Today we’re looking at some super cheap cannabis penny stocks that you can get for under $1. We’ve picked two companies that offer a cheap entry point for anyone who might like to make a start investing in this sector. At any time, cannabis stocks can explode, as this is a very active industry, but remember cheap stocks also carry risk! Keep that in mind.
Cannabis Penny Stocks Under $1: Sugarmade (OTCQB:SGMD)
It was an inevitable move for Sugarmade to head towards the cannabis sector. The US hydroponics supply company announced in October that it had issued formal proposals to acquire two hydroponic cultivation supply companies that are active in the cannabis sector.
According to the Sugarmade press release, “should these acquisition efforts be successful, the Company would immediately boost its revenue guidance to $75 million for next year, representing one of the fastest revenue growth rates in the cannabis industry.”
At the current price of $0.10 USD, this cannabis penny stock could offer investors a good return over time. Ancillary cannabis companies are currently hot property. The hype over the cultivation and producing sectors is dying down now that Canada’s recreational market is in full swing.
All eyes are on cannabis ancillaries now for that diamond in the rough stock.
Cannabis Penny Stocks Under $1: Crop Infrastructure (CSE:CROP)
Vancouver’s Crop Infrastructure is primarily engaged in investing, constructing, owning, and leasing greenhouse projects for cannabis producers. The company currently has cultivation properties in seven jurisdictions in America, Italy, and Jamaica.
However, CROP is an interesting potential for investors because of the diversity of its business. Included in CROP’s portfolio is a cannabis-infused beverage called Canna Drink, US and Italian distribution rights to over 55 cannabis topical products, along with a portfolio of 16 cannabis brands.
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Because this industry in new enough, you never know where the next major revenue stream may come from. Crop Infrastructure is well-positioned to take advantage of many avenues of this sector. Currently selling for $0.29 CAD per share, the penny stock could be a good all-rounder for the portfolio—but make sure you do your own research to decide for yourself.
Cannabis penny stocks in the ancillary sectors offer investors a range of factors to get their teeth into. Often these companies go under the radar and yet can offer the most potential! Always do the research first, of course, before investing.
Featured Image: Depositphotos/© ligora
