Canopy (WEED) & Aphria (APHA): 2 TSX Pot Stocks To Buy Under C$55

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 Canopy (WEED) & Aphria (APHA): 2 TSX Pot Stocks To Buy Under C$55

Summary

  • Commonwealth Fund Survey found that 23 per cent Canadians use cannabis, higher than international figure of 9 per cent.
  • Aphria stocks have returned almost 200 per cent in the last three months.
  • Canopy Growth stock is up 65 per cent in the last three months.

 


More Canadians are smoking pot than ever!

Given the coronavirus-induced lockdown and the associated lifestyle changes that came along with it, a survey by The Commonwealth Fund found that 23 per cent Canadians are using cannabis as compared to just nine per cent of their international peers.

The cannabis industry also received an impetus with pot-friendly US President Joe Biden across the border. The surge of two cannabis stocks Aphria Inc. (TSX: APHA) and Canopy Growth Corporation (TSX: WEED) on the back of Biden’s presidency is not surprising.

Let’s dive into the fundamentals of these two stocks:

 

Aphria Inc. (TSX: APHA)

 

Aphria has ranks highly on two TMX Stocklist of top price performer and top healthcare. It is also one of the most active stocks across the TSX and the TSXV with an average 10-day volume of more than 11 million.

This rallying midcap cannabis stock has returned over 290 per cent in the last one year and almost 200 per cent in the last three months.

Aphria’s financial reports show resilience.

Its second quarter FY21 (ending November 30, 2020) net revenue was C$160 million, up 33 per cent from the previous year quarter. Net revenue from cannabis went up 99 per cent year-over-year to C$67.9 million. Free cash flow stood at C$70 million.

However, the net loss widened to C$ 120 million from C$7.9 million a year ago.

APHA stocks are trading above C$23 apiece currently.

@Kalkine Image 2021

 

Canopy Growth Corporation (TSX:WEED)

 

Canopy Growth has been associated with many firsts.

Headquartered in Smith Falls Canada, Canopy was the first cannabis company in North America to debut on the stock market. It started trading on the New York Stock Exchange in May 2018.

It is also the first pot firm to hit $1-billion share trading volumes.

The company has developed production and distribution centers in more than a dozen countries.

The growth and performance of the company is reflected in its stock’s return, which is up 98 per cent in the last one year and 65 per cent in the last three months.

Canopy’s net revenue stood at C$152 million up 23 per cent from the corresponding period of 2019.

However, net loss also shot up by a massive 656 per cent YoY to C$829 million.

WEED stocks are trading at C$53 a pop currently.

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