Marijuana industry has indeed become a very hot industry. There is an increasing demand of penny stocks from weed companies due to the legalization of marijuana. Currently, it is considered to be a very good investment and highly profitable also. Basically, it is the pharmaceutical stocks of these companies seem to be more attractive. But recreational marijuana is also in great demand and can probably grow well in the upcoming times. Companies with the supply of both medical and recreational marijuana are deemed to be in a better state.
Before making any investment, it is advised to deeply analyze the preferable companies. The financial set-up of the company, its policies, historical background, current status and income are some of the main criterion to look out for before taking any decision. Look out for companies that have signed contracts with solid companies. This minimizes losses since the financial background of such companies is strong and the losses get recovered easily.
Let us have a look at some of the best penny weed stocks in talks right now:
- AMERICAN CANNABIS COMPANY INC. (OTCMKTS: AMMJ)
This company has its headquarters situated in Denver, Colorado, United States and was founded in 2001. Its penny stocks are really very cheap and do not cost beyond $1. This can be seen from its 52 Week Range that lies between $0.2110 and $0.8400 with an average volume of 74,159. It has recently publicized its tactical joint deal with American Deal. It is a very progressive company and keeps itself engaged in finding new and better deals to come to the spotlight which it has managed to do so. It offers consultation and solutions to cannabis companies in the United States and Canada. This company can be a good investment for those who are interested in short-term investments.
- INMED PHARMACEUTICALS INC. (OTCMKTS: IMLFF)
InMed Pharmaceuticals was founded in 1981 and has its headquarters in Vancouver, Canada. It makes drugs for the treatment of several ailments. Some of its cannabis-based products are used to treat epidermolysis bullosa, glaucoma and orofacial pain. This company is continuously trying to strengthen its IP portfolio for its Biosynthesis Platform Technology. The 52 Week Range of this company is lying between $0.2170 and $0.8200 and its average volume is 286,371. As of now, it does not give any dividends but that should not stop a stock aspirant from making an investment because the drugs that the company is producing will soon take it to the top.
- AUXLY CANNABIS GROUP INC. (OTCMKTS: CBWTF)
This company is definitely one of the best companies to invest in right now. It was previously known as Auxly Cannabis Group Inc. and got its new name in June 2018. The pace with which it is intensifying is commendable. It was established in 1987 with its headquarters in Toronto, Canada. It deals in all kinds of cannabis related activities from cultivation and development to the distribution of the products. The 52 Week Range of this company is $0.4440 to $1.2600 with an average volume of 1,080,195. Hence, this company is very good for obtaining profits.
Penny stock world is never risk free. Wisdom and tolerance are the keys to success in this business. Patience can actually make a person rich by investing at the right spots. Earnings are speculative but will definitely come if one stays calm and composed and takes the right decision at the right time.