Marijuana penny stocks are simply shares that you can buy for $5 or less per share.
Marijuana is not legal across the country, but it still generates billions yearly.
Once it gets federally decriminalized, which is soon, it’ll open out untapped markets, so canna-businesses will knock it out the park.
There’s no better time than the present to buy stakes in marijuana firms, and you may start with putting penny stocks in your investment portfolio.
The returns are high. Know about Tim Sykes? He used his meager savings to buy penny stocks while at Uni and it changed his life.
The cannabis industry is vast, and you’re not limited to just dispensaries and grow facilities, but you also have manufacturing firms, PR firms, media networks, etc.
Marijuana penny stocks are new, and if you are an inexperienced investor, you wanna take the time to learn what you’re getting into.
Taking the time to study marijuana stocks would prevent rookie mistakes like losing money to pump and dump scams.
The cannabis market has terrific growth potential, but you can put this to your advantage by searching out promising companies and buying stocks.
Perform due diligence, use a reputable broker, and check to see the company is listed in a legitimate exchange.
The Best Marijuana Penny Stocks
The following are some of the canna-businesses fit for buying stocks.
1. Canopy Growth Corp
Was the first cannabis company in Canada to become publicly traded. This company and its subsidiaries are involved in nearly all aspects of medical marijuana. They are noted for introducing compassionate pricing.
2. General Cannabis Corp
This cannabis company has been around since the 80s. It’s one of the major players in leveling up the cannabis industry. Its market cap runs into billions.
3. GreenGro Techs
Concerns itself with cannabis growing. Different strains achieve the best yield in different settings. GreenGro is at the forefront of developing superior growing tech.
This Canadian cannabis company is one of the leaders in medical marijuana. Apart from quality products it also has a reputation for great customer care.
5. Aurora Cannabis
Based out of Edmonton but with a global reach, Aurora is committed to producing quality cannabis products and helping marijuana patients across the world.
6. Namaste Technologies
They are at the forefront of developing superior technologies for canna-firms. The cannabis industry is very elastic and allows innovation to thrive.
7. Freedom Leaf Inc
Everything is done in-house; growing, manufacturing, packaging, distributing, and even media. They have it all. The firm is expanding exponentially as it swallows up new and promising companies.
8. Auxly Cannabis Company
They are building a world-class platform for cannabis firms. They have a bias toward grow companies and they create superior technology to ensure quality products.
9. MPX Bioceutical
This company is revolutionizing the world of cannabis extraction and processing. They provide resources and help cannabis companies reach their A-game.
10. Village Farms International, Inc
Another Canadian behemoth, it boasts vertically-integrated operations and has a global reach. They have great resources and technology and their products are next-level.
Will I Get Rich from Penny Stocks?
It cannot be as simple as saying Yes or No because we have no prophetic powers, but penny stocks play along like other shares.
If you have an analytical mind and a sharp intuition, you can anticipate market trends, and make accurate decisions.
It’s no overnight success, but if you stick to the script you can make good money out of trading penny stocks.
Yes, you have the potential for converting your small monies into a fortune, but in the same vein, there’s the risk of losing it all.
What Factors Should I Consider When Buying Penny Stocks?
One of the biggest mistakes that newbies make is rushing into it before performing due diligence. Make sure you pay attention to these things:
- What’s the top management like? Good leadership is a major driver of success.
- What’s the market cap of the company?
- Is the company servicing any major debt?
- Is there a pattern of risky market oscillations?
- What’s the opinion of other investors?
Buying marijuana penny stocks is a great investment because marijuana is set to be decriminalized and hatch a massive economy.
Penny stocks are not complicated and anyone with some change and a brain can get started.