Best marijuana penny stocks

The marijuana industry is the hottest and fast-growing industries. The legalization of weed in the recreational sector in Canada and some parts of the US has made a strong move in keeping a track of the specialized segment of pot stocks. Some of the stocks have turned up strong very rapidly with the news of legalization of cannabis. The investors need to be extra careful while trading with the marijuana penny stocks as the options they’re looking for could look very attractive but are actually not that worthy. It is important to make full research of the marijuana company you’re looking to make the investment as the chances for pullbacks could be more with the wrong selections.

A list of three best marijuana penny stocks is given below for review. The investors are suggested to make their personal search on these stocks before making their investment.

  1. Cannabis Science Inc.

The stock symbol for Cannabis Science Inc. on the OTC board is CBIS. The company is based in California and started its operations in 2009. The company’s market capitalization is $102 million and has a goal of getting FDA approval for its cannabis-based medications. The major aim of the company is to treat diseases like HIV, skin cancer and post-traumatic stress disorder. The research collaboration of the company with Garber Cancer Institute is a positive lead for the investors to establish their trust in the cannabinoid-based cancer treatment options given by the company. The stocks have been turning slowly towards the upward level but it is expected that they will ultimately get high with the coming phases.

  • mCig, Inc.

The stock symbol of mCig Inc. on the OTC board is MCIG. The company operates in the United States and other countries as well. The company operates through four segments:

  1. Cultivation of Cannabis, Manufacturing, and Distribution (CMD Segment): This segment designs, develops and constructs greenhouses and buildings for growing herbal cannabis in the market.
  2. Marketing and Retail Selling: This segment engages in the online sale of e-cigarettes and retail distribution of cannabis products.
  3. Mass media and technology: Social platform for advertising cannabis, software solutions and handling cryptocurrency markets.
  4. Agricultural grounds: Planning and growing of industrial hemp.

The stocks are currently priced at $0.12 and there is a scope for growing the scope with the business growth in the above segments of the company.

  • Elev8 Brands, Inc.

The stock symbol of Elev8 Brands, Inc. is VATE on OTC market. The company is based in Florida, US and works on the provision of hemp seed coffee blend, supplements for wellness and fitness and hemp water products. The previous name of the company was PLAD, Inc. and was changed to Elev8 Brands, Inc. in December 2016. The present stock price of the company’s stocks is $0.0385 and is expected to grow with the better business and trading of the company’s marijuana-based products. The company’s new product Ready to Drink CBD Lemon Iced Tea was launched on March 15, 2019.