Cannabis Stocks

Is Canopy Growth (TSX: WEED) a cheap marijuana stock to buy?

 Is Canopy Growth (TSX: WEED) a cheap marijuana stock to buy?

Highlights Stocks of Canopy Growth plummeted by nearly 14 per cent on Friday, May 27. The cannabis company reported a 25 per cent year-over-year (YoY) decline in Q4 2022. Canopy Growth, however, shortened its net loss in the latest quarter. ...

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3 Microdosing Mushrooms Stocks To Trip On Today!

3 Microdosing Mushrooms Stocks To Trip On Today!

  • March 08, 2021 03:25 AM EST
  • Anuj

Source: sangriana, Shutterstock After years of being hidden in the dark alleys of an inaccessible world, psychedelics are now witnessing an unprecedented revival with the support of solid research. Amid the cannabis legalization spree across North ...

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Buzz & LABS: 2 Canadian Pot Stocks To Explore

Buzz & LABS: 2 Canadian Pot Stocks To Explore

Source: Lumppini, Shutterstock Summary Pharmadrug stock hit its highest point in nearly two years on February 17, at C$ 0.195. It records a year-to-date (YTD) growth of nearly 65 per cent. Canadian company MediPharm Labs recently conducted a ...

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Supreme Cannabis (Fire) & Organigram (OGI): 2 Pot Stocks to Explore

Supreme Cannabis (Fire) & Organigram (OGI): 2 Pot Stocks to Explore

Source: Handatko, Shutterstock Summary The Canadian cannabis industry contributed C$4.66 billion to the GDP. Organigram stock has returned over 136 per cent year-to-date Fire stock is up by 68 per cent in the last one month  Since ...

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High Tide (TSXV:HITI): A Canadian Growth Stock To Buy

High Tide (TSXV:HITI): A Canadian Growth Stock To Buy

  • February 24, 2021 09:22 AM EST
  • Anuj

Cannabis penny stocks have been blooming this spring season as investors get high on their bright future. With the US and Mexico likely to legalize the marijuana industry this year, these micro-cap stocks are placed at an attractive position and ha...

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HEXO & Zenabis (TSX:ZENA) Stocks Surge On Acquisition Moves

HEXO & Zenabis (TSX:ZENA) Stocks Surge On Acquisition Moves

Summary Canadian cannabis producer HEXO Corp (TSX:HEXO) is now all set to acquire peer Zenabis Global Inc (TSX:ZENA). Based on the two enterprises’ recent financials, the combined entity is also expected to make it to the list of top thre...

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Canopy (WEED) & Aphria (APHA): 2 TSX Pot Stocks To Buy Under C$55

Canopy (WEED) & Aphria (APHA): 2 TSX Pot Stocks To Buy Under C$55

Summary Commonwealth Fund Survey found that 23 per cent Canadians use cannabis, higher than international figure of 9 per cent. Aphria stocks have returned almost 200 per cent in the last three months. Canopy Growth stock is up 65 per cent in ...

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5 Canadian Cannabis Stocks To Watch This Week

5 Canadian Cannabis Stocks To Watch This Week

Canadian pot stocks have started gaining broader traction as populous nations like Mexico and the US are on course to amend their legislation for the recreational use of cannabis. Many pot firms operate in the end-to-end production of cannabis, whil...

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Canopy Rivers (TSX:RIV) Stocks 15% High: Should You Buy or Hold?

Canopy Rivers (TSX:RIV) Stocks 15% High: Should You Buy or Hold?

Summary Stocks of Canopy Rivers Inc (TSX:RIV) shot up by nearly 15 per cent on Wednesday. The Canadian company published its latest financial results earlier in the day. Canopy Rivers is currently ranked high among the trending health care sto...

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Canadian Pot Stocks See A GameStop Moment, Tilray & Sundial Rally

Canadian Pot Stocks See A GameStop Moment, Tilray & Sundial Rally

  Investors are experiencing another GameStop moment this week after sub-reddit r/wallstreetbets turned their attention to pot stocks. As per real time stock-tracking platform Swaggy Stocks, the Reddit rangers are now getting bullish on cann...

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Big Pot Firms Canopy & Aphria Push Up TSX Healthcare Sector's MCap

Big Pot Firms Canopy & Aphria Push Up TSX Healthcare Sector's MCap

Summary Canopy Growth Corporation and Aphria now account for more than 67 per cent of the S&P/TSX Capped Health Care Index’s top 10 companies, representing an extraordinary rally. Aphria’s stock is up 253 per cent this year comp...

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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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