Cannabis Stocks

Kalkine Media explores 5 TSX pot stocks to watch in November

 Kalkine Media explores 5 TSX pot stocks to watch in November

With the growth in the sector, governments at a global level are moving towards legalizing the use of Cannabis. The S&P/TSX Cannabis Index witnessed a QTD (quarter-to-date) increase of 24.84 per cent and had an adjusted market capitalization of C$ 8.751 b

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Royal Bank (TSX: RY) posts net profit of $4.1B in Q1. Time to buy?

Royal Bank (TSX: RY) posts net profit of $4.1B in Q1. Time to buy?

Royal Bank of Canada (TSX:RY) is gaining attention in the stock markets in the wake of its first-quarter results of fiscal 2022 being released on Thursday morning, February 24. RBC, one of the big six banks in Canada, is a dividend aristoc ...

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Why is Tilray (TSX: TLRY) stock falling despite rapid expansion?

Why is Tilray (TSX: TLRY) stock falling despite rapid expansion?

Tilray Inc (TSX: TLRY) is creating a buzz on the stock markets following some recent developments in its cannabis business. Its stocks, however, plummeted was down by about four per cent at market close on Tuesday, February 22, despite thi ...

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Organigram (TSX: OGI) jumps 6% after sharp dip: A pot stock to watch?

Organigram (TSX: OGI) jumps 6% after sharp dip: A pot stock to watch?

Highlights: Last month, Organigram released its first-quarter results and registered a 75 per cent year-over-year (YoY) growth in gross revenue. On February 15, many cannabis stocks jumped during the trading session, and OGI stock close ...

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Canopy's (TSX:WEED) Q3 revenue declines. What's in store for investors?

Canopy's (TSX:WEED) Q3 revenue declines. What's in store for investors?

Highlights: In Q3 2022, the revenues were C$ 141 million, representing a decline of eight per cent year-over-year (YoY). Some analysts had reportedly expected Canopy to clock a revenue of C$ 137 million. Canopy Growth's gross margins d ...

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Tilray (TLRY) & Canopy (WEED): TSX pot stocks to take note of right now?

Tilray (TLRY) & Canopy (WEED): TSX pot stocks to take note of right now?

The dream of cannabis legalization in the US had massively boosted Canadian pot stocks in 2020 around the time of the US presidential elections. Now, however, questions regarding its possibility seem to be hurting market sentiments. After ...

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2 TSX psychedelic stocks to trip on in February

2 TSX psychedelic stocks to trip on in February

Some Canadian pharmaceutical companies, like Numinus Wellness (TSX:NUMI) and Field Trip Health (TSX:FTRP), are said to be exploring legally approved psychedelic solutions to help people deal with different issues. A few recent studies have ...

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Canopy Growth (WEED) stock fell 72% in a year: Is it a cheap buy?

Canopy Growth (WEED) stock fell 72% in a year: Is it a cheap buy?

Canopy Growth Corporation (TSX: WEED) has been triggering some investor interest recently, despite a fall in its stock price. The pot maker is engaged in the business of cultivating, producing, and selling cannabis and hemp products for me ...

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Numinus (TSX:NUMI): A psychedelic stock to explore amid 'shroom boom'?

Numinus (TSX:NUMI): A psychedelic stock to explore amid 'shroom boom'?

Stocks of Numinus Wellness Inc (TSX: NUMI) have been noting an uptick as the psychedelic-centered healthcare company nears the release of its Q1 FY2022 results this month. NUMI stock gained by over 13 per cent on Wednesday, January 12, rec ...

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What's next for Organigram (OGI) stock as it hits 'record' Q1 revenue?

What's next for Organigram (OGI) stock as it hits 'record' Q1 revenue?

Highlights: In Q1 2022, Organigram narrowed its net loss to C$ 1.3 million from C$ 34.3 million in Q1 2021. Organigram posted net revenue of C$30.4 million in Q1 2022, a record feat for the company. Organigram expects to achieve positi ...

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Clearmind (CMND) returned 300% YTD! A psychedelic stock to trip on?

Clearmind (CMND) returned 300% YTD! A psychedelic stock to trip on?

Highlights  Clearmind Medicine strengthened its balance sheet in 2021, and for the nine months ended July 31, the company had cash of C$ 6.6 million. As psychedelic stocks are becoming popular, investors have turned their attention ...

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Frequently Asked Questions

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.

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.

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.

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.

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.

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