Canada Cannabis Stocks could take off with the news that marijuana could protect humans from Covid-19. Let’s take a look at 3 Canadian stocks that should be on every traders radar.
Aurora Cannabis (NASDAQ: ACB)
The $2 billion Aurora Cannabis ACB in recent quarters it has been putting up attractive growth numbers with medical cannabis. In its last fiscal quarter medical cannabis revenue rose 42% year over year, as its international medical cannabis sales boosted growth, soaring 562%.
Aurora’s consumer division is growing too, rising 25% last quarter compared to the same period in the previous year. That division is responsible for things like vapes, edibles and concentrates directly to the customer.
Canada Cannabis Stocks such as ACB are really looking good.
Canopy Growth Corporation (NASDAQ:CGC)
The largest of the Canadian cannabis stocks, Canopy Growth CGC is worth more than $12 billion.
CGC owns several different brands, and it doesn’t just sell marijuana: the company sells CBD, oil, concentrates and capsules.
CGC established operations and distribution network could serve them well upon a move intothe US market. CGC is just waiting for more favorable regulations.
Canada Cannabis Stocks such as Canopy Growth Corporation should be placed on your watchlist.
Cronos Group (NASDAQ:CRON)
Cronos Group CRON reported the highest revenue growth of any major Canadian cannabis stock last quarter, 133% in the fourth quarter of 2020.
Growth was driven by blockbuster expansion in non-U.S. markets, where sales nearly tripled, going from $4.6 million to $13.5 million year over year.
While growth rates this high are certainly hard to find, CRON stock is by no means priced cheaply, with its $3.65 billion market cap representing a price-sales ratio of about 75.
Canada Cannabis Stocks are on the rise, make sure you follow Cronos Group CRON, Canopy Growth CGC & Aurora Cannabis ACB.
