Canadian Cannabis Stocks Worth Tracking This September
We’re glad you’re here to learn about this week’s top marijuana stocks, poised to see significant increases in September 2023. As the cannabis industry evolves, savvy investors seek opportunities while considering risk. This study combines technical analysis with lessons from the rapidly expanding cannabis industries in the United States and Canada.
The cannabis stock landscape necessitates care, emphasizing risk management techniques to limit potential losses. Investors can maximize gains by defining fixed entry and exit points while avoiding market volatility. Furthermore, extensive research and being current on market trends are essential for making informed decisions.
Technical analysis further enhances investment strategies by evaluating price patterns, trends, and market sentiment. Moving averages, chart patterns, and crucial support and resistance levels might provide significant hints into predicted market movements as August proceeds. When combined with an in-depth understanding of the cannabis sector, this data enables investors to navigate the turbulent market with greater confidence.
Regulatory developments and increased acceptance fuel expansion in the cannabis industry in the United States and Canada. Legalization developments, product enhancements, and rising market penetration can all contribute to significant volatility in these securities. Stay tuned for an in-depth exploration of this week’s incredible possibilities with Canadian cannabis stocks.
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Potential Profits: Canadian Cannabis Stocks to Follow in September 2023
- Tilray Brands, Inc. (NASDAQ: TLRY)
- Village Farms International, Inc. (NASDAQ: VFF)
- Canopy Growth Corporation (NASDAQ: CGC)
Tilray, Inc.
Tilray, Inc. is a cannabis consumer packaged goods (CPG) corporation with operations in South America, Europe, Australia, and the United States. The company has established itself as one of the world’s most successful cannabis enterprises due to its dominance in the Canadian market. Tilray has increased its presence in the United States. Tilray was Germany’s first company to cultivate and sell medical marijuana. According to the company, CBD-infused meals and beverages are particularly popular in the US and Canadian markets. The 2021 deal between Tilray and Great North Distributors aims to speed the expansion of Canada’s legal marijuana market.
Financial Highlights – 2023 Fiscal Fourth Quarter
- Record Q4 Net Revenue of $184 Million, Representing 20% Growth Year over Year, $627 Million of Net Revenue for FY2023; On a Constant Currency Basis, FY2023 Net Revenue Grew 6% to $668 Million
- $8 Million of Net Cash from Operating Activities Generated for FY2023 Achieved Nearly $200 Million Improvement in Adjusted Free Cash Flow Compared to FY2022
- Increased Tilray’s #1 Cannabis Market Share Position in Canada to 13% with HEXO Acquisition and Substantially Grew Medical Cannabis Market Position Across Europe
Fiscal Year 2024 Guidance
For its fiscal year ended May 31, 2024, the Company expects to achieve adjusted EBITDA targets of $68 million to $78 million, representing growth of 11% to 27% as compared to fiscal year 2023. In addition, the Company expects to generate positive adjusted free cash flow.
TLRY Stock Performance
On September 5th, the shares of TLRY closed at $3.09, up 34.35% in the past month of trading. The 52-week price range for the stock is $1.50-$5.12 and is up 14.87% year to date. According to CNN Business experts, TLRY stock has a 12-month consensus price objective of $2.38 per share. This represents a 23.14 percent decrease over the last trading price of $3.09.
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Village Farms International, Inc.
Village Farms International, Inc. and its subsidiaries grow, sell, and distribute greenhouse-grown cucumbers, bell peppers, and tomatoes throughout North America. The company also includes CBD and cannabis-related operations in the United States and Canada. Pure Sunfarms, a completely owned subsidiary of Village Farms, is one of North America’s largest cannabis businesses. Pure Sunfarms has a Delta 2 greenhouse with a cannabis growing license, doubling its output capacity. Village Farms developed a new website and logo last year at www.villagefarms.com.
Second Quarter Financial Highlights
(All comparable periods are for the second quarter of 2022 unless otherwise stated.)
