It’s not too early to think about stuffing Christmas stockings with penny stocks
The marijuana industry may have seen a slide in its stock prices as a whole this year, but everyone knows that this is just temporary and that virtually all the major companies are going to experience huge growth. The fact that these brands have dropped only means that investors have the opportunity to receive an early Christmas present, as they are now able to invest more than before and see better returns. Among these are two penny stocks that are almost certainly going to experience tremendous growth, and neither name will come as a surprise.
Hexo, despite the overall market drops, has maintained strength, relatively speaking. It acquired Newstrike Brands this past March and was able to see a huge boost in its production capacity as a result. It is currently trading at under 3.4 times its 2020 projected sales, and that projection is conservative. Tack on a credit facility worth around $52 million that it picked up earlier this year, and Hexo is looking at being able to support its growth with no problem.
Hexo is also connected to Molson Coors Brewing, with the two launching a cannabis beverage company, Truss. The cannabis beverage market is set to explode over the next two to three years, and this partnership will allow Hexo to see consistent, profitable sales for years to come.
OrganiGram is always an inexpensive option and is always an underdog. This won’t change before the end of the year, but investors should expect to see big growth over 2020 and 2021. It has entered into a partnership to create cannabis-infused chocolates and has a new nano-emulsification product that helps ease the cannabis beverage manufacturing process. Both are coming early next year, and both are going to be long-term winners.
Don’t let the current state of the cannabis market be a deterrent. Great things are coming and this is supported by every analyst around. The only question is how soon things are going to pick up, and getting in now will ensure that investors are at the head of the line.