Recreational adult-use cannabis is now legal in Canada. Canada has now become the second country in the world to nationally legalize recreational marijuana. Surprisingly, most Canadian marijuana stocks are down today on US and Canadian markets.
Let's take a closer look at five Canadian marijuana stocks every investor should keep on their watch list.
Canadian Marijuana Stocks to Watch
1. Aphria Inc. (TSX:APH)
Aphria Inc is headquartered in Leamington, Ontario, and produces and sells medical cannabis throughout Canada and internationally.
This morning Aphria published an official announcement about the first day of adult-use cannabis legalization across Canada.
Vic Neufeld, CEO of Aphria, said:
"Today we celebrate the end of nearly a century of prohibition and the beginning of an exciting new chapter for the cannabis industry. The Cannabis Act, which comes into effect today, cements Canada's global leadership in this rapidly expanding industry. This is an historic moment as we march into the future of cannabis."
Currently, Aphria is one of only a few Canadian marijuana stocks that is trading in the green today in the US and Canada. According to Yahoo Finance, APH is currently trading at $19.13 a share, up +$0.44 (+2.35%) on the TSX.
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2. Aurora Cannabis Inc. (TSX:ACB)
Aurora Cannabis is headquartered in Edmonton, Alberta, and it produces and distributes medical cannabis products in Canada and internationally. Currently, Aurora Cannabis has collaboration agreements with PharmaChoise, Pharasave, and Shoppers Drug Mart for the distribution, sale, and marketing of medical cannabis products.
Unlike many of the Canadian marijuana stocks, Aurora Cannabis has recently flooded the media with new announcements.
Yesterday, Aurora Cannabis announced it received the official verification from Health Canada to release for sale its high-potency, vape-ready CBD oil product line. The CBD oil was launched yesterday under the brand Aurora Cloud. Its products contain over 550 mg of CBD and less than 30 mg of THC.
"Being the first LP to launch a vape-ready CBD-rich product for the rapidly growing medical and wellness markets reflects our continued leadership in developing and rapidly commercializing product innovations, providing us with an important competitive advantage," said Terry Booth, CEO.
In addition to the new license, Aurora Cannabis announced this morning that its Aurora Sky facility has been granted its sales license by Health Canada. This new license increases the availability of both dried flower and cannabis products across all cannabis markets that Aurora is targeting.
Despite its positive announcements, the cannabis stock is trading in the red on both the TSX and OTCQX. According to Yahoo Finance, ACB is currently trading at $13.72 a share, -$0.26 (-1.86%) on the TSX.
3. Canopy Growth Corporation (TSX:WEED)
Canopy Growth Corporation is based out of Smiths Falls, Ontario, and through its subsidiaries engages in growing, possession, and the sale of medical cannabis in Canada. The company was formerly known as Tweed Marijuana Inc but changed its name back in September of 2015.
Like Aurora, Canopy Growth has also had a list of recent company news announced. Two days ago, the marijuana stock announced it had acquired the assets of Ebbu Inc, a hemp research company. The Colorado-based research company designs cannabis-based medicine. Canopy Growth paid $25 million CAD in cash and issued over 6 million common shares to Ebbu.
Canopy Growth also recently announced it will publish its Q3 results on November 14th, 2018. Canopy Growth is celebrating the legalization of marijuana today by having its Co-CEO, Bruce Linton, purchase the first believed legal sale of recreational cannabis at the Tweed flagship store on Water Street in St. John's, Newfoundland, at 12:00 AM Newfoundland Time.
Linton said at the time:
"On a day like this, it's important to recognize all those who struggled, and fought to get us here. The advocates, patients, physicians, lawyers, and many more who can celebrate today as the product of years, if not a lifetime, of hard work. We couldn't be more excited to open this new, legal, regulated market for recreational cannabis in Canada and to now provide Canadians with a diverse supply of high quality, safe cannabis products."
Currently, the marijuana stock is trading at $66.83 a share, down -$1.87 (-2.72%) on the TSX.
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4. OrganiGram Holdings (TSXV:OGI)
OrganiGram Holdings is headquartered in Moncton, New Brunswick, and through its subsidiaries produces and sells medical marijuana to patients and physicians in Canada.
OrganiGram is currently one the of the few Canadian marijuana stocks trading in the green today. The cannabis company made two major announcements this morning to kick off legalization day.
First, OrganiGram announced it had completed the sale of Trauma Healing Centers to Harvest Medicine Inc. Harvest Medicine is a wholly-owned subsidiary of VIVO Cannabis Inc. (TSXV:VIVO).
"Our top priority as a company is, and will continue to be, our commitment to our patient community. As our industry evolves, we have become increasingly confident in our strategy to focus on producing the highest quality cannabis at Organigram which has us reassessing our investments in clinic operations" stated Greg Engel, CEO at OrganiGram.
Second, the cannabis company announced it had acquired 25% of alpha-cannabis Pharma GmbH. This new acquisition extends OrganiGram's presence in Germany.
According to Yahoo Finance, OGI is currently trading in the green at $7.40 a share, up +$0.11 (+1.51%).
5. Aleafia Health Inc. (TSXV:ALEF)
Aleafia Health Inc. is headquartered in Concord, Ontario, and operates vertically as an integrated cannabis company in Canada. Aleafia Health provides medical consultation services to determine the suitability of medical cannabis for patients.
This morning, the Canadian marijuana stock announced three new clinics, six new physicians, and telemedicine services. Aleafia Health is also planning on adding nurse practitioners to its company to complement its physician-led treatment and meet a significant rise in patient demand.
Telemedicine is said to expand Aleafia's practice by being able to reach more patients using the newest innovative technology.
“New and innovative treatment methods will allow Aleafia to rapidly scale our growing medical cannabis clinics while reducing costs,” said Aleafia Health CEO Geoffrey Benic. “Telemedicine treatment methods will be a major net benefit to both our patients and shareholders, as we acquire new patients who no longer have to travel to seek help.”
Despite the positive company news, Aleafia Health shares are currently trading in the red on the TSXV. According to Yahoo Finance, the marijuana stock is selling at $3.27, down -$0.18 (-5.22%).
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