Don’t Tell Jeff Sessions – These Are the 3 Top Marijuana Stocks to Watch
Attorney General Jeff Sessions doesn’t hide his opposition to marijuana, but the reality is the legal cannabis movement is too big for him to stop. And that’s creating a once-in-a-lifetime profit opportunity for you.
Today, we’re looking at the three top marijuana stocks under $5 to watch that are set for huge profits no matter what Sessions wants.
You see, as attorney general, Sessions has focused on preventing large, established “vice” companies, such as Philip Morris International Inc. (NYSE: PM), from entering the lucrative cannabis industry.
This has had the unintended effect of protecting small marijuana companies that trade on over-the-counter exchanges from aggressive corporate competition.
With federal red tape tying up larger corporations, small marijuana companies are thriving – providing enthusiastic investors with an opportunity to access tremendous profits with very little initial investment.
According to BDS Analytics, the recreational marijuana industry will reach a valuation of $577 million this year in California alone.
While the stocks we’ll show you are exciting, retail investors should be aware of the inherent risks of investing in these companies. As small startups, they lack the kind of strong financials that often define traditional, attractive investments. We aren’t ready to recommend these companies yet, but we want to make sure Money Morning readers know about their potential.
Here are the three top marijuana stocks under $5 that are set to provide tremendous gains in this emerging industry.
Top Marijuana Stocks Under $5 to Watch, No. 3: InMed Pharmaceuticals Inc.
InMed Pharmaceuticals Inc. (OTCMKTS: IMLFF) is a Canada-based, pre-clinical-stage biopharmaceutical firm that focuses on researching and developing unique cannabis-based therapies.
The company’s main product is a topical cannabinoid product called INM-750, which has been developed to treat epidermolysis bullosa (EB). This is a genetic skin condition that causes blistering from just minor friction.
InMed is developing a topical drug called INM-085, which is a treatment for glaucoma, as well as drugs for other diseases including cancer, arthritis, and dermatological issues.
As a Canadian company, InMed is well positioned to take advantage of Canada’s full legalization of recreational cannabis, which is poised to come into effect this summer.
There is also a global market for medical marijuana products that InMed is set to take advantage of. According to ArcView Market Research, by 2027, international spending on legalized pot is expected to reach $57 billion, nearly $19 billion of which comes from medical marijuana. In comparison, the industry’s total output was $12 billion in 2016.
You can currently pick up shares of IMLFF for $1.18.
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