No trader likes paying commissions on trades! Some so-called “discount” stock brokers charge as much as $9.99 to make a stock trade, and that means every time you buy or sell!
This, and ease of use, is why so many investors and traders alike have turned to the Robinhood app to get commission-free trading in so many different stocks. One question we get asked pretty often is: Can I trade marijuana stocks on the Robinhood app?
Well, there’s good news and bad news…
Bad News First
Foreign-listed and over-the-counter marijuana-related stocks are unfortunately unavailable for trading on the Robinhood app at this time.
A majority of the existing marijuana stocks are either traded on the OTC markets or traded on Canadian markets such as the TSX, the TSX Ventures Exchange, the CSE, and the NEO exchange. Beyond North American markets, there are even cannabis-related companies trading on the Frankfurt Stock Exchange, and the Australian Securities Exchange.
The Good News
According to Robinhood’s website, they hope to offer access to OTC equities, foreign domiciled securities and more in the future. In the meantime, the Robinhood app does offer investors access to all NYSE and NASDAQ-listed marijuana stocks, as well as NYSE and NASDAQ-listed cannabis-focused ETFs.
Until Robinhood starts offering expanded access to foreign-listed stocks and OTC-traded companies, there are still a long list of cannabis-related securities that are all available for trading commission-free on the Robinhood app.
Marijuana Stocks on Robinhood
22nd Century Group Inc. (NYSE:XXII) – 22nd Century Group, Inc. is a plant biotechnology company focusing on developing, marketing and licensing genetically-modified cannabis and hemp plants as well as tobacco plants. Their cannabis focuses on producing hemp plants with low levels of THC for us as food, oil, fabric and more. Additionally, 22nd Century Group’s cannabis division works to produce marijuana plant varieties with high CBD levels for the medical cannabis industry.
AbbVie, Inc. (NYSE:ABBV) – AbbVie, Inc. is a global, research-driven biopharmaceutical company committed to developing innovative advanced therapies for some of the world’s most complex and critical conditions. Since the mid-’80s, AbbVie has marketed a drug called Marinol. Marinol is a dronabinol capsule that is chemically identical to tetrahydrocannabinol, a.k.a. THC.
Altria Group, Inc. (NYSE:MO) – Besides Altria Group, Inc.’s well-known tobacco-focussed subsidiaries like Philip Morris USA Inc., U.S. Smokeless Tobacco Company LLC, and more, Altria also holds equity investments in international cannabis producer Cronos Group Inc. and e-cigarette industry-leader JUUL.
- Aphria Inc. (NYSE:APHA) – Aphria Inc. is a leading global cannabis company driven by an unrelenting commitment to our people, product quality and innovation. Headquartered in Leamington, Ontario – Aphria drives sustainable long-term shareholder value through a diversified approach to innovation, strategic partnerships, and global expansion, with a presence in more than 10 countries across 5 continents.
Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) – Arena Pharmaceuticals, Inc. is a biopharmaceutical company focused on developing novel, small molecule drugs with optimized receptor pharmacology designed to deliver broad clinical utility across multiple therapeutic areas. Arena’s APD371, a CB2 agonist, is in clinical-stage studies. The CB2 receptor is part of the naturally occurring cannabinoid receptor system in our bodies.
Aurora Cannabis Inc. (NYSE:ACB) – Aurora Cannabis Inc., has funded capacity in excess of 500,000 kg per annum and sales and operations in 24 countries across five continents, making it one of the world’s largest and leading cannabis companies. In addition to the company’s rapid organic growth and strong execution on strategic M&A, Aurora has invested in and established strategic partnerships with a range of leading innovators, including Choom Holdings Inc. and more.
- CannTrust Holdings Inc. (NYSE:CTST) – CannTrust Holdings Inc. is a federally regulated licensed producer of medical and recreational cannabis in Canada, and the 2018 Canadian Cannabis Awards “Top Licensed Producer of the Year”. Founded by pharmacists, CannTrust brings more than 40 years of pharmaceutical and healthcare experience to the medical cannabis industry and serves more than 69,000 medical patients with its dried, extract and capsule products.
