Marijuana Penny Stocks on Robinhood | Weed Stock News & Updates

Marijuana Penny Stocks on Robinhood | Weed Stock News & Updates

What is up YouTube, my name is Adam, and this is Broke Man Finance. A channel where we try to bring a commonsense approach to finances and stocks.

► Subscribe to my Patreon account for all my latest stock and option moves. https://www.patreon.com/adambrokemanfinance?fan_landing=true

► 1 FREE Stock with Robinhood: https://join.robinhood.com/adamw2316

► Get $10 Free Bitcoin: https://www.coinbase.com/join/wilson_45f

► 100 Free Tickets with a Yotta Savings Account! Use code Adam94

Recently, the U.S. House of Representatives took up the Marijuana Opportunity Reinvestment and Expungement Act or the MORE Act.

The MORE Act would decriminalize cannabis on a federal level in the U.S. and would clear the way for nonviolent federal marijuana convictions to be erased. We’re talking about federally not state level yet. That’s still a big deal when it comes to banking.

Even though dispensaries supplying recreational or medical marijuana may be perfectly licensed and legal under state law, federal law still classifies marijuana as a Schedule 1 drug and considers marijuana businesses illegal.

The banking system is regulated by federal law, so banks risk charges of aiding and abetting a federal crime or money laundering if they choose to do business with marijuana-related business. Thus, causing marijuana businesses to deal in massive sums of cash.

The More act would also allow physicians at the Department of Veterans Affairs to prescribe medical cannabis products, and would help build out the bustling cannabis industry in the U.S.

The marijuana industry is expected to triple in the next five years, personally, I think it will be much larger than that, depending on the decriminalization of it, not only on a USA scale but globally.

As states and entire countries decriminalize or legalize cannabis and/or its components, that creates a lot of opportunity not only for the business side, but for us retail investors as well.

On to the list.
Number 1 in this penny stock list is Sundial growers, ticker symbol SNDL. They are currently trading for .49 cents per share at the time of this filming.

I honestly didn’t want to include this one on the list but because so many people are talking about it online, I feel like I needed to address Sundial.

This is a watch, but watch from afar so that it misses your portfolio. Some people I was reading was going all in on this one…..(breathe)

Sundial Growers produces, distributes and sells cannabis products in Canada. This is a stock that has dropped considerably. People still have faith in Sundial, but……

Earlier this year Sundial had a market cap of 1 billion and now are just half of that. Revenue is down, cash on hand is down, some analysts are even saying that Sundial is on a death spiral.

It is a penny stock, and like most penny stocks you could see a lot of reward, but you have to make that determination. I’m no financial advisor.

Next on the list is HEXO, Ticker symbol: HEXO. Should be easy to remember. Hexo is currently trading for .95.

Hexo is a consumer packaged goods cannabis company, which creates and distributes products to serve the global cannabis market.

It serves the Canadian adult-use markets under its HEXO Cannabis, Up Cannabis and Original Stash brands, and the medical market under HEXO medical cannabis.
Hexo is showing signs of improvements which should turn some investors heads.

Net revenues of 27.1 million in CAD, representing a 23% improvement over the previous quarter and a 76% increase over the comparable prior-year quarter

Cash and cash equivalents increased by 95% over the previous quarter

The New York Stock Exchange won’t list shares that trade below an average of $1 for a 30-day period. So, Hexo has announced an eight-for-one reverse share split.
Meaning, you will see that share price go up a lot, but it’s artificially inflated.

If Hexo keeps trending in this direction, they could be a very good buy for future growth.

Next on the list is Organigram, ticker symbol OGI. Organigram is currently trading for $1.33 per share.

OrganiGram Holdings, Inc. engages in the production and sale of medical marijuana. It focuses on producing cannabis for patients and adult recreational consumers. The firm’s brands include Adult Recreational and Medical.

Q4 2020 gross revenue increased 32% to $25.4 million from $19.2 million in Q4 2019
Q4 2020 net revenue increased 25% to $20.4 million from $16.3 million in Q4 2019

But they did lose more money this year than last.

They have vapes, chocolates, and they continue to innovate with the latest and greatest weed ideas. They even have drink mixes coming out next year. Why just drink alcohol, when you can pour some marijuana in their too. Eww wee. I’d just go straight to sleep. I’m too old for this.

Their finances are better than Sundial but not as good as Hexo’s

#marijuanastocks #weedstocks #pennystocks