![]() ![]() This was a 103.35% increase over sales of $14.50 million in the same period last year. Q1 sales came in at nearly $29.5 million, which was up considerably, year-over-year. This wasn’t only because of what it might mean for cannabis stocks in general but also due to the stronger financial results that were actually reported. Following the reverse and fiscal Q1 2021 results mid-month, shares of HEXO stock popped then dropped during the last few weeks leading up to 2021.ĭespite this having been the case, Hexo remained a focus for traders ahead of the Senate runoff vote. As many of our readers know, HEXO stock was one of the last-remaining marijuana stocks under $1 for months. recently effected a reverse stock split prior to the end of the year. Robinhood Marijuana Stocks To Watch #1: Hexo Corp. Organigram Holdings ( OGI Stock Report).Here are some on the watch list of Robinhood traders right now. So it’s up to you to decide if these are the best penny stocks to buy right now or not. ![]() ![]() However, it may also entail focusing on companies with exposure to cannabis no matter which country that may include. This might entail focusing on ETFs like the AdvisorShares Pure US Cannabis ETF ( MSOS ETF), which does have positions in many OTC marijuana stocks. So what happens next? Robinhooders and Webullers will do what they typically do, which is to find ways of gaining exposure to the industry as a whole. Penny stocks are not only limited to these listed names, since the vast majority of US MSOs are dually listed with the US listing being on the OTC, traders using these apps cannot access many of the companies that would likely benefit from such an initiate as the MORE Act. That poses a problem for users of apps like Webull and Robinhood. This is a US-focused event however, most listed stocks (NYSE/NASDAQ) are Canadian-based companies. Regardless of how you feel about pot penny stocks, the market has spoken and traders are looking for marijuana stocks to buy. While there’s still plenty of unknowns to this right now, the market has digested the info and placed stronger weight on a favorable outcome in light of these runoff results. However, in light of the recent runoff results, that may not be the case. The MORE Act faced an uphill battle in the Senate due to the GOP majority. It would also cut federal prison spending by nearly $1 billion. treasury over the next decade, according to a report by the Congressional Budget Office. It would generate roughly $13.7 billion in net revenue for the U.S. However, it doesn’t put pause on the opportunity that could be created if passed. Marijuana Penny Stocks To Watch According To AdvisorShares Are Marijuana Stocks On Your List Right Now? 5 Penny Stocks To Watch.However, in light of recent and more important stimulus dealings, there haven’t been many updates since the House approved the bill. That bill then gets pushed to the senate. House of Representatives approved a bill to federally legalize marijuana in a historic vote. December’s Bill Has Marijuana Penny Stocks In Focus Why could this be important to the potential of marijuana stocks right now? If Ossoff wins, Democrats will claim control of the Senate with a 50/50 divide, plus a tie-breaking vote from Kamala Harris after she is sworn in as vice president. David Perdue in the other race (as of 8:50 AM EST). Democrat Jon Ossoff is currently leading Sen. Here’s what we know so far: Democrat Raphael Warnock is expected to win the special Senate runoff election against GOP Senate candidate Kelly Loeffler. With the Georgia Senate runoffs overnight, eyes were on the state of the outcome on Wednesday morning. When you look at the awful war on drugs and the disproportionate impact it had on black men and creating then criminal records that have deprived people of access to jobs and housing and basic benefits.” “We have a commitment to decriminalizing marijuana and expunging the records of people who have been convicted of marijuana offenses. On the campaign trail, incoming Vice President Kamala Harris emphasized a commitment to push for steps to decriminalize the drug at the very least. (yet), the incoming administration has vowed to make it so. While there hasn’t been a clear cut path forward for federal cannabis legalization in the U.S. These cheap names have been a source of excitement and of despair with laws constantly changing. If there’s one group of stocks that has seen its fair share of volatility it’s been marijuana penny stocks. Marijuana Stocks Are Few & Far Between On Robinhood But These Are Seeing Action
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