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It has a sizeable, tech-heavy indoor production facility, which offers them more control over the yield as well the quality of their products.The company has almost no debt and a lot of cash (which is contrary to the industry norm).
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The primary reason for choosing this stock it has already shown stable growth potential, and if the market starts to thrive, the company can do so again. And it’s a sector that’s on the verge of exploding again (waiting for the US marijuana legalization). OrganiGram might be one of the best penny stocks in the marijuana sector. I tried to keep the selection diversified because sectors like metal and mining (materials) and energy might have more penny stocks than real estate or healthcare.Īnd apart from metrics like 5-year CAGR (for growth), I’ve also taken things like the nature of the business, its long-term prospects, and the company’s relative position in its industry into account.Īlso, note that you will find relatively few penny stocks worth considering when it comes to dividends, so it’s a good idea to focus on growth potential when it comes to most penny stocks. 14 Of The Best Penny Stocks In CanadaĪn overview of some of the best penny stocks in Canada might give you a better idea of the companies behind penny stocks, what kind of businesses they are, and whether they should be defined by (and averted on the basis of) their share price alone. This will give you access to the largest possible pool of penny stocks, and more choices mean a better shot of finding clear winners. Canadian investors can choose to invest in OTC stocks traded across the border using Questrade.īut if you wish to invest in some of the best penny stocks in Canada, we have to limit the definition to the $5 part. These markets offer less transparency and are less rigorously regulated, which makes it significantly more complicated for a retail investor to successfully execute trades there.īut this part of the definition doesn’t really apply to Canadian investors since Canada doesn’t have an OTC. The second requirement is usually expanded to include stocks that are traded in an over-the-counter market (OTC).
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So there is a new threshold (through common consent) of $5, and it also carries official weight, at least across the border. The term penny stocks to denote the stocks that actually traded for pennies (less than $1) would have made sense about a decade or so ago.īut thanks to inflation and its inverse relation to a dollar’s buying power, the definition doesn’t mean sense. 8 Conclusion What Are Penny Stocks In Canada?įirst of all, penny stocks can be stocks trading for more than $1.