Best Robinhood Penny Stocks: Marijuana

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Best Robinhood Penny Stocks: Marijuana

Posted by THE STREET on Saturday, March 5, 2022 Under: 848FINACE

Sundial Growers Inc. (NASDAQ: SNDL)

Sundial is a Canadian company that makes cannabis products for recreational consumption.

A large number of U.S. states have legalized marijuana, as have many countries around the world.

It seems a question of when, not if, the U.S. will legalize marijuana on a national level.

Sundial has several subsidiary brands, which it will use to appeal to different sectors of the cannabis market.

The company currently has its eye on Alcanna, Canada’s premier wine, spirits, and beer retailer.

With this purchase, the hope is to incorporate cannabis products into beverages for sale in North America.

It will be imperative for the company to find a solid entry point into the U.S. market over the next few years.

There has been plenty of attention since cannabis was legalized in Canada.

Sundial shares saw a considerable spike in February and a few smaller ones since but seems to be trading sideways at the moment.

Regardless, Sundial remains one of the most popular stocks on Robinhood, as Robinhood investors are particularly enamored with the cannabis sector right now.

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