July 13, 2021, 3:27 p.m. EDT

Best Penny Stocks To Buy Before Marijuana Legalization? 4 To Watch Now

Watchlist Relevance

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    OrganiGram Holdings Inc. (OGI)
  • X
    Eastside Distilling Inc. (EAST)
  • X
    Evogene Ltd. (EVGN)

or Cancel Already have a watchlist? Log In

2. Eastside Distilling Inc. /zigman2/quotes/204107419/composite EAST -2.18%

In the case of Eastside Distilling, it could be feeling some of the sympathy sentiment play a role right now. Traditionally speaking, the company focuses on consumer beverages. Its product portfolio includes bespoke spirits, liqueurs, and premixed cocktails. However, a while back, the company launched a new brand, Outlandish Beverages LLC. The target product was CBD beverages. This brand was built to market mixers and tonics.

[Read More] Hot Penny Stocks to Watch Today If You Like Marijuana Stocks

What I will say is that Outlandish seems to be a tiny piece of the Eastside puzzle. In fact, not much has been elaborated upon in over a year. The most recent investor deck doesn't reference the brand either. However, in an 8K filing in February , Outlandish was mentioned among Eastside's other subsidiaries regarding a loan maturity date extension with Live Oak Banking Company. So, there are a few breadcrumbs left leading back to Outlandish.

3. Evogene Ltd. /zigman2/quotes/208517458/composite EVGN +1.20%

Similar to Eastside, Evogene isn't a 100% marijuana penny stock. The company operates via several district arms. Mainly operating in the biotech space, Evogene's suite of companies includes Biomica (microbiome predictive biology), AgPlenus (agriculture chemicals to protect crops), Lavie Bio (microbiome tech for agricultural productivity), Castera (castor seed development), and Canonic for commercial medical cannabis products.

Clearly, it's Canonic, which takes the focus in this article. Evogene announced earlier this year that Canonic entered into agreements with a medical cannabis company, Tikun Olam-Cannbit Pharmaceuticals. The duo will work to produce and distribute Canonic's medical cannabis products in Isreal. While Evogene's subsidiary isn't set to begin distribution until 2022, it offers some preliminary exposure to the global cannabis industry.

4. Intec Pharma Ltd.

In the case of Intec Pharma, it has exposure to marijuana legalization via its treatment pipeline. One of the core points of interest for the company is its Accordion Pill delivery system. It hopes to enhance the efficacy and safety of existing drugs by utilizing this technology. One of its early state developments for the system is with its "AP-cannabinoids" platform. The goal is the leverage the Accordion Pill to deliver each or a combination of primary cannabinoids within Cannabis sativa, cannabidiol, and tetrahydrocannabinol.

A Phase 1 single-center single-dose study compared two forms of AP-CBD/THC with GW Pharmaceuticals' ( NASDAQ:JAZZ ) Sativex. Results showed "significant improvements" in the exposure of CBD and THC versus Sativex. Though not much has been discussed by the company since then, it hasn't stopped traders from speculating on things. Tuesday's session saw NTEC stock jump over 8%.

Will Marijuana Legalization Happen?

With so many states and countries riding the legal cannabis wave, the discussion surrounding federal marijuana legalization in the US is changing. More proposals are getting submitted, and more conversations are happening. Whether this next step results in a real bill is to be seen. But what we can say is that the speculative nature of the cannabis industry tends to feed off of the unknown. So if marijuana penny stocks are on your list right now, keep this in mind, and volatility can play its role in bullish and bearish sentiment-driven trading.


Is there a problem with this press release? Contact the source provider Comtex at editorial@comtex.com. You can also contact MarketWatch Customer Service via our Customer Center.

US : U.S.: Nasdaq
$ 0.68
-0.02 -2.18%
Volume: 18,048
June 28, 2022 4:00p
P/E Ratio
Dividend Yield
Market Cap
$10.64 million
Rev. per Employee
US : U.S.: Nasdaq
$ 0.76
+0.0090 +1.20%
Volume: 81,865
June 28, 2022 3:59p
P/E Ratio
Dividend Yield
Market Cap
$31.39 million
Rev. per Employee

1 2
This Story has 0 Comments
Be the first to comment

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.