This Is THE Marijuana Stock to Invest In

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Canada is set to legalize recreational marijuana in July 2018. This means that Canadians are going to have a new substance to use recreationally. It also means that investors have a new sector of the Canadian market in which to invest. How do you get in on the ground floor? Check out the marijuana stock in Canada to buy now.

Canopy Growth (NASDAQOTH:TWMJF) is a notable marijuana stock to invest in.

Canopy is a market-share leading producer of marijuana. It’s medical marijuana market share is impressive, at nearly 30%. This makes Canopy perfectly positioned to profit from the upcoming opening of Canada’s recreational marijuana market.

If Canada’s plans to legalize recreational weed go without any issues, then investments in production will likely allow Canopy Growth to reward investors with significant growth over the upcoming years. This means, that for people looking at marijuana stocks, Canopy Growth is a great investment idea.

Canopy Growth is successful in Canada, but also in other markets.

It is a fast growing company positioning itself for even more success. Canopy Growth, a medical marijuana company with significant growing capacity, sells 45 marijuana products through its Tweed Main Street online store. It’s products include dry flower, oils, and even soft gel capsule products. This impressive and diverse product line makes Canopy Growth a marijuana stock to invest in.

Canopy Growth is a marijuana stock in Canada that should be considered when investing for other reasons.

It boasts an impressive 600,000 square feet of licensed indoor and greenhouse production space. According to the company’s management, Canopy Growth has more licensed in-production square feet than any of its competitors in Canada. The company plans to develop an additional 5 million square feet of growing space, intended to allow it to meet potential demand when Canada’s recreational market opens in July 2018.

Once recreational marijuana is legalized in Canada, Canopy Growth’s sales are likely to skyrocket.

However, Canopy Growth’s latest quarterly earnings report shows that the company is already enjoying rapid growth. Which is likely thanks to growing demand from Canada’s medical marijuana market.

Although marijuana stocks are still relatively new, Canopy Growth seems likely to be one that will have continued success due to preexisting and historical factors.

Canopy Growth sold a record 2,330 kilograms (approximately 5137 pounds) last quarter. This figure is up 87% year over year, and up 15% quarter over quarter. Canopy Growth earned an average CAN$8.30 per gram in the quarter, which was up from CAN$7.36 last year. This growth is presumably due to unit volume and pricing power.

Additionally, Canopy Growth’s sales increased 123% year over year and 24% quarter over quarter to CAN$21.7 million.

This does not seem to be the top of the mountain for Canopy Growth, further making it among the marijuana stocks in Canada to invest in. The company’s rapid sales growth is probably due in large part to the number of registered medical marijuana patients it serves more than doubling in the past year to 69,000.

This increase is likely to only keep growing, especially as recreational marijuana is set to be legalized.

In anticipation of this change in marijuana’s legal status, Canopy Growth has been significantly increasing its production capacity. This entails the company stockpiling inventory, and also taking steps to make sure it is marketing products well. The Canopy Growth’s management has stated that their company already has more harvested inventory on hand than any of its competitors–and we are still a number of months out from the date at which recreational marijuana will be legalized in Canada.

For individuals looking for marijuana stocks to invest in, they should keep an eye on the Canadian market and specifically Canopy Growth. Canadians are anticipated to have a great time this summer. Don’t let this investment opportunity go up in smoke.

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