Investing In Top Marijuana Stocks Under $5
Are you looking for marijuana stocks to buy for next week? At the present time, the best cannabis stocks to invest in have seen significant declines in market value. But one area that has seen substantial gains in 2021 is marijuana penny stocks to watch. At the beginning of this year, cannabis stocks under $5 rallied in the market until February. Now for the last few months, the best pot stocks to buy have seen a steep reduction in value.
In essence, this could be a good time to find the top marijuana penny stocks to add to your watchlist in May. But before investing there are a few things to get familiar with about cannabis stocks. For one marijuana penny stocks are known for being some of the more volatile securities on the market. Because of this volatility more investors use short-term trading methods in this area of the market.
Currently, many day traders and swing traders capitalize off the market fluctuation in the cannabis sector. One way investors can establish better positions for their portfolio is by doing due diligence on a company before making an investment. In many cases doing research on companies and watching the market performance of the stocks before investing can help you make better investment decisions.
Could May Produce Gains For Cannabis Penny Stocks
As May kicked off top marijuana stocks began showing some upward momentum in the market. Although these gains were mostly given back to finish the week there could be some upside from current levels in the top cannabis penny stocks to buy. With this in mind, we can look at some of the cannabis penny stocks that have potential going into next week.
At the current moment, there are a few events that could be a catalyst for the cannabis sector. One of those is the SAFE Banking Act and further federal cannabis reform. In the meantime, the cannabis market continues to show sales growth in Canada and the US markets in 2021. Due to a strong pullback in top marijuana stocks, these pot stocks could be a good option for your watchlist heading into next week.
With the intention of taking a closer look at these companies, we can start researching industry leaders. Currently, these marijuana penny stocks could hold potential value for investors. With this in mind, let’s look at 2 cannabis penny stocks to watch before next week.
Marijuana Stocks To Watch:
4Front Ventures Corp.
4Front Ventures Corp. is a U.S. MSO and retailer that distributes over 25 cannabis brand products across the nation. 4Front has dispensaries in Illinois, Massachusetts, California, Michigan, and Washington state. In its latest fourth quarter and fiscal year 2020 results, the company saw Q4 pro forma revenue of $25 million and full-year proforma sales of $88.1 million.
Also, in the report, the company reaffirmed its previous announcement of full-year 2021 guidance and estimates Systemwide Pro Forma Revenue of $170-180 million. Generally speaking, the company has future growth potential and continues to deliver increasing revenue in 2021. The company continues to expand its cultivation and production facilities in key markets like Illinois.
FFNTF stock is up 46.70% year to date with a high of $1.98 in February. Closing on May 6th at $1.335 the stock is up 14.10% in the last 30 days. According to analysts at Wallet Investor is giving FFTNF stock a one-year forecast of $2.591 per share. This would represent a 94.08% increase from current levels. With 4Front showing strong growth potential FFNTF stock is a top marijuana penny stock to add to your watchlist next week.
MariMed Inc. is an MSO developing its brand of state-licensed cannabis facilities and dispensary operations in the US. The company has managed to produce consistent growth and success through its management team. In MariMed’s latest earnings report the company reported full-year 2020 financial results achieving a record full-year 2020 revenue of $50.9 million.
Additionally, in the Q4 core cannabis revenue was up 292% to $20.4 million. In particular, the company has made substantial improvements in its liquidity and capital resources in 2020. In May MariMed is expected to report its first-quarter 2021 results on Tuesday, May 18th before the bell.
MRMD stock is up 59.57% year to date with a high of $1.02 in February. On May 6th the stock closed at $0.75 and is up 323.73% in the last six months. According to analysts at Gov Capital MRMD has a 1-year forecast of $2.129 per share. In essence, this would be a 183.86% increase from current levels. With this in mind, MRMD is a cannabis stock to watch trading under $1 per share.