10 Marijuana Stocks to Buy for Their ‘Beyond the Flower’ Plans

Google the words “marijuana stocks to buy,” and you get hundreds of thousands of results. Investors remain enthusiastic about weed’s future despite all the ups and downs the global industry has experienced in recent years…

When it comes to marijuana investments, I’ve always been partial to those companies whose business strategy goes well beyond the flower into other products such as edibles and cannabis-infused drinks.

That said, I’m not suggesting businesses that focus on growing and producing excellent flower are wrong to do so — different strokes for different folks.

All I know is that this cannabis thing is catching on. Knowing which marijuana stocks to buy is critical for today’s investor.

Here in Nova Scotia, where I live, the Nova Scotia Liquor Commission (NSLC) just reported its annual sales. Cannabis revenue jumped 21.1% in the fiscal year ended March 31, to 86 million CAD ($70 million), or almost 11% of the crown corporation’s total sales.

And while it doesn’t break down the cannabis sales by type of product, I’m confident the non-flower sales are gaining ground on dried flower and pre-rolls.

With this in mind, here are 10 marijuana stocks to buy that are moving beyond the flower:

  • Canopy Growth (NASDAQ:CGC)
  • Tilray (NASDAQ:TLRY)
  • Cronos Group (NASDAQ:CRON)
  • Hexo (NYSE:HEXO)
  • OrganiGram Holdings (NASDAQ:OGI)
  • Valens Company (OTCMKTS:VLNCF)
  • Neptune Wellness (NASDAQ:NEPT)
  • Auxly Cannabis Group (OTCMKTS:CBWTF)
  • Coffee Holding Co. (NASDAQ:JVA)
  • Indiva (OTCMKTS:NDVAF)

Marijuana Stocks to Buy: Canopy Growth (CGC)

As one of the largest global cannabis companies, Canopy delivers a diversified product line that runs the gamut from dried flower to oils, concentrates and even hemp.

How many cannabis brands get to say they have Martha Stewart on their team? Her CBD products are likely to be very successful in the U.S. marketplace.

When it comes to beverages, Canopy delivers a one-two-three punch. First, there is BioSteel Sports Nutrition, the number one sports nutrition product in the world. Second, it’s partnered with actor Seth Rogen to produce Houseplant cannabis-infused sparkling water in Canada and the U.S. Lastly, it launched Quatreau cannabis-infused sparkling waters in Canada in November 2020. In March, it launched Quatreau in the U.S.

2021 looks to be the year Canopy Growth becomes the company everyone thought it could be.

Tilray (TLRY)

The merger of Tilray with Aphria brought together some very successful brands in the food and beverage space.

Aphria had Sweetwater Brewing, which it acquired in November 2020 for $300 million. It brings beverage experience to the table as it wades into the growing cannabis-infused drinks market. Tilray brought Everie to the table, the first product out the door from its Fluent Beverages joint venture with Anheuser-Busch InBev (NYSE:BUD).

Expect a lot more to come down the pike now that Aphria CEO Irwin Simon is in charge of the entire business. And some believe Tilray could be the next big short squeeze candidate.

Post-merger, the company’s not sitting still. On June 10, Tilray launched Symbios, a medical brand that will complement its other medical cannabis brands. Available at cheaper price points, it’s become the company’s value play in the medical space.

Marijuana Stocks to Buy: Cronos Group (CRON)

While this article focuses on products beyond dried flower, I would be remiss if I didn’t mention that Cronos Group made a strategic investment on June 14 that sees it buy an option to acquire 10.5% of PharmaCann for $110.4 million. The option’s exercise is predicated on the U.S. federal government legalizing cannabis.

The company is one of the largest vertically integrated cannabis companies in the U.S., with operations in six states, including 23 dispensaries operating under the Verilife brand.

On the product front, Cronos Group offers tincture oils through its Peace Naturals brand; edibles and…

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