Amid all the craziness of this year, it's easy to think your investing opportunities are limited. But the CBD industry is still projected to soar.
Our best CBD penny stock to buy now could gain 800% by the end of the year. And we're going to show it to you today.
The legal marijuana sector was predicted to grow from $10.8 billion in 2018 to $2.6 trillion in 2030, according to the National Institute for Cannabis Investors. And guess what? Nothing has changed.
The only thing that's changing is the value of the CBD industry. It's growing fast, and now is the time to start looking at CBD stocks if you want to partake in this growth.
Penny stocks are a great opportunity in this market too. Because they trade under $5 a share, the price can take big leaps in a short amount of time.
We saw this happen with Cinedigm Corp. (NASDAQ: CIDM) today. It popped 325% after the company announced a partnership with Viewd, a Smart TV software provider.
A bit of good news like this can lead to big upside in a penny stock. So penny stock investors are always watching the news closely.
But when you have an explosive industry like CBD, things are made easy. We're going to show you our best CBD stock to buy. But first, here's how you can know that CBD penny stocks are going to take off...
Why CBD Stocks Are Going to Soar
Analysts are saying the CBD industry is going to have a compound annual growth rate (CAGR) of 125% through 2026. The average CAGR on the S&P 500 on the S&P 500 is just 7%. And everything happening with CBD stocks seems to be proving that projection.
People are buying up CBD products in droves. Candles, oils, and infused beverages are just the beginning. Professional athletes have even endorsed the substance for its healing purposes. Former NFL stars Steve Smith and Rob Gronkowski have been among those.
CBD penny stocks are going to see a lot of catalysts this year. In fact, they already have.
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CBD was considered an essential item in the COVID-19 lockdown. You could even buy it at grocery stores like Kroeger Co. (NYSE: KR) and Harris Teeter.
But an even bigger impact on CBD will be the publicity that marijuana receives as the year goes on. Legal marijuana is becoming more of a central topic in presidential debates. It's going to take front-and-center this November.
In fact, it was announced yesterday that the White House is reviewing a federal plan for CBD research by the FDA.
And that's a catalyst for our top CBD stock to buy now. Here's a whopping 800% potential growth penny stock...
The Best CBD Penny Stock to Buy Now
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There are all kinds of CBD products out there. The one we're talking about today is hand sanitizer.
You're probably aware of the rush to buy sanitizer during the pandemic. That's likely not to slow down if we get a second wave... maybe even if we don't.
Grand View Research has said the global hand sanitizer industry expects a compound annual growth rate of 22.6% from 2020 to 2027. Again, that's more than three times the S&P 500.
And there's a CBD company that benefits from this: Findit Inc. (OTCMKTS: FDIT). This little-known penny stock based in Nevada just announced that it offers hand sanitizer through UrbanCBDCollective.com. The company also purchased the domain KillerHandSanitizer.com.
Yes, believe it or not, CBD can kill bacteria.
This is kind of a backdoor play. Findit is primarily a social networking content management platform. It serves industries of all kinds. But now that it has a direct stake in the CBD hand sanitizer business, the company could see significant upside later in the year.
Today, the stock goes for a mere $0.20. But analysts predict the price could hit $1.85 as the CBD industry continues to expand. That's 800% growth.
Action to Take: The CBD industry has received multiple catalysts throughout the last year. With hand sanitizer becoming ever-popular, CBD-infused sanitizer has as well. Look at shares of Findit Inc. (OTCMKTS: FDIT) for $0.20 while you wait for the CBD industry to explode. Analysts say it could reach $1.85, an 800% projection.
The 3 Things You Need to Consider Before You Invest a Single Penny in Cannabis
The cannabis industry is on track to become a $1 trillion industry as it goes global. With that kind of capital on the line, the profit potential here is absolutely stunning.
But you don't want to get into this blindly.
That's why the National Institute for Cannabis Investors teamed up with a very special guest to deliver you three need-to-know considerations before you touch a single cannabis stock.
You can learn all about them right here.
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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.