With legal cannabis still an emerging market, it can be difficult to find a marijuana stocks the major exchanges. As a result, you may have a hard time finding them on Robinhood.
To invest in all the best cannabis stocks, you need to look at the over-the-counter (OTC) markets. This is where you can trade stocks and other securities without the supervision of a central exchange like the New York Stock Exchange.
The downside here, of course, is that there is less transparency in trading, and it’s less regulated.
The benefit of trading over the counter, of course, is that you get access to stocks you could not buy otherwise. And many have tremendous growth potential, like the best marijuana stock we’ll show you today.
Top cannabis winners in the OTC market already include Curaleaf Holdings Co. (OTCMKT: CURLF), which popped as much as 551% in the last three years, from $4.28 to $16.85.
In about the same time period, from December 2018 to March 2021, Trulieve Cannabis Corp. (OTCMKTS: TCNNF) rose 613%, from $7.07 to $50.42.
These are examples of why the OTC markets can be worthwhile if you know where to look. And Money Morning’s Chris Johnson has one marijuana stock pick on the OTC exchanges that deserves your attention today.
The Best Marijuana Stock to Buy OTC
Chris recommends Decibel Cannabis Co. Inc. (OTCMKTS: DBCCF) as one of the top marijuana penny stocks to buy right now.
Decibel Cannabis Co. is a Canadian marijuana company managing multiple production houses and cannabis brands focused on high-quality products and retail experiences.
The company has three production houses and four brands including Qwest, Blendcraft, General Admission, and Prairie Records.
Qwest is marijuana growth project. Blendcraft, true to its name, designs unique blends from the Qwest crop. General Admission is a broader, curated portfolio of marijuana products for people to try. Finally, Prairie Records is a hybrid record store cannabis shop.
Decibel’s production houses are divided between the Qwest Estate, where the marijuana is grown, and its production and cultivation facilities called The Plant and Thunderchild.
This is still a very young cannabis company with a wide range of brands to build on. As marijuana catches on in the mainstream, a company with enough resources to focus on quality and diversification has a good shot at competing with the best.
With that, here’s how Chris Johnson recommends you play Decibel Cannabis stock…
How to Play Decibel Cannabis
This isn’t because of any big earnings win or merger news. Chris is interested in this stock because of a big catalyst underway that can move marijuana stocks trading at penny stock prices sky-high. Decibel trades for just $0.27, which means a big volatility event could move it by an enormous percentage.
We’re talking double, triple, or quadruple today’s price over a short period of time.
Here’s how that works…
The 52-week high for DBCCF is $0.30. If it climbs from $0.27 back to $0.30, it’s an 11% pop.
But the technical indicators point to a potential breakout significantly greater than that. The volume on this stock is on the rise. If shares start to climb with this increasing volume, it could accelerate the share price rise and blow the stock price to new levels.
Chris says it could “trigger a volatility rally all the way to $0.33 and beyond.”
If you can get Decibel for $0.30 or less, do it with a 5% trailing stop when the stock hits $0.34.
$2 EV Stock Could Hit the Nasdaq TOMORROW – Get In NOW
This tiny EV stock has risen tenfold within the past year.
But its incredible run has just begun.
This little stock is now seeking an IPO on the big board, which means its 1,147% gain could now be mirrored over the next year.
Here’s what you need to know.
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About the Author
Browse Mike’s articles | View Mike’s research services
Mike Stenger, Associate Editor forMoney Morningat Money Map Press,graduated from the Perdue School of Business at Salisbury University. He has combined his degree in Economics with an interest in emerging technologies by finding where tech and finance overlap. Today, he studies the cybersecurity sector, AI, streaming, and the Cloud.
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