Start the conversation
Comment on This Story
Or to contact Money Morning Customer Service, click here.
By 2025, the cannabis market is expected to soar by 380% to $66.3 billion, according to Grandview Research.
Beyond that, Money Morning Director of Cannabis Investing Research Greg Miller says full-on cannabis legalization is the closest it has ever been. Thanks to the Marijuana Opportunity Reinvestment and Expungement Act's (MORE) approval by the U.S. House Committee on the Judiciary in Nov. 2019, cannabis could be removed as a Schedule I drug from the Controlled Substances Act.
It's really no surprise we're seeing this unfold, either. There are THC and CBD oils, lotions, edibles, medicines, and more skyrocketing in popularity across North America. And if the U.S. House of Representatives pass the bill, marijuana stocks will explode in 2020.
So, right now is the perfect time to start buying cannabis stocks.
But not every marijuana stock will benefit from the booming cannabis sector. And finding cannabis stocks worth your investment can be challenging. This is especially true once you realize there are hundreds of publicly traded marijuana firms around the globe.
Fortunately, investing in cannabis stocks doesn't need to be a headache. In fact, some of the best cannabis stocks are trading at value prices and have incredible upside potential.
We're talking below $10 per share. And with prices this low, it doesn't take much good news to send these stocks to money-doubling heights.
Let's say a stock is trading for $2 and grew by $1 in a week. That would be a 50% gain in just a few days.
And investing in a few stocks like this could help you see great returns. That's why Money Morning is here to help you find some of the best marijuana stocks.
We've uncovered two cannabis stocks poised to profit from the next wave of North America's green gold rush.
One could even skyrocket as much as 178%…
Best Cannabis Stocks to Buy, No. 2: Medicine Man Technologies
One top cannabis stock to buy is the Denver-based marijuana firm, Medicine Man Technologies Inc. (OTCMKTS: MDCL). MDCL is a full-service consulting and business planning firm that offers a variety of cannabis cultivation solutions to up-and-coming marijuana businesses.
It essentially provides the knowledge, tools, and solutions to help those with the capital to start their own marijuana companies get off the ground. And because of how competitive recreational and medical marijuana markets have become, it helps firms get a leg up on the competition.
Plus, MDCL is making moves to secure its foothold in the marijuana market. Back in September 2019, it announced its acquisition of Colorado dispensary Roots RX. This benefits MDCL by providing it with top-tier cannabis to provide to its clients.
In the same period, MDCL also bought cannabis edibles producer Canyon LLC and Colorado-based cannabis operator Strawberry Fields.
Now, the company has operations in 20 states across the U.S. and in seven countries, total. Because of this, it's on its way to becoming one of the biggest seed-to-sale operators in the world.
In fact, it has a market cap of $117 million. And MDCL stock currently trades at $2.94 per share.
But our top cannabis stock to invest in could soar as much as 178% over the next year…
Best Cannabis Stocks to Buy, No. 1
About the Author
Daniel Smoot is a Baltimore-based editor who helps everyday investors with stock recommendations and analysis. He regularly writes about initial public offerings, technology, and more. He earned a Bachelor's degree from Towson University.