Top Canadian Cannabis Stocks Continue To Soar In February
Marijuana stocks continue to climb in the market in February adding substantial gains for cannabis investors. In particular Canadian marijuana stocks have shown the most momentum this month. Top Canadian marijuana stocks like Canopy Growth Corporation (NASDAQ: CGC) have risen by almost 30% in the month of February. In reality, this is adding to gains cannabis stocks have been accumulating since the presidential election. Since November CGC has seen triple-digit percentage gains in the market.
But although these are amazing returns other Canadian marijuana stocks have been delivering even better returns. As things progress in the cannabis industry with federal reform and marijuana legalization Canadian companies may get an opportunity to claim a large portion of the U.S. market. At the present time, there are a few well-positioned Canadian marijuana companies that have established plans to enter the U.S. cannabis market.
Additionally, they have also expanded their business on a global basis establishing medical cannabis sales in Europe. With current revenue growth, Canadian cannabis companies could become some of the biggest revenue-producing cannabis companies in 2021. Although U.S. cannabis companies might not be too far behind these Canadian giants could reach new milestones with the increasing demand for cannabis.
Global Opportunity For Canadian Cannabis Companies
On a global scale, cannabis is becoming more accepted for medical purposes. In truth, this will propel top medical-grade cannabis producers to new levels in this business sector. In truth, the next five years should see rapid revenue growth for the cannabis industry. But finding the right pot stocks to invest in requires some due diligence from investors.
Although marijuana stocks will most likely have long term momentum most investors are interested in the massive, short term gains. Whatever your trading style these Canadian cannabis companies are well-positioned to make cannabis sales either foreign or domestic.
As cannabis stocks continue to show potential upward momentum investors that are looking for marijuana stocks should not exclude these Canadian companies because of recent gains. While the cannabis sector has performed exceptionally well since the start of 2021 the future still looks promising. With the intention of looking at Canadian cannabis companies with the biggest growth potential in the world. Let’s take a look at these 2 top cannabis stocks to possibly invest in for 2021.
- 3 Marijuana Stocks To Watch This Month That May Be The Best Investment You Made In 2021
2 Marijuana Stocks To Watch:
Aphria Inc is one of the leading global cannabis consumer packaged goods companies in the world. Recently the company became the biggest revenue producer due to the merger with Canadian giant Tilray Inc. in December 2020. Also, in November of 2020 Aphria closed the acquisition of an independent U.S. craft brewery Sweet Water Brewing. On January 25th SweetWater released Oasis Premium hard seltzer. In essence, this is adding new revenue opportunities for Aphria in the U.S. Actually, it looks like it’s only a matter of time before these beverages from SweetWater are THC-infused and being delivered throughout the states.
On January 14th Aphria is announced record revenue in Q2 of fiscal 2021. The company is reporting net revenue of $126.62 million. In addition, Aphria has adjusted EBITDA of $9.93 million and a record gross revenue for adult-use cannabis of $56.87 million. The company has also completed its first EU-GMP shipment of medical cannabis to Germany, and Israel. Also, the company expanded 510 vape offerings across its award-winning adult-use portfolio.
APHA stock is up 280.35% year to date with a new high of $32.29 on February 10th trading. Currently trading around $26.10 heading into the close the stock is up 9.89% for the day. APHA stock is trading far beyond most analysts’ expectations at the moment. But by becoming one of the centerpieces of the Canadian cannabis industry it could continue rising. For this reason, APHA stocks is a top Canadian marijuana stock to watch in 2021.
Tilray, Inc. is a global pioneer in medical cannabis and cannabinoids. In reality, Tilray was the first Canadian company to be GMP certified with the European Medicine Agency standards. After the merger, Aphria and Tilray combine to have a pro forma revenue of $685 million.
As far as growth in the global sector the company is well-positioned to expand internationally. On February 9th Tilray announced it reached an agreement with British company Grow Pharma. In the agreement, Grow Pharma will import medicinal cannabis products in the U.K. At the present time Canadian marijuana stocks are soaring and Tilray is amongst the large gainers.
TLRY stock is up over 50% in trading on February 10th going into the close. Recently TLRY has become one of the Canadian cannabis stocks that have seen the most momentum in February of 2021. Currently trading at $63.40 on February 10th the stock could have more upside because of attention from Reddit investors. With this in mind, TLRY is a top Canadian cannabis stock to watch right now.