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March 31, 2022, 2:01 p.m. EDT

Best Marijuana Penny Stocks To Buy Now? 3 For Your Watchlist In April

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Mar 31, 2022 (Marijuana Stocks via COMTEX) -- Top Cannabis Stocks In Q2 2022

Are you looking for the best marijuana stocks to buy before April? In March the cannabis sector experienced extreme market volatility that is partly being caused by inflation concerns and the war in Ukraine. Another factor that has caused the decline of top cannabis stocks in 2021 and Q1 of 2022 is the delays with US federal marijuana legalization . But as April approaches new attempts to pass federal cannabis reform in Congress have caused some upward momentum for pot stocks.

In a high volatility market, price swings in cannabis stocks make it harder for the long-term investor to make start a position. For this reason, many cannabis investors and active traders are taking advantage of the volatility by making short-term trades. Using day trading and swing trading techniques active traders can produce gains with marijuana penny stocks.

For those unfamiliar with penny stocks , these are any stocks that trade under the $5 price point. For the most part, these penny stocks are known for displaying greater volatility than other higher-priced stocks. Because of this many active traders use technical indicators to find grade-A setups in the market that give them a better chance to make successful trades. Because the cannabis sector has seen significant declines in the past year new attempts to end cannabis prohibition could become a catalyst for pot penny stocks in April.

Best Penny Pot Stocks And Trading Methods

Before investing in marijuana penny stocks, it's important to always do your own research on a company. Looking into a company's press releases and earnings can help you identify the best companies to invest in. Additionally learning to use chart patterns and trading indicators to put yourself in favorable positions can help you to become a consistently profitable trader.

[Read More] Top US Marijuana Stocks To Buy In April? 2 Analysts Are Giving Higher Price Targets

As we continue to see momentum in top marijuana stocks, we could see substantial moves in the cannabis penny stock sector. As top cannabis companies continue reporting strong revenue growth in their latest financials the cannabis market is growing rapidly. Many top cannabis companies are also participating in large mergers and acquisitions that are resulting in smaller cannabis companies being absorbed by larger companies. Let's look at 3 top marijuana penny stocks to watch in April 2022.

Best Cannabis Penny Stocks To Add To Your Watchlist In April

  1. IM Cannabis Corp. ( NASDAQ: IMCC )

  2. Goodness Growth Holdings, Inc. ( OTC: GDNSF )

  3. Acreage Holdings, Inc. ( OTC: ACRHF )

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 introduced to IMC’s product portfolio. 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 of 400 kg of high-quality indoor dried cannabis in Israel. On March 30 [th] the company completed the acquisition of Oranim Pharm a leading medical cannabis pharmacy in Jerusalem.

IMC revealed preliminary fourth-quarter and full-year 2021 financial numbers on March 10th, both of which were record-breaking. In 2021, the company predicts full-year revenues of at least $54 million, a 240 percent increase over the previous year. Additionally, revenue for the fourth quarter is expected to reach $20 million, up 308% year on year. In December, IMC launched the WAGNERS Brand in Germany, introducing high-quality Canadian cannabis grown indoors to the country for the first time. The company established a partnership with cbdMD Inc. in the third quarter to offer cbdMD goods in Israel. The company will begin exporting in the third quarter, as per agreements to ensure the flow of EU-GMP goods. In January, Rinat Efrima was named the new CEO of IMC Holdings.

[Read More] These Marijuana Stocks May See Some Upside As The House Votes On Cannabis Reform

IMCC stock closed at $2.39 on March 31 [st] up 9.38% for the trading day. The stock has a 52-week price range of $1.56-$8.07 and is down 28.44% year to date. According to analysts at Market Beat IMCC stock has a consensus price target of $8.42 per share. In this case, this would represent an upside of 252.2% from its last trading price of $2.39.

Goodness Growth Holdings, Inc.

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