1) Canopy Growth Corporation $CGC
Is a cannabis company based in Smiths Falls, Ontario. Canopy was the world’s largest cannabis company by April 2019 based on market capitalization. Canopy Growth Corp. was the first federally regulated and licensed, publicly traded cannabis producer in North America. It first started trading on the Toronto Stock Exchange as $WEED. On May 24, 2018 It began trading as $CGC on the New York Stock Exchange becoming the first cannabis producer to be able to publicly sell stocks in the US.
Canopy Growth Corp. saw a jump in their stock price from Oct. 2020 to Feb 10th of over 350%. Why? such a jump in such a short amount of time…
My guess? Elections.
Feb. 24th 2021 and $CGC is currently trading for around $35, in my opinion this is the best long-term single cannabis stock to have in your portfolio. Currently with the Democrats controlling the offices of power, and having voiced their opinion on marijuana legalization, right now may be a great time to buy. $CGC has been linked to a cannabis company located in British Columbia called Acreage Holdings, which has a diverse portfolio and operation of cannabis cultivation, processing and dispensing in the US. The purchase for $300-million has not yet been made, but the agreement states that Canopy will buy all of Acreage shares for $3.4 billion if the American federal government legalizes cannabis. Hurry up Merica….
2) Aurora Cannabis Inc $ACB
Is a Canadian cannabis producer that trades on both the Toronto Stock Exchange and New York Stock Exchange. By market capitalization Aurora is the second largest cannabis company in the world, after Canopy Growth Corporation.
Aurora Cannabis $ACB is currently trading for under $12 a share and has potential to see 10X returns as you can see from the charts above. $ACB has surpassed the $115 price target three separate times in the last three years, and has came close to $130. The Cannabis Industry is BOOMING, and for the price available I find this stock as a low risk high reward situation…. throw some pizza money on it.
Current $ACB price at post time
3) ETFMG Alternative Harvest ETF $MJ
So $MJ is technically not a stock it is an ETF (Exchange Traded Fund) but it is a type of investment fund traded on stock exchanges. $MJ is the first U.S. and world’s largest ETF fund that measures the performance of companies within the cannabis industry. U.S. Legalization of medicinal and recreational cannabis will have signiﬁcant implications for cannabis and THC based medicines and treatments ranging from epilepsy to cancer treatment to non-opioid pain management all offered by cannabis. This ETF is a great option to add to your portfolio if you are not willing to bet on one single stock but think the industry as a whole will grow.