These cannabis penny stocks can fit in any investment portfolio

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Affordable cannabis stocks are great options for those who want to dive into cannabis investing

Perhaps one of the most important factors when it comes to investing is budget, especially in volatile markets such as marijuana. However, today, with this roller coaster ride in the industry, there are still penny stocks in cannabis that are the perfect excuse to get involved in a market with incredible potential.

Penny stocks are generally those that trade below $5. Specifically, these stocks are known to have significant market volatility and are considered a higher risk-reward trade. This being the case, many experts categorize them as a short-term trading strategy.

One of the best penny stocks you can add to your list of cannabis investments is Ascend Wellness Holdings (AWH). This is a company whose operations have expanded into Illinois, Michigan, Ohio, Massachusetts and New Jersey.

This company’s business model is based on owning and managing cultivation facilities that produce award-winning strains and a carefully selected product line. AWH currently sells to licensed cannabis retailers and has over 15 retail locations.

Harborside is another firm that may also be a smart choice at this time. As one of the first six companies to obtain a license in the US, the experience can play an important role. A week ago, Harborside announced that it was able to open two new retail stores, bringing the number in California and Oregon to 13. Its expansion across the Golden State began last year and there is a strong belief that this will continue at a steady pace.

Remaining in the quintessential state for marijuana businesses, Lowell Farms continues to rapidly increase its market share. The California-based company aims to develop an award-winning portfolio of licensed cannabis brands for cannabis consumers. As a stock that trades lower than usual, it appears to be quite an eye-catching option now that the second half of May has begun.