The Canadian cannabis stocks we’ve dug up have rebounded the most following the marijuana sector-wide low hit on October 29, 2018
SmallCapPower | November 9, 2018: Today we have identified four Canadian cannabis stocks that have rebounded significantly following the sector-wide selloff that ended October 29, 2018. Although several cannabis stocks have posted positive returns over the past week, the four stocks listed here rank among the highest returning cannabis stocks over the period. In comparison, Canopy Growth Corp. (TSX:WEED), the largest cannabis company traded on a Canadian exchange, posted returns of +25.1%. The industry rallied towards the end of the trading day on November 7, 2018, as news broke that U.S. Attorney General Jeff Sessions, perceived by the markets to be against any cannabis deregulation, had resigned. Note: all prices reflect closing prices as at November 7, 2018.
Beleave Inc. (CSE:BE) – $0.25
Beleave is a Canada-based biotech company with a focus on the production of medical marijuana. The Company is working towards the development of patented research with Canadian institutions, as well as the research and development of cannabis-based therapies, such as smoke harm reduction products, portable and stationary vaporizers and accessories. Beleave Inc’s purpose-built facility is located near Hamilton, Ontario. The Company is planning to expand the facility to 80,000 sq. ft. throughout 2018, with a total expected production capacity of 32,000 kg/year. On October 26, 2018, Beleave announced it had signed an agreement with Canymed to supply the German medical cannabis market.
Khiron Life Sciences Corp. (TSXV:KHRN) – $1.78
Khiron Life Sciences is a Canadian medical cannabis company with operations in Colombia. The Company is focused on scientific and medical-based research applications for cannabis. Khiron estimates a potential market of six million patients in Colombia, with the intention of targeting an estimated 68M patients throughout Latin America upon future expansion. In 2017, Khiron was granted cultivation and production licenses in Colombia for both low and high THC strains. The Company intends to open its first clinics in Q4/2018. On October 23, 2018, Khiron announced it had signed a definitive agreement to acquire a network of clinics in Colombia representing 100,000 patients.
Tilray Inc. (NASDAQ:TLRY) – US$139.60
Tilray is a company focused on medical cannabis research, cultivation, and distribution. The Company operates internationally through its subsidiaries in Australia, Canada, and Germany. Tilray’s stock price climbed after it announced on September 13 that it had obtained regulatory approval to export flower-based products to Germany. This supplements the oil-based products Tilray already exports to Germany. The stock has experienced high levels of volatility amidst significant short-selling pressure from notable research firms, including Citron Research.
Cannex Capital Holdings Inc. (CSE:CNNX) – $0.82
Cannex, through its wholly-owned subsidiaries, provides a wide range of services including real estate, management, financial, branding and IP to licensed cannabis business operators domestically and internationally. The Company focuses on premium indoor cultivation, extraction, manufacturing and branding of edible and derivative products as well as retail operations. Cannex is undertaking expansion initiatives to support the acquisition and development of additional assets in legal medical and recreational cannabis markets. On November 1, 2018, Cannex announced it had completed a strategic investment into Soma Group, a New Zealand-based cannabis start-up involved heavily in research and development.
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Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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