Forget Sundial Growers: These Marijuana Penny Stocks Are Much Better Buys
Since the beginning of February, momentum-chasing investors have arguably coveted no stock more than Canadian licensed cannabis producer Sundial Growers (NASDAQ: SNDL). Even though Sundial pulled back notably to end the previous week, shares of this penny stock are up 155% since the month began, and a staggering 1,350% since the end of October.
There are two factors behind the sudden love for Sundial. First, investors are clearly excited about the possibility of the U.S. legalizing marijuana at the federal level. Former Senate Majority Leader Mitch McConnell ensured that no cannabis legislation ever reached the Senate floor for a vote. New Senate Majority Leader Chuck Schumer, by contrast, has openly advocated for the end to cannabis prohibition at the federal level.
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Source Fool.com
