Canadian marijuana stocks have been booming rapidly over the course of the past several years, but several of the smaller cap stocks in the industry have begun to find their stride. This year has been a tough one for cannabis as issues with legislation are currently being worked out by various governments around the world. With new prospects throughout the market, the rest of this year looks as though it may be positive for the future of cannabis.
According to one study “The Horizons Marijuana Life Sciences index has declined 11% M/M and 24% YTD, and has underperformed the TSX-V, which declined 4% and 10% over the same periods.” Although these numbers represent the beginning of the year’s troubles, many new companies coming into the industry now, have been seeing similar returns to those who entered during the earlier cannabis boom in 2017.
One company that investors have been talking about is known as Kaneh Bosm Biotechnology. Bosm is a company based out of Canada that primarily works in acquisitions and mergers within the cannabis industry. The company recently received a $4 million private placement, leading many investors to believe that this company has a bright future. With a small market capitalization of around $24 million this year, the company has continued to bring in astonishing returns. Bosm has reported a 1-week gain of almost 5%, with a YRD return of almost 60%.
The company known as the Leviathan Cannabis Group, is listed on the CSE as of January 22nd of this year. Leviathan (CSE:EPIC), has been working to expand the cannabis sector by offering media platforms for growth and services agency to new and growing companies in the industry. With a market cap of $30.7 million and an 84.8% return since the beginning of its listing in January, Leviathan looks as though it is poised to continue with the high returns it has amassed thus far.
Next on the list is a company known as BlissCo Cannabis. BlissCo is another one of the Canadian companies working to take over the market within their borders. They recently began trading on the CSE under the ticket BLIS, with a $5.6 million private placement. This includes an almost $3 million equity investment from the comp[any known as Supreme Cannabis (TSXV:FIRE). BlissCo is working to build their business upon receiving their new Cannabis Cultivation License as of April 2nd. They also plan to open a production facility within central Vancouver that would effectively bring them extremely close to the market itself. With a market cap of around $46 million and a 1 month total return of 5.7%, BlissCo is another company that investors should be on the lookout for in the near future.
Lastly, the company known as Crop Infrastructure Corp. was recently listed on the CSE as of March 13th. Crop Infrastructure has been working to construct a new mega-greenhouse cannabis project. This new project would put them up on the list with some of the largest growing operations currently going on. They have been working to construct one of these facilities in Moses Lake, Washington, and recently announced a $4 million private placement at about $0.40 per share. The companies market cap is almost $40 million and with a combined YTD return of 64%, Crop looks as though it could become one of the big guys in this coming year.
The marijuana industry is continuing to grow at a large scale, but companies like these are remaining as the backbone to this growing industry. Only time will tell how well the Canadian market can continue to do given its successes thus far.
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