The best marijuana penny stocks give you the opportunity to bank huge profits from a new, $10 billion-dollar industry with a small initial investment. Today, we're bringing you one of the best pot penny stocks you can buy right now...
Take Canopy Growth Corp. (OTCMKTS: TWMJF) for example. This Canadian pot stock soared 140.09% in just one year.
But finding stocks like these isn't easy.
Penny stocks are notoriously volatile, and often trade on over-the-counter markets, which are less regulated than the major exchanges. That makes it even more difficult to research the companies.
The good news is that we've done the heavy lifting for you by digging into the universe of marijuana stocks and finding companies with serious profit potential.
Collect a Colossal Payday Thanks to California's Legal Cannabis - Click Here Now to Learn How to Position Yourself for Windfall Profits
While marijuana penny stocks are still risky - Money Morning recommends that you limit your penny stock investments to 2% of your total portfolio - the one we've uncovered could soar.
In fact, this marijuana penny stock to watch is already operating in one of the next states that could legalize marijuana, which will be a major catalyst for the company...
Arizona Is on the Verge of Fully Legalizing Marijuana
Arizona already allows the sale of medical marijuana, but it could be opening up its laws to all forms of marijuana soon. And the company we're about to show you is well positioned to profit.
The company we're watching already has four operating medical marijuana dispensaries in Arizona. Plus, it plans to add four production facilities and 10 more dispensaries in four other U.S. states.
Thanks to sales of its cannabis concentrates and cannabis in March, this company's revenue reached $4 million for the first time.
But there are much greater things in store thanks to favorable legislation on the horizon...
You see, there is currently a drive to open up Arizona to fully legalized cannabis. The state has proposed the Arizona Medical Marijuana Expansion Initiative, which could reach the ballot as soon as this coming November. This law would expand medical marijuana in The Grand Canyon State.
That would be great for this company, but it gets even better...
There is also the Arizona Marijuana Legalization Initiative, which proposes full legalization of cannabis use in the state for anyone age 21 or older. This could add another potential law that could end up on the ballot in November 2018.
And while full legalization in Arizona will be a boon to the company we're following, it's also not sitting around waiting for the laws to change.
This company has a 72,342-square-foot facility under production in Ontario, Canada, where marijuana will be fully legalized later this summer.
That ensures this company will benefit from the coming legalization boom whether Arizona votes for it or not.
According to one analyst, this stock could grow as much as 33% over the next year.
But that's way too conservative, especially if Arizona votes to fully legalize marijuana in November.
Full legalization could cause one of the best pot penny stocks to soar even more...
Legalization Makes This One of the Best Marijuana Penny Stocks to Buy
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The marijuana penny stock to watch that could climb 52% in the next 12 months is MPX Bioceutical Corp. (OTCMKTS: MPXEF).
As we mentioned earlier, it operates four dispensaries in Arizona, and MPX just relocated the processing and production of its MPX concentrates to a new location, according to an April 9 GlobeNewswire report.
This new facility will double the current production capacity of MPX-branded products in Arizona, to approximately 150,000 grams.
The final phase of the build-out at the facility, scheduled for the fourth quarter, will increase its annual capacity to 800,000 grams.
At current prices, that would be worth $18 million, according to GlobeNewswire.
But it gets even better in Canada...
The MPX Bioceutical facility we mentioned earlier could produce approximately 17,700 pounds per year of dried marijuana.
The price of one pound of marijuana from a Canadian dispensary is $1,850, according to cannabis information site Budzu.
That means 17,700 pounds of marijuana would be worth $32.7 million.
The cultivation at this facility should start in the second half of Q2 2018, according to the company's website.
Just in time for full legalization in Canada.
MPXEF trades at $0.64 per share and could jump to $0.85, according to Wall Street analysts. That's a 33% gain, and that could just be the beginning for this stock's potential.
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.