Cannabis is one of the biggest trends in Canada, and it’s predicted to become a significant investment option for Canadians. In this article, we will discuss Canadian cannabis stocks that have been making news recently and are worth keeping an eye on.
The “cbd stocks to watch” are the Canadian cannabis companies that investors should keep an eye on in November 2021.
Current Marijuana Stocks and Market Activity
The cannabis industry has continued to face market falls in November, with prominent marijuana stocks selling at their lowest levels since 2021. Canadian cannabis equities are one segment of the cannabis industry that has suffered a considerable reduction in value. Following fresh highs in the first quarter, Canadian marijuana stocks have plummeted to levels that may hold some opportunity for investors.
Although the Canadian cannabis industry is expected to rise in 2021, it will not be enough to keep up with the growth seen by major US cannabis firms. The necessity for Canadian cannabis firms to access the US market became increasingly apparent as the year proceeded. Many Canadian corporations have already developed a presence in the American cannabis industry at this time.
However, they will not be allowed to fully join the US cannabis sector until Congress repeals the ban. Some companies have developed CBD products that they may sell in the United States. Other corporations have made acquisitions in the United States that will help them expand their influence in the country. In addition to the potential for future expansion in the United States, Canadian cannabis firms have established themselves overseas. We might see some gain for Canadian cannabis companies if Congress adopts federal marijuana legalization.
Investing in the Best Cannabis Stocks Right Now
Before investing in any cannabis stock, you should always do your own research on the business. You can locate the finest cannabis stocks to invest in by researching a company’s financial data and evaluating how a stock performs in the market. Many investors create a watchlist of companies they want to keep an eye on in the market. This may assist you in determining the optimal entry opportunities for your trades and perhaps increase your profits. In general, traders may be interested in Canadian cannabis stocks in the future. Let’s take a closer look at two of the best marijuana stocks in Canada to add to your portfolio this month.
Marijuana Stocks to Watch in Canada in 2021
- Aurora Cannabis Inc. is a cannabis company based in Canada. is a cannabis company based in Canada (NASDAQ: ACB)
- High Tide Inc. is a company that specializes in providing high-quality is a company that specializes in providing high-quality (NASDAQ: HITI)
Aurora Cannabis Inc.
Aurora Cannabis Inc. is another Canadian firm that manufactures and sells medicinal marijuana across the world. In 20212, the firm announced its debut into the US market by acquiring Reliva, a CBD-producing company based in the United States. Aurora’s San Rafael ’71 range was further enhanced with the introduction of three additional proprietary cultivars. The business sent a $8 million cannabis supply to Israel in the second quarter. The firm is primarily focused on reorganizing its financial sheet and has completed the first shipment to the French medicinal cannabis pilot program.
Aurora reported $54.8 million in total cannabis net sales for the fourth quarter of fiscal 2021. With $440.9 million in cash as of June, the company’s financial sheet remained robust, up $404.3 million year over year. Furthermore, the company’s adjusted EBITDA loss is $13.9 million, up $17.6 million from the previous year. Aurora is the leading Canadian LP in the global medical cannabis market, with its corporate transformation strategy on track, according to the company. On November 9th, the corporation will release its first-quarter fiscal 2022 financials.
On November 3, 2021, ACB stock was trading at $6.97, down 22.82 percent over the previous six months. The stock is now trading in a 52-week price range of $4.38-$18.98, down 16.97% year to date. ACB stock has a 12-month consensus price objective of $5.51 per share, according to CNN Business experts. This is a 20.13 percent drop from its current trading price.
High Tide Inc.
High Tide Inc is a cannabis company that focuses on retail and also makes and distributes consumption accessories. High Tide offers a diverse portfolio of businesses, including a leading Canadian cannabis retailer and a worldwide producer and distributor of cutting-edge smoking accessories. First and foremost, the firm has built the world’s biggest accessories eCommerce platform. High Tide now has 103 branded retail outlets spread throughout Canada. High Tide completed the purchase of Blessed CBD in October and is now entering the UK market.
In addition, the firm finalized the purchase of Smoke Cartel Inc and developed the Grasscity brand, which sells hemp-derived CBD products. High Tide’s quick growth into the US cannabis industry has continued with the purchase of Dankstop, a major online retailer. Revenue increased by 99 percent to $48.1 million in the third quarter of 2021, according to the corporation. As a consequence, total earnings climbed by 75% year over year to $16.7 million. The company’s Adjusted EBITDA is $1.5 million, down from $3.4 million the previous year. The change in adjusted EBITDA is mostly due to High Tide’s NASDAQ re-listing.
On November 3rd, HITI stock was trading at $6.08, up 10.49 percent in the previous five trading days. The stock is now trading in a 52-week price range of $3.00-$13.29, with a year-to-date gain of 96.37 percent. HITI stock has a 12-month average price objective of $13.86 per share, according to Tip Ranks experts. In this example, it would represent a 128.29% increase over the current trade price.
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