Canadian marijuana stocks are budding as more investors plant them into their portfolios. With medical marijuana being legal since 2001 and recreational legalization approaching this summer, Canadian marijuana stocks are boasting sky-high valuations along with increased sales. These three marijuana stocks have over 1,200% aggregate sales growth (ASG) between the end of their 2015 and 2017 fiscal years.
Aphria (APHQF): 3,607% ASG
The medical marijuana producer takes the title of the fastest growing marijuana stock, he company went from $429,000 in total sales to an impressive $15.91 million in sales. Like most of Canada’s marijuana growers, the company has gained from the rush in medical-marijuana patients. Health Canada had reported that eligible patient enrollment was increasing by about 10% monthly throughout the country. Aphria (APHQF) also exports dried marijuana to demanding foreign markets that have legalized medical marijuana and do not have domestic grow laws in place.
Aprhria (APHQF) is in the process of completing a $100 million project that has four phases as it prepares for national recreational legalization. Once its last phase is completed, the company will possess about 1 million square feet of growing capacity with the ability to cultivate 100,000 kilograms of marijuana per year.
Canopy Growth Corp. (TWMJF): 2,000% ASG
Canopy Growth (TWMJF) the largest marijuana stock by market cap also brings nice growth between 2015 and 2017, as its annual sales have increased from about $1.5 million to around $31.1 million.
Canopy Growth (TWMJF) has also gained from the steady increase of eligible medical patients, but the company’s focus is expansion through acquisitions. In January, Canopy acquired Mettrum Health, gaining access nearly half of the country’s medical marijuana patients. The company reported in its most recent quarter that 2.4 million square feet is currently under development to increase production capacity and another 1.7 million square feet to be added if needed. The company also exports dried marijuana to several countries where medical marijuana is legal.
MedReleaf (MEDFF): 1,245% ASG
MedReleaf’s sales over the last two fiscal years, have went from around $2.3 million to $31.4 million as of 2017. MedReleaf (MEDFF), unlike many of its competitors which dilute their shareholders with bough-deal offerings, has used the funding from its initial public offering to increase its growing capacity at its Bradford facility.
What makes MedReleaf unique is the company’s focus on considerably higher margin dried cannabis and cannabis products. MedReleaf offers pricier cannabis strains that cater to a more affluent clientele, as well as focuses its efforts on controlling a large portion of Canada’s cannabis oils market. Oils are a higher-price-point, higher-margin item. In other words, MedReleaf can make more money while generating the same amount of revenue as its peers.
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