The North American Marijuana Index, a stock index that tracks the top performing cannabis stocks in the U.S. and Canada, increased 61% in December.
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Aurora Cannabis Inc. (TSX:ACB) and Canopy Growth Corp. (TSX:WEED) are the two frontrunners in the rapidly emerging Canadian cannabis scene, but will these two powerhouses play leapfrog as legalization day comes and goes?
Canadian cannabis stocks fell on Thursday after the U.S. government said it would resume enforcement of federal laws banning marijuana in states that had legalized pot, disrupting a seven-day rally that boosted shares to record highs.
Marijuana companies are higher than ever as California rolls toward recreational legalization. The BI Canada Cannabis Competitive Peers index is having its best day ever as Californians prepare to light up, or eat up, marijuana products starting Jan. 1 at 12 a.m.
Medical marijuana maker CanniMed Therapeutics Inc (CMED.TO) should withdraw a shareholder rights plan adopted to fend off a hostile bid from larger rival Aurora Cannibis Inc ABC.TO, two Canadian regulators have ruled.
You might be wondering what’s behind the big rally in cannabis stocks? While a generally bullish market has certainly helped, there are five other considerably more prominent reasons behind the rally in marijuana stocks in 2017.
Investors have been eager to enter the Canadian marijuana space as the country moves towards launching its recreational cannabis market next July.
Here’s why the marijuana market is so intriguing, how big the opportunity could be, and why these stocks are top stocks to own.
It was another big day of gains on Tuesday for the North American Marijuana Index, even as some investors anxiously wait for the Fed to announce an interest rate hike in the next 24 hours.
A healthy day of trading for Canadian cannabis stocks led the North American Marijuana Index to gain several points over Monday’s 169.07 close.
Canada’s Aurora Cannabis Inc (ACB.TO) said on Monday it increased its stake in Australia-based Cann Group Ltd (CAN.AX) to 22.9 percent from 19.9 percent, its latest move to expand in the cannabis industry.
The first U.S. exchange-traded fund, ETF, to focus on marijuana stocks is launching Dec. 26 — days before California legalizes recreational cannabis use on January 1.
The Marijuana Index, which covers leading cannabis investments on both sides of the Canada-U.S. border, rose 7% on Monday to close at 174.82.
Over the past year, investors have been anxiously following the progression of marijuana stocks such as Canopy Growth Corp, which offer the promise of significant growth from the new, emerging segment of the economy.
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.
Vancouver-based Aurora Cannabis Inc. said Tuesday that it has made an all-share offer for CanniMed Therapeutics Inc., a fellow Canadian medical marijuana company.
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.
Shares of Insys Therapeutics, a small-cap biotech with a focus on pain management, plunged as much as 30% on Wednesday after receiving a double whammy.
The high-growth industry certainly offers terrific prospects that would be envied by many tech stocks. However, a big hurdle for some investors is investing in “sin stocks,” or what could be perceived as unethical industries and businesses.
Marijuana stocks were down sharply in Tuesday’s trading as Toronto Stock Exchange operator TMX Group Limited suggested the exchange is going to start cracking down on marijuana producers engaging in illegal activities south of the border.
Shares of Canadian marijuana company Aphria Inc sank on Tuesday, after the operator of the Toronto Stock Exchange said cannabis companies with U.S. interests would come under heightened scrutiny and could be delisted.
Canada’s TMX Group Ltd (X.TO), operator of the Toronto Stock Exchange, said on Monday that it might delist stocks of marijuana companies with interests in the United States, where their operations are illegal under federal law.
Despite strong opposition from former White House Press Secretary Sean Spicer and Attorney General Jeff Sessions, and the overall limitations imposed by federal illegality in the U.S., 2017 is shaping up to be a great year for the North American cannabis industry.
Legal pot sales rose a stunning 34% in 2016 to $6.7 billion across North America, according to Arcview Market Research. But with growth this rapid, there’s bound to be more than a few marijuana stock investments that will be left behind.
Canada’s biggest medical cannabis producers are seeing their stock prices rise after the federal government announced a plan to levy a one dollar per gram tax on recreational marijuana sales.
After the company announced it will tap investors for money to fuel R&D (research and development) and pre-commercialization efforts for its Dravet syndrome drug, shares in Zogenix (NASDAQ: ZGNX) are rallying 10% at 2 p.m. EDT today.
