The marijuana sector is a hot one right now. A lot of the major players have taken a beating over the last year or so—including Canopy Growth Corp. (NYSE:CGC), Aurora Cannabis Inc. (NYSE:ACB) and Aphria Inc. (NASDAQOTH:APHQF)—but a lot of these stocks have bottoms in sight. In fact, you could make a case for putting a lot of the recreational marijuana stocks on your watch list right now. Today, we’ll be checking out three of these: GW Pharmaceuticals plc (NASDAQ:GWPH), AbbVie Inc. (NYSE:ABBV) and Insys Therapeutics Inc. (NASDAQ:INSY).

The market is rife with overvalued stocks, but not all of them are equally risky. The key is finding the right blend of growth and value. And if you’re looking for value, you need to look below the $50 level. Three stocks I like are Global Hemp Group ( OTC: HEMP ), Cannabiz Holdings ( CDB ), and Canada’s Silver Wheaton ( OTC: SLW ).

Money is a big issue, especially when it comes to getting rich, but it doesn’t have to be about investing in stocks. You can make money in the stock market with stock options, which are basically ownership rights you have over a company’s stock. You can essentially sell your stock options whenever you want, but you need to be careful not to sell too soon.. Read more about best stocks under 50 and let us know what you think.

 

These potential growth stocks won’t cost you a lot of money up front.

You may quadruple your money if you make a lot of investments. Some of them require large sums of money up advance. Many of them also take a long time to provide you the 100 percent return you want.

However, there are certain investment options that do not need a large initial commitment and do not develop at an excruciatingly slow pace. Here are three companies you can purchase for less than $50 apiece that have the potential to quadruple your money in the next five years.

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Cresco Labs is a company that specializes in research and development

When you think about cannabis stocks, you may have a bad image in your mind. Many of these stocks are unprofitable and hazardous. Some of them are downright shady. Cresco Labs (OTC:CRLBF), on the other hand, does not belong in that category.

Cresco is the largest cannabis distributor in the United States. With more than 30 retail outlets in ten states, including seven of the top ten largest markets, it’s also one of the leading multi-state cannabis businesses. 

The business is doing well. In the second quarter, revenues increased by almost 123 percent year over year. By the end of the year, Cresco aims to achieve a $1 billion yearly revenue run rate. It has tremendous growth potential in its existing markets, as well as excellent expansion chances in new areas.

 

Cresco’s stock is now trading for less than $10. The stock is now trading at just 2.1 times anticipated sales in 2022. Cresco is one of the greatest buys in the cannabis business, in my opinion.

DermTech

The phrase “game-changer” has been overused in recent years. But DermTech (NASDAQ:DMTK) is a business that, in my opinion, really merits the moniker. 

DermTech is a company that sells melanoma diagnostic testing. The company’s Pigmented Lesion Assay (PLA) test is 17 times less likely than the current conventional method of surgical biopsy and histological examination to miss a melanoma diagnosis. PLA is also around 40% less expensive than biopsy/histochemistry. 

Beyond melanoma, the firm wants to expand into other skin malignancies. This is significant, given that one in every five Americans may get skin cancer by the age of 70. DermTech estimates that its addressable market is worth $10 billion, with most of that potential centered on UV ray damage and skin cancer risk assessment. 

DermTech’s stock is currently trading around $40, having fallen almost 50% from its highs earlier this year. As more dermatologists become aware of PLA and prescribe the test more often, the stock should rebound significantly. 

SoFi Technologies is a company that specializes in high-

SoFi Technologies (NASDAQ:SOFI) is another company that has been battered this year but still has a bright future ahead of it. It’s a one-stop shop for all things digital financial.

SoFi has produced four consecutive quarters of positive adjusted profits before interest, taxes, depreciation, and amortization, despite the fact that it is still not profitable (EBITDA). Moreover, SoFi’s membership growth is quickening, with the number of members more than tripling year over year in Q2. 

SoFi is adding new features to its app that make getting loans, saving, spending, and investing simpler. Its Galileo division, which processes data for other financial platforms, may grow to be much larger than Sofi is now. 

Right now, the stock is less than $15. SoFi’s stock may potentially double or perhaps triple in value over the next five years as it converts to profitability with its platforms, in my opinion.

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