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AAWH - Top Marijuana Stocks For December Watchlist Right Now

Best Cannabis Stocks As The Cannabis Sector Rises

Are you interested in learning which marijuana stocks to purchase before the year is out? Due to the extremely volatile market this week, short-term traders had a ton of opportunities. As federal cannabis legalization advances on Capitol Hill, top cannabis companies might experience increased volatility. One area of the cannabis industry where day traders and swing traders may find chances are cannabis penny stocks.

Sen. John Hickenlooper (D-CO) officially introduced a bill on Thursday to prepare the nation for federal marijuana legalization, which was previously planned. In general, the Preparing Regulators Effectively for a Post-Prohibition Adult-Use Regulated Environment Act (PREPARE Act) would instruct the attorney general to set up a commission tasked with making recommendations on a regulatory framework for marijuana that mirrors the one in place for alcohol.

To profit from the current volatility, many cannabis investors are aggressively trading marijuana stocks using short-term trading tactics. At the present time, the current market values of many of the biggest cannabis companies are like those of penny stocks. Any shares of stock with a price of under $5 are referred to as penny stocks. They are renowned for their high volatility and the huge daily price swings they are capable of. Let’s look at 3 top marijuana penny stocks to watch in December .

[Read More] 3 Marijuana Stocks People Are Talking About

Best Marijuana Stocks For Watchlist Now

  1. Ascend Wellness Holdings, Inc. ( NASDAQ: AAWH )
  2. Columbia Care Inc. ( OTC: CCHWF )
  3. Goodness Growth Holdings, Inc. ( OTC: GDNSF )

Ascend Wellness Holdings, Inc.

Massachusetts, New Jersey, Ohio, Illinois, Michigan, and Michigan are all home to AWH sites. In general, the key operations of AWH include owning and operating facilities that produce strains that earn prizes and having a carefully thought-out product line. The business frequently manufactures and sells its products under the trademark Ozone. The company sells a range of cannabis products, including sweets, concentrates, pre-rolls, flowers, vape pens, and other cannabis-related items. AWH operates 17 retail stores and provides products to licensed marijuana businesses. On May 11, Ascend Wellness and MedMen Enterprises Inc. inked an agreement to raise the purchase price of MedMen NY Inc.

In the third quarter of 2022, AWH reported gross revenue of $134.3 million, up 14.1% from the previous quarter and 27.8% from the previous year. Additionally, to reach $111.2 million, net revenue—which excludes intercompany sales of wholesale goods—rose 17.9% annually and 14.1% quarterly. Additionally, quarterly retail revenue increased by 9.6% to $82.8 million. In comparison to Q2 2022, when the company lost $21.2 million, it lost $16.9 million this quarter.

AAWH Stock Performance

AAWH stock closed on December 1 st at $2.03 down 4.25% in the past month of trading.  Currently, the stock has a price range of $1.52-$6.76 down 69.08% year to date. According to analysts at Tip Ranks AAWH stock has a 12-month median price forecast of $4.50 per share. In this case, it would represent an increase of 121.67% from its last trading price of $2.03.

[Read More] Top Marijuana Stocks Right Now In December

Columbia Care Inc.

The amount of Columbia Care Inc.’s presence in the New York region will significantly increase. The business, which is among the largest producers of cannabis on the East Coast, just acquired a 34-acre Long Island facility. Columbia Care now has 131 locations spread across 18 American cities, including 99 dispensaries and 32 growing and processing facilities. The business opened a marijuana dispensary at its initial location in Missouri in October 2021. The third gLeaf dispensary in Virginia has recently been revealed by the company. The largest MSO in the US, Cresco Labs Inc. ( OTC: CRLBF ), acquired Columbia Care on March 23 for a $2 billion total enterprise value.

According to the company, third-quarter revenue for 2022 increased 2.4% QoQ to $133 million. Furthermore, the company’s gross profit rose 2.5% QoQ to $52 million. While wholesale revenue jumped by 14% sequentially and greatly boosted EBITDA, retail revenue only grew by 0.4% compared to Q2 2022. Adult usage hours were fully implemented in New Jersey retail establishments by June 2022. Market sales increased by more than 75% sequentially, while wholesale growth outpaced that of the prior quarter by more than five times. There were no brand-new retail locations opened in Q3. After the quarter concluded, the business opened Carytown, its fifth retail location in Virginia, bringing the total number of dispensaries to 85.

CCHWF Stock Performance

CCHWF stock closed on December 1 st at $1.75 up 8.07% in the last month of trading. Currently, the stock has a 52-week range of $1.15-$3.39 down 39.17% year to date. According to analysts at Tip Ranks CCHWF stock has a 12-month average price target of $3.73 per share. In this case, this is an upside of 1413.14% from its last trading price of $1.75.

[Read More] Looking For Penny Stocks To Buy? 2 Marijuana Stocks To Watch in December

Goodness Growth Holdings, Inc.

Goodness Growth Holdings, Inc., a cannabis and intellectual property firm seeks to promote engineering, research, and technology. Resurgent Biosciences, a subsidiary of Goodness Growth, is interested in researching the therapeutic potential of psychedelics. Currently, the company operates 18 retail dispensaries around the country. Before changing its name, Goodness Growth held four cannabis licenses in Nevada. These licenses will make it possible for Goodness to cultivate marijuana for the state of Nevada’s medical and recreational sectors. The Charm City Medicus Dispensary in Maryland, according to the company, was completed on November 22. This collaboration improves Goodness’ standing in the Maryland medical marijuana market.

In the third quarter, the company’s overall sales increased by 41.0 percent to $18.9 million from Q3 2021. Additionally, gross profit increased from $5.1 million or 38.3 percent of revenue in Q3 last year to $9.5 million or 50.6 percent of revenue. Additionally, the business saw an operating loss of $0.2 million in the third quarter, down $3.9 million from the operating loss of $4.1 million in Q3 of the previous year. In comparison to Q3 2021, Goodness Growth’s overall net loss in the third quarter of 2022 was $8.4 million.

GDSNF Stock Performance

On December 1 st GDNSF stock closed at $0.36, down 10% in the last month of trading. The stock is currently trading in a 52-week price range of $0.305-$2.65 and is down 78.95% year to date. GDNSF stock has a median price target of $0.63 which would represent a 75% increase from its last trading price of $0.36.

Trading Penny Pot Stocks In December 2022

Numerous potential events in the upcoming months might increase these marijuana stocks through the end of 2022. In general, finding the top cannabis businesses on the market might be made simpler by looking at their financials and press releases. Several seasoned traders are actively making short-term bets in the top cannabis businesses in an effort to profit from the current market volatility. Use technical indicators and chart patterns to determine the ideal parameters before opening a position. Finding profit-taking opportunities will increase your ability to make lucrative transactions. These might be some of the best stocks to follow this month because top marijuana stocks are still volatile.

Stock Information

Company Name: Ascend Wellness Holdings Inc Cl A
Stock Symbol: AAWH
Market: OTC

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