Weed Legalization in the U.S.
Marijuana Penny Stocks With so much excitement building around the potential breakout of a legal recreational pot business open for investment, the very profitable medical marijuana business usually gets overlooked. For those investing in marijuana stocks, that’s a big mistake. The top medical marijuana penny stocks have the potential to provide even more lucrative returns.
It’s important to remember that the path to weed legalization in the U.S. is on two different tracks for medicinal and recreational marijuana. While recreational marijuana is gaining steam across the U.S., with Nevada being the latest state to enshrine the legal usage of marijuana into law, it’s still a far ways behind on medicinal marijuana.
Marijuana Penny Stocks
While the majority of Americans do believe that marijuana should be legalized, both federally and statewide, the process is slow-going in terms of mass legalization. Sure, the most populous state in the country, California, has legal weed, as well as several other states and D.C., but that’s still nowhere near full acceptance. Not to mention that the drug is still illegal federally, meaning that technically, national agents could come in and close down every single recreational marijuana dispensary in the country.
You see, under the Obama administration, while not directly endorsing marijuana use, the former president and his team tacitly condoned states moving towards more legalization as federal agents stayed out of the states’ way once legislation was passed.
With that blow coming towards the Sessions crusade against marijuana and Booker pushing legislation, it was a great past week for the marijuana industry.
So with that good new coming in spades, let’s take a look at the marijuana stock list that shows two medical marijuana stocks I think are two of the top medical marijuana penny stocks.
Top Medical Marijuana Penny Stocks
Chart courtesy of StockCharts.com
Aphria Inc (TSE:APH)
Aphria has a lot going for it. It’s based out of Canada, which is set to legalize all forms of marijuana use by summer 2018. It has a novel way of growing its product—through greenhouses—that will lend it a competitive advantage. And it already supplies a good portion of medical marijuana to the market.
Canopy Growth Crop (TSE:WEED)
As the biggest player in the marijuana market, with a market cap of nearly $1.5 billion, it’s easy to see why such a huge and respected player in the market would be a solid penny stock.
In fact, it’s quite surprising that WEED stock is among the top medical marijuana penny stocks considering its size, but with the value of its shares well below $10.00, WEED stock is still in the penny stock phase of growth.
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