Marijuana stock investors have been hoping for high success in 2018 and 2019 due to the legalization of weed in various American regions. The market in 2020 is expected to grow with the maturity in the market and it is opening the gate for new business. Some marijuana stocks to buy in 2020 having a good scope in the upcoming times are:
CV Sciences works on the cannabis market for pharma and consumer related products. This company is based in Las Vegas and works on the development of CBD-based drugs. The performance of the stock was at higher prices in the third quarter of 2019. The company stocks are now at the pricing of a few cents less than $5 and would get a better scope in the coming phases. Although, it is an expensive penny stock there is a high growth expected that could justify the better revenues. Despite being a penny stock, the company has a strong market cap of $500 million which makes it a good choice for the investors looking for purchase of marijuana-related stocks.
This stock has its position in the Toronto Stock Exchange and the company is located in Ontario. The IPO of the company has raised over a value of $115 million. The company’s largest greenhouses, lower power rates, and US consumer earnings contribute to its earnings. The company has the largest greenhouse set up for cannabis and holds a position in the top contributors in the cannabis industry.
Auxly Cannabis Group, Inc. is a cannabis streaming company providing funds for cannabis production. The company holds minority equity interests and contractual rights for the operation of cannabis facilities in Canada. The stock price at present is $0.58 and the stock has a positive history and could move to double its value with the new projections in the business. The company’s unique business structure gives hope to the investors in bragging the best responses for its growth. Legal marijuana in many US sectors can pull the stock together and it is probable that the values touch 70 cent value in a short interval.
- MPX Bioceutical (MPXEF)
MPX Bioceutical has the operation of producing medical-grade cannabis and following the green lifestyle. The company represents to have a joint venture with Panaxia (Israel Pharmaceutical company) to produce smokeless cannabis products. The company is leading towards an impressive growth rate with the speculations. The company’s stock value is approximately $0.92 which is projected to grow in the coming phases with marijuana’s legalization.
Canada was the first G7 nation for approving recreational weed and hence, the major marijuana penny stock segments are based in the region. The management of Supreme Cannabis Company focuses on the B2B strategy and enables the company to make attempts to get effective responses. SPRWF stock almost doubled in August-September months and crashed down in October 2018. There are still chances for this stock to achieve positive results with the new policies.