- July 19, 2022 02:01 AM EDT
- Kajal Jain
- July 01, 2022 06:52 AM EDT
- Kajal Jain
Royal Bank (TSX: RY) posts net profit of $4.1B in Q1. Time to buy?
- February 24, 2022 09:18 AM EST | Kajal Jain
Royal Bank of Canada (TSX:RY) is gaining attention in the stock markets in the wake of its first-quarter results of fiscal 2022 being released on Thursday morning, February 24. RBC, one of the big six banks in Canada, is a dividend aristoc ...Read More...
Why is Tilray (TSX: TLRY) stock falling despite rapid expansion?
- February 23, 2022 11:33 AM EST | Kajal Jain
Tilray Inc (TSX: TLRY) is creating a buzz on the stock markets following some recent developments in its cannabis business. Its stocks, however, plummeted was down by about four per cent at market close on Tuesday, February 22, despite thi ...Read More...
Organigram (TSX: OGI) jumps 6% after sharp dip: A pot stock to watch?
- February 16, 2022 09:47 AM EST | Raza Naqvi
Highlights: Last month, Organigram released its first-quarter results and registered a 75 per cent year-over-year (YoY) growth in gross revenue. On February 15, many cannabis stocks jumped during the trading session, and OGI stock close ...Read More...
Canopy's (TSX:WEED) Q3 revenue declines. What's in store for investors?
- February 09, 2022 10:12 AM EST | Raza Naqvi
Highlights: In Q3 2022, the revenues were C$ 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 ...Read More...
Tilray (TLRY) & Canopy (WEED): TSX pot stocks to take note of right now?
- February 08, 2022 09:02 AM EST | Kajal Jain
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 ...Read More...
2 TSX psychedelic stocks to trip on in February
- January 31, 2022 09:10 AM EST | Kajal Jain
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 ...Read More...
Canopy Growth (WEED) stock fell 72% in a year: Is it a cheap buy?
- January 15, 2022 12:27 AM EST | Kajal Jain
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 ...Read More...
Numinus (TSX:NUMI): A psychedelic stock to explore amid 'shroom boom'?
- January 13, 2022 09:47 AM EST | Kajal Jain
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 ...Read More...
What's next for Organigram (OGI) stock as it hits 'record' Q1 revenue?
- January 11, 2022 09:19 AM EST | Raza Naqvi
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$30.4 million in Q1 2022, a record feat for the company. Organigram expects to achieve positi ...Read More...
Clearmind (CMND) returned 300% YTD! A psychedelic stock to trip on?
- December 03, 2021 06:21 AM EST | Raza Naqvi
Highlights Clearmind Medicine strengthened its balance sheet in 2021, and for the nine months ended July 31, the company had cash of C$ 6.6 million. As psychedelic stocks are becoming popular, investors have turned their attention ...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.