- July 19, 2022 02:01 AM EDT
- Kajal Jain
- July 01, 2022 06:52 AM EDT
- Kajal Jain
Canopy Growth (TSX:WEED), Aphria & HEXO: 3 Growth Pot Stocks
- January 29, 2021 09:36 AM EST | Hina Chowdhary
Summary Aphria’s stock has soared over 85 per cent, driven by the higher cannabis revenue growth in Q2FY20. Canopy Growth’s scrips are up 50 per cent month-to-date, uplifted by its possible entry in the US market. HEXO hold ...Read More...
Is Sundial (NASDAQ: SNDL) Rally Another Attempt at Short Squeeze?
- January 29, 2021 07:15 AM EST | Kunal Sawhney
Stocks of NASDAQ-listed Sundial Growers Inc. have skyrocketed over the past two days, leaving many market watchers wondering if it is another attempt at forced short-selling by individual traders hoping to consolidate their positions. Many ...Read More...
Canada’s New Trip With First Psychedelic ETF Index
- January 28, 2021 06:53 AM EST | Kunal Sawhney
Summary Horizons ETF Management launched the world’s first Psychedelic ETF Index on January 26. Stocks of Psyched Wellness jumped over 12 per cent on the back of the psychedelic ETF launch. Its shares have yielded over 232 per cen ...Read More...
Supreme (TSX:FIRE) & Zenabis (TSX:ZENA)- 2 Rising Cannabis Stocks
- January 19, 2021 04:00 AM EST | Team Kalkine Media
Cannabis investors have started digging for small-cap cannabis companies amid the ongoing green wave. Earlier, investors were busy investing in large-cap or well-known marijuana companies such as Canopy Growth Corporation (TSX: WEED) or Aph ...Read More...
Valens (TSX:VLNS) & Pharmacielo (TSXV:PCLO): 2 Rising Pot Penny Stocks
- January 18, 2021 08:47 AM EST | Kunal Sawhney
Summary Stocks of Valens have added over 61 per cent growth in the last three months, with a current price-to-cashflow of 1353. Pharmacielo’s shares have zoomed over 266 per cent in the same period. Its stock ranks among TMX&rsquo ...Read More...
Mexico Moves A Step Closer To Create World’s Largest Legal Cannabis Market
- January 17, 2021 12:27 AM EST | Kunal Sawhney
We are on the verge of witnessing one more high tide in the ongoing green wave. Mexico is set to become the second Latin American country to decriminalize marijuana after Uruguay. Mexico’s health regulator has released the much-ant ...Read More...
Aphria (TSX:APHA) Reports 99% YoY Net Cannabis Revenue Growth, Stocks Surge
- January 14, 2021 10:15 AM EST | Hina Chowdhary
Summary Aphria’s net cannabis revenue ballooned by 99 per cent YoY to C$ 67.9 million in Q2 2021, as per the latest quarter reports released on Thursday. Gross revenue for the company’s adult-use cannabis products soared by ...Read More...
Canopy (TSX:WEED), Aphria (TSX:APHA) & HEXO Stocks Gain With Green Wave
- January 11, 2021 04:51 AM EST | Team Kalkine Media
With the United States set to legalize marijuana federally, year 2021 is likely to be a game-changer for the North American cannabis industry. The legalization will open up a range of prospects for the Canadian cannabis companies. Alongside ...Read More...
HempFusion’s (TSX:CBD.U) Rocking Debut Sets Tone For Upcoming Pot IPOs
- January 09, 2021 03:50 AM EST | Kunal Sawhney
Summary HempFusion Wellness raised US$ 17 million from its initial public offerings on the TSX. Stocks of cannabidiol firm rocketed 65 per cent on debut day, led by the promising legislative development in the US. Its first-day trading ...Read More...
ICLN & HMMJ: Taking Stock Of Trending ETFs
- January 07, 2021 08:53 AM EST | Team Kalkine Media
Summary Energy and Cannabis exchange traded funds (ETFs) rallied on Wednesday, buoyed by the blue wave in the US Senate. iShares S&P Global Clean Energy soared over 7 per cent as Saudi Arabia announced to cut its oil production star ...Read More...
Frequently Asked Questions
What's the potential for marijuana stocks?
Marijuana stocks and the companies they represent are quite popular among investors, especially young investors. Since the industry is comparatively new, thanks to its legalization, it might have scope for further growth, which may be quite notable if both recreational and medicinal uses are further adopted by other countries in the world. The coming years may see further mergers and acquisitions in the industry that may leave only a few marijuana giants, the way it is with tech stocks.
What is the top cannabis stock to buy?
It is hard to say which is the best cannabis stock in a market because stocks are subject to change based on market conditions. At the time of writing this, the top TSX cannabis stocks were Tilray (TSX:TLRY), Canopy Growth Corporation (TSX:WEED), Aurora Cannabis Inc (TSX:ACB) and Cronos Group Inc (TSX:CRON). The cannabis sector can be a little erratic at times and so perhaps it is best to consider well-established companies with big market caps. The above four are the TSX cannabis companies with billion-dollar market caps.
How do you think TSX cannabis stocks are going to do?
Cannabis seems to be a growing sector as of now. As more and more countries warm up to the potential medicinal benefits of cannabis, besides the legalization of its recreational use, it may help the Canada-based players that are developing expertise in the sector. The stocks might perform well in the longer horizon as the industry finds new markets outside of the home country. But there are downside risks as well as the sector may have passed its high growth phase.
Where do you feel like cannabis is going in the stock market?
In the US, the legalization of cannabis is a bipartisan issue. Over two-thirds of Americans say it should be legal for recreational use and 91 per cent agree it should be allowed for recreational or medical use. The Marijuana Opportunity Reinvestment and Expungement (MORE) Act is expected to be okayed by the House before the Senate votes. Both major parties seem to agree on its legalization, at least. This might bode well for Canadian pot companies as they have the infrastructure already in place to produce and the research with regards to product creation. The big Canadian companies might look to expand into the US, if or when it is legalized. They may be possibilities to acquire smaller firms to aid in expansion.
Are marijuana stocks a good long term investment?
In order for any stock to be a good investment in the long term, a lot depends on the sector the company operates in. Marijuana could be considered a growing sector as Canada-based producers have yet to tap the wider international market. If the global market welcomes marijuana products for their potential healthcare benefits, it might make the Canadian-listed stocks a good investment for the longer horizon. M&As with producers in other locations might also help these stocks to maintain dominance in the market.