marijuana penny stocks to watch

The marijuana industry in the U.S. has been plagued sometime now on the federal level. This has been due to the fact that the government still has marijuana scheduled as a narcotic alongside drugs like heroin and LSD. After years of prohibitory legislation and societal condemnation, recent headlines suggest that cannabis may soon have its day in court. That could mean big things for marijuana stocks.

The Food and Drug Administration has scheduled its first public hearing to consider legalizing cannabidiol (CBD) for use in food and drink. The meeting is scheduled for May 31 at the FDA headquarters in Washington D.C.

Over the last few months, we’ve seen a massive shift in public opinion towards cannabis and the marijuana stock market. Whereas investors may have previously avoided cannabis companies, now it seems like everyone wants a piece of the action.

“It’s critical that we address these unanswered questions about CBD and other cannabis and cannabis-derived products to help inform the FDA’s regulatory oversight of these products – especially as the agency considers whether it could be appropriate to exercise its authority to allow the use of CBD in dietary supplements and other foods.”

FDA Statement

For those unfamiliar with cannabidiol or CBD, it is a non-psychoactive compound found in both marijuana and hemp plants. CBD can be used for a wide range of medical applications including as a treatment for anxiety. The marijuana stock industry has exploded. There’s a lot of excitement surrounding companies manufacturing CBD tinctures and balms. But instead of medical products, these new products are for retail consumers in the market for alternative, more natural products.

Over the last few months, we’ve seen a massive influx in companies offering CBD-infused beverages. Products such as teas, sodas, and lattes, all with the hope that the FDA will soon update its regulations. A favorable outcome would allow such products to be distributed across the country.

Many of these companies are still in their infancy. They have small market capitalizations, meaning that they trade as penny stocks. Companies like Charlotte’s Web (CWBHF Chart) and Aurora Cannabis (ACB Chart) are just two examples. These companies are investing resources in manufacturing and distributing CBD products for consumers. They also have shown how marijuana penny stocks can quickly explode onto the scene. They started as penny stocks but soon leave the price range in the dust.

A Penny Stock Play And Then Some

People interested in investing in penny stocks have recognized that a considerable amount of micro-and-small cap companies are working to create CBD products for the cannabis consumer market. Many of these marijuana stocks are still very new to the industry so their market capitalizations aren’t at blue chip numbers quite yet.

With the FDA’s hearings on CBD only a few months away, several companies received warning notices from both the FDA and the Federal Trade Commission on Tuesday — Advanced Spine and Pain’s Relievus, Nutra Pure and PotNetwork Holdings — stating that they have advertised unsubstantiated information regarding their CBD products, such as aiding in cancer treatment and other diseases. These could be companies to be cautious of.

According to several sources, it’s still illegal to use an ingredient in any consumable product that’s still being researched or is the active ingredient in a prescription medication, including CBD. The FDA will need to find a way to establish CBD as both a drug additive and a food/drink ingredient. What marijuana stocks are you invested in right now? Leave a comment below

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