The marijuana industry is blazing right now! For investors, this means a rare opportunity for double-digit growth. If you’re looking for the next big marijuana stock, there’s a good chance it still trades for less than a dollar. That’s because many marijuana companies trade as penny stocks, having only recently gone public. Below is a list of three compelling penny stocks that offer high-reward prospects right now.
MassRoots Inc. (MSRT)
MassRoots operates on one simple premise: that the best cannabis products are discovered and shared by marijuana enthusiasts who have experienced them firsthand. The Denver-based company was one of the industry’s first to go public, and currently trades under the ticker MSRT. With over 900,000 active users, MSRT offers one of the biggest networks of cannabis users on the net. This has allowed it to score major partnerships with cannabis organizations like ArcView Group and the National Cannabis Industry. The company’s web presence and reputation are also growing, which will enable it to boost revenue via advertising.
MSRT briefly traded above $1.00 earlier this year, and was last seen hovering around 90 cents. It has a market cap of nearly $74 million, offering plenty of opportunity at an affordable price.
Maple Leaf Green World Inc. (MGW)
Maple Leaf Garden World Inc. (MGW) operates north of the border in the bustling Canadian marijuana industry. The company, which serves the agricultural and environmental industry, is involved in the development of medical cannabis across North America. This includes leasing greenhouse facilities and working on joint ventures to set up growing operations in states that have legalized medical marijuana. MGW is looking to obtain a Marijuana for Medical Purpose Regulation License from Health Canada as well as licenses from the State of California to operate a medical marijuana business in America’s most populous state.
MGW’s stock has surged 750% over the past year, but still trades for less than $1.00. With a market cap of nearly $84 million, MGW provides promising upside for investors looking for diverse exposure to the regulated marijuana industry.
American Cannabis Company Inc. (AMMJ)
American Cannabis Company is one of the rare penny stocks producing steady sales while keeping overall debt levels under control. Investors have quickly caught on, sending the company’s share price to a record high of $1.95 before the November 8 election. AMMJ currently trades around 71 cents a share, having gained nearly 550% over the past 12 months. Its market cap is valued at just below $34 million.
The Denver-based company offers business consulting and advisory expertise to help marijuana growers navigate the complex regulatory environment. This includes product solutions related to licensing, construction and cultivation. The company is actively funding its growth plans with a $5 million fixed funding equity commitment from Tangiers Global LLC, and has concurrently entered a bridge loan program to boost its working capital.
In sum, marijuana penny stocks have proven highly volatile, but offer plenty of potential upside for investors willing to take a chance on a burgeoning industry. Each of the companies listed above has demonstrated strong upside over the past 12 months, as investors look to capitalize on the rapid innovation occurring in the regulated marijuana industry.
 SmallCapPower (November 11, 2016). “4 Canadian Marijuana Stocks That Could See Growth From the U.S. Legalization Votes.”
 Alex Carlson (September 26, 2016). “A Closer Look At American Cannabis Company Inc. (OTCMKTS:AMMJ). Insider Financial.