You can now buy cannabis stocks on Robinhood for $1…
The wait is over for some Robinhood users.
Right now, Robinhood is rolling out fractional investing.
For cannabis investors, that’s big news. Granted, your choices are limited because Robinhood does not offer OTC trading. But there are still a handful of great opportunities out there.
We know that many of you have a “$25 Plan” when it comes to cannabis investing, which is buying a few shares of cannabis stocks each week and spending a total of $25.
Over time, that investment really does add up.
Well, now you can buy $25 of stock each week in individual companies, no matter how much the stock is trading for! You may really like Constellation Brands (NYSE: STZ) but don’t want to buy $160 for just one share.
Well, now you can invest as little as $1 and you will receive a fraction of STZ shares.
You could also buy $25 worth of STZ.
Or $50 worth of STZ.
Or $100 worth of STZ.
Whatever fits into your investment plan.
This gives you even more control to achieve your goals through a planned strategy.
For today, we wanted to take a look at the companies you can buy through fractional share investing.
And if you are still on the waiting list or still waiting for that option, don’t worry. Robinhood should be allowing you to buy fractional shares as it rolls out the feature to more users.
Now, this is just a small list of just some of the companies you can buy fractional shares of on Robinhood. These are not recommendations just through being listed in this article.
It is just to show some of the options out there for cannabis investors.
Those in NICI Membership can access our model portfolio to follow specific trade instructions.
Now, let’s take a look at a few of the cannabis stocks you can buy for as low as $1 on Robinhood…
Fractional Share Investing on Robinhood
- Cronos Group Inc. (Nasdaq: CRON)
- Canopy Growth Corp. (NYSE: CGC)
- Tilray Inc. (Nasdaq: TLRY)
- Innovative Industrial Properties Inc. (NYSE: IIPR)
- Constellation Brands (NYSE: STZ)
Again, the list is small just to show you a few of the options out there.
But it opens up a whole new world of investing. It’s a great opportunity to be able to by $25 of IIPR because, over time, that $25 invested each week will turn into a full share very soon.
You may even see this new feature launched outside of Robinhood with your current brokerage service in the near future.
We’ll keep you updated as the feature rolls out to more investors.
Let us know in the comments what you think about buying shares of cannabis stocks for as little as $1.
11 responses to “Robinhood Allows Fractional Investing”
April 09 2020