The Best Cannabis Penny Stock of 2021

The best Cannabis penny stock of 2021 is likely to be $MRMD. With a Biden administration the future of cannabis legalization is bright and the Cannabis sector will be a big part of the story of the retail renaissance of 2022-2024.

The stock was $0.14 on October 28th, 2020 and has already shot up to $0.025 today. The thing is while Cannabis remains undervalued and volatile, a few penny stocks are worth buying at these levels. In October 2018 this stock reached a price high of $5.38. If another Cannabis bull market occurs in 2021, how high could the stock go?

At the Last Futurist as a stock picker we like to do really basic math. A lower price means more multiples of profit.

MariMed Inc. provides consulting services for the design, development, operation, management, and optimization of medical cannabis cultivation, production, and dispensary facilities. They have around 80 employees.

The Cannabis industry is really immature however there are a few bright spots. MRMD is one of only few companies in this field that has solid positive income and tangible proprietary products.

Check out some of $MRMD articles on the Motley Fool. Having broken out today from resistance levels at $0.24 is a really good sign for this stock. It’s up 22% so far today which for this stock is a lot. Cannabis is likely to be one of the bright sectors around X-mas, when the stock market is traditionally really healthy.

The last 3 weeks has seen an enormous amount of $ come back into the stock market with the vaccine news. The stock market is juiced, no pun intended.

It’s some of the beaten down Cannabis stock that have real balance sheets that stand some of the most to gain. $MRMD is on the OTC and as such isn’t easily bought by many new amateur investors.

Because $MRMD is already profitable, it will do great if the Cannabis industry rebounds well in the second half of 2021. By 2022 the field will be quite lucrative. MariMed had an adjusted operating profit in Q2 of 2019 of $5.3 million. That’s small but it’s something.

Cannabis companies still have a long way to go though. While it looks as if MariMed found a way to make money as a hemp seed dealer, it’s important to realize that MariMed basically sold the seeds back to itself. Still I think the risk is worth the reward for this one. There’s few penny stocks under $1 worth buying and holding for 2-3 years as much as this one.