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Our pick for the best penny stock to buy this week could rocket by as much as 161.3% over the next 12 months.
This is thanks the marijuana market. Right now, the cannabis industry is growing quickly. In 2018, Grandview Research reported that the global legal marijuana market was worth $13.8 billion. By 2025, the same source expects the legal cannabis market to soar to $66.3 billion.
We think it has the potential to climb higher.
Money Morning Director of Cannabis Investing Research Greg Miller says the marijuana market could grow to as much as "$300 billion practically overnight."
That's because the United States will eventually fully legalize marijuana. In fact, 10 states are poised to legalize marijuana in one way or another in 2020.
These states include: Arizona, Arkansas, Florida, Idaho, Mississippi, Missouri, Nebraska, New Jersey, North Dakota, and South Dakota.
Even if just a few of these states legalize marijuana, it could create a massive catalyst for the best penny stock to buy right now. The more states that legalize marijuana, the faster the industry grows, the more opportunities there will be for savvy investors who pounce on the right penny stocks now.
And we've got one for you today.
Our top penny stock right now is poised to help you take advantage of the growth sector and seize the kind of returns we're talking about.
This company's goal is to become the biggest marijuana company in the United States. In fact, this top penny stock could soar as much as 161.3% as a result…