Investing In Marijuana Stocks July 2021
Are you looking for top marijuana stocks to invest in this summer? For the most part, cannabis stocks are moving higher in the market after seeing some steep declines last week and on Monday. Now after regaining some of the market value pot stocks could continue seeing upside in July. In 2021 the cannabis sector has seen its share of the volatility after setting new highs in February most cannabis stocks have been trading near their lowest price points in 2021. After several months of consolidation, this could be time to find the best marijuana stocks to buy right now.
One area that could present some upward momentum for investors in Canadian cannabis stocks to watch. Ultimately the Canadian cannabis sector has seen the most volatility in 2021. This is partly due to investors believing federal cannabis legalization would take place earlier this year. Recently the unveiling of a draft of the Cannabis Administration and Opportunity Act by Chuck Schumer has brought federal cannabis reform back in focus.
Although currently, Schumer does not have enough votes to get the bill passed the unveiling will serve the purpose of getting support from stakeholders. Other possible catalysts that could push marijuana stocks higher are the second quarter and fiscal earnings. With some leading Canadian companies scheduled to report earnings later this month, we could see some momentum with strong growth.
Canadian Marijuana Stocks In 2021
Initially, some Canadian marijuana stocks also doubled as meme stocks and became some of the favorites of Reddit and Robinhood investors. This also increased the volatility seen in this area of pot stocks. Now with earnings around the corner, some investors are looking for the best cannabis stock to invest in for the summer. It’s important for investors to always do their due diligence before investing. Researching a company’s financial results and watching how the stock performs in the market can help you establish the best entry for your position.
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With this in mind, we can start researching some of the top marijuana stocks to buy in July. Since the Canadian cannabis sector is trading lower investors could produce returns from current trading levels. Adding these cannabis stocks to your watchlist this week could help you find the most value in the market. As the market continues to recover these 2 top Canadian marijuana stocks should be on your radar.
Top Canadian Marijuana Stocks To Watch Right Now
- 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. Since announcing, one of the biggest M&As in Canada, Tilray and Aphria Inc. could become one of the largest revenues producing Canadian cannabis companies worldwide. Consequently, Tilray missed its earnings estimates and took a significant hit in market value following February highs. But Tilray is positioning itself to enter the US market and is also expanding its international presence.
In July the company completed its first harvest and delivery of medical cannabis grown in Germany. This marks the first is the first cultivated at Tilray’s state-of-the-art 6000 square meters grow facility 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. Currently trading much lower than its February highs TLRY stock could see some upside this summer.
TLRY stock closed at $14.60 on July 21st up 76.76% year to date. In February TLRY reached a high of $67 and has declined by 15.95% in the last 30 days. According to analysts at Tip Ranks TLRY stock has a 12-month average price target of $20.69 per share. This would represent an upside of 41.71% from its last trading price of $14.60. For this reason, TLRY stock is a top Canadian marijuana stock to add to your watchlist before August.
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Aurora Cannabis Inc.
Once the pillar of the Canadian cannabis market Aurora Cannabis Inc. is a company that produces and distributes medical cannabis products globally. In its latest earnings report, Aurora announced its fiscal 2021 second-quarter financials with total cannabis net revenue of $70.3 million an increase of 11% versus Q2 2020. The company attributes revenue growth to high margin international medical sales that are up 562% from the year before.
In May Aurora announced its third-quarter fiscal 2021 results with domestic medical net revenue at $26.9 million. Additionally, the company had strong international medical revenue of $9.4 million. For the third quarter of fiscal 2021, the company has total cannabis net revenue of $58.4 million. Recently the company announced its entry into the US market through the acquisition of Reliva a CBD producing company in America. In June Aurora expanded its San Rafael ’71 portfolio with the launch of 3 new proprietary cultivars. On July 15th the company delivered an $8 million shipment of cannabis to Israel.
ACB stock closed at $7.52 on July 21st down 9.51% year to date. In February ACB stock reached a high of $18.98 and has dropped 32.68% in the last 6 months. According to analysts at CNN Business, ACB stock has a 12-month median price target of $6.54 per share. This would represent a decline of 13.04% from its last trading price. With this in mind, ACB stock could be a Canadian cannabis stock to watch for a short position in the market.
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