The cannabis industry is producing some exciting new penny stocks to keep an eye on.
As legislation allows for a broader adoption of cannabis across the globe, more and more cannabis penny stocks businesses are creating innovative business models and/or tools in this sector.
Today we are looking at two somewhat alternative cannabis company’s who aren’t your typical cultivator or dispensary.
Two Cannabis Penny Stocks
Cannabis Wheaton Income Corp. (OTCMKTS:CBWTF) Cannabis Wheaton is the first ‘streaming cannabis’ company of its kind. ‘Streaming’ usually refers to mining metals and is an agreement whereby a miner purchases metals production at a fixed price. Assumedly the process will be the same for Cannabis Wheaton, except the product will be marijuana and not metals.
As the company is the first to do business using this model, there is enormous potential for CBWTF stock. The company is also Canada-based which helps its potential, as Canada is on the brink of adult-use legalization after having had medical cannabis legal for years already.
Global Cannabis Application Corp. (OTCMKTS:FUAPF)
Global Cannabis Application Corp is cleverly using the groundbreaking blockchain technology in its business model.
Favorable legislation has, for the most part, created a boom for marijuana stocks. However, the short-lived nature of some of these gains can be attributed to government bodies and cannabis-related businesses entering new uncharted territory when it comes to regulation.
In particular, Regulatory agencies are highly aware of the cannabis supply chain; they need to ensure that the product is coming from legal and proven high-quality growers and dispensers.
This is where GCAC steps-in. Its unique blockchain applications provide a solution to the arduous task of vetting the cannabis supply chain. As a potential favored tool for Government agencies, the potential for FUAPF stock is huge.
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Additionally, Global Cannabis has more ambitious goals with its blockchain technology as it can also be used to gather and analyze medical marijuana data.
Conclusion
So, there are two cannabis penny stocks which are doing something different in the cannabis realm. As always if investing do so after extensive research and with caution — the penny stocks market can shift at any time and nothing is ever a guarantee!
Featured Image: Deposit Photos/miflippo
