current trading price of $0.10.
SLANG Worldwide Inc.
With a diverse portfolio of popular products across the United States, SLANG Worldwide Inc. is a worldwide leader in the cannabis CPG business. In general, the company focuses on acquiring and expanding market-proven regional brands. In addition, the company introduces cutting-edge new brands to capitalize on worldwide market potential. SLANG Worldwide is a cannabis consumer packaged products company that works globally now. It owns, licenses, and/or markets 11 brands that provide flower, inhalable concentrates, and edibles, as well as pressed pills. In Massachusetts, the company now has a strategic collaboration with Trulieve Cannabis Corp. to sell branded cannabis products.
In its most recent earnings SLANG reported Q3 2021 revenue of $10.1 million compared to $7.9 million year over year. Specifically, SLANG's brand products continue to earn market-leading positions in its core markets of Colorado and Vermont. In addition, the company also announced its entry into the new markets of West Virginia and Pennsylvania.
Words From The CEO
“With the significant support from our respected strategic and investor partners, I look forward to utilizing my extensive experience in repositioning corporate operations to assist in the transformation of the SLANG operating platform. This transformation will be based on a refined strategy to appropriately position the Company to achieve future sustainable revenue growth.”
Drew McManigle, Interim CEO and Chairman of SLANG
SLGWF Stock Performance
SLGWF stock is trading at $0.0513 on January 14th down 14.45% in the past five trading days. Currently, the stock has a 52-week price range of $0.045-$0.584 and is down 74.55% in the last six months. The company has a $30.156 million market cap and an average daily share volume of 460,528. As we head into mid-January these could be top marijuana penny stocks for your watchlist next week.
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