Canopy Growth Corp. (NYSE:CGC) – Canopy Growth Corp. is a world-leading diversified cannabis and hemp company, offering distinct brands and curated cannabis varieties in dried, oil and Softgel capsule forms. From product and process innovation to market execution, Canopy Growth is driven by a passion for leadership and a commitment to building a world-class cannabis company one product, site and country at a time. The Company has operations in 12 countries across five continents.
- Coffee Holding Co., Inc. (NASDAQ:JVA) – Coffee Holding Co. recently entered the CBD-infused beverage space.
- Compass Diversified Holdings (NYSE:CODI) – Compass Diversified Holdings sold its majority-owned subsidiary, Manitoba Harvest, to Tilray Inc. for an aggregate sales price of up to $419 million CAD, of which $277.5 million CAD is payable at closing, comprised of $150 million CAD in cash and $127.5 million CAD in Tilray stock.
Corbus Pharmaceuticals Holdings Inc. (NASDAQ:CRBP) – Corbus Pharmaceuticals Holdings, Inc. is a Phase 3 clinical stage pharmaceutical company focused on the development and commercialization of novel therapeutics to treat rare, chronic, and serious inflammatory and fibrotic diseases.
- Cronos Group Inc. (NASDAQ:CRON) – Cronos Group Inc. is a globally-diversified cannabinoid company with international production and distribution across five continents. Cronos Group is committed to building disruptive intellectual property by advancing cannabis research, technology, and product development.
GW Pharmaceuticals Plc. (NASDAQ:GWPH) – GW Pharmaceuticals Plc. is a biopharmaceutical company focused on discovering, developing and commercializing novel therapeutics from its proprietary cannabinoid product platform in a broad range of disease areas. GW Pharmaceuticals, along with its U.S. subsidiary Greenwich Biosciences, received FDA approval for its cannabidiol-based EPIDIOLEX oral solution for the treatment of seizures associated with Lennox-Gastaut syndrome or Dravet syndrome.
- HEXO Corp. (NYSE:HEXO) – HEXO Corp. is an award-winning consumer packaged goods cannabis company that creates and distributes prize-winning products to serve the global cannabis market. Through its hub and spoke business strategy, HEXO Corp is partnering with Fortune 500 companies, bringing its brand value, cannabinoid isolation technology, licensed infrastructure, and regulatory expertise to established companies, leveraging their distribution networks and capacity.
India Globalization Capital, Inc. (NYSE:IGC) – India Globalization Capital, Inc. has two lines of business, a legacy infrastructure business and a medical cannabis business that has developed a flagship product for Alzheimer’s patients. Also, the company recently announced that it will develop and commercialize a hemp-derived CBD energy drink.
Innovative Industrial Properties, Inc. (NYSE:IIPR) – Innovative Industrial Properties, Inc. is a self-advised Maryland REIT focused on the acquisition, ownership and management of specialized industrial properties leased to experienced, state-licensed operators for their regulated medical-use cannabis facilities.
INSYS Therapeutics Inc. (NASDAQ:INSY) – INSYS Therapeutics Inc. is a specialty pharmaceutical company that develops and commercializes innovative drugs and novel drug delivery systems for therapeutic molecules that improve the quality of patients’ lives. Currently, INSYS has two different cannabinoid-based drug candidates under development.
Intec Pharma Ltd. (NASDAQ:NTEC) – Intec Pharma Ltd. is a clinical-stage biopharmaceutical company focused on developing drugs based on its proprietary Accordion Pill platform technology. Intec’s product pipeline includes four product candidates in clinical trial stages including an Accordion Pill with the two primary cannabinoids contained in cannabis, CBD and THC, which is being developed for various indications including low back neuropathic pain and fibromyalgia.
- Level Brands, Inc. (NYSE:LEVB) – Level Brands, Inc. operates as a branding and marketing company through three business segments including Professional Products, Licensing, and Entertainment. In addition to its own CBD brand called Mingo Rad, Level Brands also partnered with Isodiol International Inc. to launch a separate Kathy Ireland CBD health and wellness product line.