Zynerba Pharmaceuticals Inc said on Thursday its cannabis-based gel met the main goal in a mid-stage study of patients with Fragile X syndrome, a genetic disorder that causes learning disabilities in adolescents and children.
Marijuana stock investors are going to have to keep their eyes on the following two critical data points for each and every marijuana stock they’re considering buying, or that they already own.
Almost three months after the initial public offering (IPO) of MedReleaf Corp. (TSX:LEAF), shares have yet to do much in either direction. The company, which came to market in what was then described as a “botched IPO,” fell quickly out of the gate from its IPO price.
Undoubtedly, a reversal in the federal government’s laxness on pot would be terrible news for marijuana stock investors, but not every last company would be decimated. One marijuana stock could still thrive, even with Jeff Sessions waving the metaphorical sword at the pot industry: Scotts Miracle-Gro.
With prices for many major Canadian cannabis stocks such as Canopy Growth Corp., Aphria Inc., and Aurora Cannabis Inc. trading sideways over the past few months, investors are now wondering which direction stocks will move from here, and what the long-term play with this industry is overall.
Canopy Growth Corp. (TSX:WEED) was the first cannabis stock to the market and quickly captured the attention of traders and risk-taking growth investors alike. As a result, shares of Canopy skyrocketed 300% in a span of just a few months last year.
Whereas most weed businesses are working harder than ever to increase their grow capacity, Cronos Group is a company that’s trying to work smarter. Based in Canada, Cronos Group is an investment firm that primarily invests in Canadian-based pot companies involved in Canada’s medical-marijuana industry.
Any move by the Toronto Stock Exchange owner to stop settling trades for marijuana companies with U.S. operations would undermine the market’s regulatory system, according to one Canadian pot company.
TMX Group Ltd. (TSX:X), the operator of the Toronto Stock Exchange (TSX) and TSX Venture Exchange (TSXV), has reportedly been speaking with regulators to figure out what will happen to Canadian marijuana producers with assets in the U.S.
GW Pharmaceuticals Plc. is a biopharmaceutical company that discovers, develops, and commercializes cannabinoid prescription medicines. Since May 10, 2013, the stock price has climbed 1,033%.
Clinical-stage cannabinoid-based drug developer Zynerba Pharmaceuticals (NASDAQ:ZYNE) had been one of the strongest-performing pot stocks over the trailing year prior to the start of this past week.
If you look around, chances are you won’t find many marijuana stocks struggling. But there’s always an outlier — and for the marijuana industry that’s drugmaker Insys Therapeutics.
TMX Group Ltd’s CEO on Thursday brushed off signs that the grip of Canada’s dominant stock exchange operator on overall trading volumes was slipping, saying recent market share losses were mostly due to its rejection of certain listings.
When GW Pharmaceuticals announced its fiscal third-quarter results on Monday, the company provided plenty of information about its performance during the quarter. However, it wasn’t any of the numbers in the update that caused this decline. Instead, one word caused investors’ disappointment.
For many weed stocks, the summer of 2017 hasn’t been what you’d call a scorcher. However, three marijuana stocks have sizzled this summer.
If just a single clinical trial works in favor of Cara Therapeutics, it could regain everything it’s recently lost and possibly hit a $1 billion market cap.
Identifying companies in great financial health is important when investing in an industry like marijuana. That being said, the Canadian marijuana stocks on our list all have current ratios of at least 10x, and debt to equity ratios under 20%.
In mid-June home lawn and fertilizer care specialist The Scotts Miracle-Gro Company (NYSE:SMG) lowered its full-year fiscal 2017 outlook, citing a more than 10% drop in mass retail sales compared to the year-to-date checkpoint from the previous year. That was caused by challenging weather this spring in core markets across the United States.
Although the hype has worn off when it comes to Canadian marijuana companies, major growth prospects still exist in this newly emerging industry.
With excitement bubbling over the growth potential in the marijuana stock market, investors are keen on which pot stocks are the best to ride that wave of hype into comfortable returns.
The Canadian government is moving quickly to legalize marijuana and, unlike the patchwork state-by-state approach unfolding in the U.S., Canada is set to make it legal nationwide by this time next year.