On September 13, 2017, David George-Cosh from the Wall Street Journal wrote an article titled “Canadian Exchange Weighs Risks in Trading U.S. Marijuana Stocks” which featured a quote from Quantum 9‘s CEO Michael Mayes. As a result, Canadian and US-Based companies flooded the Canadian stock exchange looking to enter the publicly traded cannabis industry. As a result, legal cannabis stocks are on the rise and this article will outline some of the best companies to invest in.
Cannabis Stocks in Canadian History
Medical cannabis has been legal medically in Canada since 2001 for patients with valid prescriptions. After that, as of October 17, 2018, Canada became fully recreational, the only other country that has done this is Uraguay. So, cannabis stocks have been on the rise.
For years, Prime Minister Justin Trudeau promised that adult-use marijuana would be legal in Canada. Therefore, promise kept and Bill C-45, aka the Cannabis Act, passed.
Michael Mayes was quoted saying “Many institutional investors wouldn’t touch any of these firms with a 10-foot pole”
Best Cannabis Stocks to Invest In
Quantum 9 thinks the following stocks are the best for investors to invest in.
Canopy Growth Corp: (NYSE: CGC) Canopy is the largest marijuana company in the world. So, their cannabis stock is one of the best to invest in. Their business holdings are all over the world. Therefore, if the legal landscape changes a sharp decline on the cannabis stocks won’t take place.
Aurora Cannabis: (NYSE: ACB) Aurora has made some strategic partnerships and have an amazing distribution network setup internationally.
Aphria (NYSE: APHA) Aphria has been very busy internationally. Therefore, their deep understading of greenhouse technologies makes them very attractive and near the top of all cannabis stocks.
Horizons Marijuana (OTCMKTS: HMLSF) Horizons is an ETF. Therefore, it spreads the risk over many different cannabis companies like GW Pharmaceuticals and Scotts Miracle-Gro.
In conclusion, be careful when investing in this volatile space.
