#10 - mCig Inc (OTCMKTS:MCIG)
mCig Inc. (OTCMKTS: MCIG) - We round out our list of ten top penny stocks with a pure speculative play in one of the most debated sectors: the cannabis industry. The question investors have to ask regarding mCig is if they see the current trend towards legalizing marijuana to become a reality in all 50 states. mCig is a marijuana cultivation construction company, which means they help build the greenhouses and other infrastructure that growers need to produce their product. Currently, the number of licenses issued in a particular state is severely limited. That’s what drives mCig’s potential. However, several states that have made marijuana legal are already loosening their restrictions, increasing competition and driving down the price of marijuana, causing some growers to go out of business.
However, if you’re just looking at a short-term play, mCig can be an intriguing option. The company reported earnings of$4.78 million in the fiscal year 2017, up from $1.72 million in 2016. And their profit was $1.53 million. Already in 2018, the company has brought in over $6 million in revenue. That’s a nice trend, but it has yet to be reflected in the stock price, which is still below $0.25 cents a share and is down about 28% for the year.
About BOTS
BOTS, Inc operates as a holding company. The firm engages in the manufacture and distribution of electronic cigarettes, vaporizers, and accessories. It operates through the following segments: Cultivation, Manufacturing and Distribution (“CMD“); Retail Sales; Media and Technologies; Agriculture; and Corporate.
Read More - Current Price
- $0.03
- Consensus Rating
- N/A
- Ratings Breakdown
- 0 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- N/A
Not all penny stocks are the same. Some are startups. Some are established companies that have weathered some hard times. Some are niche players in established industries. The important thing to remember as an investor is that there is a reason why their stock is trading at a low price. If you understand why and are willing to accept the risk that can come from waiting on a reward that may not materialize, then penny stocks can be an attractive addition to your portfolio.
Here are a couple of tips for selecting the right penny stocks for your portfolio:
Do your homework. This industry is rife with fly-by-night companies promising to be the latest “hot stock or industry”. If the fundamentals don’t match the promises, it’s prudent to wait.
It may be a good idea to only focus on sectors where you have a good knowledge base. That will make it easier to tell the contenders from the pretenders. You can use a screening service to give you a list of potential penny stock investments in a sector to help you narrow down your search
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