Best Weed Stocks in Canada

When searching for the best weed stocks in Canada, there are many options available to you. Some of the most popular ones include Canopy Growth, Tilray Cannabis, Aurora Cannabis, and Sundial. All of these stocks have potential to grow in the coming years. In addition, these stocks are relatively inexpensive.

Canopy Growth

Canopy Growth Corporation (NYSE: CGC) is considered Canada's first unicorn in the pot industry. It sells its products under several brand names, with Tweed being the most popular thanks to its association with rapper Snoop Dogg. The company is also a leader in greenhouse growing and recently began trading on the New York Stock Exchange. Its greenhouse facility has received EU GMP certification, which will help it export medical marijuana to countries that require this certification.

The Canadian marijuana industry has experienced a rough patch of late. The company has been trying to reduce its debt, cut costs, and hold onto its market share. It has also been trying to expand into the U.S. by acquiring several US cannabis companies. Recently, it purchased Acreage Holdings, Wana Brands, and Jetty Extracts. It also began selling cannabis-infused edibles from Martha Stewart, as well as launching CBD-infused products.

Aurora Cannabis

While stocks in cannabis companies may seem like a risky bet, they can offer a great opportunity for investors looking to profit from this industry. First of all, you should look for companies that are listed on reputable stock exchanges. This is especially important if you plan to invest in a marijuana company. A company that is not traded on a reputable exchange is unlikely to have good financial results in the long run.

Aurora Cannabis reported third-quarter fiscal 2022 results on May 12. Revenue rose eight percent, while its net sales increased eight percent compared to the year-earlier quarter. Still, cannabis sales declined 17 percent compared to the second quarter. Despite this, Aurora Cannabis maintains a solid balance sheet and has already repurchased nearly $140 million of its convertible notes.

Sundial

Sundial Growers, formerly known as Sundial, is a pot and cannabis distributor in Canada with over 354 retail locations. Recently, it rebranded as SNDL and raised its price target from neutral to speculative buy. Canaccord Genuity analyst Shaan Mir raised the stock's price target to $5 per share, which is a 100% upside from its current price. The company also recently reported strong revenue results, mainly driven by liquor and cannabis retail sales.

Since legalization, weed stocks have been outpacing the Canadian market. Canada became the first G7 member state to legalize marijuana, and the country has a population of about 31 million people. In contrast, the U.S. adult population has more than two-and-a-half times more people. That means the Canadian marijuana stock market may have the best prospects for a secular bull market.

Are you looking for mail order marijuana in Canada? If you are, you might be interested in going to thegrowhouse for several of the best deals around.