Hot Marijuana Penny Stocks You Might’ve Missed In February 2021Posted by On


Are Marijuana Stocks On Your Watch List Right Now?

Tuesday has seen marijuana stocks smoke up the market and penny stocks are a big piece of that. Whether you’re talking about Canadian licensed producers or U.S. multi-state operators, the sector as a whole is on fire this week. Due, in part to broad attention on the space, some speculation from the Reddit community, and strong earnings results from some of the bigger names, heads are turning toward pot right now.

There are a few larger catalysts to take note of especially if you’re looking for marijuana penny stocks to buy. First, cannabis juggernaut, Canopy Growth (NASDAQ: CGC) released its third-quarter earnings for fiscal 2021 on Tuesday. Results showed revenue coming in higher than a year-ago period as well as above FactSet consensus.

The cannabis company reported $152.528 million CAD compared to estimates of $149.8 million CAD. However, its Q3 loss per share widened compared to a year ago and missed estimates. Even with this being the case, shares of CGC stock raced higher during the session. A lot of this was likely due to the company’s overall outlook on future growth prospects in light of more legalization initiatives in North America.

Furthermore, we see Tilray (NASDAQ: TLRY) also giving the sector a boost this week. The company has become one of the WallStreetBets community’s targets on Reddit looking for…

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Are Marijuana Stocks On Your Watch List Right Now?

Tuesday has seen marijuana stocks smoke up the market and penny stocks are a big piece of that. Whether you’re talking about Canadian licensed producers or U.S. multi-state operators, the sector as a whole is on fire this week. Due, in part to broad attention on the space, some speculation from the Reddit community, and strong earnings results from some of the bigger names, heads are turning toward pot right now.

There are a few larger catalysts to take note of especially if you’re looking for marijuana penny stocks to buy. First, cannabis juggernaut, Canopy Growth (NASDAQ: CGC) released its third-quarter earnings for fiscal 2021 on Tuesday. Results showed revenue coming in higher than a year-ago period as well as above FactSet consensus.

The cannabis company reported $152.528 million CAD compared to estimates of $149.8 million CAD. However, its Q3 loss per share widened compared to a year ago and missed estimates. Even with this being the case, shares of CGC stock raced higher during the session. A lot of this was likely due to the company’s overall outlook on future growth prospects in light of more legalization initiatives in North America.

Furthermore, we see Tilray (NASDAQ: TLRY) also giving the sector a boost this week. The company has become one of the WallStreetBets community’s targets on Reddit looking for…



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