Buzzworthy Cannabis Stocks: A couple of years ago, I believed that cannabis could pose a considerable threat to pharmaceutical companies, and really harm their profits. This was based on marijuana’s growing popularity, increased social acceptance (check out our 5 Biggest Celebrity Stoners Who Love Their Reefer to see how far that social acceptance has come) and enhanced medicinal use.
This has proved not to be the case for now. Even the largest companies have not yet managed to turn profits. However, investors can still benefit from legal marijuana; it’s just a matter of picking the right stocks, and of course, leaving prejudice and moral questions aside.
As of now, 23 U.S. States as well as D.C. have decriminalized the use of medical marijuana, while Washington and Colorado have gone one step further by legalizing the drug for sale for recreational purposes, to adults only naturally. However, the substance remains illegal under federal law, and is considered as one of the “most dangerous” drugs by the U.S. Drug Enforcement Administration (DEA), so any investor should be aware of the risks inherent in the companies.
Most of the pot penny stocks like Medical Marijuana Inc (OTCMKTS:MJNA), have been down this year, and some companies even changed their names and ticker symbols to get a boost out of the hype of a “new” stock in a last ditch effort. Others, like American Green Inc (OTCMKTS:ERBB), and Hemp Inc (OTCMKTS:HEMP) have performed much better but are still not recommendable, in my view. As “The Wolf of Wall Street” has taught us, a general rule of thumb for investing is “keep away from penny stocks,” unless you’re an investment wizard, like Timothy Sykes.
The cannabis industry is one with a long growth path ahead, so while profits are yet to be reaped, some relatively big companies in the industry could prove to stand as attractive long-term investment options. So, without further ado, let’s take a look at the top buzzworthy cannabis stocks (and some other related ones) in the market.
I should highlight, these are not actual recommendations to either buy or sell these stocks, but a brief overview of some interesting companies that certainly deserve further research and could be considered as attractive investment options.
On the next page, my buzzworthy cannabis stocks: