2022 Hot Penny Stock Alert
Are you looking for the best marijuana stocks to invest in now that the market is down? The overall markets are off to their worst start in decades in 2022, and the cannabis industry is currently trading at fresh lows set in May. This unpredictable market climate benefits aggressive traders when it comes to short-term investing. Many active traders, in general, employ day trading and swing trading tactics to profit from market volatility. Marijuana penny stocks have a reputation for being extremely volatile in the cannabis industry.
Penny stocks, for those who are unfamiliar, are any equities that trade for less than $5. These lower price points are preferred by active traders because they allow them to raise their position size with much less cash. Some active traders employ chart patterns and technical indicators to place themselves in grade A setups that increase their chances of making money.
With many analysts forecasting a tumultuous year in the stock market, short-term trading might help investors build wealth before allocating cash to long-term investments. Let’s look at the three top marijuana penny stocks for your list this week as the general markets continue to rally.
Best Penny Stocks To Watch Before June 2022
- IM Cannabis Corp. (NASDAQ: IMCC)
- Clever Leaves Holdings Inc. (NASDAQ: CLVR)
- MariMed Inc. (OTC: MRMD)
IM Cannabis Corp.
With operations in Israel, Germany, and Canada, IMC is a global pioneer in the medical and adult-use recreational cannabis industries. The IMC brand, which is based in Israel, has reached a milestone in the Israeli medical cannabis industry, according to the company. Medical cannabis is being added to IMC’s product range. The company is represented throughout Europe by Adjupharm, a German-based subsidiary, and EU-GMP-certified medicinal cannabis distributor. In addition, the company announced the completion of a state-of-the-art logistics facility in Germany, which is noteworthy. Adjupharm will be able to optimize its supply chain in the long run, including bulk cannabis repackaging, thanks to this facility. On January 19th, Focus Medical announced the arrival in Israel of 400 kg of high-quality indoor dried cannabis. On March 30th the company completed the acquisition of Oranim Pharm a leading medical cannabis pharmacy in Jerusalem.
Revenues increased 169 percent year over year to $23.6 million in the first quarter of 2022, according to the company’s figures released in May. Furthermore, gross profit before fair value adjustments was $6.4 million, up 37 percent from the first quarter of 2021 and 67 percent sequentially. The company executed four key acquisitions in Israel during the first quarter, including the country’s largest retail and online pharmacy business and a trade and distribution center with an IMC-GDP license, and began centralizing operations of its newly acquired businesses. IMC introduced the WAGNERS Brand in Germany in December, for the first time bringing high-quality Canadian cannabis produced indoors to the country. In the third quarter, the company formed a partnership with cbdMD Inc. to sell cbdMD products in Israel. According to agreements to safeguard the flow of EU-GMP goods, the company will begin exporting in the third quarter.
IMCC Stock Performance
IMCC stock closed at $1.01 on May 26th down 11.55% in the last month. The stock has a 52-week price range of $0.985-$6.35 and is down 70.07% year to date. According to analysts at CNN Business IMCC stock has a median price target of $4.81 per share. In this case, this would represent an upside of 381.17% from its last trading price of $1.01.
[Read More] Top Canadian Marijuana Stocks To Watch This June
Clever Leaves Holdings Inc.
Clever Leaves Holdings Inc. is a company that grows, extracts, manufactures, and distributes marijuana. Colombia, Portugal, Germany, the United States, and Canada are among the company’s current operations. The company develops, manufactures, promotes, distributes, and sells homeopathic and other natural remedies, as well as health and detoxification goods. Clever Leaves aims to upend the existing cannabis manufacturing industry by employing environmentally friendly, ESG-friendly, industrial-scale, and low-cost production methods, as well as the world’s most strict medical-grade certifications.
Clever Leaves announced its first-quarter 2022 results on May 12th, with sales of $5.2 million, up 50% year over year. In addition, gross profit was $2.0 million, which included an inventory write-down of $0.8 million. The company’s gross margin was 39 percent, and it lost $16.1 million in the first quarter. The increased cost of sales, including inventory write-downs, resulted in a $6.7 million loss in adjusted EBITDA.
CLVR Stock Performance
CLVR stock is trading at $1.12 on May 26th down 22.22% in the last month. Currently, the stock has a 52-week price range of $0.908-$12.40 and is down 63.86% year to date. According to analysts at CNN Business CLVR stock has a consensus price target of $2.70 per share. This forecast represents an increase of 143.24% from its last trading price of $1.11.
MariMed Inc. has expanded to become a multi-state cannabis company with its own line of state-licensed cannabis facilities and stores. The company builds and runs state-licensed cannabis facilities from seed to sale. In its managed business divisions, MariMed’s management team has a proven track record of success. Some of the company’s best-selling and award-winning goods and brands include Betty’s Eddies®, Nature’s HeritageTM, Bourne Baking Co., and Kalm Fusion®. Last year, MariMed unveiled the world’s largest cannabis-infused brownie to commemorate the debut of its Buddy Baked brand. The company received an award in May for the world’s largest cannabis brownie. On March 8th, the company acquired its second retail location in Massachusetts with the purchase of a dispensary in Beverly.
The company announced its first-quarter 2022 results on May 10th, with sales growing 27% year over year. Revenue from retail dispensary operations increased 41% in the first quarter of 2021, thanks to a new dispensary in Metropolis, Illinois, and increased consumer counts in both Illinois and Massachusetts. Furthermore, compared to Q1 2021, revenue from wholesale operations increased by 6%.
MRMD Stock Performance
MRMD stock is trading at $0.6098 on May 26th down 9.32% in the last month. The stock has a 52-week price range of $0.40-$1.20 and is down 29.50% year to date. According to analysts at C Tip Ranks the stock has a $1.88 average price target this would represent an upside of 208.30% from its last trading price of $0.6098.
Finding Profitable Trades Before June 2022
You may uncover the strongest opportunities in the industry by researching a company’s finances and press releases. It’s also crucial to conduct your own research on a company before considering a position. Learning how to use chart patterns and technical indicators might help you make more profitable trades. With the cannabis sector quickly expanding in the United States and throughout the world, current market circumstances may be favorable for short-term traders. During a slump, learning a range of various trading strategies might help you benefit. In May 2022, these might be some of the best marijuana penny stocks to add to your portfolio short term.