Which are the best cannabis stocks to buy in December? Below we presented the list of our top five cannabis stocks to buy now…
5. Canopy Growth Corporation (NASDAQ:CGC)
Canopy Growth Corporation (NASDAQ:CGC) leads our list of top five most popular cannabis stocks among hedge funds, as nine funds disclosed stakes worth $19.07 million in total, down from 11 funds the previous quarter.
Canopy Growth Corporation (NASDAQ:CGC) is one of the largest cannabis companies in the world and is highly diversified covering not just recreational and medical cannabis flower segments, but also hemp, CBD, beverages, edibles and vaporizers. The company has also entered into several important partnerships with Constellation Brands, Inc. (NYSE:STZ), Snoop Dogg, Seth Rogen, and Martha Stewart. In September, Canopy Growth Corporation (NASDAQ:CGC) launched Martha Stewart branded CBD gummies, oil, and gel on the US market and has been expanding the distribution network in the US.
In Aurora Cannabis Inc (NYSE:ACB), 10 investors from our database disclosed long positions as of the end of September, unchanged over the quarter. However, the aggregate value of their holdings slid to $9.22 million from $42.33 million.
Beside the fact that some investors unloaded their positions over the course of the third quarter, the drop in total value of funds holdings can also be attributed to a 62% drop the stock registered between July and September. To address its financial issues, Aurora Cannabis Inc (NYSE:ACB) has embarked on a restructuring in June. The company planned cuts in SG&A and production staff. It also announced changes at production facilities in Canada, as it plans to scale down most if its production to better align with demand.
On the other hand, Aurora Cannabis Inc (NYSE:ACB) planned to increase production at its Nordic facility in Europe to supply the European market, but also said…
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