The “new” Tilray already has a presence in the U.S. market with hemp foods maker Manitoba Harvest and craft beer maker SweetWater Brewery. It won’t be surprising if the company makes additional acquisitions to position itself for a potential entrance into the U.S. cannabis market when federally permissible.
Aurora Cannabis (NASDAQ:ACB) comes in last on the ranking of Robinhood marijuana stocks primarily because it appears to be heading in the wrong direction on several fronts. The company’s revenue fell 25% year over year in its latest quarter. Aurora yet again reported a huge net loss.
Cronos Group (NASDAQ:CRON) is another Canadian cannabis producer with a connection to a tobacco giant: Altria owns 45% of Cronos. The big investment by Altria gave Cronos a nice cash stockpile to use in expanding.
However, Cronos isn’t anywhere close to profitability yet. It isn’t even moving in the right direction to generate positive adjusted EBITDA.
Which of these stocks are worthy of consideration and which should be avoided? Here are the most popular marijuana stocks on Robinhood ranked from best to worst.
Both Tilray and Aphria generated positive adjusted EBITDA in their most recent quarter prior to the merger. However, Aphria (which was the dominant player in the transaction) saw its revenue fall compared to the previous quarter.
Canopy Growth (NASDAQ:CGC) takes the top spot among the popular Robinhood marijuana stocks for three key reasons. First, it’s already a major player in the global cannabis market. Canopy is one of the leaders in the Canadian recreational market as well as the German medical cannabis market.
Continue reading to get all the details you need to capitalize on the excitement around the cannabis industry.
While marijuana investing has been more discrete in the past, product offerings and further research and development are expected to increase. Additionally, seven states have legalization measures on the 2020 ballot, meaning that an increase in demand could see growth for cannabis investing.
Whether you’re new to marijuana investing, or looking to expand your knowledge, our complete guide to investing in cannabis will walk you through:
Why Should You Consider Investing in Cannabis?
Even in a fluctuating market, the cannabis industry is one you don’t want to ignore. Deemed “essential businesses,” cannabis companies continue to be relied upon for regulated cannabis products and have the potential to generate ample tax revenue and create numerous new jobs.
In recent years, many nations around the world and states within the U.S. have seen the legalization and acceptance of cannabis for recreation and medicinal uses. This has led to a surge of new cannabis-related companies focused on the research, development, manufacturing, distribution, and sale of marijuana products.
As the marijuana industry grows, many investors have taken notice, leading them to consider cannabis investing as a lucrative portfolio addition. But in a quickly changing stock market, what are the potential risks and rewards of investing in marijuana and which marijuana stocks are the best to buy now? Is investing in the marijuana industry really a “green gold rush?”
Year-over-year increase in jobs related to legal cannabis operations according to Leafly’s annual Cannabis Jobs Report.