2 Marijuana Penny Stocks to Watch in March 2018

Legal marijuana sales in North America are expected to skyrocket from $10 billion in 2017 to $24.5 billion by 2021, and our readers want to know how profit from the booming industry.

Marijuana Stocks

And to help our readers profit from this potentially explosive growth, we have two marijuana penny stocks on our watch list for March 2018.

These marijuana stocks aren't recommendations, but we still wanted Money Morning readers to know about them because of recent developments within the companies.

Editor's Note: If you're interested in learning more about penny stocks - and their risks - we've got you covered.

The announcements from the companies could increase revenue, attract more investors, and send the stock prices higher.

And the first pot stock to watch in March 2018 is utilizing blockchain technology to enhance its services, a technology that could be worth $2.3 billion by 2021...

Marijuana Penny Stocks to Watch, No. 2: Leafbuyer Technologies Inc.

Headquartered in Colorado, Leafbuyer Technologies Inc. (OTCMKTS: LBUY) offers discounts and deals for marijuana on its website.

It also provides information about marijuana laws and estimates on cannabis prices.

We're watching LBUY in March because the company is developing a "large-scale platform based on blockchain technology," according to MarijuanaStocks.com.

Collect a Colossal Payday Thanks to California's Legal Cannabis - Click Here Now to Learn How to Position Yourself for Windfall Profits

There were few details released by the company in its Feb. 14 announcement. But the company did say blockchain technology will allow users to register and participate in "special deals."

You see, the blockchain technology could streamline purchasing marijuana online.

Through a blockchain program, the technology could identify who is a medical marijuana patient, or an individual who lives in a state where recreational marijuana use is legal.

The cannabis user could then theoretically pay for marijuana using the blockchain. The dispensary would receive its part of the sale, and Leafbuyer could receive a commission for promoting the deal.

With a streamlined process, more dispensaries may want to pay Leafbuyer to promote deals.

To be clear, Leafbuyer did not say this is how its program will work, but it's just one way blockchain technology could be used to generate more income for LBUY.

Keep in mind that blockchain technology is in its infancy, and the global blockchain industry was worth just $339.5 million in 2017, according to Statista.com.

However, the research site expects that to skyrocket 577.46%, to $2.3 billion, by 2021.

The LBUY stock price climbed 147% over the past 12 months, from $0.76 per share to $1.88.

If it can net another 147% gain over the next year, LBUY would trade for roughly $4.70 per share.

And our next marijuana penny stock to watch could be one of the "safest" ways to play the $10 billion cannabis market...

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Marijuana Penny Stocks to Watch, No. 1: Blue Line Protection Group Inc.

Founded in 2006, Blue Line Protection Group Inc. (OTCMKTS: BLPG) provides protection, logistics, and compliance services to businesses in the legal U.S. cannabis industry.

One of its most important protection services is the transportation and storage of cash.

You see, marijuana businesses in the United States conduct all of their business in cash because cannabis is still illegal under federal law. Marijuana dispensaries can't open bank accounts and process credit card transactions since banks fear federal lawsuits or asset forfeiture.

Unfortunately, operating as cash-only increases the odds that marijuana dispensaries will be robbed.

According to business development firm SIVA Enterprises, the odds of a cannabis dispensary getting burglarized in 2015 were 50%. In comparison, banks only had a 34% chance of being burglarized in 2009, while convenience and liquor stores only had a 20% chance.

Securely transporting and storing cash is a service every cannabis dispensary needs.

And on Feb. 13, Blue Line announced plans to open a cash vaulting and processing facility with Hypur to serve marijuana-related businesses and cash-intensive businesses in Nevada.

Hypur is a financial tech company, and the collaboration will provide businesses with tools to schedule cash deposit pickups and withdrawals. It will also provide a real-time ledger to track account balances and delivery verification of funds when they reach their destination.

Blue Line will provide the muscle with armored transportation services.

This service is expected to launch in Q2 2018, according to MarijuanaStocks.com.

When I first published a report on Blue Line Protection Group Inc. on June 8, 2017, it traded for $0.02 per share.

It now trades for $0.03 per share, which is a 50% climb.

And as Blue Line expands its services, it's not hard to imagine more 50% price jumps.

But these aren't the only potential profit opportunities we see in the marijuana industry.

In a recent interview, Money Morning Director of Technology & Venture Capital Research - and marijuana stocks expert - Michael Robinson shared his insight on California's total cannabis legalization and delivered details on the huge gains you could enjoy... if you learn how to take advantage...

By getting in on the ground floor of these exceptional opportunities, you could have the chance to pocket life-changing windfalls thanks to this historic event.

Michael has his sights set on three stocks he expects to skyrocket thanks to this crucial announcement.

Get the details here...

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