Supreme (TSX:FIRE) & Zenabis (TSX:ZENA)- 2 Rising Cannabis Stocks

2 min read | January 19, 2021 04:00 AM EST | By Team Kalkine Media

Supreme (TSX:FIRE) & Zenabis (TSX:ZENA)- 2 Rising Cannabis Stocks

Supreme Cannabis Company Inc. (TSX:FIRE)

Current Stock Price: C$ 0.22

The Toronto-based cannabis producer and the wholesale retailer has expanded its global supply of medical cannabis to Australia and Israel, as per its exchange filing dated January 8.

The pot stock has jumped almost 52 per cent in the last three months, led by the green stocks rally. The marijuana firm’s 10-day average trading volume has soared to nearly 4.4 million.

Its share has a price-to-cashflow ratio of 263 and a debt-to-equity ratio of 0.43, as per the TMX website. Supreme Cannabis has over 504 million listed shares outstanding, with a current market value of almost C$ 111 million.

In the first-quarter earnings of 2021, which ended on September 30, 2020, the cannabis supplier reported net revenue with a rise of 24 per cent quarter-over-quarter (QoQ). At the end of the quarter, Supreme Cannabis held cash and cash equivalent of C$ 20.4 million.

Zenabis Global Inc. (TSX:ZENA)

Current Stock Price: C$ 0.11

The cannabis cultivator’s scrip climbed as much as 29.4 per cent on Monday, January 18. More than 39.3 million shares were traded, helping the pot stock rank among top TMX’s volume actives. The stock has a 10-day average volume of 12.4 million.

The stock has gained 100 per cent in the last three months, with a current price-to-cashflow ratio of 0.90, as per TMX data. The licensed marijuana grower has approximately 800 million listed shares outstanding, with a market cap of nearly C$ 88 million.

Zenabis posted net revenue of C$ 19 million from the Cannabis segment in the third quarter of 2020, up 61 per cent quarter-over-quarter.

The company retailed 7,819 kg cannabis in Q3 2020, a jump of 98 per cent QoQ.

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