The National Institute of Cannabis Investors expects legal marijuana sales to reach $2.6 trillion by 2030. That's 23,974% growth from just $10.8 billion in 2018.
But you don't have to wait that long to profit from cannabis industry excitement.
Today, we're going to talk about a smaller, equally potent sector fueled by this trend: cannabidiol, or CBD. And we'll even show you our top CBD penny stock to buy for 475% profit over the next few months.
CBD is the non-psychoactive cousin of THC (psychoactive), also produced from hemp. Before 2018, hemp could not legally cross state lines.
But after evaluating the effects of CBD, Congress passed the Farm Bill in 2018. This made it legal to transport hemp plants state-to-state.
Since then, the CBD market has been building steam while we wait for more states to legalize marijuana.
Here's why CBD stocks should be on your radar as cannabis grows in popularity. And why you should look at CBD penny stocks in particular...
Why CBD Penny Stocks Are a Great Buy
CBD has become its own high-growth industry. This market expects a 125% compound annual growth rate (CAGR) by 2026. Compare that to the average S&P 500 CAGR: just 7%.
That's reflected in the droves of people buying up candies, oils, soaps, and beverages infused with CBD. Several professional athletes have even come out in support of CBD for its medical and pain-relief benefits - former NFL Pro Bowler Rob Gronkowski and golfer Bubba Watson, to name a couple.
Because penny stocks trade under $5, their prices are more sensitive to change - like, say 125% annual growth - than a CBD stock such as GW Pharmaceuticals Plc. (NASDAQ: GWPH) trading at $104.
For that reason, the best penny stocks are more likely to double your money over a short period of time.
Over the course of the next few months, CBD stocks are going to get a boost from an unfolding cannabis dialogue in American politics and media.
For the first time ever, marijuana is a central topic in presidential debates. It's receiving endorsements from celebrities across the country as well. Snoop Dogg and Martha Stewart are just two names behind the Canopy Growth Corp. (NYSE: CGC) brand.
But while all of this happens, actual CBD products will be infiltrating stores around the country.
Our best CBD stock today hit thousands of stores at the start of 2019, and it added thousands more later in the year.
And it's still planning to hit thousands more, as you'll see, with the deal it just made.
Here's our top CBD penny stock to buy for 475% profit over the next few months.
The Top CBD Penny Stock to Buy Right Now
About the Author
Mike Stenger, Associate Editor for Money Morning at Money Map Press, graduated from the Perdue School of Business at Salisbury University. He has combined his degree in Economics with an interest in emerging technologies by finding where tech and finance overlap. Today, he studies the cybersecurity sector, AI, streaming, and the Cloud.