Markets have been mixed over the last month.
However, that didn't stop one marijuana penny stock from soaring 126% in just two days.
And with all the acquisitions this company is pursuing, these gains are just the beginning...
You see, this marijuana investment company is on a shopping spree because of the enormous profit potential in the legal cannabis market.
In fact, legal marijuana sales are expected to skyrocket from $10 billion last year to $24.5 billion by 2021. That's an increase of 145% in only four years.
By making investments in the most up-and-coming and profitable segments of the legal cannabis market, this company will be able to capitalize on what promises to be the new cannabis "gold rush."
If you are looking for marijuana penny stocks to watch, this is one that should be at the top of your list...
Why This Obscure Marijuana Penny Stock Is Going to Soar
On Aug. 15, this company announced it was acquiring Fitamins, a major distributor of vitamins and hemp-derived CBD that focuses on the Asian-American market.
CBD stands for cannabidiol, which a compound found in cannabis plants. Its popularity has soared in the past several years due to its medicinal use.
The 4 Cannabis Stocks to Buy Now - Profits of up to 1,000% Could Be Likely This Election Year!
Specifically, products made from CBD, such as oils and topical locations, are used for the relief of pain, anxiety, seizures, and depression, and even on certain types of cancer.
And it's likely to generate even stronger returns down the line. Hemp Business Journal says that the CBD market alone could be worth $2.1 billion by 2020. And that's likely a conservative estimate.
And that's not all.
On Aug. 22, this cannabis company announced that it was also acquiring The Asher House CBD brand.
This company will now have full control of the Asher House Pet CBD line, which consists of U.S.-based hemp-derived CBD supplement products produced for pets.
This cannabis investment company recognizes the value in CBD - and also that there is a tremendous market in therapeutic solutions for pets. In fact, the pet industry alone is worth $67 billion.
In addition, August's top-performing pot stock has another noteworthy subsidiary called BudHire.
Since the marijuana industry is so regulated, companies are forbidden from advertising on regular channels such as social media, major search engines, and some job boards. That's added a hurdle for finding the most qualified employees.
BudHire has developed a formula that matches the most qualified candidates to a broad list of marijuana-related jobs.
Whether it is through helping cannabis companies find qualified staff or making CBD products more available to consumers, this marijuana investment firm has amassed a diversified portfolio of legal cannabis companies that is going to help it capture a piece of the $10 billion marijuana market.
Before there are even more gains in this marijuana stock, we have to make sure Money Morning readers got in on the bottom floor of this staggering profit opportunity in the cannabis industry...
The Top Pot Penny Stock to Buy Today
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Cannabis Strategic Ventures (OTCMKTS: NUGS) is a Las Vegas--based marijuana investment company that believes in investing in both legal cannabis and its support services.
According to the company, revenue in this massive industry won't just come from the sale of cannabis-based products, but also from the variety of services that support this industry.
Because of this, NUGS is likely to continue pursuing acquisitions of other cannabis companies, which is going to keep pushing its share price up.
And that's great for an industry ripe for joint-venture opportunities and takeover targets.
Take Constellation Brands Inc. (NYSE: STZ), for example. The Corona beer maker and international liquor distributor has just increased its stake in Canadian marijuana giant Canopy Growth Corp. (NYSE: CGC).
STZ made its first investment in CGC last year but increased its stake in August with an additional $4 billion investment. That drove the share price of CGC up over 30% in just a week.
STZ has warrants that could give it a controlling interest in the marijuana company. It appears that there may be plans for a cannabis-infused beverage on the horizon.
This isn't the first deal of its kind. On Aug. 1, Molson Coors Brewing Co. (NYSE: TAP) announced a partnership with Hydropothecary Corp. for the creation of a marijuana-infused drink.
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With profits of up to 1,000% - similar stocks in previous elections years soared to rare gains high enough to turn every $5,000 you invested into $303,700.