Canadian Weed & Pot Stocks to Buy
With the current market value of Canadian cannabis stocks and the potential for gains, marijuana stocks show some upward momentum. Find out which of the best pot stocks you should buy that could yield potential gains in the short and long term. This is an opportunity for Canada’s top cannabis stocks to position themselves as they begin to recover in the market.
One of the Canadian marijuana stocks analysts have this week on their watch list is Tilray Inc. Tilray, a leading global packaged cannabis consumer company with locations in Canada, the United States, Europe, Australia, and Latin America. With the recent merger with Aphria Inc., Tilray will now be one of the largest revenue-generating Canadian cannabis companies in the industry. Through the merger of the two companies, the company has evolved into one of the world’s largest Canadian cannabis companies. It will become one of the dominant cannabis companies in Canada with its presence in many different markets.
Now that the recent bubble in Canadian pot stocks is now out of the air, investors realize that the impressive 46% growth in US cannabis sales in 2013 has been concentrated in a handful of mature markets. Shares of some of Canada’s largest cannabis companies have fallen from their peak prices last winter. What is likely to be a long time coming for the US cannabis market is regional in nature.
According to Wall Street, Canadian stocks are on track for earnings per share of $0.20 in Canadian dollars in fiscal 2021. Canadian pot companies looking to invest in the US market are impressive. According to the Wall Street Journal, four Canadian cannabis stocks are in the fast lane to give investors the green light.
An important factor in favour of organizigrams is that the company has chosen to focus on a single operational entity to avoid the acquisition frenzy plaguing many of its rivals.
The Massachusetts company is for sale alongside Canopy, the world’s largest publicly traded pot company. Today’s e-cigarette kings of the cannabis – exchange are the large US-based multi-state operators such as Curaleaf, Green Thumb Industries Inc., Cresco Labs Inc. and Trulieve Cannabis Corp. Other stocks such as Innovative Industrial Properties (IIPR) and Akerna (KERN) are in the US and are traded on major US exchanges but do not sell cannabis.
Although Canadian marijuana stocks are not listed on the major US stock exchanges because of provisions that prohibit companies from trading illegal products, some of these companies made investments and plans to establish businesses in the US in anticipation of federal legalization. In other words, these deals could provide CRON shares with an opportunity to boost the US market when federal legalization comes. In addition, some US-based operators that grow and sell cannabis in legal states, such as Curaleaf (CRLF) and Green Thumb Industries (GBTIF), grow and sell cannabis in Canada by the o’-the-counter.
Canopy Growth Corp. also has an option to acquire another U.S. marijuana company. This opens up the possibility that Tilray Inc. (FIRE) will move up in 2021 following its merger with Aphria Inc., which aims to tap into cannabis-infected beverages.
The company has struck a deal to buy a US cannabis operator with acreage in the CBD business. Altria also has a warrant to acquire an additional 10% of the Cronos Group (CRON), one of Canada’s largest marijuana holdings, which would allow the company to control the company in the future. In February, when the company presented its results for the third quarter, CEO David Klein said that the company would enter the legal US market for THC products by the calendar year 2021, if the legislation allows.
In the case of cannabis shares, this is because most of these companies are young, have inexperienced management, have little institutional sponsorship, and in many cases, are traded on the stock exchange. But, on the other hand, if you get involved with one of these companies, it could become one of the leaders in the industry years later, and the profits could be huge, so it’s worth taking a look at the initial stages.
Given the future potential growth of the cannabis market, more investors are looking for the best way to capitalize on it. As an investor, it is important to research the company before investing. In general, it will help you make good investment decisions if you know the company’s results and observe how the stock develops in the market.
If you think oil and gas stocks have been having a rough time in the last few weeks, look up marijuana stocks as of March 31, 2019. Everything has changed in the last year or so, and most cannabis stocks have lost at least half their value, particularly in Canadian pot stocks. For example, the most popular stock of millennial-oriented online investment app Robinhood, Aurora Cannabis, has fallen 9.1% since the stock market closed in mid-March 2019.
Canopy Growth (CGC) has lost more than expected as its overall market share has fallen. On the other hand, cannabis sales in Canada rose 6.81% year-on-year to $313.3 million in May. As a result, Canadian top stocks have seen significant declines in value and have been consolidating at a low level for several months.
The Marijuana Index covers the leading cannabis stocks in the United States. The figures and statistics on market developments are taken from the table below, dated 26 May 2021. The North American Marijuana Index covers leading cannabis stocks active in both the US and Canada.
In 2018 it was optimism over looming federal legalization in Canada that soaring pot stocks such as Canopy Growth Corporation (CGC) (report) and Tilray (TLRY) (report) sent the highest hopes of a growing industry that has been buoyed by valuations and reviews, not without reason. There has been a great deal of excitement about the legalization efforts in the major North American countries. Recent optimism about the possibility of increasing state legalization and federal legalization within the US has contributed to leading US cannabis companies such as Curaleaf (CURLF) and Trulieve (TRULIVE) (TCNNF) (report) and Canadian pot cane manufacturers such as Canopy, Tilray and Hexo Corp (HEXO) (report) last year having gained three-digit percentages, before a recent pullback.