There are few things investors love more than an entire industry that’s growing rapidly, and that’s precisely what the legal marijuana market is today. Although still federally illegal in the U.S., a flurry of states have been decriminalizing or outright legalizing marijuana for medical and recreational use in recent years. In Canada, recreational cannabis use was federally legalized in 2018, allowing a number of legitimate pot companies to spring up, many of which went public. Canadian pot stocks are the best way for…
U.S. investors to gain exposure to the global expansion of legal marijuana, a market that experts see growing by roughly 18% annually between 2020 and 2027. Although most of them look expensive by traditional metrics and few are consistently profitable, here’s a look at eight of the premier Canadian marijuana stocks of 2021.
Aurora Cannabis (ticker: ACB)
The $2 billion Aurora Cannabis is one of Canada’s earliest publicly traded weed stocks, and in recent quarters it has been putting up attractive growth numbers in its medical cannabis business. In its last fiscal quarter, which concluded at the end of December, medical cannabis revenue rose 42% year over year, as its international medical cannabis sales boosted growth, soaring 562%. Aurora’s consumer cannabis division is also growing, rising 25% last quarter compared to the same period in the prior year. That division sells things like vapes, edibles and concentrates directly to consumers.
One of the larger companies on this list with a market capitalization of around $6 billion, Aphria is also one of the few Canadian marijuana stocks that have been profitable in the last year. Up about 700% year over year, shares have recently been hitting all-time highs as they’ve rallied off early 2020 lows. Along with Aurora, APHA is one of only two Canadian marijuana stocks highlighted here with profits over the last 12 months, and it trades for about 60 times trailing earnings. Aphria’s revenue for its last reported six-month period rose…
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