Marijuana Penny Stocks to Watch
There are higher opportunities for the penny marijuana stocks as the market is projected to go ahead with $21 billion value as per the estimation. Have you picked out your favorite penny marijuana stocks yet? If not, this article might help you in making the right choice.
The selection of the best cannabis stocks would require intensive research on the present affairs for this marketplace. In the US, Colorado was the first state to permit recreational marijuana and the sales at that point of time exceeded $1 billion value which was a success for the US business industry. The growth of medical and recreational marijuana in CO region itself is projected to grow beyond twice the value in 2020.
The experts differ in their opinions regarding the growth projections of marijuana market and the stocks to buy in 2019. The growing market with multi-billion dollars stake has grown up quickly in the history of stock market of Canada and America. The annual compounded growth rate for marijuana sector has pushed around and will develop to higher percentage by 2020.
Some of the best penny marijuana stocks to buy now in OTCBB market are:
American Cannabis Company Inc. (AMMJ)
The stock of American Cannabis Company Inc. provides one-stop for the budding entrepreneurs and there are consultation services for the companies for marketing and branding of the products for their customers. The company has positioned itself for getting popularity and growth and has excelled in its segment. The stock price is about $0.43 and will enhance with the growing business.
Cannex Capital Holdings (CNXXF)
This equity firm focuses on cannabis cultivation and growth facilities. There is one distribution facility and two high-end cultivation facilities owned by the company in Washington, DC. This stock has a way to capture the industrial growth by having lower volatility levels. The recent collaboration with 4Front, Inc. has opened a gateway for the company to expand across the US with the best partnership to play the attractive way to play with the marijuana market. The stocks are nearing $2 value at present.
InMed Pharmaceuticals Inc. (IMLFF)
InMed Pharmaceuticals Inc. is a commercialized drug development company having major focus on the therapeutic potential of cannabinoids. The medications based on cannabis are meant to play a big role in the regulation of specific diseases. There are multiple therapies identified and advanced processes are undertaken for setting up the time savings in drug discoveries and the validation of targets. The company is focusing on getting CBD treatments for chronic pain in joints and muscles, glaucoma and Epidermolysis bullosa. The potential of these drugs is high in the market and hence, there is a scope to get better values of the stock prices of IMLFF.
Auxly Cannabis Group (CBWTF)
This cannabis royalty company provides finances to expand the capacity below the market rate. The stocks are priced at $0.65 and with the expansion of wholly-owned farms, there is a good scope for the company to grow. The idea of production of cannabis in 2019-20 is about 170,000 kg in value. CBWTF stocks will achieve better levels with the growth of weed market.
MedMen Enterprises Inc. (MMNFF)
This penny stock has a great reputation in the market. MMNFF is the integrated cannabis company having 18 well-established and licensed facilities having cultivation, manufacturing and retailing segments in major states like New York, California, and Nevada. The company raised its capital over $150 million value. The company’s actual position can be determined with its Q2 results of 2019. The momentum of the company is expected to grow with its cash flow statements and the legalization of cannabis has given wings to it to fly over the desired value.
MariMed Inc. (MRMD)
MariMed Inc. provides consulting services for the designing, expansion, funding, optimization and operational progress of medical cannabis requirement for legally accepted cannabis. The company operates under Kalm Fusion branding and produces the cannabis-infused products having a strong reputation in the market. The company has got appraised stock value from 52-week low of $0.95 to $3.50 level at present. Apart from the services mentioned above, the company offers legalized, accounting, HR and administrative services to the corporate sector. The company is heading towards positive notes in terms of business and will offer tremendous results based on its business projections by the management.
Aleafia Health (ALEAF)
Aleafia health works for the growth of cannabis farms which are under construction. It even works for the medical cannabis clinics operating under the brand name of Canabo Medical Clinic. The company even gave application to get listed on the NASDAQ but as per its size and acquisition rate, it is still not clear about when they will be given a position on the major stock exchange. It is a considerable point for the investors as the company is making efforts to come under the recognized listing to gain better scope. The company is aiming to get the stocks of Emblem Corporation (EMMBF) and it will be a positive step in getting the focus on grow facilities and clinics. With the anticipated acquisition, there will be 60,000 patients spread over forty medical clinics for producing 138,000 kg of cannabis on annual basis.
Plus Products Inc. (PLPRF)
Plus Products Inc. is one of the rapidly growing cannabis edibles manufacturer in the California market. the company has a projection for expansion to the new geographies with the big growth opportunities. The present stats of the company have the edible manufacturing facilities capability to handle $150 million revenues with an aim of reaching to three times of its value in the coming future. Edibles market is an attractive source to go ahead with the budding prices to reach towards an elevated level. There are many uses, as oils, concentrates and others used to implement in the cannabis-based industry associated in any way. The stock price of $4.31 could reach to 52-week highest value of $6.01 with the growing trend of cannabis in various applications.