Top Canadian Marijuana Stocks In The Cannabis Industry
Looking for the best marijuana stocks to buy in 2023? It’s crucial to consider the risks associated with the cannabis industry. For example things like regulatory uncertainties, legal changes, and market volatility. As well as operational challenges. Also stay updated with industry news, tracking relevant sources, and monitoring regulatory updates.
Especially those that may impact how a cannabis stock may perform. When you can acquire as much information about the industry and the companies it gives a better confidence when investing. So far 2023 has been one of more volatile trading. Mainly do the battle of enacting better reform. Most marijuana stock investors have seen more downside. Yet as the industry is still evolving more investment opportunities could be on the horizon.
Right now many are waiting to see what companies will report with earnings on the way. Often when a company can report positive financials it can help see a potential rise in momentum. For now, with a lack of federal reform much of the investing is in the future of the sector. That is why many see marijuana stocks as more of a long-term investment. Now when there is a recovery it is best to take profits as you can. The companies mentioned below are several marijuana stocks to watch in 2023.
Top Marijuana Stocks To Watch 2023
- Neptune Wellness Solutions Inc. (NASDAQ:NEPT)
- Aurora Cannabis Inc. (NASDAQ:ACB)
- Canopy Growth Corporation (NASDAQ:CGC)
Neptune Wellness Solutions Inc.
Neptune Wellness Solutions Inc. operates as a consumer packaged goods company in Canada, the United States, and internationally. In recent news, the company announced the receipt of the NASDAQ notification. As reported in its recent Annual Report on Form 10-K, the Company does not meet the minimum stockholders’ equity requirement for continued listing on the Nasdaq Capital Market under the equity criteria under Nasdaq Listing Rule 5550(b)(1)
stating listed companies must maintain stockholders’ equity of at least $2,500,000. The Nasdaq notification letter has no immediate effect on the Company’s business operations or the listing of the Company’s common shares. So the company will continue to trade on the Nasdaq Capital Market under the symbol “NEPT”.
Aurora Cannabis Inc.
Aurora Cannabis Inc. together with its subsidiaries, produces, distributes, and sells cannabis and cannabis-derivative products in Canada and internationally. It operates through three segments: Canadian Cannabis, European Cannabis, and Plant Propagation. On July 24th the company announced the sale of the Aurora Sun facility to Bevo expected to provide incremental revenue and cash flow.
Aurora has a controlling interest in Bevo, one of the largest suppliers of propagated vegetables and ornamental plants in North America. Up to $15 million could be payable over time by Bevo Farms to Aurora in connection with the Aurora Sun Transaction, based on Bevo Farms successfully achieving certain financial milestones at the Aurora Sun Facility.
Words From The Company
“I am pleased that this transaction will achieve the dual objectives of improving Aurora’s cash flow while benefitting Bevo as they proceed with the expansion of their business,” said Aurora’s CEO Miguel Martin. “Bevo has successfully repurposed the Aurora Sky facility in Edmonton, and we’re excited to further support their continued growth. Bevo’s acquisition of the Aurora Sun facility further demonstrates the close synergies between our companies and the value that our partnership creates for shareholders.”
Canopy Growth Corporation
Canopy Growth Corporation together with its subsidiaries, engages in the production, distribution, and sale of cannabis and hemp-based products for recreational and medical purposes primarily in Canada, the United States, and Germany.
Recently the company congratulated Wanna and Jetty on its entry into new state-level markets.
Words From The CEO
“Wana and Jetty are category leaders in edibles and solventless vape and we’re proud of their ongoing expansion to deliver high-quality products to consumers across two new states,” said David Klein, CEO, of Canopy Growth. “Canopy USA’s ecosystem of companies continues to demonstrate their capabilities for strategic growth into new and opportunistic state-level markets across the U.S. and in parallel, we remain focused on bringing their winning IP north to Canada as Canopy advances our North American brand-driven strategy.”
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