Cannabis Stocks

WEED, HEXO, TLRY, OGI & ACB: 5 TSX cannabis stocks for retail investors

 WEED, HEXO, TLRY, OGI & ACB: 5 TSX cannabis stocks for retail investors

Highlights Canada has some interesting cannabis stocks that are some of the biggest of its healthcare sector The idea with marijuana stocks might be to think long-term Its legalization at the federal level in the US seems inevitable and some E...

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Canopy Growth: Is there more room for growth in WEED stock?

Canopy Growth: Is there more room for growth in WEED stock?

Stocks of Canopy Growth Corporation (TSX: WEED) closed at C$24.93 on Thursday, July 22, down nearly 3 per cent. The stock is nearly 65 per cent below its 52-week high of C$ 71.70 (February 10, 2021) and nearly 36 per cent above its 52-week low of C$...

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6 Canadian pot stocks to buy that can grow like a weed

6 Canadian pot stocks to buy that can grow like a weed

Summary The 2018 legalization of recreational cannabis in Canada saw pot producers in the country note a massive boom in their businesses. Now, with the US looking at a federal legalization of adult recreational marijuana use, pot manufacturers...

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Canadian pot stocks wibble-wobble as US moves closer to legalize weed

Canadian pot stocks wibble-wobble as US moves closer to legalize weed

  • July 14, 2021 11:16 AM EDT
  • Anuj

Summary The US government floated the draft bill to legalize recreational marijuana federally on July 14. Meanwhile, Canadian pot stocks have responded disproportionately. Tilray’s stock was up almost two per cent intraday. In contrast, ...

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Top 10 cannabis stocks to buy in 2021

Top 10 cannabis stocks to buy in 2021

Canada’s cannabis market is among the top performing ones in the country, having recorded sales worth around C$ 2.6 billion in 2020. The pandemic, which wrecked operations for most businesses, saw cannabis sales fly in the country last year as...

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Can investors 'fly high' with NUMI stock in future?

Can investors 'fly high' with NUMI stock in future?

Numinus Wellness Inc. (TSXV:NUMI) Numinus Wellness Inc. (TSXV:NUMI) is set to acquire the Neurology Centre of Toronto (NCT) and expand the centre into a clinical neurology treatment centre, the company announced on Tuesday, July 6. Numinus is a...

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Best psychedelic stocks to explore in Canada

Best psychedelic stocks to explore in Canada

The growing enthusiasm around psychedelic drugs as a treatment for mental illness is likely to bring a massive change in this evolving sector. Amid an expanding wave of research studies, people are becoming more aware of the benefits of these drugs a...

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MindMed (MNMD) & 3 more psychedelics stocks to trip on in 2021

MindMed (MNMD) & 3 more psychedelics stocks to trip on in 2021

Psychedelics have evolved over the years and now they are being considered as a potential tool to treat mental illness and addiction issues. The entire psychedelics industry is under the spotlight in North America amid increased acceptance and growi...

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Atai Life Sciences IPO: How To Buy This Psychedelic Stock?

Atai Life Sciences IPO: How To Buy This Psychedelic Stock?

The psychedelics industry has witnessed quite a boom in the past few years, and this uptrend is likely to continue. This rise in popularity is boosted by several studies that note the health benefits of psychedelic drugs. Amid the increasing popular...

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Hexo (TSX:HEXO) stock tumbles over 6%: Buy or Sell?

Hexo (TSX:HEXO) stock tumbles over 6%: Buy or Sell?

  • June 14, 2021 11:09 AM EDT
  • Anuj

Stocks of Hexo Corp. (TSX:HEXO), a cannabis goods retailer, dropped over six per cent in the opening trading hour (9:32 am EST) of Monday, June 14, after the company posted lower-than-expected third-quarter earnings.  The pot company's non-beve...

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3 Psychedelic Stocks To Trip On in 2021

3 Psychedelic Stocks To Trip On in 2021

When investors in Canada made early inroads into cannabis stocks, who would have thought that returns could be so high. Just in case you failed to capitalize on them, do not worry as psychedelic stocks seem embarking on a similar trajectory. Regulat...

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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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