This year is a HUGE year for Canada, as our neighbor to the north will legalize adult-use recreational marijuana this upcoming summer. Over the last trailing year, marijuana stocks have grown tremendously, and investors cannot wait to see what this year has in store with the addition of a new market. Investors remain bullish on the industry since there really isn’t much to put out the fire of these hot marijuana stocks. Here are my top 3 picks in terms of Canadian marijuana stocks that you should consider adding to your portfolio this year.
3. MedReleaf Corp. (MEDFF)
MedReleaf, although the smallest of the Canada’s four key players at $2.24 billion, has been consider one of the most undervalued marijuana plays. This marijuana stock has major potential, here’s why.
The federally licensed producer has acquired a large following from great satisfaction achieved from its premium-quality products from its customers. Although cannabidiol is not legal just yet, MedReleaf has already been recognized by the Lift Awards, taking home the titles for “Top High-CBD,” “Top Sativa,” and “Top Indica” over the past few years.
This marijuana stock prides itself on being a producer of premium medical-grade marijuana. MedReleaf is not only the first but the only ISO 9001 certified marijuana producer making the company good play for investors seeking a “pharma-like” play. MedReleaf is scheduled to reinvest a great deal back into research and development for further product enhancement.
2. Canopy Growth Corp. (TWMJF)
Canopy is probably one of the most recognized Canadian marijuana stocks, as it has received a lot of attention in the mainstream media due to its strategic business operations. The management team led by CEO Bruce Linton has set the foundation for this marijuana stock to become an absolute beast in the next few years.
Canopy has been significantly spending to double down on the longer-term opportunity, which can place this marijuana stock well above its peers as the industry develops. Canopy possesses the largest brand of marijuana in the industry, Tweed, and has the largest share of the medical marijuana market. Keep your eyes on this marijauan stock to see not only what the recreational market can generate for the company but also for an update on the deal with S&P 500 Corona maker Constellation Brands (STZ) for marijuana infused alcoholic beverages.
1. Aurora Cannabis Inc. (ACBFF)
Finally comes Aurora, my top pick for this year. Aurora is motivated to take the title of Canada’s top marijuana stock, and I think it will. The company’s 800,000-square-foot highly automated Aurora Sky facility is on schedule for completion around the same time as legalization and will dramatically bring down growing cost. This means the top and bottom line could be ready to take-off in the second half of 2018.
This marijuana stock has the top near-term catalysts, and marijuana investors should consider it soley for its potential to deliver immense profits later this year.
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