We're bringing our readers two marijuana penny stocks to watch in October 2017 before legal marijuana sales explode 198% by 2020...
Legal marijuana sales in North America last year generated $6.7 billion, and that number is expected to climb to $20 billion by 2020.
And in order to net the biggest gains before the 198% jump in sales happens, you need to know the penny pot stocks to watch.
Now, because marijuana is still illegal under federal law, cannabis stocks are speculative investments. Most pot stocks are traded on over-the-counter exchanges, which makes them subject to fewer regulations and disclosure rules, making them riskier to own.
But we still wanted to make sure Money Morning readers know about these two marijuana stocks right now because there is specific news that could move the prices in October...
Marijuana Penny Stocks to Watch, No. 2: Zoned Properties Inc.
Zoned Properties Inc. (OTCMKTS: ZDPY) owns two marijuana cultivation properties, two dispensary properties, and two properties are in development for marijuana business use.
And on Oct. 5, 2017, Zoned Properties held a virtual presentation that highlighted positive news about the company.
Zoned Properties signed a five-year commercial lease with an unnamed tenant in its Medical Marijuana Business Park in Tempe, Ariz., for a 2,500-square-foot space. The Medical Marijuana Business Park is now more than 50% leased, according to Marijuana Business Daily.
Financial terms for the leased property weren't disclosed, but Zoned is making more money because it's filling its property space.
Special Report: Cannabis Is the Gold Rush of the 21st Century - 30 Stocks to Invest in Now. Details Here...
In the presentation, the company announced revenue increased from $823,000 in the first six months of 2016 to $1 million in the first six months of 2017.
That's a 27% increase.
Now, it's true the ZDPY stock price has been volatile over the last 52 weeks, trading at a low of $0.50 and a high of $3.88.
Today, it opened at $0.76 per share.
However, signing more clients to long-term leases will provide steady revenue, which should attract more investors and help the stock price climb.
And while the ZDPY stock price could move in October thanks to positive information from the presentation, it's not the only marijuana company that's making news.
This next marijuana company announced yesterday (Oct. 10) that it's launching a new ad network.
In fact, an optimistic outlook shows this company could net billions from the advertisements...
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Marijuana Penny Stocks to Watch, No. 1: mCig Inc.
MCig Inc. (OTCMKTS: MCIG) is a full-service cannabis company that offers everything from construction to production packaging.
And it's now trying to capitalize on its reach throughout the marijuana industry through an online ad network...
On Oct. 10, the company announced the launch of its new cannabis online ad network, eHESIVE. Through the network, mCig will offer online publishers and advertisers a platform to target cannabis users.
This is a big deal for marijuana companies...
Cannabis companies can't advertise on Facebook Inc. (Nasdaq: FB) or Google. And because Facebook has over 2 billion monthly active users and over 77% of global Internet searches are performed on Google, these marijuana businesses are left at a disadvantage when it comes to reaching new customers.
The eHESIVE platform solves this problem by allowing marijuana businesses to advertise on its platform and reach new customers, and the company is extremely optimistic about its profit potential.
"Double-Click, an ad network that survived the dot-com crash, was acquired by Google for $3.1 billion. As mCig develops its market share early in the game, the company also expects its advertising segment to also reach a significant valuation," an Oct. 10 MarijuanaStocks.com report said.
Over the last 52 weeks, the MCIG stock price has traded at a low of $0.05 per share and a high of $0.50 per share.
Today, the MCIG stock price opened at $0.17 per share.
But as the company grows eHESIVE, it should increase its revenue and attract more investors, potentially sending the stock price higher.
"EHESIVE is the enterprise digital marketing solution I wish we had when mCig entered the cannabis industry," mCig CEO Paul Rosenberg said, according to MarijuanaStocks.com.
Want to Invest in Weed and Don't Know Where to Start? Well over half of the country already has marijuana legally available in some form. Eight states plus our nation's capital have made it completely legal to anyone over the age of 21. And the marijuana stock market is preparing to take off. Watch this short video and see whether jumping on this moon-bound stock rocket is right for you.