The Dow Jones has lost more than 1,000 points since this time last month, and the S&P 500 is down 2.4% for the same time period.
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With legalization gaining steam, marijuana penny stocks have the chance to skyrocket.
However, not every marijuana penny stock is worth owning.
Today, we're looking at three marijuana penny stocks that are on the verge of soaring as legalization laws take full effect in 2019.
On Oct. 17, Canada legalized recreational marijuana on the national level, becoming just the second country in the world to allow recreational cannabis use.
The policy has widely been viewed as a success, with both state and private institutions generating billions in profits from the nation’s new marijuana industry in the just the first month. In fact, it’s prompted renewed campaigns for legalization across the globe, including in Canada’s commonwealth cousin, Australia.
Over the last month, governments across North America have enacted sweeping legislation to legalize marijuana.
Both Missouri and Utah voted to allow medical marijuana use, while Michigan voted for full recreational legalization.
In order to prepare our readers for the potential profits from legalization, the Money Morning team has reached out to its contacts in the cannabis industry in order to identify the next states to legalize marijuana.
The news for marijuana penny stocks can't get much better.
Over the last two weeks, national and state governments in North America have dealt a wave of final blows to marijuana prohibition, paving the way for full legalization - and tremendous profits.
On Oct. 31, Mexico's Supreme Court struck down the nation's marijuana prohibition law, deeming it incompatible with Mexican law. Shortly afterwards, Mexico's incoming government announced plans to pursue full legalization.
Less than a week later, three American states took huge leaps toward full legalization during the midterm elections. Both Missouri and Utah voted to allow medical marijuana use while Michigan voted for full recreational legalization.
Outperforming cryptocurrencies, gold, and the market as a whole, 2018 has been a banner year for marijuana investment.
But for investors who want real profits, marijuana penny stocks are an even better way to take advantage of the booming marijuana industry.
You see, marijuana penny stocks have the kind of growth potential that larger marijuana companies with higher evaluations often struggle to maintain.
Today (Oct. 17), Canada fully legalized recreational marijuana, creating a tremendous opportunity in marijuana penny stocks.
You see, marijuana stocks are one of the most popular assets on the market this year.
In a recent report, Bloomberg established marijuana stocks have beat gold, Bitcoin, and the market as a whole in performance this year.
According to Bloomberg, marijuana stocks have outperformed gold, Bitcoin, and the broader market as a whole during 2018.
As marijuana stock evaluations continue to soar, we're using marijuana penny stocks to get you on the ground floor of the cannabis revolution.
GrowLife stock is a perfect case study in the perilous world of pot penny stock investing.
Riding the sudden wave of excitement surrounding marijuana legalization in Washington and Colorado, investors began piling into pot stocks with reckless abandon, hoping they could get in on the ground floor of a soon-to-be burgeoning marijuana industry.
Money Morning Chief Investment Strategist Keith Fitz-Gerald appeared on FOX Business' "Cavuto" on Friday evening to discuss the top stocks to watch in the weeks ahead.
Our stocks to watch list for Jan. 2014 focuses on Apple (AAPL), Blackberry (BBRY), Sears (SHLD) – and marijuana.
The world has turned for marijuana, and the genie is out of the bottle, or should we say the smoke is out of the bong. May 2013 was a big month for those who actually inhale.
Colorado Governor John Hickenlooper signed two crucial bills, House Bills 1317 and 1318, stemming from the recent ballot initiative, Amendment 64, legalizing the recreational use of pot in Colorado, which lay out regulations for the sale and taxation of marijuana.
In Seattle, Reuters reports that ex-Microsoft strategist Jamen Shively announced plans to establish the first American pot brand, importing the weed legally from Mexico and retailing it in a chain of medical dispensaries and, where legal, retail outlets.
Shively's plans have the moral support of former Mexican President Vicente Fox, a conservative. Right now Shively is undertaking a press blitz in Mexico, where he plans to source his marijuana.
So much for the war on drugs. For the first time ever, a majority of Americans now support legalizing marijuana.
According a new report from the Cato Institute, pot legalization could inject $20 billion a year into the U.S. economy due to the tax revenue generated and savings in law enforcement costs.