As Canada fully legalized marijuana just a month ago and retail locations in its provinces started last week, the country has easily made itself as a G7 nation with the biggest marijuana market sector.
Throughout the more recent years, a variety of factors has shifted investing in marijuana from the underground to the mainstream, attracting all sorts of people, and well, dollars. Lots of it. This means that if you plan on dipping your toes in the green movement, now’s the time to do it, as the upstart legal cannabis industry is gaining a strong following not just from pot smokers and medical users, but people who do business in various fields.
So, if you’re planning on joining the fray, here are top Canadian stocks to watch out for. Take your pick, and let the greens start rolling:
Invictus MD Strategies
First established in 2014, Invictus MD Strategies Corp. (OTCMTKS:GENE) is an international cannabis company that drives sustainable long-term shareholder value through a diversified product portfolio. Offering a wide selection of products distributed through different brands, the company follows a sales approach that takes in the five pillars of distribution. With supply agreements in both British Columbia and Alberta, plus a collaboration with New York-based company Authentic Brands Group (ABG) for a lifestyle cannabis collection, the company remains one of the strongest players active in the sector today.
FSD Pharma
A licensed producer of cannabis-based in Canada, FSD Pharma (OTCMKTS:HUGE) made history on its first day of trading under the Canadian Stock Exchange by breaking the all-time daily record of most volumes traded in a single day.
Placing a high importance on the development of indoor-grown pharmaceutical grade cannabis, the company is currently in the process of transforming a former Kraft facility into the world’s largest hydroponic indoor cannabis farm. As part of its strategy of entering the market, the company has also placed investments on Cannara Biotech Inc., High Tide Inc., and SciCann Therapeutics.
Cronos Group Inc.
Cronos Group Inc. (OTCMKTS:CRON) is a Toronto-based weed company that’s powered by recreational marijuana sales. While the company went through a rather big loss of CA$7.04 million, its management assured that it can easily recover as it is expected to harvest its marijuana crops by the end of 2018. With the company’s focus on recreational sales, the company can easily take advantage of the new legalization, making it a solid company to invest on for first-time investors.
With the Canadian marijuana market set to become bigger as the months go by, investing in a marijuana-centric company is a good way to start. Of course, investing in marijuana comes with risks, as all investments do. So study the trends, watch what the companies are doing, and ride the green movement all the way to profit.