CLVR - Looking For Penny Stocks To Buy? 2 Marijuana Stocks To Watch in December
Best Cannabis Stocks As December Trading Begins
Are you looking for the top marijuana stocks to buy as the legal cannabis industry gathers real momentum? Trading cannabis penny stocks is one-way cannabis investors are leveraging the current boom in the cannabis industry. For the ease of those who are unsure, any stock that trades for less than $5 is a penny stock. In the current market situation, these marijuana enterprises, which have high volatility, might provide short-term investors with significant rewards.
Over the next five years, the cannabis market is expected to more than double. One industry that will grow significantly is the international cannabis market. Many companies are now expanding outside of the US and have established themselves in other locations.
The cannabis industry experienced fresh lows in November, but recovery has already started. Given everything, this could offer marijuana investors a further opportunity to acquire premium companies at lower trading prices. As we begin December, let’s look at 2 of the top marijuana stocks that increased last month.
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Top Cannabis Stocks To For Watchlist In December
- Clever Leaves Holdings Inc. ( NASDAQ: CLVR )
- Acreage Holdings, Inc. ( OTC: ACRHF )
Clever Leaves Holdings Inc.
Clever Leaves Holdings Inc. cultivates, extracts, manufactures, and distributes marijuana. The business is currently active in a number of countries, including Colombia, Portugal, Germany, the US, and Canada. In addition to health and detoxifying goods, the company develops, produces, markets sells, and distributes a variety of homeopathic treatments. By utilizing industrial-scale, inexpensive, ESG-friendly, cost-effective production procedures, Clever Leaves seeks to drastically alter the cannabis manufacturing industry as it presently stands. The tightest medical-grade certifications accessible everywhere else in the world are combined in these methods.
Revenue for the third quarter of 2022 for the company was $3.3 million as opposed to $4.0 million. Revenue from cannabinoids climbed by 12% to $1.0 million from $0.9 million, while revenue from non-cannabinoids decreased by 12% to $2.3 million from $3.2 million. In addition, gross profit was $0.3 million, which included an inventory provision of $1.7 million, as opposed to $1.9 million, which contained an inventory provision of $0.7 million. In contrast to a net income of $1.0 million, the net loss was $20.2 million. This was principally caused by a $19.0 million intangible asset impairment charge that was incurred during the quarter, which was slightly offset by a deferred tax obligation of around $6.7 million.
CLVR Stock Performance
CLVR stock is trading at $0.4495 on November 30 th down 7.94% in the past month of trading. Currently, the stock has a 52-week price range of $0.412-$5.06 and is down 84.52% year to date. According to analysts at CNN Business CLVR stock has a consensus price target of $2.28 per share. This forecast represents an increase of 405.56% from its last trading price of $0.4495.
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Acreage Holdings, Inc.
Acreage Holdings, Inc. is a cannabis grower and retailer with sites across the US. Acreage’s collaboration with Canopy Growth Corporation ( NASDAQ: CGC ) could lead to a purchase if the US embargo is lifted. It is anticipated that the economies of New York and New Jersey will grow greatly during the next several years as a result of their large geographic areas. Acreage aims to finish building its growth facility in New Jersey, where it currently has the most licensed locations. Acreage was successful in selling an Oregon adult-use retail business with processing and growing facilities on May 3.
Sales for Acreage in the third quarter of 2022 totaled $61.4 million, up 28% from the same period the previous year. The company’s gross margin this quarter was 35% compared to the second quarter of 2022. In the third quarter of 2022, adjusted EBITDA* was $8.8 million compared to Q3 2021’s $6.5 million. Acreage became one of only a select few producers in the state of New York with the capacity to supply the market with non-remediated whole flower with the introduction of the Company’s whole flower sales under the state’s strict microbiological testing regulations.
ACRHF Stock Performance
ACRHF stock closed at $1.01 on November 30 th up 13.66% in the past month of trading. The stock has a 52-week price range of $0.465-$2.075 and is down 39.29% year to date.
[Read More] Top Marijuana Stocks For Watchlist In December
Short-Term Trading Pot Stocks In December
Press releases and financial data can allow you to identify the most promising organizations. Before accepting a position, you should conduct extensive research on the organization. As you grow more adept at using technical indicators and chart patterns, your investing performance may improve. Due to the cannabis industry’s rapid local and global expansion, short-term traders may profit from the current market conditions. During a downturn, you could find it useful to familiarize yourself with a range of trading strategies. The above-mentioned cannabis penny stocks are the ones you should add to your watchlist for December 2022.