Goodness Growth and StateHouse are uncommon names with great potential
For many investors new to the world of marijuana, the logical first stop is penny stocks. As the name implies, penny stocks are those companies that trade with a low share price, often less than $1. Very low prices allow an investor to own thousands of shares for a relatively small amount of invested capital. With that scale, a gain of a few cents per share can translate into a large percentage return. This is something that has great potential to happen within such a fast-growing industry as marijuana.
If penny stocks are a priority in the portfolio, Goodness Growth Holdings can certainly be a viable option at this time. This is an intellectual property and cannabis company committed to advancing technology, science, and engineering. This firm’s subsidiary Resurgent Biosciences ambitiously aims to expand into the field of clinical psychedelic research.
Goodness Growth has a total of 18 retail dispensaries across the country, with plans to further expand its footprint. The company holds four cannabis licenses in Nevada, which it can use to grow and manufacture cannabis for Silver State’s medical and recreational markets.
On the other side is State House Holdings, known for being one of the first companies in the US to receive a cannabis license. Formerly known as Harborside, the company opened the doors of two more stores, now having a presence of 13 dispensaries in both California and Oregon.
Since last year, StateHouse has been focused on developing growth in the Golden State and says it won’t stop until it does. StateHouse’s Salinas cultivation facility has grown successfully, opening the way for it to develop year-round production and more than double its cultivation capacity.