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The legal marijuana industry could grow 513% by 2025. Grand View Research says it could hit $66.3 billion by that time.
But the National Institute of Cannabis Investors predicts $300 billion "practically overnight."
Make no mistake, this is an opportunity to turn pennies into millions. And our best penny stock today could pop long before industry reaches its peak.
We're talking 427% profit potential.
You see, penny stocks trade for under $5 a share. That means they can make dramatic shifts on even a little bit of good news. Last October, BioNanao Genomics Inc. (NASDAQ: BNGO) gained 107% on news that Indiana University had bought its technology.
Of course, that's only a fraction of what today's penny stock could deliver. The marijuana industry is staged for a year of breakout news.
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As many as nine states could vote to legalize cannabis in 2020, either medically or recreationally. It will depend on whether they can have enough signatures for citizens to vote on ballot measures.
Arizona, Arkansas, Idaho, Mississippi, Missouri, New Jersey, Nebraska, North Dakota, and South Dakota all have ballot measures in play.
But the great thing is that this stock doesn't have to wait for these states to legalize cannabis to pop.
It's already ready to soar on a legal cannabis trend called "CBD."
Why the Best Penny Stock Is a CBD Stock
CBD, or cannabidiol, is a federally legal substance used to treat pain relief and depression.
So far, they're putting it in foods, soaps, and candles. But this industry is still awaiting its greatest surge yet. The CBD market alone could be worth $20 billion by 2024.
As we approach election season in 2020, with more states poised to legalize marijuana in some form or other, cannabis will enter the spotlight. Marijuana, especially from a medicinal standpoint, will come up in discussion more than it has in any election prior.
As we mentioned, the price of penny stocks is extremely sensitive. Even if just one state legalized marijuana this year, it would be a catalyst for our top penny stock today.
That said, here's the 437% profit potential we've been talking about. Our top CBD penny stock to buy right now…