Marijuana Penny Stocks Are Still Red Hot & Even With A Slight Pullback, 3 Stocks Stand Out This Week
The ever-growing marijuana industry is a great place to look for volatile investments. Due to the growth the industry has experienced, pot penny stocks have rebounded in recent weeks. Most of the time, these companies will be penny stocks. If you’ve ever tried to buy penny stocks you know it may be difficult. Most of the time, the reason has to do with lack of access from certain trading platforms. But as these pot penny stocks gain popularity, more are finding ways to gain the ability to invest. Here is a look at three marijuana stocks that rallied back after having gone through a recent slump.
Pot Penny Stock #1: Aleafia Health (ALEAF)
The first pot penny stock to have made a remarkable comeback this month is that of Aleafia Health (ALEAF Stock Report), which bounced back by as much as 25% recently after diving by as much as 45% since the start of May. The medical clinic service company has been making a lot of interesting moves lately.
The company acquired the rival company Emblem and that has given it control of 40 more clinics. Additionally, on June 10th, Alefia announced Health Canada had awarded it an outdoor cultivation license for cannabis. The company projects yearly production of 138,000 kilos soon. If they manage to do that, then it could become one of Canada’s top cannabis producers.
Pot Penny Stock #2: The Flowr Corporation (FLWPF)
The Flowr Corporation (FLWPF Stock Report), which is involved in the cloning of cannabis flowers, made an important announcement today. The company announced that it has developed a proprietary technique known as the Clean Stock Protocol, which will keep its cannabis flowers devoid of pathogens and pests.
It is a significant development since it will now allow the company to draw in more customers from the cannabis industry and the market realized that as well. FLWPF stock rallied by 6% after this news broke following a 20% slump in Tuesday’s session.
Pot Penny Stock #3: KushCo Holdings (KSHB)
KushCo Holdings Inc (KSHB Stock Report) has been one of the most volatile pot penny stocks in the marijuana space for a few years now. Back in 2016, the stock slid below $1. But in early 2018, it hit $8. However, since then it had come back down to earth. Kush provides a whole range of services and products to different industries. It services the cannabis and CBD companies as well.
On Wednesday, the stock rose by 5% but there was no penny stock news that could have triggered the rise. It is important to note that in its Q1 2019 results KushCohad reported revenues of $35.2 million. Those figures reflect a year on year rise of 240%. The stock is down 20% so far in 2019 but the latest trend for this pot penny stock could change that.
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