4 CBD Penny Stock Gainers Under $1: Auxly Stock Doubles

cbd penny stock

The CBD industry has grown at a highly impressive rate over the past year or so, and if experts are to be believed, it is going to grow into a multibillion-dollar industry in the next five years. Since many of the smaller companies in the industry could eventually grow into major players in this space, it could be worthwhile for investors to take a closer look at some of the CBD penny stock gainers. However, at the same time, investors should also keep in mind that the recent warnings from the United States Food and Drug Administration have proven to be a major blow to the sector at large.

CBD penny stocks offer investors an opportunity to buy into a growing sector for a relatively low outlay. If those companies eventually grow into medium or large CBD companies, then the payoff could be substantial for investors. Over the the past few years, plenty of new CBD companies have been established, and well-known cannabis companies have also set up their own CBD businesses in addition to their regular businesses.

Here is a quick look at four CBD penny stocks that could be tracked by investors at this point in time.

4 CBD Penny Stock Gainers: Auxly Cannabis Group (TSXV:XLY) (OTCQX:CBWTF)

Auxly Cannabis has emerged as a viable option for investors who might be looking to invest in CBD penny stocks. Auxly stock has rallied since the middle of March, gaining 110% since then

Earlier in April, the company made a major announcement. Auxly announced that its fully-owned subsidiary, Dosecann LD, has entered into an agreement with Nature Corps International for exclusive global rights for Omega Rich Ahiflower Oil. The oil in question is going to be used in cannabis products.

At the time of writing, Auxly stock is up by 4% at C$0.45.

4 CBD Penny Stock Gainers: Aleafia Health (TSX:ALEF) (OTCQX:ALEAF)

cbd penny stock

One of the CBD penny stocks that ought to be on the radars of many investors at this point is Aleafia Health. On April 17, the company provided an update on some of its growth initiatives. Since mid-March, Aleafia has managed to conclude as many as 3,300 patient consultations through its virtual clinics.

>> 3 Best Pot Stocks to Buy Now: Tilray Stocks Soars 35% in 2 Sessions

Aleafia also announced the launch of the home delivery of medical cannabis products for patients who are registered in Toronto. The stock has rallied by 50% over the past two weeks.

It could be worthwhile for investors to keep in mind that Aleafia will announce its first-quarter financial results on May 13 before the opening of the markets. This could be a key event with regards to the fortunes of Aleafia stock.

4 CBD Penny Stock Gainers: Harvest Health and Recreation Inc (CSE:HARV) (OTCQX:HRVSF)

Over the past year or so, Harvest Health has emerged as one of the key players in the CBD space, and it is little wonder that it is generally regarded as one of the more important CBD penny stocks in the market. Earlier in April, the company posted its financial results for the fourth quarter of 2019, and in recent days, the stock has rallied strongly. Over the past seven trading sessions, it has rallied by 30%.

The revenue for the period stood at $37.8 million, falling short of analysts’ expectations of $39.5 million. Adjusted EBITDA losses for the quarter came in at $6.8 million, which was higher than analysts’ estimates of $3.23 million.

The company added that in 2019, it opened 21 new retail outlets, and the total number of stores under its control as of year-end stood at 31.

4 CBD Penny Stock Gainers: cbdMD (NYSEAMERICAN:YCBD)

cbd penny stock

cbdMD has emerged as another CBD penny stock to have rallied hard over the past month or so. Earlier in April, the company announced preliminary second-quarter sales of around $9.4 million. Analysts had estimated sales of $12.3 million.

The company withdrew its projections for the full year in light of the coronavirus crisis. YCBD stock has, however, performed well, gaining 50% in the past month. While the company did expand its presence to 5,300 retail outlets, it is important to note that in the second quarter, 70% of its sales were generated from online channels.

Gross margins for the period stood at 65%. The company ended the month of March with a cash balance of $14.5 million. This may not be a lot of money under the circumstances, but it does give cbdMD some sort of cushion for the time being.

>> Read More CBD News

>> Read More Penny Stock News

Featured image: DepositPhotos © Nadki

Please See Disclaimer

If You Liked This Article Click To Share

Risks and Disclosure:

Information provided in this correspondence is intended solely for informational purposes and is obtained from sources believed to be reliable. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained on this website is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between any predictions made or suggested and the actual results.

All statements and opinions expressed are the opinions of the author and not of Potstocknews.com or its officers. The author is wholly responsible for the validity of all statements. Potstocknews.com was not involved in any aspect of the article preparation. The author was not paid by Market Jar Media Inc for this article. The author did not pay Potstocknews.com to publish or syndicate this article.

This article does not constitute as investment advice. Each reader is encouraged to consult with his or her individual financial advisor; any and all actions taken by a reader as a result of the information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Potstocknews.com's terms of use and full legal disclaimer. This article is in no way a solicitation for investment. Potstocknews.com does not render general or specific investment advice. Any information on Potstocknews.com should not be considered a recommendation to buy or sell any security. Potstocknews.com does not endorse or recommend the business, products, services or securities of any company mentioned on Potstocknews.com.

Futures, stocks and options trading involves substantial risk of loss and is not suitable for every investor. The valuation of futures, stocks, and options may fluctuate, and, as a result, clients may lose more than their original investment and possibly their entire investment. Any content on this website should not be relied upon as advice or construed as providing recommendations of any kind. It is your responsibility to confirm and decide which trades to make. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.

Please see our full disclaimer here for additional details before making any investment decisions.