As the possibility of seeing federal cannabis reform grows this month more investors are looking for pot stocks to invest in. One area of the cannabis sector that experienced the most volatility in the past year is…
Canadian marijuana stocks. In February of 2021 Canadian cannabis stocks rallied the most establishing new highs.
Now after reaching new 52-week lows in January 2022 they are showing some upward momentum this month. Although the leading Canadian cannabis companies have not performed as well as the top-tier US companies, they could have some future potential. As the US begins to end federal cannabis prohibition leading Canadian cannabis companies could begin to expand into the US cannabis market in the next few years.
Most have already established some form of entry into the market either by M&As or CBD sales in the states. In addition, some leading Canadian companies have also established themselves in the global cannabis market. This gives them a strong presence in the global cannabis arena as it grows rapidly in the next five years. As the cannabis industry continues to expand some Canadian cannabis companies could see significant revenue growth.
Investing In Canadian Pot Stocks And Making Better Investments
Before investing in cannabis stocks, it’s always important to research a company thoroughly before investing. Looking into a company’s earnings and press releases can allow you to isolate the best-performing businesses. Additionally following how a stock behaves in the market and finding grade A trade setups can help you establish the best entries into a position.
[Read More] Top Cannabis Stocks To Buy Now? 3 To Watch For In February
With top Canadian cannabis stocks dropping to such low levels some cannabis investors could begin to trade them for short-term gains. Using day trading and swing trading strategies active traders can produce a profit with current market volatility in pot stocks. Let’s look at 3 top Canadian marijuana stocks to watch in February 2022.
Best Canadian Cannabis Stocks To Watch Right Now
- Tilray Brands, Inc. (NASDAQ: TLRY)
- High Tide Inc. (NASDAQ: HITI)
- HEXO Corp. (NASDAQ: HEXO)
Tilray, Inc.
Tilray, Inc. is the biggest cannabis CPG company in the world, with operations in Canada, the United States, Europe, Australia, and Latin America. The company has just recently entered the Canadian market, but it has already established itself as one of the most successful cannabis enterprises in the world. Tilray is preparing to enter the US market and increase its global reach. Tilray was also the first firm in Germany to grow and market medicinal marijuana. The company has developed CBD-infused items and drinks that have a lot of promise in both the Canadian and American markets. Tilray and Great North Distributors formed a distribution partnership in October to help Canada’s legal cannabis industry grow.
Tilray recently acquired a majority interest in MedMen convertible notes, indicating a push into the American cannabis market. Tilray’s net sales in the second quarter of the fiscal year 2022 were $168 million, up 43 percent year over year. Net beverage alcohol sales were $15 million because of the Sweetwater transaction, while cannabis revenue was $70 million. With top ranks in cannabis flower and pre-rolls, the company’s market share in Canada stayed at the top. The company lost $34.6 million in the first quarter and had a $12.7 million Adjusted EBITDA. On February 1st SweetWater Brewing expanded its distribution across California with a partnership with Reyes Beer Division.
TLRY Stock Performance
On February 14th, the shares of TLRY closed at $6.72, down 2.89 percent in the last five trading days. The 52-week price range for the stock is $5.15-$67.00. According to CNN Business experts, TLRY stock has a 12-month consensus price objective of $8.00 per share. This represents a 19.40 percent increase over the previous trading price of $6.72.
High Tide Inc.
High Tide Inc is a cannabis dispensary that also sells and manufactures consumption equipment. A well-known Canadian cannabis business, as well as a global creator and distributor of cutting-edge smoking accessories, are all part of High Tide’s portfolio. To begin, the business built the largest accessories eCommerce platform in the world. In Canada, there are now 106 High Tide branded retail establishments. High Tide purchased…
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