There are some cannabis penny stocks that can make you a lot of money. However, you need to do thorough research to find them.
Overall, the cannabis industry has been garnering a lot of attention in recent months. Largely, the industry is becoming increasingly seen in a positive light by most investors. In fact, if there is a sector to watch for some substantial market action, it is cannabis.
For a savvy trader, penny stocks are the easiest way to get into the sector. These stocks are cheap and have yet to make it into mainstream news. On that note, here are 4 cannabis stocks that are beginning to rally after a previous drawdown.
Cannabis Science (OTCMKTS: CBIS)
Perhaps, the most speculative of cannabis penny stocks is CBIS. The shares are currently priced at 0.028100 USD, having appreciated by 0.36% on its recent trading day. The company itself has only a market capitalisation of ~ $75 million.
However, with the announcement of its eagerness to solve medical problems for which current treatments and understanding are unsatisfactory, Cannabis Biosciences (OTCMKTS: CBIS) may be poised to rally even further in coming days.
©TradingView. July 19, 2019.
Just recently, the company announced its partnership with the International Phytomedicines Institute (IPI) at the Harvard Medical School to explore cannabis as a pain management medicine for less-affluent nations.
United Cannabis Corps (OTCMKTS: CNAB)
If there is a cannabis penny stock that should be on your radar in coming weeks, United Cannabis Corps (OTCMKTS: CNAB) is.
On July 16, it was announced that United Cannabis had signed a CBD isolate contract worth up to $42 million to supply its hemp-derived CBD isolate oil product to a customer over the course of 100 weeks. The product will be processed at its newly formed Colorado-based MEAD facility.
By market close on July 19, United Cannabis Corps (OTCMKTS: CNAB) had shed about 6.7% of its value for the day, closing at 0.7100 USD.
CannTrust Holdings (TSX: TRST)
CannTrust Holdings (TSX: TRST) recently made the list of potential largest growers of weed. However, it has a lot of licensing problems. To their dismay, investors discovered that the company has been rallying its production capacities using unlicensed facilities, a development that led to the retracement of its market capitalisation to a low of $362 million.
Nevertheless, the production upgrades recently made by the company should bode well for its performance in the long term. The efforts of the United States Food and Drug Administration in speeding up the regulation of cannabidiol (CBD) will positively impact the performance of cannabis stocks.
©TradingView. July 19, 2019.
TRST closed the July 19 trading day at 3.62 CAD. It had depreciated by 5.73% for the day.
Aleafia Health had an impressive run of deals in the past few months. On July 12, the company secured Health Canada License Amendment for entire 1.1million sq.ft. Port Perry Outdoor Production facility. The stock responded, appreciating by 3%.
Earlier in the same month, it was added to the NYSE-listed The Cannabis ETF (NYSE: THCX), an index seeking to track a portfolio of 35 stocks that are expected to benefit from the cannabis growth.
By the end of the July 19 trading day, Aleaf Health (OTCMKTS: Aleaf) rose to close at 0.8979 USD and 1.16 CAD on OTC and TSX respectively.