Posted on

canadian marijuana growing companies

Canadian marijuana growing companies

Market Cap: $1.621B

Canopy (CGC) is touted as Canada’s first unicorn in the pot market. While the company sells its product under various brand names, the brand “Tweed” has the most recognition, thanks to its affiliation with rapper Snoop Dogg. The company began trading on the New York Stock Exchange (NYSE) on May 24, 2018. Canopy stock is up about 17% year-to-date.

4. The Cronos Group

Market Cap: $39.445M

Here's a look at some of those companies. All figures are accurate as of November 2020.

3. Aphria

While uncertainty prevails in the United States, investors could throw their hands into the pot (no pun intended) by investing in Canadian stocks that are either listed on major exchanges or traded in the over-the-counter (OTC) markets. Most of these stocks can be labeled as penny stocks.

Canadian marijuana growing companies

As more and more states legalize marjiuana, federal legalization in the U.S. seems inevitable. Not only are more states passing legislation to permit recreational use, but a vast majority of Americans also support legalization. According to a recent survey, Pew Research found that 91% of people in the U.S. believe marijuana should be legal for either medical or recreational use, with 60% in favor of both. President Joe Biden is in favor of decriminalizing marijuana, while Senate Majority Leader Chuck Schumer is ready to push ahead with full legalization efforts even if Biden isn’t completely on board just yet.

These cannabis producers already have a presence south of the border.

Image source: Getty Images.

1. Canopy Growth

When legalization happens, there are many Canadian cannabis producers that will be ready to expand their presence south of the border. Canopy Growth (NASDAQ:CGC) , soon-to-be-joined Aphria (NASDAQ:APHA) and Tilray (NASDAQ:TLRY) , Cronos (NASDAQ:CRON) , and Aurora Cannabis (NASDAQ:ACB) could be some of the biggest winners if (or, when) the U.S. pot market opens up.