Since President Donald Trump has been in the White House (two years), the jury has been out if he kept his mega promises to his base and the American people. If you go back to look at the 2016 Presidential election, you would see how many people undeniably voted for marijuana legalization. The same has been true for the 2018 Midterm elections. Every cannabis advocate believes that these two facts should strengthen and reinforce the case for the most popular cannabis penny stocks.
In the year 2016, the popular vote went to Hillary Clinton and not Donald Trump. The people's will was heard by Americans loud and clear, especially in the state of California, which has a huge population in comparison to the rest of the United States. When locals in California voted to have full recreational legalization, it did well for cannabis penny stocks, but it also did well for the momentum as it related to the electoral. This point was proven during the Midterms in 2018. In the conservative states like Missouri and Utah, the locals voted for medical marijuana. The state of Michigan became state #10 to legalize recreational cannabis. Once this was announced on Election Day, the previously besieged cannabis penny stocks such as Cronos Group and Canopy Growth got a well-needed boost in the cannabis market. When marijuana is legalized, it opens up the market and offering lots of economic benefits.
In the state of Colorado during the year 2015, after the cannabis industry was legalized, the industry made almost a billion dollars in revenue. It went above the threshold in 2016 and its growth is still strong, even today. The fact that most states have a budget shortfall means that a little weed will go a long way and that is way cannabis penny stocks are so dominant as a result. Rather than taking up another risky venture, why not invest in cannabis penny stocks because it has already shown growth in the marketplace and industry? There are several players in this sector that offer great opportunities and possibilities for cannabis penny stocks. Let's take a look.
Auxly Cannabis Group
If you wanted to know a company with a unique and distinct business structure, it was Auxly Cannabis Group. It was the first streaming company in the cannabis industry. Many experts think that streaming is the approach to undercut any unnecessary risk in the cannabis industry and other industries at large. However, even in this case, there are some administrative and legal challenges that exist. As a result, the market has been a little unkind to the cannabis penny stocks belonging to Auxly Cannabis Group, but experts are hopeful that this is only a small snag or what most would call ‘growing pains.' The company has already shown potential and is worth the gamble.
Many cannabis penny stocks focus on the medicinal value of weed. MPX Bioceutical is a company that does this. The company has three brands that remains under the corporate umbrella; namely Health of Life, MPX and Salus BioPharma. MPX focuses on the green culture and lifestyle. The other two focus on medical cannabis. Salus BioPharma was formed by joint venture with Panaxia, an Israeli pharmaceutical company that makes smokeless marijuana products.
Supreme Cannabis Company
The Canadians are the ones that are forging the path for companies like Supreme Cannabis Company. Because Canada fully legalized recreational marijuana in October 17, 2018, cannabis penny stocks have become popular since and as a result, Supreme Cannabis Company stands out. The company focuses on B2B strategy, making sure it manages its cannabis penny stocks well and for that reason, it is one of the top companies in Canada to put your money on – as it relates to the stock market.
Another company that is tentatively making its way to the top of the stock market is Cannabis Science. The shares of its cannabis penny stocks might be a little lower than the rest, but it shows potential for the future. The company has made a bold claim to be able to provide innovative medical therapies to cancer patients, but consumers might want to see the proof first. Others think that the proof already exists since it has been tired and proven in the past. With so many patients looking for alternative ways to treat cancer, no wonder Cannabis Science has made the list of top cannabis penny stocks.