Are You Watching These 4 Marijuana Stocks?
Last week was another eventful week for the marijuana industry. Aurora Cannabis (ACBFF) applied to list its shares on a “senior” exchange, tobacco titan Altria Group Inc. (MO) seemingly exhibiting interest in cannabis cultivator Aphria Inc. (APHQF), and retail giant Walmart Inc. (WMT) confirmed doing “some preliminary fact-finding” regarding retailing marijuana-based products in its stores.
The momentum that we are seeing in the industry’s progression is certainly not going to slow down, especially this week. On Wednesday, Canada is set to become the first G7 nation in the world to legalize recreational marijuana, putting nine decades of recreational marijuana prohibition to an end, launching adult-use recreational sales throughout the nation.
The additional billions to be generated by recreational legalization has not only the Canadian economy excited, but cannabis investors alike. The North American Marijuana Index, which tracks the leading cannabis stocks operating in the U.S. and Canada, is up over 167% in the last trailing year. The index’s top 5 holdings by market cap include:
- Tilary Inc. (TLRY)
- Aurora Cannabis Inc (ACBFF) (ACB)
- Canopy Growth Corp. (CGC) (WEED)
- Aphria Inc (APHQF) (APH)
- GW Pharmaceuticals Plc (GWPH)
As we head into the days prior to Canada’s big move, it’s important for the markets to pay close attention to the developments from companies within the sector.
