The Canadian marijuana stock market has struck more appeal from investors over the last year. Canada’s medical marijuana market is forecasted to be worth $1.1 billion Canadian dollars by 2020 with nation legalization projected for mid-2018 the combined market is estimated to be valued $2.8 billion. Most marijuana stocks are reporting average gains of 100% in the past year; here are a few marijuana stocks that are in the spotlight.
Canopy Growth Corporation (TWMJF) is a marijuana producer and the largest marijuana stock in terms of market cap at nearly $2.18 billion. (TWMJF) announced its game changing $191 million-dollar deal giving the S&P 500 maker of Corona, Constellation Brands, a 9.9 percent stake into TWMJF. The companies are the in the industry to plan and sell marijuana-infused beverages.
“We are thrilled to have the backing of such a well-established and respected organization such as Constellation Brands,” said Bruce Linton Chief Executive Officer of Canopy Growth. Adding, “We look forward to working with the Constellation Brands team to access their deep knowledge and experience in growing brands as we continue to expand our business”.
Prior to the deal, (TWMJF)’s stock closed at $9.99 on October 27th and since has seen major spikes in volume and highs of $13.24 gaining a solid 32.53 percent in just a few days.
Medreleaf Corp. (MEDFF) is first and only ICH-GMP and ISO 9001 certified marijuana producer in North America. (MEDFF) has seen its stock climb nearly 50% since the launch of the first topical marijuana cream in the country on October 4th.
“Our product development team has devised a method to provide Canadian patients with a much sought-after, high-absorption, topical cream that is within the strict limitations afforded by the current regulations,” said Neil Closner, CEO of MedReleaf. “This is further evidence of MedReleaf’s continued leadership in setting the standard for product innovation and focus on the patient experience.”
Over the last month, (MEDFF) has soared 46.41 percent from the open of $7.39 on October 2nd to the high on November 3rd of $10.82. Just this week the marijuana stock’s price has shown an increase of 20% from the close on Friday of $8.97 to the following week’s highs of $10.82.
Aurora Cannabis Inc. (ACBFF) trading volume tripled after receiving its cultivation license on October 30th from Health Canada for its second growing facility meet the needs of the anticipated product demands and plans to export its products into Europe.
Dieter MacPherson, VP Production, stated, “Aurora Vie will deliver significant improvements in harvest frequency and yield per plant, setting new benchmarks for large-scale production. As planned, the facility was completed utilizing materials, workflow, technologies and design to easily and quickly obtain EU GMP certification. As a result, we anticipate applying for the necessary permits to supply the rapidly-growing German medical cannabis market, as well as additional future European markets, via exports from Aurora Vie through our European subsidiary Pedanios.”
The marijuana stock’s volume went from 421,000 on October 29th to 1.25 million the following day, seeing a 9.82% increase over the last month.