There is a growing trend of marijuana penny stocks to buy in 2020. It is indeed an attractive option and the wave of the legalization of cannabis seems irresistible. In the previous 12 months, there has been a trend of legalization seen for weed in Canada and the US. There is a hope to get the way for the US government to legalize cannabis in every sector for adult-use and medicinal purposes. The news for legalization from Mexico government on October 31, 2018, was a big plus for the cannabis industry. All penny stocks are not worth your investment or time and hence, in the field of cannabis stocks also, you need to be very particular about the stocks to buy.
Here is the list of three best marijuana penny stocks 2019 to own now. These stocks are in trend with the legalization of marijuana and work well for the upcoming three quarters of the year. These top pot stocks on the list could even produce the profits of more than 5 times its present value.
- Easton Pharmaceuticals (EAPH)
This company is a Toronto based pharma group having specialized designs, development and marketing strategies in the therapeutic healthcare products. The company exists in 1997 and produces various important medications which are helpful in building a strong medical marijuana space. Viorra (topical cream for the treatment of sexual dysfunction), Nauseasol (morning sickness relieving gel), Kenestrin (elbow arthritis treatment), Renou HA (anti-wrinkle cream for delaying the aging process) and XILIVE (early-stage treatment of cancer). The stock price of the company at present is $0.011. The developments and cannabis-licensing will bring the company to a higher level in the upcoming phases. Easton Pharmaceuticals Inc. has updated very recently on the Canadian Dollars 2,600,000 farming contract for building 150 homes outside the Toronto region. The company worked on the acquisition of a Canadian Cannabis company called the Alliance Group.
- 22nd Century Group Inc. (XXII)
This company is based in New-York and works as a unique pot penny stock owned this year. The company creates the plants having lower nicotine levels with its advanced engineering concepts. There has been an achievement in the company for producing tobacco with 97% lesser level of nicotine content. The product aims at weaning off the drug and give a reduced exposure to the dependent smokers. With the news for the global hemp market to grow at a large scale by 2025, the company will have better trades from the present value of nearing $2 per share. The stock returns could become higher with time.
- Marijuana Company of America (MCOA)
Marijuana Company of America works in development, manufacturing, and marketing of the cannabinoid consumer products under the hempSMART brand name in the US and Canada. The hemp derived products are wellness products that reduce minor discomfort and relaxes the muscles. The company also provides accounting and bookkeeping services for cannabis companies. MCOA stock sells its products through its websites as well as the affiliate marketing program in offline business. The company has stocks priced at $0.011 and is projected to get better prospects with its innovative ideas.