Marijuana sector is a hot segment for the investors looking for getting higher returns over their investment. The times have changed and with the legalization of medical and recreational cannabis in the US and Canada, it has become a great deal to make investment in the stocks. The opinions of people have changed regarding marijuana and it has become socially acceptable for creating a profit opportunity.
The recent stock market analysis has shown a big growth rate for marijuana stocks over the past few years. Marijuana penny stocks have been the highest growing stocks and this is the most desirable time for the investors to make their selection for the most promising penny stocks in marijuana segment. The medical marijuana market is expected to grow higher towards $21 billion marks by 2020.
Below are some of the best stocks having the potential to double or triple their values by the end of this year. With the news of marijuana being legalized and accepted in various new regions, the stocks will certainly gain popularity and recognition with their own hype. You can prepare your own list and start doing research on the sales, distribution and popularity figure of the stocks to finally make a decision to invest in them.
- American Cannabis Company Inc (AMMJ)
American Cannabis Company Inc. is basically a consultant firm providing the whole package for the budding industries. It has helped to establish the most promising setup for the new marijuana industries. It also gives marketing, staffing and branding solutions for their customers. The company is expected to gain popularity with the positive sentiment of the cannabis industry in the US.
- Cannex Capital Holdings (CNXXF)
Cannex Capital Holdings is a cannabis-focusing equity firm giving lease on the licensed cannabis cultivation facilities. The company has one production and distribution facility and two cultivation and growing facilities in Washington, DC. This is a great stock to invest in the marijuana market and is expected to grow rapidly in the coming phases.
- InMed Pharmaceuticals Inc. (IMLFF)
InMed Pharmaceuticals Inc. is a drug commercialization and development company focusing on the medical usage of cannabinoids. The company’s R & D has been working on the exploration of various tools to match rare cannabinoids with its own specific usages. If the company works well on the clinical trials, it is evident that it will have no limits for development.
- Auxly Cannabis Group (CBWTF)
Auxly Cannabis Group is a company having wholly-owned cannabis farms having an anticipated production of 170K kg of cannabis in 2019-20. They also provide value-added services and products for retail or wholesale operations linked with the cannabis sector. The enhanced value of cannabis stocks will lead this company towards a higher move in the coming phases.
- Aleafia Health (ALEAF)
The final stock on our list is Aleafia Health and it grows its farms for medical cannabis use. The company has applied for its listing on NASDAQ but the proceedings are not so clear till date. The company has plans to acquire certain named groups and include them in the health and wellness segment for marketing high-quality products. At present, the company has 25 medical cannabis clinics and education centers.