Have You Been Watching Marijuana Stocks This Month? Big Industry News Has Sparked Up Interest In A Number Of These Penny Stock In August
Marijuana stocks have been one of the hottest equity classes when it comes to the investment until a few months ago. But now plenty of pot penny stocks have lost value as the sector tries to figure out the next stage of growth. However, there are plenty of penny stocks that still seem interesting.
As everyone knows, there’s always a possibility of generating great returns if a company’s business plan leads to growth. Here is a look at three marijuana penny stocks that have been doing well recently.
Marijuana Stock #1: Aleafia Health
The first marijuana stock to watch: Aleafia Health (ALEF) (ALEAF Stock Report). This continues to hold a place on the top marijuana penny stocks to watch in 2019. We’ve written about this company several times this summer already. Aleafia stock has climbed significantly over the last few days. This came after it emerged on August 2 that the company is considering a hostile takeover bid for troubled outfit CannTrust Holdings (CTST) (TRST– Stock Chart).
[Read More ] 3 Marijuana Stocks To Watch In The News This Week
While it is true that CannTrust is currently in all sorts of trouble, the company has managed to create a credible operation. It could prove to be a major coup for Aleafia Health. As soon as the news hit the wires, Aleafia stock started climbing. So far, it has gone up by as much as 18%.
Marijuana Stock #2: 22nd Century Group
22nd Century Group Inc. (XXII Stock Report) uses biotechnology to come up with ways to combat the harmful effects of smoking tobacco. The company has now entered the cannabis space as well and its focus is on cannabis oil. It hopes to make it ease the process of CBD oil extraction for companies which are involved in the business. Its technology is still awaiting FDA approval but on Friday XXII stock rose 13%.
Marijuana Stock To Watch #3: Auxly Cannabis
Last but not least; Auxly Cannabis Group (XLY) (CBWTF Stock Report) was on a roll last week. CBWTF stock gained as much as 10% after it emerged that Imperial Brands, a tobacco company, decided to invest $94 million in Auxly.
Auxly will get the intellectual property as well as vaping technology from Imperial. The development has fired up the prospects of marijuana stock. In the past week alone, the stock rose by 20%.