Cannabis Stocks In Q4 2021
Are you looking for ways to invest in top marijuana stocks in 2021? This year the cannabis sector rallied in the first quarter establishing highs in February for many of the best cannabis stocks. Now after months of waiting for Congress to change federal policy on marijuana the top pot stocks have reached some of the lowest trading levels in October. But recent actions in Congress could signal a renewed push toward legalization.
One area of the cannabis sector that could see some upside after federal marijuana legalization is top Canadian marijuana stocks in 2021. For the most part, Canadian cannabis companies could enter the US cannabis industry once Congress changes federal policy. For years Canadian companies have been planning to enter the US market with mergers and acquisitions and partnerships with American companies. In addition,
Canadian cannabis companies have also established themselves in an international market and have a presence in many leading cannabis markets overseas. In 2021 cannabis investors are seeing some growth in the Canadian cannabis industry as well. As the demand grows in the Canadian market and new dispensaries are licensed the Canadian industry has made some advances in 2021. Unfortunately, some of the leading Canadian companies have not performed as well as US cannabis companies.
Understanding How To Trade Pot Stocks In 2021
Before investing in cannabis stocks, it’s important to research a company thoroughly to find the best companies in the sector. Watching how a stock moves in the market is also essential to establishing a good position in a top pot stock. In 2021 the best Canadian cannabis stocks to buy have seen substantial market volatility. After rallying in Q1 and seeing the most gains in the market Canadian pot stocks have also experienced the steepest declines. Because of this volatility, many investors are showing interest in top marijuana stocks for short-term gains.
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As Congress begins to work out the details of marijuana legalization in the Senate there is a much better chance, we will see some type of cannabis reform in the next six months. This could be an opportunity for investors to establish positions in top Canadian cannabis stocks before they enter the US cannabis market. Let’s look at 2 of the best Canadian marijuana stocks for your list going into next week.
Top Canadian Marijuana Stocks In 2021
- Tilray, Inc. (NASDAQ: TLRY)
- Aurora Cannabis Inc. (NASDAQ: ACB)
Tilray, Inc.
At the present time, Tilray, Inc. is a leading global cannabis consumer packaged goods company with operations in Canada, the US, Europe, Australia, and Latin America. In 2021 the company has undergone a merger in the Canadian market to become one of the largest revenues producing cannabis companies in the world. Specifically, Tilray is positioning itself to enter the US market and is also expanding its international presence. Recently, Tilray completed its first harvest and delivery of medical cannabis grown in Germany. In addition, the company has established CBD products and infused beverages that could be large revenue producers across the Canadian and American markets.
On October 20th Tilray signed a distribution agreement with Great North Distributors to drive more adult cannabis sales across Canada. In August Tilray acquired a majority position in MedMen convertible notes also a move to enter the US cannabis market. Tilray reported its 2021 fiscal year and Q4 results with net revenue up 27% year over year to $513 million. To highlight, the company produced a net income of $33.6 million and adjusted EBITDA of $12.3 million. As a result, Tilray increased its revenue by 55% in Q4 and holds the #1 share in Canada.
TLRY stock closed on October 21st at $11.56 up 12.63% in the past five trading days. Currently, the stock has a 52-week price range of $5.25-$67.00 and is up 3.21% in 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, this would be an upside of 27.20% from its last trading 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 producing company. In addition, Aurora also expanded its San Rafael ’71 portfolio with the launch of 3 new proprietary cultivars. In July, the company delivered an $8 million shipment of cannabis to Israel. Primarily, the company is working on restructuring its balance sheet. Additionally, it has fulfilled the inaugural shipment to the French medical cannabis pilot program.
Aurora announced its fiscal 2021 fourth-quarter results with total cannabis net revenue of $54.8 million. The company’s balance sheet remains strong with $440.9 million in cash as of June. This is an improvement of $404.3 million year over year. Additionally, the company has an adjusted EBITDA loss of $13.9 million an improvement of $17.6 million from the prior year. Aurora is the #1 Canadian LP in the global medical cannabis market and its business transformation plan is on track.
ACB stock closed on October 21st at $7.37 up 24.96% in the past month. At the present time, the stock has a 52-week price range of $3.71-$18.98 and is down 7.82% year to date. According to analysts at CNN Business, ACB stock has a 12-month median price target of $5.51 per share. As it stands this would be a decline of 25.22% from its current trading price of $7.37.
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