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Summary
- Aurora stocks have returned over 35 per cent in the last three months.
- GTEC stocks have soared over 18 per cent in the last three months.
- The EU may authorize cannabis for medical use in the next 18 months, said Aurora in its exchange filing.
Canadian cannabis stocks have been on a surge since the U.S. election results 2020 and president-elect Joe Biden’s push to allow federal usage of recreational cannabis. It would aid cannabis companies to operate legally throughout United States. Canadian cannabis companies will get listed on US exchanges, getting access to big bull investors. However, US-based investors can buy or sell Canadian cannabis stocks through over-the-counter markets.
In days to come, pot stocks may have enormous opportunities to further scale up. Cannabis expansion rates in the U.S. market are strong, numbers show.
Let us have a look at the following cannabis stocks and their market developments: Aurora Cannabis and GTEC Holdings.
Aurora Cannabis Inc. (TSX:ACB)
Current Stock Price: C$ 13.35
The Canadian pot company is expecting legalize of cannabis for medical use by the European Union (EU) in the next 18 months, as per its latest exchange filing.
The marijuana stock has soared over 35 per cent in the last three months. In the last one month, Aurora stocks have increased by nearly 5 per cent. Its current market capitalization is approximately C$ 1.88 billion.
As per TMX data, its profit-to-book (P/B) ratio is 0.38, and its total debt-to-equity ratio is 0.24.
The cannabis producer’s 10-day average trading volume has jumped to nearly 13 million units, helping it climb on TMX’s top volume stocklist.
The company is also placed among TMX’s top price performers, which have outperformed the TSX and TSXV with the highest price gains in the last 30 days, and TMX’s top healthcare stocks, which surpassed their peers in the markets over the last 30 days.
Its global medical business witnessed an over 40 per cent net revenue surge in the first quarter of fiscal 2021. The cannabis company posted total and cannabis net revenue of C$ 67.8 million in Q1 FY21.
GTEC Holdings Ltd. (TSXV:GTEC)
Current Stock Price: C$ 0.13
This drug manufacturer stock is up over 18 per cent in the last three months. However, the stock is trading flat in the last 30 days.
GTEC’s profit-to-book (P/B) ratio is 0.52, and its present debt to equity ratio stands at 0.20, as per the TMX portal.
The pot stock is placed highly among micro and smallcap cannabis stocks on the TMX portal.
In the third quarter of fiscal 2020, the company registered a revenue of C$ 2.4 million, compared to C$ 1.5 million, a rise of 59 per cent quarter-over-quarter, guided by the sale of 279 kilograms of marijuana.
The company recorded a gross margin C$ 1.44 million, compared to c$ 873,000 in Q2 FY20, up 65 per cent.
Its recreational cannabis transactions accounted for 96 per cent of total sales, compared to 83 per cent in the second quarter of fiscal 2020.
