3 Cannabis Stocks to Watch Right Now

Marijuana is still illegal under U.S. federal law, which means cannabis stocks are still speculative investments right now.

However, our neighbors to the north are creating a booming and more legitimate industry...

cannabis stocksThe number of medical marijuana patients across Canada has skyrocketed over the past two years. According to Statista, the quarterly number of registered medical marijuana patients was 30,537 between July and September 2015. By that same time in 2016, there were 98,460 registered patients, marking a 222% increase.

That's impressive, but it's just the start of how big the cannabis industry will be in Canada...

On July 1, 2018, Canada's Prime Minister Justin Trudeau plans to legalize recreational and medical marijuana throughout the entire country for adults aged 18 and over. By 2021, marijuana sales in Canada could total $4.5 billion, according to Bloomberg.

That's a 400% increase from the $900 million in legal sales in 2016.

And today, we wanted to make sure our readers know about three stocks that will benefit from legalization in Canada.

These aren't recommendations. Rather, these are marijuana stocks on our watch list.

Now, let's get to the first pot stock to watch...

Cannabis Stocks to Watch Right Now, No. 3: Emblem Corp.

Emblem Corp. (OTCMKTS: EMMBF) produces and sells medical marijuana throughout Canada.

Video

Which States Will Legalize Marijuana Next?

It also operates a health unit called GrowWise Health. The health unit provides comprehensive physician and patient education programs on medical marijuana. Patient educators provide personalized guidance on marijuana consumption guidelines, strains, safety precautions, and follow-up care.

Physicians are provided with a "best practice" checklist, protocols, and a comprehensive follow-up care package.

BREAKING: New Legislation Could Turn Tiny Pot Stocks into Millions. Click Here...

Acting as an all-in-one service for medical marijuana, Emblem's business formula could create massive sales. Patients are provided with health information through GrowWise on what cannabis to purchase, and then they are able to buy medical marijuana through Emblem.

As of May 18, approximately 2,100 patients have enrolled in Emblem's patient fulfillment website since November 2016.

And when marijuana is completely legalized in Canada, it will be easier for even more patients to enroll.

EMMBF stock has been volatile over the last 52 weeks, trading between $1.14 and $3.81 per share. So far in 2017, the EMMBF stock price is down 27.5%.

And even though EMMBF is down now, it's on our watch list because it could rebound as EMMBF increases its patient totals when marijuana is fully legalized.

While Emblem is building its client list, we are also watching the largest network of referral-only medical marijuana clinics in Canada...

[mmpazkzone name="in-story" network="9794" site="307044" id="137008" type="4"]

Cannabis Stocks to Watch Right Now, No. 2: Canabo Medical Inc.

Canabo Medical Inc. (OTCMKTS: CAMDF) owns and operates Canada's largest network of referral-only clinics for medical cannabis, with 16 locations across Canada.

On May 15, Canabo announced it entered a collaborative agreement with Terra Life Sciences Inc., a holding company that owns and operates two medical facilities.

Through the agreement, the companies will work together to develop new cannabinoid-based (chemicals unique to cannabis plants) formulations to relieve symptoms like chronic pain and anxiety.

Canabo and Terra Life will share future revenue from any new formulations developed. And with marijuana legalized throughout Canada, more patients will have access to the new cannabinoid-based formulations, increasing sales when any new formula is ready.

Over the last 52 weeks, CAMDF stock has traded between $0.01 per share and $1.28. So far in 2017, the CAMDF stock price is down 6.44%.

Cannabis Stocks to Watch Right Now, No. 1: MassRoots Inc.

MassRoots Inc. (OTCMKTS: MSRT) is a social media platform for marijuana users with over 1 million users as of March 20.

The company is based in the United States, but it operates in every state and country that regulates the production of cannabis. And on October 2016, MassRoots announced it entered into the first international partnership between cannabis companies.

The social media site agreed to build awareness for Aphria Inc., a licensed producer of medical cannabis in Canada.

In return, Aphria will compensate MassRoots for each customer referred. Aphira also purchased 500,000 shares of MSRT stock at $0.90 per share on Oct. 17, 2016.

If the deal proves successful, more marijuana companies could work with MassRoots when cannabis is legal in Canada, helping to increase MSRT's revenue through referral fees.

MSRT stock has traded between $0.38 and $1.18 over the last 52 weeks. So far in 2017, the MSRT stock price is down 10.16%.

However, these aren't the only marijuana stocks on our watch list...

Thanks to this historic legislation, tiny pot stocks trading for under $5 are getting set to double, triple, or quadruple. In an exclusive interview with Money Morning, pot stock expert Michael Robinson shares all the good news - including details on five tiny weed stocks that could potentially turn a small stake into $100,000. Click here to continue.

Follow Money Morning on TwitterFacebook, and LinkedIn.