Marrone Bio Innovations, Inc. (NASDAQ:MBII) – Marrone Bio Innovations, Inc. is a leading provider of bio-based pest management and plant health products for the agriculture, turf and ornamental and water treatment markets. Marrone Bio Innovations’ products are legal for use on cannabis crops in the California cultivation market and beyond.
- Neptune Wellness Solutions Inc. (NASDAQ:NEPT) – Neptune Wellness Solutions Inc. specializes in the extraction, purification, and formulation of health and wellness products. Bringing decades of experience in the natural products sector to the legal cannabis industry, Neptune is licensed by Health Canada to process cannabis for the production of cannabis extracts and oils at its 50,000 square foot facility located in Sherbrooke, Quebec.
Psychemedics Corp. (NASDAQ:PMD) – Psychemedics Corp. pioneered the use of hair drug testing and remains by far the largest and leading supplier of drugs of abuse hair testing worldwide. Psychemedics is the only company to develop and patent a process that releases virtually 100% of the drugs from the inside of the hair, providing the greatest ability to detect drug use.
Pyxus International, Inc. (NYSE:PYX) – Pyxus International, Inc., formerly Alliance One International, Inc., is a major agricultural company covering tobacco and cannabis. FIGR, Inc., a wholly owned indirect subsidiary of Pyxus International, is a holding company that owns majority stakes in two Canadian cannabis producers, Canada’s Island Garden, a licensed producer in Charlottetown, Prince Edward Island, and Goldleaf Pharm, a late-stage licensed producer applicant in Simcoe, Ontario.
Scotts Miracle-Gro Company (NYSE:SMG) – Scotts Miracle-Gro Company is deeply invested in the cannabis industry through its wholly-owned subsidiary, The Hawthorne Gardening Company. Additionally, Scotts has an exclusive research and development partnership with leading Canadian cannabis producer The Flowr Corporation.
Therapix Biosciences Ltd. (NASDAQ:TRPX) – Therapix Biosciences Ltd. is a specialty clinical-stage pharmaceutical company led by an experienced team of Senior Executives and Scientists. Its focus is creating and enhancing a portfolio of technologies and assets based on cannabinoid pharmaceuticals. As of December 2018, Therapix was still negotiating a transaction to be acquired by FSD Pharma Inc.
- Tilray Inc. (NASDAQ:TLRY) – Tilray Inc. is a global pioneer in the research, cultivation, production, and distribution of medical cannabis and cannabinoids currently serving tens of thousands of patients in twelve countries spanning five continents.
Zynerba Pharmaceuticals Inc. (NASDAQ:ZYNE) – Zynerba Pharmaceuticals Inc. is a pharmaceutical company focused on developing and marketing synthetic cannabinoid therapeutics for transdermal delivery. These therapeutics seek to meet the unmet needs of patients with epilepsy, osteoarthritis, fibromyalgia, peripheral neuropathic pain, and Fragile X syndrome.
Marijuana ETFs on Robinhood
In addition to the stocks above being available to trade commission-free on Robinhood, a few different ETFs are also available, giving investors basket-style access to a diversified portfolio of marijuana-related companies all at once.
- AdvisorShares Vice ETF (NASDAQ:ACT) – The AdvisorShares Vice ETF is an actively managed exchange-traded fund built on the investment philosophy that even in the toughest economic environments, people still historically spend on their leisure, habits, and vices – including cannabis.
- ETFMG Alternative Harvest ETF (NYSE:MJ) – The ETFMG Alternative Harvest ETF tracks a market-cap-weighted index of global firms engaged in the legal cultivation, production, marketing or distribution of cannabis, cannabinoids or tobacco products.
If you’re looking for the cheapest marijuana stocks on Robinhood on a dollars-per-share basis, check out the video below. For more information on any of the marijuana stocks mentioned, be sure to check out their stock profiles in our marijuana stocks database (also linked in tickers above). Also, be sure to subscribe to updates here so you never miss an important development.
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