With the legalization of cannabis in Canada and the United States, marijuana stocks are some of the biggest winners. Many companies which faced losses in 2018 came up with a push in 2019 and the Canadian penny pot stocks have again come into action. There have been many undervalued weed stocks in 2019 which could become very prospective in the coming phases.
The date of October 17, 2018, was very important as it was the day when marijuana got legalized in Canada. The broader markets experienced a meltdown and the marijuana stocks also came down. Every sector was getting affected by the same. There was no reason for early-bird investors who were involved in the most lucrative industries in its early stages. The medical marijuana industry is expected to grow to a level of $146.4 billion levels over the 8 years. Investors usually keep a fair track of the industry that is well expected to grow to billions of dollars. It is not easy to keep the sentiments aside when you consider the earnings including revenue from the legalized weed sector.
Bullish Marijuana Stocks in 2019
Marijuana stocks took a positive going with the market in 2018 but those times have gone off now. The marijuana stocks will attain bullish status in the upcoming phases of the year. The view for marijuana stocks in 2019 remains strong mainly for Canadian penny pot stocks which were superintended till date. There are many excellent Canada-based stocks having strong fundamentals and trade under the radar. Most of the Canadian penny pot stocks are worth your time. Medical marijuana has been legal in Canada since 2001 and recreational marijuana got the legal rights in October 2018.
Recreational cannabis is legal in 10 US states and the Columbia district but it is still illegal at the federal level. Canada is far behind the US when it comes to the revolutionary marijuana market. There is a vast majority of marijuana stocks listed in Canadian stock exchanges and OTC markets.
Hot Canadian Cannabis Penny Stocks are listed below:
- Hexo Corporation (OTC: HYYDF, TSE: HEXO, NYSE: HEXO)
Hexo Corporation is one of the penny stocks having a good trading range. In the month of December, the stock hit a drop off the value for more than 50% of its existing value of $9.30 per share. Since then, the price of Hexo Corp has been rising and it has soon reached its existing level in recent times.
Hexo is an adult-use cannabis brand based in Quebec. It is one of the lowest-cost producers of the company having a capacity of 310K sq. feet of the production capacity. The company has expanded its operations and continues to build up the production capacity of dry cannabis. Hexo Corporation has established processing, production and distribution center in Greece. The common shares of the company were included to be listed on the New York Stock Exchange (NYSE) in January.
There has been a subsequent increase in the adult-marijuana use in the first two weeks with legalized Canadian rules. HEXO hit the best milestones in the legalized adult-use cannabis and had remarkable results to generate significant revenues in this year. The share prices have been advancing over the last few weeks and there is a subsequent growth recorded in the share prices to expand for the greater exposure to American investors interested to buy stocks on any of the stock exchanges in which it is present. 2019 will be a progressive year for HEXO and it is expected to cross the penny stock levels in 2020.
- Neptune Wellness Solutions (NASDAQ: NEPT)
Neptune Wellness Solutions Inc. is another Canadian penny pot stock which looks cheaper in its value. Similar to other cannabis stocks, the share price of the company took a high position in October and the prices dropped down in December to about half its value. The share prices of the company have headed over $4.16 at present.
Neptune Wellness Solutions have operated on the 5 key areas, including legal cannabis, pet supplies, consumer brands, Turnkey solutions, and various ingredients. In the month of January, the company received its license for processing cannabis from Health Canada. The company enables the company to handle the dried cannabis for manufacturing and purification of cannabis extracts and cannabis oils. The company is working through the licensing process with the company to start working on its facility in Sherbrooke. There is an expectation for the completion of capacity expansion of Neptune by March 2019.
Neptune share prices would soar in 2019 as the company attained its coveted license for processing cannabis from Health Canada. The company is positioned to be Canada’s largest cannabis processors with extended expansion potential facility of up to 6K metric tons for medical cannabis products.
- Origin House Stock Forecast (OTC: ORHOF, CNSX: OH)
Origin House is the registered name of CannaRoyalty Corporation. The company was doing well in 2018 and went to a 52-week high value of November 7, 2018. The sudden lowering of the price in December was a matter of concern for the investors. The share price of Origin’s has risen beyond $8 in OTC market which is a very positive signal. The rebound will obviously attract more investors and the higher acquisitions in the US and Canada will establish a strong presence of the company throughout the Canadian land. The company has delivered more than 130 branded cannabis products to the majority of licensed dispensaries and operates through the facilities working for distribution, manufacturing, marketing and cultivation for its brand partners.
Year to date, the company’s revenue record has been on a positive track. Origin House is basically a strong company having leadership as the most dynamic cannabis company throughout the world. The brand development of the company is highly valued and it is anticipated to grow the exceptional numbers throughout in 2019.
The marijuana company segment has a handful of bright names capturing the attention of stock analysts. The share prices could go high and even surprise the investors too ready to pay attention to marijuana penny stocks in 2019.