Two Canadian Pot Stocks to Watch as We Move Into the Second Half of July
As far as marijuana stocks go, Canadian pot stocks have been the gold standard for quite some time. Given that cannabis has been legal in Canada for several years now, the majority of marijuana stocks are based there. The Canadian cannabis industry is one of the largest in the world outside of the U.S., and for that reason, holds a lot of potential. Because it is so large, many believe that Canadian cannabis stocks could have a lot of upward momentum in the near future.[Read More]
Analysts have continued to state that the cannabis industry will grow dramatically in the next decade. With that in mind, there are some ideal pot stocks to watch. Now, not all marijuana stocks are made equally. That being said, certain marijuana stocks are definitely wiser choices than others. This also comes down to the individual trading method that one uses. Whether you swing trade or day trade, the options for marijuana stocks to watch are plentiful. And with a focus on the Canadian cannabis market, these are two solid pot stocks to watch for the near future.
A Pseudo-Canadian Marijuana Stock to Watch
Acreage Holdings Inc. (ACRGF Stock Report) may not on its own be a Canadian pot stock, but it has strong ties to Canada. Back in 2019, Canopy Growth Corp. (NYSE:CGC) announced that it would be conditionally buying Acreage Holdings. The conditions to buy ACRGF stock were that the U.S. had to lift its federal ban on cannabis. While that looks to be somewhat in the future, the two leading cannabis stocks announced an amendment to the deal. The new deal states that Canopy will provide around $37 million in a cash payment to Acreage, with access to another $100 million in loans as the company grows.
Many analysts believe that this has put Acreage in a very advantageous position as it allows ACRGF stock to grow dramatically. Analysts have put a roughly $3 price target out for ACRGF stock as well. As a major MSO in the U.S. market, Acreage has a unique position to grow substantially in the next few years. With this big partner, it should have access to growth resources outside of just the addition of capital. Because of this, Acreage Holdings remains a leading marijuana stock to watch.
The Largest Canadian Pot Stock
Canopy Growth Corp. (CGC Stock Report), is a household name in the cannabis industry at this point. As mentioned before, Canopy has been able to benefit from its deal with Acreage. With the new state of the deal, analysts have argued that Canopy is getting ACRGF stock at around 65% less than they should be. This means that the deal will help the two to grow tremendously into the future. Canopy Growth is betting on the fact that the U.S. is the largest cannabis industry in the world.
With this strategic investment, CGC stock could see a benefit from any occurrences in the U.S. cannabis industry. Of course, we all know that CGC stock is quite volatile in its own market. But, this high level of volatility means that there is a lot of potential for swift gains. On the other side, it also means that there is a high amount of potential for fast losses as well. But, as the largest cannabis stock in the word, CGC stock is undoubtedly the leader in the industry. For that reason, investors continue to view it as a marijuana stock to watch.
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