Marijuana penny stocks continue to be a mainstay in the stock market and for cannabis stock investors, these 3 companies have become more active in July
Investing in penny stocks can often prove to be highly rewarding if an investor can select the right sector and the right stock. In the regard, marijuana penny stocks could be a good place to start and particularly so, considering that fact that the industry is getting a lot of attention at the moment.
It is still a nascent industry and even smaller firms have the capability of growing into big operations, which is why many of these pot penny stocks hold a lot of promise. Here is a look at three marijuana penny stocks that made significant moves recently.
Marijuana Stock To Watch #1:
Flowr Corp. (FLWPF)
Flowr’s (FLWPF Stock Report) best-known product FlowrRX has emerged as the most expensive marijuana product on Shoppers Drug Mart. Flowr’s biggest competitive advantages are lower costs, higher yield, and high priced products. Hence, it has generated a lot of attention among investors.
While the stock has gained substantially this year so far, an analyst at Jeffries has stated that there could be further 20% to 40% rise in the stock price over the long term. Could there still be a substantial gain for investors who are looking to buy marijuana stocks like this right now?
Pot Penny Stock To Watch #2:
Aleafia Health (ALEAF)
Aleafia Health (ALEAF Stock Report) is another pot penny stock that experienced a significant upsurge this past week. It happened after the company announced the acquisition of an export license from Health Canada to ship its product internationally.
The company will now ship products to Australia, which would then be distributed by a local firm. ALEAF stock surged as much as 30% last week but declined by 5% at close to below $1 on Friday. This came amid widespread profit taking from marijuana stock investors. Nevertheless, the stock has almost half of its value from its February peak price of $2.10.
#3 On This List Of Marijuana Stocks:
Zenabis Global (ZBISF)
Lastly, it was Zenabis Global (ZBISF Stock Report) which had a particularly eventful week among marijuana penny stocks. Much of that had to do with the company’s agreement with Tilray (TLRY).
Zenabis will be supplied with C$ 30 million worth of dried cannabis, which would then be processed. This marked another important deal for the company. Zenabis shares surged by as much as 30% after the marijuana stock news broke but gave up 55% of its value on Friday. Can shares turn around this week?
