On Oct. 17, 2018, the world watched as Canada took the monumental step of launching its nationwide adult-use cannabis market. Capital was flowing and expectations were high that leading Canadian cannabis companies could be well-poised to dominate the global cannabis game.<\/p>\n
\u201cWe are absolutely headed in the right direction,\u201d Kirk Towsaw, a longtime Canadian activist and NORML Canada\u2019s Pacific Region Director told Cannabis Now. \u201cCanada\u2019s federal legalization has shown that prohibition can end and the worst fears of prohibitionists have not manifested. This will likely have a ripple effect internationally and hasten the end of worldwide cannabis prohibition.\u201d<\/p>\n
This week, on the one year anniversary of Canada\u2019s first legal marijuana sales,\u00a0Bloomberg\u00a0<\/a>reported the market has seen 1.1 billion dollars in sales of cannabis.<\/p>\n However, the confidence in Canadian cannabis companies hasn\u2019t remained at that day-one level \u2014 at least when it comes to the stocks of some of the nation\u2019s biggest Licensed Producers (the select few dozen companies licensed to grow and distribute cannabis in the Great White North).<\/p>\n When it comes to stocks attached to that progress, a lot of the talk has been around their volatility as investors wait to see how things pan out long term. According to an Investopedia\u00a0report<\/a>\u00a0published this summer, the top three Canadian cannabis earners by revenue in the first half of Canadian cannabis sales were Canopy Growth Corp., Aurora Cannabis and Aphria. However, all three companies have seen their stock slide downhill in recent months.<\/p>\n Canopy Growth Corp\u2019s $83 Million CAD was the biggest take for a Canadian cannabis company in quarter three of fiscal year 2019, according to Investopedia.\u00a0Yahoo Finance<\/a>\u00a0noted on the company\u2019s stock volatility, but noted the experts don\u2019t even agree on what the future for the company\u2019s earnings will be. Some are expecting the stock to outperform expectations, while others think it will come up short.<\/p>\n One of Canopy\u2019s biggest backers,\u00a0Constellation Brands<\/a>, had been receiving some flak for the impact Canopy\u2019s performance. Last year, they put one of their own on to the Canopy board, Chief Financial Officer David Klein \u2014 and\u00a0last week<\/a>, he took over the board\u2019s leadership. Klein looks to right the ship after 30 years in finance.<\/p>\n \u201cI\u2019m excited to serve as Canopy Growth\u2019s new Chair of the Board of Directors,\u201d said Klein in a statement at the time. \u201cThere is no company better positioned to win in the emerging global cannabis market. I look forward to continuing to work with Canopy Growth\u2019s very talented leadership team to position the company for long-term, industry-leading profitable growth.\u201d<\/p>\n However, also last week, the\u00a0Motley Fool<\/a>\u00a0tipped Canopy as one of the cannabis stocks they don\u2019t expect to be profitable for a few years.<\/p>\n Canopy shares started the year worth $28, and peaked at $53 in late April. The stock has since cooled off and is trading around $20.<\/p>\n Aurora came in second in revenue for the third quarter in 2019 compared to other Canadian cannabis companies. The total take was $54.2 million, but only $47.6 million was from cannabis.<\/p>\n The company has entered the U.S. CBD market,\u00a0and just announced a research collaboration<\/a>\u00a0with the Ultimate Fighting Championship\u2019s Performance Institute to research CBD\u2019s impact of the recovery of the UFC\u2019s athletes.<\/p>\n Aurora\u2019s stock is worth considerably less than Canopy. It peaked this year with a value just under $10. Currently, it\u2019s sitting a little under $4.<\/p>\n Investopedia noted Aphria as one of the biggest movers in the pack this year. The $20.7 million in revenue they did in Q3 was triple the same time period the year before.<\/p>\n Aphria\u2019s stock started the year at $6. It jumped to almost $11, but has since slipped back down to a little under $5 a share.<\/p>\n TELL US,<\/strong>\u00a0do you have any cannabis stocks?<\/p>\n The post Canada\u2019s Pot Stocks Struggle a Year After Legalization<\/a> appeared first on Cannabis Now<\/a>.<\/p>\n
On Oct. 17, 2018, the world watched as Canada took the monumental step of launching its nationwide adult-use cannabis market. Capital was flowing and expectations were high that leading Canadian cannabis companies could be well-poised to dominate the global cannabis game. \u201cWe are absolutely headed in the right direction,\u201d KirkContinue Reading<\/a><\/span><\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[33,630,34,50,1228,705,170,687],"tags":[],"_links":{"self":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts\/39044"}],"collection":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/comments?post=39044"}],"version-history":[{"count":1,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts\/39044\/revisions"}],"predecessor-version":[{"id":39045,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts\/39044\/revisions\/39045"}],"wp:attachment":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/media?parent=39044"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/categories?post=39044"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/tags?post=39044"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Canopy<\/h4>\n
Aurora Cannabis<\/h4>\n
Aphria<\/h4>\n
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\nRead More: Canada\u2019s Pot Stocks Struggle a Year After Legalization<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"