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These 5 Marijuana Stocks Are Best Buys On The Robinhood App

While many new investors may feel they have missed the boat on the more prominent name in the marijuana stock market such as Canopy Growth Corporation (TSX:WEED) and Aurora Cannabis (TSX:ACB), others are just looking for the best stocks on Robinhood, an app that allows commission-free trading. Low price stocks on Robinhood are some of the best deals around, but, many investors wonder precisely which marijuana stocks to buy on Robinhood.

Since most pot stocks trade on the OTC markets or foreign exchanges such as the TSX, they are not available to investors on the Robinhood app. Still, there are some cannabis stocks on Robinhood that are worth looking into, even if they are only as short sell options.

Robinhood

For one reason or another, these five marijuana stocks are best buys on the Robinhood app:

22nd Century Group

Though probably more of a short sell pick 22nd Century Group (NYSE:XXII) is one of the best marijuana stocks on Robinhood, at least for investors looking for something cheap. When it comes to low price stocks on Robinhood, this company is a winner. 22nd Century Group is a biotech company that trades on the NYSE. This weed stock has a particular focus on cannabinoid-related products that come directly from industrial hemp. However, investors should be wary, as of all the Weed stocks on Robinhood; this part-time pot stock spends most of its resources attempting to develop strains of nicotine that are “non-addictive.”

The tobacco efforts are an attempt to cash in on new FDA regulations. It is difficult to recommend this company as a cannabis stock pick, even though, in 2017 they did harvest their first $1million hemp crop in a partnership with the University of Virginia. With vaping so much more popular, it is difficult to see anyone making money off of tobacco. Still, it is one of the low price stocks on Robinhood, trading at around $2.30.

Cronos Group Inc.

A pure play pot stock, Cronos Group Inc. (NASDAQ:CRON) (TSX-V:CRON) is one of the best weed stocks on Robinhood today. Aside for their much-publicized foray onto the Nasdaq this year, Cronos announced a significant bought-deal financing which they will use to fund international expansion. More notably, they recently signed a deal with MedMen, California’s top cannabis retail chain. They plan to bring the brand to Canada, giving them the title of one of the best marijuana stocks on Robinhood

“MedMen stores have been integral to mainstreaming cannabis, and they have become one of the most well-known and respected cannabis platforms in the U.S. We're very excited to bring the MedMen experience to Canada," said Cronos CEO Mike Gorenstein. "Cronos is focused on changing the perception of cannabis on an international scale, and we prioritize working with best-in-class partners who share our vision for the future.”

India Globalization Capital

The lowest of the low price stocks on Robinhood, India Globalization Capital (NYSE:IGC) is a diversified NYSE cannabis stock. Currently trading at $0.50 per share, this weed stock company recently announced a move into the blockchain space, which caused a bit of volatility in their share prices.

The cheapest of cannabis stocks on Robinhood, India Globalization Capital has a legacy infrastructure and commodity trading business along with its work with cannabis pharmaceuticals to treat Alzheimer’s patients.

Marrone Bio Innovations, Inc.

One of the more exciting weed stocks on Robinhood is Marrone Bio Innovations (NASDAQ:MBII) an operator in the agriculture, turf and ornamental and water treatment markets who provides bio-based pest management and plant health products. Last year it was announced that three of their active ingredients could legally be used on cannabis crops in California.

“We are pleased to meet the demand by the fast-growing number of cannabis growers in California and many other states,” said Dr. Pam Marrone, Founder and Chief Executive Officer, Marrone Bio Innovations at the time.  “We are also currently working with industry experts around the country to develop cannabis-specific ‘special local need’ labels in states where it is currently legal to market and sell medicinal and/or adult use cannabis.”

Marrone Bio currently trades at around $2.62 per share.

Zynerba Pharmaceuticals

One of the medical marijuana stocks on Robinhood, Zynerba Pharmaceuticals (NASDAQ:ZYNE) is another short sell option in the near term. Recently, the company reported losses of $8.1 million, nearly 60 cents per share. The company has recorded losses of $32 million for the entire year.

Even as a short sell move Zynerba is risky as the stock’s recent volatility saw it increase to a high of $12.8 and a low of $7.98. Some experts do predict adverse double-digit profit change in the future for Zynerba. Still, Zynerba is one of the more exciting weed stocks on Robinhood, with some saying the company may be undervalued and others arguing volatility will keep prices down.

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