The stock market is moving along strongly in 2014 and a surprising trend is being seen – marijuana stocks are soaring.
With the legalization of marijuana, the companies that legally sell and grow this substance are seeing their stock prices soar.
Thankfully, the industry is still in its infant stages so investors have chosen many penny stocks to buy in this sector.
In January alone, one marijuana company’s stock grew over 800 percent. With this in mind, the stock is still priced low enough to be in the penny stock range. Those that choose to invest in the company can reap profits all year long. Let’s take a look at the top penny stocks to watch this year.
GreenGro Technologies, Inc.
GreenGro, GRNH, is not a grower of marijuana, but a dispensaries overseer. This company has been around since 2003 and really started to become noticed in 2010 when their stock prices soared. In 2014 when the stock saw an over 800 percent increase, it became evident that GreenGro was onto something big.
The company provides growers with the facilities they need to grow cannabis. GreenGro will plan, construct and even provide staffing for companies. The meager stock price started at only 5 cents a share at the start of the year and sits at over 44 cents today.
This is one of the safer stocks simply because they specialize in agricultural systems. This allows the company to expand to further markets.
Medical Marijuana Inc.
Medical Marijuana Inc, MJNA, was the first publicly traded company in the marijuana industry. The company is one that has seen immense growth thanks to marijuana legalization. While the company caters to those in the medical field, they offer a wide array of products that deal with hemp as well.
The company offers:
- Vapors Haze Technologies
The company’s biggest asset is that they have a large portfolio of companies that are within their profile. HempMedsPX is one such company that has recently become the exclusive distributor for CannaVest Corp.
HEMP Inc, HEMP, is one of the biggest beneficiaries of marijuana legalization. Not only is the company stock’s soaring, but it is up over 1,000 percent since the beginning of the year and saw its largest increase in February.
HEMP Inc is the parent company of Marijuana Inc. There have also been a plethora of other companies that HEMP Inc has acquired. This includes ECO Harmony, Cartel Blue and several others which operate under the company.
The company attempts to provide education as well as ancient hemp solutions to consumers. The company has seen major growth this year alone and will continue to see its stock price rise as legalization becomes more widespread. This is definitely one of the penny stocks to buy this year as the company’s diverse divisions have proven to be very valuable assets.
Cannabis Science Inc.
Cannabis Science Inc, CBIS, saw its stock price soar over 240 percent in January. While investors were quick to buy the stock, it shows no signs of slowing down soon. The company saw their stock start the year at around 5 cents a share. Currently, the stock sits above 17 cents a share and is continually rising month-to-month.
Cannabis Science is an interesting choice because they work in the medical field alone. Not only is the company trying to better the lives of patients, but they have come up with their own treatment options that are unique.
The company recently announced a new round of funding that brought in over 1 million dollars as well as the expansion of the company’s operations into the Spanish market. With cannabis becoming vital in the medical industry, Cannabis Science will continue to grow.
Growlife Inc, PHOT, has seen amazing success this year and has become somewhat of an investor’s dream. Just 6 short months ago, the stock was selling for just 3 cents a share. This is when the major increase in its price began when it shot up to over 15 cents a share by end of 2013. Now, the stock is sitting at 53 cents a share with no signs of slowing down.
Growlife has been able to benefit from marijuana legalization greatly in 2014. Growlife Inc provides growing equipment to consumers and commercial operations alike. The legalization of marijuana in Colorado has truly played an integral role in the company’s stock price increase.
The company is not slowing down with its recent success. They have purchased Urban Garden, plant growing companies and hydroponic companies in the last year alone. With the major investments seen, Growlife can turn into the biggest equipment distributor in the market.
The fascinating part about these penny stocks is that they are all benefiting greatly from the legalization of marijuana. With the growing effort to legalize cannabis even further, this may mean that these same companies turn into the most popular brands in the country.
The marijuana industry, or the legalization of the industry, is still in its infancy. This means that these are currently the penny stocks to buy to make great returns. With just one state providing legalization, many of these companies saw increases of more than 500 percent. For those that have invested in these companies, a lot of money has been made.
Going forward, the marijuana industry may be the best penny stock decision that a budding investor can make. While the future is always uncertain, there is definitely room for growth in the industry.