Are you looking for ways to invest in top marijuana stocks before October? In September many leading cannabis stocks to invest in have seen extreme market volatility. Also, in September some of the top pot stocks are also trading near some of their…
lowest price points of 2021. To close the month the cannabis sector received some good news from Congress. In another attempt two establish federal marijuana legalization the house has passed the SAFE Banking Act. In addition, the House is also expected to vote on The MORE Act which would end federal cannabis prohibition.
For the most part, federal cannabis legalization has been one of e the biggest catalyst for the cannabis sector in 2021. In the first quarter of 2021 top pot stocks rallied because investors believed legalization would occur earlier in the year. Peaking in February the best cannabis stocks to invest in have seen declines in the market for several months.
One area that has seen substantial volatility is Canadian marijuana stocks. In Q1 2021 most Canadian cannabis stocks saw the most upside until reaching a peak in February. They have also experienced the steepest declines heading into October. This decline in market value could be an opportunity for investors to achieve some returns as the cannabis sector begins to move higher.
Investing In the Canadian Cannabis Industry And Top Pot Stocks
The Canadian cannabis market stands to gain a new market once the US ends prohibition. In fact, many leading Canadian cannabis companies have already established a way to enter the American market and gain some market share. As the possibility of the US ending cannabis prohibition strengthens it could be time to add top Canadian pot stocks to your watchlist. From current trading levels, some of these Canadian marijuana stocks could deliver upside for investors.
Before investing in cannabis stocks, it’s important to do your due diligence on a company. Researching a company’s earnings and following how the stock moves in the market can help you establish the best returns on your investments. Heading into October the cannabis sector has a new potential catalyst that could stimulate pot stocks in Q4 2021. Let’s look at 2 top marijuana stocks for your list right now.
Best Canadian Marijuana Stock In October 2021
- Tilray, Inc. (NASDAQ:TLRY)
- Village Farms International, Inc. (NASDAQ:VFF)
Tilray, Inc.
Tilray, Inc. is a leading global cannabis consumer packaged goods company with operations in Canada, the US, Europe, Australia, and Latin America. The company has undergone a merger in the Canadian market to become one of the largest revenues producing cannabis companies in the world. Additionally, Tilray is positioning itself to enter the US market and is also expanding its international presence. Also, Tilray completed its first harvest and delivery of medical cannabis grown in Germany. Notably, the company has established CBD products and infused beverages that could be large revenue producers across the Canadian and American markets.
In August Tilray acquired a majority position in MedMen convertible notes also a move to enter the US cannabis market. Tilray reported its 2021 fiscal year and Q4 results with net revenue up 27% year over year to $513 million. To highlight, the company produced a net income of $33.6 million and adjusted EBITDA of $12.3 million. As a result, Tilray increased its revenue by 55% in Q4 and holds the #1 share in Canada.
TLRY Stock Performance
TLRY stock closed on September 28th at $11.63 up 3.65% in the past five trading days. The stock has a 52-week price range of $4.71-$67.00 down 13.34% in the last month. According to analysts at CNN Business TRLY stock has a 12-month median price target of $15.00 per share. In essence, this would be an upside of 28.76% from its last trading price of $11.65.
Village Farms International, Inc.
Next on the list is Village Farms International, Inc. the company and its subsidiaries, produce, market, and distribute greenhouse-grown tomatoes, bell peppers, and cucumbers in North America. Additionally, the company began focusing on opportunities in the cannabis and CBD segments in Canada and the US. In detail, Village Farms wholly-owned subsidiary Pure Sunfarms is one of the largest cannabis operations in North America. To highlight…
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