The Canadian marijuana stocks we’ve unearthed have shown their resilience over the past seven days
SmallCapPower | August 16, 2019: Today we have weeded out four Canadian marijuana stocks that have demonstrated strong seven-day returns when compared to their peers. For reference the stocks were chosen from a list of 97 cannabis companies that had an average seven-day return of -11%.
*Share prices as at close August 14, 2019, data obtained from S&P Capital IQ
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Cresco Labs Inc. (CSE: CL) – $11.89
Cannabis
Cresco Labs focuses primarily on cultivating medical-grade cannabis, manufacturing medical cannabis products, and distributing products to medical patients and recreational users. Currently, the Company has one of the largest footprints in the U.S., with operations in 11 states, 23 production facilities, 56 retail licenses and 22 operational dispensaries. On August 8, 2019, the Company announced regulatory approval to acquire 100% membership interests in Gloucester Street Capital, the parent entity of Valley Agriceuticals. Valley Agriceuticlas has one of the 10 vertically-integrated cannabis business licenses in the State of New York. Visit the Company’s corporate website for more information.
- Market Cap: $1,580.9 Million
- 7-Day Return: 7%
- 30-Day Return: -7%
- 30-Day Average Daily Volume (1,000): 318
- 90-Day Average Daily Volume (1,000): 243
Invictus MD Strategies Corp. (TSXV: GENE) – $0.36
Cannabis
Invictus is an international cannabis company that focuses operations in the Canadian cannabis space for recreational and medical users. The Company’s wholly-owned subsidiary Acreage Pharms Ltd.’s Phase I and Phase II facilities are at full production with 6,600 and 33,000 sq.ft, respectively. AB Laboratories Inc., a 50%-owned subsidiary of Invictus, is in the process of building its cultivation facility expansion. Currently it has 15,000 sq.ft, but Phase II is expected to add 40,000 sq.ft. Invictus’ wholly-owned subsidiary Canandia Bioceuticals’s Delta facility received its sales license issued by Health Canada. In total, the Company currently has 58,600 sq.ft of space and is expected to have 188,600 sq.ft by Fall 2019. The Company has a partnership with GTEC that allows it to have right of first refusal to supply up to 30% of any cannabis order that GTEC wants to source from a third party. On August 14, 2019, the Company announced it subsidiary Acreage had received an oil sales license by Health Canada. On August 12, 2019, Invictus announced that Gene Simmons, the Company’s marketing and branding innovator, abdicated his position as Chief Evangelist Officer. Visit the Company’s corporate website for more information.
- Market Cap: $44.8 Million
- 7-Day Return: 0%
- 30-Day Return: -7%
- 30-Day Average Daily Volume (1,000): 101
- 90-Day Average Daily Volume (1,000): 192
Biome Grow Inc. (CSE: BIO) – $0.39
Cannabis
Biome Grow is a vertically-integrated cannabis company. The Company operates three cultivation facilities: 1) Highland Grow, a fully-licensed facility in Antigonish, Nova Scotia, which is actively producing in 6,500 sq.ft with an additional 10,000 sq.ft under construction. The Company has the option to build out the facility to 62,500 sq.ft; 2) Great Lakes Cannabis Co, based in Norwich, Ontario, which has 12,000 sq. ft in the final stages of construction with room for material expansion; 3) Back Home, a state of the art cultivation facility in Barachois Brook, Newfoundland, which currently has 18,000 sq.ft in upgrade mode and plans to expand up to 168,00 square feet in the future. Additionally, the Company has five retail licenses in Newfoundland & Labrador, two of which are expected to be opened in 2019E, with the rest potentially opening in 2020E. Biome also has a five-year exclusive supply agreement with CBD acres to purchase 20,000kg of CBD concentrate annually at competitive prices. This supply will be used to address market opportunities both domestically and, as regulations progress, internationally. On August 14, 2019, the Company announced it has been licensed for the retail sale of cannabis in Manitoba by Health Canada. This announcement comes in addition to recent approvals the Company has received to distribute cannabis products in Saskatchewan and New Brunswick. Visit the Company’s corporate website for more information.
- Market Cap: $43.0 Million
- 7-Day Return: -4%
- 30-Day Return: -4%
- 30-Day Average Daily Volume (1,000): 45
- 90-Day Average Daily Volume (1,000): 38
Lexaria Bioscience Corp. (CSE: LXX) – $1.05
Cannabis
Lexaria Bioscience develops and out-licenses disruptive delivery technology that aims to provide healthier ingestion methods, lower overall dosing and higher effectiveness of lipophilic active molecules. The Company currently has multiple patents in over 40 counties throughout the world. Lexaria’s technology helps provide increases in intestinal absorption rates, more rapid delivery to the bloodstream and, better tasting products. The Company is commercializing oral cannabinoid delivery that is up to 811% more effective when compared to ingesting generic cannabinoids. As well, Lexaria has signed eight commercial licensing agreements with brands such as Hill Street Beverages and 1906. On August 15, 2019, the Company announced that it had received four new patents, increasing the Company’s total patents for cannabinoids to 15. On August 13, 2019, Lexaria announced that its subsidiary, Lexaria CanPharm ULC., received a cannabis Research & Development license by Health Canada with a four-year term. Visit the Company’s corporate website for more information.
- Market Cap: $83.8 Million
- 7-Day Return: 2%
- 30-Day Return: 5%
- 30-Day Average Daily Volume (1,000): 57
- 90-Day Average Daily Volume (1,000): 54
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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