The Top 3 best performing U.S. cannabis stocks trading in Canada have IPO’d/RTO’d since September 2018
SmallCapPower | December 21, 2018: American cannabis companies have limited access to capital markets so many have flocked to the CSE, raising over $1.5 billion in 2018, according to the Toronto Star, surpassing their Canada-based counterparts. Given the market opportunity, U.S.-based cannabis stocks are attracting significant interest. To illustrate, Scotiabank estimated that the American cannabis market could be worth up to $65B per year, which is ~10 times greater than the Canadian market according to Scotia. Currently, 10 states have legalized cannabis for recreational use and 33 have legalized medical use. Today, we have identified the top 3 best performing Canada-listed U.S. cannabis stocks that IPO’d/RTO’d in 2018.
*Share prices are as at close 18-Dec-2018.
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Charlotte’s Web Holdings Inc. (CSE:CWEB) – $12.79
Cannabis
Charlotte’s Web is a fully vertically integrated, CBD-focused company with operations based in Boulder, Colorado. The Company leases or has contracts in place for over 300 acres of farmland in Colorado, Kentucky, and Oregon, which produces 250K-350K pounds of industrial hemp annually. CWEB also operates a 40,000 sq. ft manufacturing facility, a 23,000 sq. ft warehouse, packaging, and distribution center.
- Market Cap: $1,190.8 million
- Listing Date: September 12, 2018
- Listing Price: $7.00
- % Change: + 82.7%
Trulieve Cannabis Corporation (CSE:TRUL) – $10.46
Cannabis
Trulieve is a “seed-to-sale” operation in the state of Florida, with plans to acquire additional facilities outside of Florida in 2019. The Company operates a 507,000 sq. ft facility, yielding 19,500 kg annually. Additionally, Trulieve has expansion plans to add another 127,500 sq. ft, which would increase production by 10,215 kg. TRUL also has a network of 20 dispensaries selling branded products, with a total of 125 stock keeping units (SKUs) and 94,000 patients. Cannabis is currently only legal for medical use in Florida.
- Market Cap: $1,168.6 million
- Listing Date: September 25, 2018
- Listing Price: $6.00
- % Change: + 74.3%
Plus Products Inc. (CSE:PLUS) – $4.25
Cannabis
Plus Products manufactures cannabis products in California. It offers cannabis-infused edibles to the medicinal and recreational markets. The Company sells products under the PLUS brand to dispensaries and delivery service customers. PLUS has a 12,000 sq. ft manufacturing facility for edibles in Adelanto, California. According to BDS Analytics GreenEdge, Plus brand edibles are one of the Top 5 edibles brands in California.
- Market Cap: $104.1 million
- Listing Date: October 29, 2018
- Listing Price: $3.25
- % Change: + 30.7%
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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