With 30 states and the District of Columbia having legalized medical cannabis in some form, it's clear where to find the top marijuana penny stocks...
The medical marijuana sector.
In the long term, Money Morning believes the cannabis industry is too big to stop. California just legalized recreational marijuana sales in January, and other states across the country can use California as a roadmap for their own legalization.
Legal cannabis sales in North America are expected to climb from $10 billion in 2017 to $24.5 billion in 2021, according to Arcview Market Research.
That's a 145% sales increase in just two years.
But right now, recreational marijuana is only legal in in eight states.
Meanwhile, medical cannabis is legal in nearly 70% of the country already.
That's why today, we wanted to share all the details with Money Morning readers about three of the top penny pot stocks to buy now.
The first cannabis pot stock on this list has climbed from $0.39 to $0.64 over the last 12 months - a 64% jump.
And if the stock price keeps that kind of momentum, it could climb another 64% over the next year...
Marijuana Penny Stocks to Buy Now, No. 3: GB Sciences Inc.
Las Vegas-based GB Sciences Inc. (OTCMKTS: GBLX) sells equipment to grow marijuana indoors.
The company also "intends to produce" cannabis-based drugs.
GB Sciences reached a research agreement with the University of Seville in October 2017 for the development of a THC-free pain drug that is cannabis-based.
GBLX currently trades for $0.65 per share. Over the last 12 months, it's climbed 64.10%, from $0.39 per share to $0.64.
If the stock price keeps climbing like that from February 2018 to February 2019, GB Sciences could be worth $1.05.
Breaking: California Marijuana Legislation Sparks the Most Profitable Opportunity of 2018. Click here for Details...
And the next stock on our list has performed even better than GBLX, climbing from $0.30 to $0.74 per share in the last 12 months.
If the stock price keeps that kind of momentum over the next year, that's another potential gain of 146%...[mmpazkzone name="in-story" network="9794" site="307044" id="137008" type="4"]
Marijuana Penny Stocks to Buy Now, No. 2: InMed Pharmaceuticals Inc.
InMed Pharmaceuticals Inc. (OTCMKTS: IMLFF) is a Canadian biopharmaceutical company that produces pre-clinical-stage, cannabis-based drugs.
InMed's leading drug is called INM-750, which is a topical treatment for patients suffering from epidermolysis bullosa.
This is a genetic condition leading to widespread blistering of the skin.
And if you want to invest in penny stocks in the cannabis sector, InMed is one of the safer investments for several reasons.
First, the company is Canadian, and marijuana is about to become completely legal for adults in Canada by the end of this summer.
Second, even if the laws regulating marijuana for recreational use hit some snags, there will still be a massive demand for marijuana-based drugs that won't be impacted.
IMLFF is currently trading at $0.74 per share. Over the last 12 months, the stock price has climbed 146%, from $0.30 per share to $0.74.
If it climbs another 146% in the next 12 months, IMLFF could trade for roughly $1.83 per share.
And while IMLFF could have the biggest gains on this list, this next pick is one of the "safest" ways to play the penny pot stock market and still make a profit...
Marijuana Penny Stocks to Buy Now, No. 1: Surna Inc.
Surna Inc. (OTCMKTS: SRNA) is a Colorado-based company that sells irrigation systems, climate control systems, reflectors, custom indoor growing systems, and LED lights.
Because Surna doesn't operate retail locations, it could be one of the safer plays in the cannabis market.
This is because the company doesn't cultivate marijuana or operate dispensaries, so it doesn't have financial resources at risk or products under threat from the federal government.
This could also make Surna a prime acquisition target for a larger company in the future, some of which have been snapping up smaller hydroponics equipment companies for the past several years.
Surna increased its sales by 34% in Q3 2017 and was able to raise $1.8 million in private equity in Q4 to be used for future growth.
Over the last 12 months, the SRNA stock price has climbed 37.5%, from $0.16 to $0.22 per share.
If the SRNA stock price climbs another 37.5% over the next 12 months, the Surna stock price could trade for roughly $0.30 by February 2019.
And these aren't the only potential profit opportunities in the future $20 billion cannabis market...
Make Millions Thanks to California's Cannabis Explosion
$20.2 billion... that's the amount of money expected to pour into California's cannabis market in just the first year the state goes fully legal.
Mark our words: The savvy investors who know how to get in on the ground floor could see a small stake turn into a million-dollar windfall.
We've narrowed down the pool to three tiny California cannabis companies expected to deliver once-in-a-lifetime fortunes. But once these small stocks go from $1 to $10, to $20, or more... you may never see a chance like this again.