The 3 Top CBD Penny Stocks to Watch This Week Could Earn up to 503%

It’s tempting to think the cannabis industry’s growth has been stunted by COVID-19.

Actually, this is not as true as you might think. Believe it or not, one of our top CBD penny stocks still has upside potential of 503% for the year.

You see, today’s cheaper marijuana and CBD stocks are not a realistic picture of the cannabis industry. This is especially true when you talk about CBD stock prices hitting rock bottom.

One CBD penny stock, HEXO Corp. (NYSE: HEXO), said on May 13 (Wednesday) it received a scary note from the New York Stock Exchange. The stock fell below the $1 threshold for the NYSE, meaning it could be delisted from the exchange.

HEXO had gone from $1.64 to $0.43 since the start of the year, a 70% loss.

Normally, if the stock doesn’t rally back to $1 in six months, it’s booted from the exchange. But it’s very likely this stock might turn around in the coming months.

Even the suits running the NYSE know this…

You see, stocks in general have been down this year. And penny stocks like HEXO, because of their low prices, get hit with big percentage losses when the broader market tanks.

The New York Stock Exchange extended its “cure period” for stocks in response to the COVID-19 epidemic. Stocks have until December to return to normal.

So they agree that the broader market has widened the gap between stock prices and reality. What follows is that some stocks should bounce back above their $1 minimum by the end of the year.

Marijuana stocks and CBD stocks clearly fall into this category. Their prices do not speak to the actual value of cannabis and CBD products in the economy.

But the facts on the ground certainly show their potential:

Make no mistake, CBD sales are still poised hit $2 billion by the end of 2020. That would be almost double from 2019.

And by 2024, the CBD industry is projected to rocket to $20 billion.

That’s why we can’t recommend these CBD penny stocks enough right now. Though they’ve been down significantly over the last few months, how current prices compare to their actual value is mind-blowing.

We’ll start with HEXO. Here’s why we think it could easily remain on the exchange after December. In fact, it could gain 145%.

But that’s nothing compared to our top CBD penny stock today, a 503% gainer. So stay tuned…

Top CBD Penny Stocks to Watch, No. 3

HEXO Corp. (NYSE: HEXO) has been one of our favorite CBD penny stocks to watch over the last few years. One reason is that it’s hard to find cannabis stocks that trade on the NYSE to begin with.

Here’s why we think it has more staying power than the market reflects.

HEXO is not an ordinary CBD company. This CBD stock has been building a household name in CBD investing since it started in 2013.

It was one of the early movers in the cannabis, with other names like Aurora Cannabis Inc. (NYSE: ACB), Canopy Growth Corp (NYSE: CGC) and Cronos Group Inc. (NASDAQ: CRON).

Another thing that puts it in league with these big-name cannabis stocks is its diverse interests. Last year, HEXO teamed up with Molson Coors Beverage Co. (NYSE: TAP) to deliver six cannabis beverage brands.

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While this stock is significantly down year to date, as mentioned, its latest quarterly report tells a different story.

For Q2 2020, HEXO reported a 17% increase in net revenue, from $14.5 million to $17 million. It increased adult-use sales by 57% from Q1.

In addition, it’s been obtaining new licenses around Canada for selling cannabis and CBD products. This company continues to grow, and the pandemic isn’t doing much to stop it.

Shares of HEXO are down to $0.44 right now. But we’re confident in Wall Street’s target of $1.08 before the end of the year. That’s 145% for today’s investor.

If you’re looking for even more upside, here’s a CBD penny stock that’s about to soar 255%…

Top CBD Penny Stocks to Watch, No. 2

Like HEXO, CVSciences Inc. (OTCMKTS: CVSI) has been on our radar as one of the best CBD stocks to buy.

This stock has also taken a hit from the broader market this year. But we expect it to catch steam again as CBD continues in stride.

We like this CBD stock because it’s also exposed to a gigantic market. At the start of 2019, the company launched its PlusCBD oil product. By March, it was in 3,300 stores. That was a 48% jump in product availability for the company.

This company has continued to grow its presence in stores. Its oils are even available at Kroger Co. (NYSE: KR) and Harris Teeter today. So even while cities across the country are locked down from a pandemic, CVSciences products can be easily accessed.

As a result of rapid expansion, CVSciences has increased total revenue by 159% from 2017 to now.

You can buy shares of CVSciences for just $0.38 today. Analysts give it an average 12-month target of $1.18. That’s 255% growth for today’s investor.

But you could almost double that with our best CBD penny stock to buy today. Here’s a CBD stock with a chance at 503% growth.

The Best CBD Penny Stock to Buy

CbdMD Inc. (NYSE: YCBD) is one of the hottest penny stocks to watch this year. Like Hexo and CVSciences, this company has attached itself to some big names to give it some traction.

It’s teamed up with names like pro golfer Bubba Watson and pro football tight end Rob Gronkowski to pitch the health and recovery benefits of CBD for athletes. The step of normalizing these products in this way is huge for the growth of the CBD industry and for cbdMD.

This company has a hand in a wide range of products. It makes gummies, bath bombs, creams, and tinctures.

It’s not profitable yet, but it’s cutting costs fast. The company lost $2.54 per share in 2019, and it expects this will change in 2021 to a profit of $0.33 per share.

Fast growth is already evident in its past financials. CbdMD grew total revenue by 180%, from $8 million to $23 million, in 2019.

Shares of cbdMD trade for $0.84 right now. But analysts are targeting $5.07 over the next 12 months. That means you can pick it up today for 503% profit potential.

Action to Take: Don’t let the current prices fool you. The CBD industry is on its way up. And CBD penny stocks are getting ready to take off. Grab any one of these – HEXO Corp. (NYSE: HEXO), CVSciences Inc., (OTCMKTS: CVSI), or cbdMD Inc. (NYSE: YCBD) – for a chance at doubling your money before the year is over.

You Could See Gains of up to 1,000% with the Three Hottest Trends in Cannabis

Four of the brightest minds in cannabis recently gathered at the 2020 American Cannabis Summit – and they revealed what could be the three hottest trends in cannabis this year.

We’re talking about plays with the potential for gains of 288%… 790%… even up to 1,000%.

But you’re going to want to jump on these trends before federal legalization – because once the institutional money starts pouring in, the prices could shoot through the roof.

You can view the entire summit right here.

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