Consolidated
- Consolidated sales decreased (7%) year-over-year to $77.2 million from $82.9 million;
- Operating loss before tax improved to ($42 thousand) compared with an operating loss before tax of ($43.8 million);
- Consolidated net loss improved to ($1.4 million), or ($0.01) per share, compared with ($36.6 million), or ($0.41) per share; and,
- Consolidated adjusted EBITDA (a non-GAAP measure) improved to $4.5 million from negative ($10.3 million).
- Canadian Cannabis (Pure Sunfarms and Rose LifeScience)
- Net sales decreased (6%) to $28.1 million (C$37.7 million) from $29.8 million (C$38.0 million) (a decrease of (1%) in Canadian dollars);
- Retail branded sales increased 24% (in Canadian dollars);
- International (export) sales increased by 217% (in Canadian dollars);
- Gross margin was 38%;
- Net income was $1.2 million (C$1.7 million) compared with net income of $1.8 million (C$2.3 million); and,
- Adjusted EBITDA increased 78% to $4.8 million (C$6.7 million) from $2.7 million (C$3.4 million) (an increase of 97% on a constant currency basis).
VFF Stock Performance
VFF stock closed at $0.9359 on September 5th, up 67.04% in the last month of trading. The stock has a 52-week price range of $0.5550-$2.62 and is down 30.16% year to date. According to analysts at CNN Business, VFF stock has a 12-month median price target of $1.75 per share. In this case, this would represent an upside of 86.99%.
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Canopy Growth Corporation
Canopy Growth is a well-known Canadian cannabis and cannabis-derived product company. The main markets for the company’s hemp- and cannabis-based goods are the United States, Canada, and Germany. In the United States, Canopy and Southern Glazers Wine & Spirits will begin selling CBD-infused alcoholic beverages in 2021. Canopy purchased Supreme Cannabis Company, Inc., a premium cannabis company, to broaden its product options in Canada. Whisl is an innovative CBD vape that can assist you in maintaining a cheerful attitude throughout the day.
Financial Highlights
- All business segments of the Company delivered sequential revenue growth in Q1 FY2024 compared to Q4 FY2023.
- Achieved cost reduction of $47 million in Q1 FY2024, bringing total cost reductions to $172 million since the beginning of FY2023.
- Consistent supply and strong demand for high-quality flower elevated the Tweed brand to the #8 rank within the total flower segment of the Canadian adult-use cannabis market in Q1 FY20241, moving up 19 places year-over-year.
- Canadian cannabis business continued its transformation to simplified, asset-light model in Q1 FY2024, building on the divestiture of national retail operations, closure of eight cultivation facilities to focus on two purpose-built cultivation sites and outsourcing of vape, beverage and edible production to independent, third-party Contract Manufacturing Organizations (“CMO”).
- The Company continues to focus on simplifying its businesses and reducing cash burn; currently reviewing strategic options for BioSteel Sports Nutrition Inc. (“BioSteel”), including a potential sale of the business, in order to remove the cash burden to Canopy Growth as quickly as possible.
- Entities that are expected to be acquired by Canopy USA, LLC (“CUSA”) continue to demonstrate momentum, and Canopy Growth continues to work with regulators to advance its novel structure.
CGC Stock Performance
CGC stock closed at $0.6838 on September 5th, up 52.87% in the past month of trading. The stock has a 52-week price range of $0.3460-$4.77, down 70.40% in the last year. According to analysts at CNN Business, CGC stock has a 12-month median price target of $0.50 per share. This estimate would be a 26.47% decrease from its last trading price of $0.6838.
Promising Canadian Marijuana Stocks for September 2023
Many investors actively trade short-term positions in top cannabis companies to profit from market volatility. Before beginning a trade, use chart patterns and technical indicators to determine the best entry and exit points. You can boost your chances of closing profitable transactions by constantly hunting for advantageous possibilities. Given the volatility of some of Canada’s most well-known marijuana companies, these could be some of the best cannabis penny stocks to watch in 2023.
Disclaimer: The information provided in this article is for educational and informational purposes only and should not be construed as financial or investment advice. Investing in cannabis stocks, particularly penny stocks, contains inherent risks, and readers are recommended to perform their research and seek expert guidance before making any investment decisions.
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