Top 5 Canada Stocks To Invest In
Canada has swiftly become one of the leading countries in the marijuana industry. With weed now legal across the country, many major companies dealing in recreational marijuana, medical marijuana, and CBD have become huge points of interest for investors. If you’re looking for a solid investment with a lot of potential for growth, then it’s time to check out some of the top Canada stocks to invest in.
These companies range from cannabis behemoths to up-and-comers with promising futures. It’s always best to do as much research as possible before you invest and make sure you diversify your portfolio to avoid too much financial risk. However, with the legal marijuana market in Canada estimated to be worth $5.2 billion by 2024, it’s a great time to invest. Here are the top 5 Canada stocks to invest in.
1. Canopy Growth Corp. (NYSE: CGC)
Canopy Growth Corp. was initially founded in 2013 in Ontario under the name Tweed Marijuana Inc. Since then, it’s gone on to become the biggest cannabis company in the world and a huge fixture on the stock market. Canopy Growth Corp. started publicly trading on the New York Stock Exchange in May 2018 and is now one of the top Canada stocks to invest in.
The company sells recreational and medical marijuana products under various brand names, including their flagship ‘Tweed’ brand. It also handles every part of the process from growing to research and manufacturing innovative cannabis products, giving it huge potential for even further success.
Canopy now has operations all over the world, including expansions into Australia, Jamaica, Chile, Brazil, and numerous European countries. It’s also well known for its $4 billion partnership with Constellation Brands, a move that seems to have benefited both parties. If you’re looking for a cannabis company that keeps growing, Canopy is a good call.
2. Aurora Cannabis (OTC: ACBFF)
Along with Canopy Growth Corp., Aurora Cannabis is one of the biggest and most promising Canadian cannabis companies. As of last year, Aurora had an annual production capacity of 625,000kg of cannabis. The company supplies patients and users all over Canada, as well as having international operations in a whopping 24 countries.
While Aurora has been slipping on the stock market recently, it’s been making big moves to expand into new markets. For instance, its recent acquisition of HempCo Food and Fibre, a Vancouver-based hemp company, will be huge for expansion considering the enormous popularity of CBD products today. With more dispensaries opening across Canada this year, there’s also much room for growth in the cannabis consumer market.
With its rocky status on the stock market, some users may be wary about investing in Aurora Cannabis. However, with stocks being lower than usual at 7.38 CAD and the company making long-term moves to increase their success, it could be a good time to invest in the marijuana behemoth.
3. Auxly Cannabis Group (OTC:CBWTF)
If you’re looking for a fast-rising cannabis stock with enormous potential for growth, then look no further than Auxly Cannabis Group. While Auxly doesn’t have the same name recognition as Canopy or Aurora (yet) their unique business plan has them on a trajectory to success, as shown by their 342% in quarterly earnings this summer.
Auxly Cannabis Group is set to grow even further thanks to its vast array of streaming partners. While these were initially announced in 2017, many partners are still working on gaining licensing and setting up their operations. As we move into 2020 and these partnerships start paying off, Auxly will begin to show more of its huge potential.
The company is also unique in its focus on non-flower products. With dry flower having lower profit margins, Auxly Cannabis Group wants to focus more on high-margin products such as tinctures, vape-oils, edibles and concentrates. With stocks priced at just 0.90 CAD, Auxly Cannabis Group is by far one of the best Canada stocks to invest in right now.
4. Green Organic Dutchman (OTC:TGODF)
The Green Organic Dutchman is an underrated Canada cannabis stock that’s projected for high growth in 2020. The company is constantly expanding its potential, recently increasing its annual production capacity to 17,500 kg. With a range of high-quality facilities and a solid plan for the future, The Green Organic Dutchman is well worth looking into.
TGOD stocks recently experienced a surge in the stock market as the company renewed its licenses with Health Canada until 2022. In addition to its enormous potential for production, the recent developments show that The Green Organic Dutchman is a futureproof cannabis company with the potential to become a leading name.
The Mississauga-based company plans to focus on high-margin derivative marijuana products such as organic cannabis oils and edibles. TGOD has clear potential for growth and even offers valuable information for investors on its website. Check this stock out before it gets too high.
5. HEXO (NYSE:HEXO)
HEXO (previously known as the Hydrothecary Corp) is an interesting Canada stock for numerous reasons. The Quebec-based company now supplies cannabis products to legal dispensaries in major Canadian cannabis provinces such as Ontario and Alberta, as well as having a lucrative five-year deal as the preferred cannabis supplier for Quebec.
The company now has 1.8 million square foot of production facilities across Canada and is also looking to expand globally. HEXO has also made some major deals, such as its recent acquisition of Newstrike Brands and its collaboration with Molson to create cannabis-infused drinks by the end of the year.
If you’re interested in a long-term play, then HEXO is well worth considering. With many interesting things happening for the company it looks like their stock has the potential to surge over the next couple of years.
These are some of the best Canada cannabis stocks to invest in, but there are plenty of other stocks worth considering such as Aphria Inc., The Cronos Group, CannTrust Holdings Inc., and OrganiGram Holdings. No matter where you decide to put your money, keep in mind that investing is always a risk and sometimes you have to be patient to make big earnings. With that said, it’s an amazing time to invest in Canada stocks as the cannabis market continues to grow.