As marijuana legalization sweeps the world, marijuana stocks continue to gain steam. The latest big news regarding marijuana is that the governor of Illinois will sign a bill that legalizes recreational marijuana. Marijuana penny stocks are feeding off of positive news developments and encouraging new companies to develop and innovate the industry. Here are some cannabis penny stocks to watch in July:
Marijuana Stock To Watch:
Driven Deliveries Inc. (DRVD)
Driven Deliveries Inc. (DRVD) is a marijuana company aiming to satisfy the needs of a growing convenient culture. The company is establishing itself both in the delivery and marijuana industries because it aims to deliver cannabis to consumers. As of now, Driven’s primary market is based in California, one of the largest marijuana markets in the world.
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While Driven is developing its footing in the California market, they have also begun to expand to other states. For instance, they have recently moved into the $530 million Nevada market. In addition, Driven partnered with Pure Ratios, a CBD and THC wellness company responsible for the Transdermal Reservoir Patch. This has given the company access to their patch which is a unique product found nowhere else.
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Furthermore, Driven has acquired Ganjarunner Inc. which has bolstered Driven’s expected revenue numbers. “The Ganjarunner management team is staying with the combined company as we are believers in the growth of Driven and Ganjarunner. Our integration is fully underway with a key focus on our logistics and IT infrastructure. This merger enables us to expand into new delivery markets while remaining a leader in the customer-centric, cannabis delivery industry,” explained Chris Haas, CEO of Ganjarunner.
Marijuana Stock To Watch:
New Age Beverages Corporation (NBEV)
New Age Beverages Corporation (NBEV) sells ready-to-drink cannabis-infused beverages. New Age offers a variety of beverages including tea, energy drinks, coffee, and water. The company has been making a name for itself as of late, making major expansion moves.
New Age launched its product for the first time internationally. They launched their NHANCED CBD into Hong Kong with plans to launch in 58 other countries in the near future. In addition, the company expanded its brand licensing agreements with Docklight Brands Inc. This allows New Age to sell more products provided by the Marley brand.
Marijuana Stock To Watch:
Auxly Cannabis Group Inc. (CBWTF)
Auxly Cannabis Group Inc. (CBWTF) is a vertical cannabis company that gives other marijuana companies financial solutions. They help cannabis companies minimize their risks while helping them obtain exposure.
Recently, the company announced that they signed a strategic agreement with Lonza Group to provide Dosecann Inc. with equipment. “We are very excited to be working in concert with a global leader in capsules and encapsulation technology and look forward to building a creative and fruitful relationship with the Lonza/Capsugel team,” stated Hugo Alves, President of Auxly.
Marijuana Stock To Watch:
CV Sciences Inc. (CVSI)
CV Sciences Inc. (CVSI) is a company that develops cannabidiol medicines and sells cannabis products to consumers. In terms of medicines, they have one drug, CVSI-007, a gum containing CBD and nicotine to help break smoking addictions. It is currently undergoing preclinical trials. Their consumer products revolve around their hemp-derived CBD oil called PlusCBD Oil.
Over the month of June, the company has continued to expand its presence in the cannabis industry. A clinical trial showed that their PlusCBD Oil improves sleep, reduces appetite, and improves the consumers quality life. In regard to PlusCBD Oil, CV Sciences announced the distribution of their product in Kroger stores across 17 states.
