Pernod Ricard (PERP.PA), the world’s second-largest spirits maker, has not yet seen any impact from the legalization of cannabis in some parts of North America but is monitoring the situation closely, its chief executive said.
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Legalized marijuana has a lot of investors having visions of lots of green. With legalization sweeping across the states, it seems to be a great time to invest in marijuana stocks. Unfortunately, it’s not.
Here’s why the marijuana market is so intriguing, how big the opportunity could be, and why these stocks are top stocks to own.
If it seems like there’s been a spurt of deals and potential deals going on in the cannabis industry lately, it’s because that’s exactly what’s happening.
Canada’s weed stocks, which have surrendered some of the potent gains that pushed them to record highs this month, face a bumpy ride in 2018 that could purge smaller players, as the country moves to allow recreational use of cannabis in July.
Not surprisingly, Canadian pot stocks have been the top performers of late, with Canopy Growth Corp. (NASDAQOTH:TWMJF), the now-largest marijuana stock in the world by market cap, leading the charge.
The North American Marijuana Index, a stock index that tracks the top performing cannabis stocks in the U.S. and Canada, increased 4% in October.
Shares of Canopy Growth Corp. (TSX:WEED) have climbed a stunning 53.8% month over month as of close on November 1. With all of this in mind, has Canopy established itself as the premier cannabis stock for Canadians?
The Auscann Group Holdings Ltd (ASX: AC8) share price had a day to remember on Tuesday. At one stage the medicinal cannabis company’s shares were up as much as 27% before finishing the day 23.5% higher at 52.5 cents.
Drinkable cannabis has been on the rise since the advent of states in America with recreational marijuana legalization and now that Canada is on the brink of implementing recreational legalization, a recently announced strategic relationship has the future of Canadian cannabis beverages looking bright.