One of the most important things to keep in mind when you want to buy marijuana penny stocks is the fact that these stocks are inherently volatile in nature. Therefore, you should be a bit careful about your choices. We always talk about making a list of penny stocks before you start spending money. At the very least, you can have all of your choices in one place and then compared things like charts and fundamentals.
However, it’s also true that there is huge potential in the marijuana industry. A small pot company can sometimes grow rapidly, thereby creating value for the shareholders. That being said, marijuana stocks have been getting hit hard this summer. Here is a list of pot stocks to take a closer look at. They’ve all been beaten down but as summer comes to an end, could they recover? Or are they doomed for new lows still?
Pot Penny Stock To Buy Or Sell #3: MedMen Enterprises
California is the largest cannabis market in the world. MedMen Enterprises Inc (CSE:MMEN) (MMNFF Stock Report) has managed to corner a part of the market in the state. It has as many as 17 retail outlets in the state. In new developments, MedMen announced this week that it will begin making home deliveries. It’s a significant announcement since it could open opportunities to increase the company’s sales volume. As soon as the announcement was made, MMNFF stock started climbing.
Though the penny stock climbed by 6% on Monday. It would not be a surprise if investors retain an interest in the stock throughout the week. However, the overall trend for this pot stock is drastically different from just this small time frame. Why? Just a few days ago the cannabis company’s stock hit fresh 52-week lows. So it’s still to be seen as if MedMen will be a marijuana penny stock to buy before 2020.
Pot Penny Stocks To Buy Or Sell #2 CannTrust (CTST)
When you talk about different marijuana stocks to buy or sell, you can’t leave CannTrust (CTST Stock Report) out of the conversation. This company once saw its shares trade near $12 a share. This week, CTST stock came close to testing new 52-week lows. Just for your information, that number is $1.87.
The beleaguered penny stock hasn’t caught a break. Unlicensed grows, management troubles, you name it. And it hasn’t stopped during the latter part of August either. The Ontario Cannabis Store, a government-run business, said some of its products weren’t quite up to par. So like any unhappy customer, they returned it. Who did they return it to? Well, CannTrust, of course. Nothing big, except a batch of products valued at almost $3 million.
Pot Penny Stocks To Buy Or Sell #1: General Cannabis
The other big pot penny stock to watch General Cannabis Corporation (CANN Stock Report). This could be one of the top-performing pot penny stocks on this list. That’s especially after it made a major announcement with regards to an acquisition. On Monday, the company announced it had entered a term sheet for the acquisition of a cannabis retailer in Denver.
As soon as the announcement was made, CANN stock surged. On Monday alone, it jumped by as much as 21%. It is a major move and one that could result in further upward movements in the near future. Furthermore, the marijuana stock has been in a sustained uptrend since the beginning of August.