2 Best Canadian Marijuana Stocks for Your October Watch List
Cannabis stocks in the fourth quarter of 2021
Are you looking for ways to invest in the best marijuana stocks in 2021? This year, the cannabis sector rallied in the first quarter, setting highs in February for many of the best cannabis stocks. Now, after months of waiting for Congress to change federal marijuana policy, top cannabis stocks have hit some of the lowest trading levels in October. But recent actions in Congress could signal a new push towards legalization.
Marijuanastocks.com – MarijuanaStocks
One area of ââthe cannabis industry that could see some uptick following the federal legalization of marijuana is the major stocks of marijuana in Canada in 2021. For the most part, Canadian cannabis companies could enter the US cannabis industry sooner or later. after Congress changes federal policy. For years, Canadian companies have considered entering the US market through mergers and acquisitions and partnerships with US companies. Besides,
Canadian cannabis companies have also established themselves in an international market and have a presence in many of the leading cannabis markets overseas. In 2021, cannabis investors are also seeing some growth in the Canadian cannabis industry. As demand increases in the Canadian market and new dispensaries are licensed, Canadian industry has made some headway in 2021. Unfortunately, some of the top Canadian companies have not performed as well as American cannabis companies.
Understanding How to Trade Potted Stocks in 2021
Before investing in cannabis stocks, it is important to do a thorough research on a company to find the best companies in the industry. Watching how a stock moves in the market is also essential to establishing a good position in one of the best stocks in the pot. In 2021, the best Canadian cannabis stocks to buy experienced considerable market volatility. After rebounding in the first quarter and posting the most gains in the market, Canadian potted stocks also suffered the biggest declines. Because of this volatility, many investors are interested in the best marijuana stocks for short-term gains.
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As Congress begins to work on the details of legalizing marijuana in the Senate, there’s a much better chance we’ll see some sort of cannabis reform over the next six months. This could be an opportunity for investors to establish positions in major Canadian cannabis stocks before entering the US cannabis market. Let’s take a look at 2 of the best Canadian marijuana stocks for your list starting next week.
Best stocks of marijuana in Canada in 2021
- Tilray, Inc. (NASDAQ: TLRY)
- Aurora Cannabis Inc. (NASDAQ: ACB)
Currently, Tilray, Inc. is a leading global consumer packaged cannabis product companies with operations in Canada, United States, Europe, Australia and Latin America. In 2021, the company merged into the Canadian market to become one of the largest cannabis companies in the world. More specifically, Tilray is positioning itself to enter the American market and is also expanding its international presence. Recently Tilray completed its first harvest and delivery of medical cannabis grown in Germany. Additionally, the company has introduced CBD products and infused drinks that could be big revenue producers in the Canadian and US markets.
October 20e Tilray signed a distribution agreement with Great North Distributors to increase sales of adult cannabis across Canada. In August, Tilray acquired a controlling position in MedMen convertible notes, also with the aim of entering the US cannabis market. Tilray has released its results for fiscal 2021 and the fourth quarter with net sales up 27% year-over-year to $ 513 million. To emphasize, the company produced net income of $ 33.6 million and Adjusted EBITDA of $ 12.3 million. As a result, Tilray increased its sales by 55% in the fourth quarter and holds the number one spot in Canada.
TLRY share closed on October 21st at $ 11.56, up 12.63% over the past five trading days. Currently, the stock has a 52-week price range of $ 5.25 to $ 67.00 and has risen 3.21% over the past month. According to analysts at Tip Ranks, TLRY stock has a 12-month average price target of $ 14.73 per share. In this case, it would be a rise of 27.20% from its last price of $ 11.58.
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Aurora Cannabis Inc.
Next on this list is Aurora Cannabis Inc., another Canadian company that produces and distributes medical cannabis products globally. Recently, the company announced its entry into the US market through the acquisition of Reliva, a CBD producer company. In addition, Aurora has also expanded its San Rafael ’71 portfolio with the launch of 3 new exclusive cultivars. In July, the company delivered an $ 8 million shipment of cannabis to Israel. The company is mainly working on restructuring its balance sheet. In addition, he completed the inaugural expedition of the French pilot medical cannabis program.
Aurora announced its results for the fourth quarter of fiscal 2021 with total net cannabis revenue of $ 54.8 million. The company’s balance sheet remains strong with $ 440.9 million in cash in June. This is a year-over-year improvement of $ 404.3 million. In addition, the company has an Adjusted EBITDA loss of $ 13.9 million, an improvement of $ 17.6 million from the previous year. Aurora is the first Canadian LP in the global medical cannabis market and its business transformation plan is on track.
Closing of the ACB title on October 21st to $ 7.37, up 24.96% last month. Right now, the stock has a 52-week price range of $ 3.71 to $ 18.98 and is down 7.82% year-to-date. According to CNN Business analysts, ACB stock has a 12-month median price target of $ 5.51 per share. As it stands, that would be a 25.22% drop from its current price of $ 7.37.
[Read More] 3 Best Canadian Marijuana Stocks for Your Watchlist in 2021