CGC - Canopy Growth vs. SNDL vs. Tilray Brands: What's the Best Pot Stock to Buy If You're Bullish on Legalization?
2024-06-07 04:52:00 ET
Many cannabis investors are showing signs of bullishness again now that the U.S. government announced it moved forward with efforts to reschedule marijuana into a less serious drug regulatory category. The recategorization doesn't mean that marijuana legalization in the U.S. is inevitable, but it's a clear sign of a change in regulatory attitude on the substance that suggests legalization is a more of a possibility.
Three Canadian-based cannabis stocks that could benefit the most from legalization in the U.S. market are Canopy Growth (NASDAQ: CGC) , Tilray Brands (NASDAQ: TLRY) , and SNDL (NASDAQ: SNDL) . Here's a breakdown of their respective businesses and which one may be the best option for investors who are bullish on the prospects for legalization.
Ontario-based Canopy Growth has been making moves in anticipation of legalization in the U.S. for years, dating back to 2019 when it first announced plans to acquire multi-state operator Acreage Holdings . While legalization still hasn't taken place, it hasn't stopped Canopy from trying to find ways to close on its acquisition of Acreage and other U.S.-based cannabis businesses.
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Canopy Growth vs. SNDL vs. Tilray Brands: What's the Best Pot Stock to Buy If You're Bullish on Legalization?