Three pot stocks to explore as industry gets high on demand

Summary

• Cronos Group Inc (Nasdaq: CRON) reported revenue of US$15.62 million in Q2 this year.
• Village Farms International, Inc.’s (Nasdaq: VFF) market cap is US$792 million.
• Tilray Inc (Nasdaq: TLRY) reported a net loss of US$367.4 million in Q2 this year.

Cannabis stocks are companies that are into research and development and sale of cannabis products. In addition, the companies that support operations related to the marijuana industry also fall in this category.

On July 14, three Democratic senators had unveiled a draft bill to legalize marijuana at the federal level. The bill, if passed, will remove cannabis from the federal banned substance list. Besides, marijuana companies would be able to access bank services like loans, account opening, tax deductions, etc.

Eighteen states have already legalized cannabis for recreational use and 37 states for medical purposes.

Here we look at the marijuana stocks that may benefit from the move.

Source: Pixabay.

Also read: Top pot stocks to explore as US cannabis market booms

Cronos Group Inc (Nasdaq: CRON)

The stock of this cannabinoid company traded at US$7.09 at 12.35 pm ET on August 10, down 1.66 percent from the closing price of August 9. The stock value of CRON went up by 0.45 percent YTD.

The market capitalization of the Canada-based company is US$2.6 billion. The forward P/E one year is -24.90. The earnings per share (EPS) is US$-0.41. The highest and lowest stock price of the cannabis research company for 52 weeks is US$15.83 and US$4.92. The share volume is 888,710.

The total revenue of the pharmaceutical company for Q2 was US$15.62 million against US$9.88 million of Q2 last year. The net income for the period was US$57.05 against a net loss of US$106.98 million in Q2 last year.

Village Farms International, Inc. (Nasdaq: VFF)

The stock was priced at US$9.73 at 12.48 pm ET on August 10, down 2.01 percent from the previous close. The stock declined 4.65 percent YTD.

The total revenue of this Canada-based company for Q2 was US$70.37 million versus US$47.57 million of Q2 last year. The net loss in Q2 this year was US$4.52 million against a loss of US$0.12 million in Q2 last year.

The market cap of VFF is US$792 million. The forward P/E one year is -198.60, and the EPS is US$-0.04. The highest and lowest stock price of the company for the last 52 weeks was US$20.32 and US$4.27. Its share volume is 370,670.

Also read: 5 hot marijuana stocks to watch

Jazz Pharmaceuticals plc (Nasdaq: JAZZ)

The stock of cannabis-based drugmaker was priced at US$144.98 at 12.56 pm ET on August 10, down 3.97 percent from the closing price of August 9. The stock value of JAZZ went down by 12.52 percent YTD.

The total revenue of the Ireland-based firm in the second quarter this year was US$751 million compared to US$562 million in Q2 last year. Its net loss was US$363.3 million against a net income of US$114.8 million in Q2 last year.

The market capitalization of this pharmaceutical company is US$8.8 billion. The P/E ratio is 152.05 and the forward P/E one year is 12.74. The EPS is US$0.95. The 52-week highest and the lowest stock price of JAZZ was US$189 and US$119.08. The share volume is 566,800.

Tilray Inc (Nasdaq: TLRY)

The stock of this cannabis company traded at US$14.62 at 1.07 pm ET on August 10, down 0.68 percent from the closing price of August 9. The stock value of TLRY surged by 76.85 percent YTD.

The total revenue of the cannabis medical research company for Q2 this year was US$513.1 million against US$50.4 million in Q2 last year. The net loss was US$367.4 million compared to a loss of US$81.7 million last year.

The market capitalization of the Canada-based company is US$6.5 billion. The forward P/E one year is -105.07, and the EPS is US$-1.87.

The highest and lowest stock price of TLRY for the last 52 weeks is US$67 and US$4.41. The share volume is 9,485,090.