ACB - Top Canadian Marijuana Stocks To Watch Right Now 2024
2024-05-31 09:29:28 ET
Big Gains Can Come From These Marijuana Stocks
Marijuana stock investors are seeing the continued volatile action in the sector. There are more unknowns regarding reform and regulations that lead to more speculative trading. Still, the interest in finding the best marijuana stocks to buy comes into play. Investors want to be prepared for the next phase of the green rush in the market. What this could look like on the way to better trading is as follows. To start it’s an election year and President Joe Biden has already voiced his support for cannabis reform.
He has also begun small pardons for certain cannabis offenders. Even though advocates feel he isn’t moving quickly enough. Yet this along with the DEA moving on rescheduling cannabis has all led to an influx in trading. The idea of what can take place with more political support and a drop from class 1 to class 3 narcotics opens many doors.
However, this is still one of the unknowns as there is still much to be done in this area once it takes effect. More people watching the market are developing game plans to leverage what is taking place in the stock market for cannabis stocks. A good strategy based on thorough due diligence can offer better odds of seeing better gains. The companies mentioned below are several cannabis stocks to watch this month.
Top Marijuana Stocks To Watch Now
- Canopy Growth Corporation ( NASDAQ:CGC )
- Tilray Brands, Inc. ( NASDAQ:TLRY )
- Aurora Cannabis Inc. ( NASDAQ:ACB )
Canopy Growth Corporation
Canopy Growth Corporation, together with its subsidiaries, engages in the production, distribution, and sale of cannabis and hemp-based products for recreational and medical purposes primarily in the United States, Canada, Germany, and internationally. The company has reported its Q4 and fiscal 2024 financial results in recent news.
Highlights And Key Mentions
- Storz & Bickel® net revenue in Q4 FY2024 increased 43% as compared to Q4 FY2023 to $22 MM driven by strong sales of the new Venty portable vaporizer
- Canada medical cannabis delivered its 5th consecutive quarter of revenue growth in Q4 FY2024 with revenue increasing by 16%
- International markets cannabis net revenue in Q4 FY2024 increased 32% as compared to Q4 FY2023 to $12 MM
- Consolidated Gross Margins in Q4 FY2024 improved to 21% due to cost reduction activities.
Tilray Brands, Inc.
Tilray Brands, Inc. engages in the research, cultivation, processing, and distribution of medical cannabis products in Canada, the United States, Europe, Australia, New Zealand, Latin America, and internationally.
Recently the company announced the launch of Twisted All-In-One Vapes. This product gives the ability to switch between complimentary flavors or combine them for a “twist”. The vape creates a unique third-flavor experience of the two flavors enjoyed together.
Aurora Cannabis Inc.
Aurora Cannabis Inc., together with its subsidiaries, produces, distributes, and sells cannabis and cannabis-derivative products in Canada and internationally. It operates through three segments: Canadian Cannabis, European Cannabis, and Plant Propagation.
On May 15th the company announced the appointment of a new director. The appointment of Rajesh Uttamchandani to the Company’s Board of Directors has already gone into effect. Mr. Uttamchandani joins the Board with notable expertise in strategy development, innovation, human capital, and governance.
[Read More] Top Cannabis Penny Stocks to Consider in June
Words From The Company
“I am very pleased to be welcoming Raj to our Board of Directors. He brings a breadth of knowledge and capability from a variety of sectors and disciplines that will undoubtedly be additive to Aurora and complement the existing strength of our Board.”