CGC

Canopy Growth Corporation

24.4300
USD
2.60%
24.4300
USD
2.60%
9.0000 26.9500
52 weeks
52 weeks

Mkt Cap 9.09B

Shares Out 372.05M

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Why Canadian Marijuana Stocks Soared Today

What happened Canadian marijuana stocks haven't exactly been the belle of the ball with investors in recent months. But the dance was much different on Thursday, as statistics from the industry grabbed investors' attention and didn't let go. As a result, the leading north-of-the-border pot companies all saw lifts in their share prices to varying degrees. Sundial Growers (NASDAQ: SNDL) rose by almost 3%, HEXO (NASDAQ: HEXO) advanced 4%, Tilray (NASDAQ: TLRY) wafted more than 5% higher, and Canopy Growth's (NASDAQ: CGC) increase topped 10% on the day. So what None of the four companies had any serious price-shifting news to report. Rather, it was the pot industry figures released by Statistics Canada that lit their shares on fire. The government agency said that recreational marijuana sales in the country hit an all-time monthly high of nearly 360 million Canadian dollars ($281 million) in March. That figure was almost 11% higher than the February tally, which is impressive even given that March had three more days than February. As ever, the leading province for sales was the most populous one, Ontario, with the nation's capital, Ottawa, and its largest city, Toronto. Mirroring the national rate, the province's residents bought nearly 11% more cannabis in March than they did in February, for a total of just under CA$145 million ($113 million). Meanwhile, the Western province of British Columbia recorded a 21% month-over-month increase, to over CA$56 million ($44 million). Now what Given those sorts of growth numbers and the record total, it's no wonder that investors are suddenly getting more excited about Sundial, HEXO, Tilray, and Canopy Growth. All four are active throughout the country, and are thus poised to benefit from further growth spurts in the sale of recreational weed. Here's The Marijuana Stock You've Been Waiting For A little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom. And make no mistake – it is coming. Cannabis legalization is sweeping over North America – 19 states plus Washington, D.C., have all legalized recreational marijuana over the last few years, and full legalization came to Canada in October 2018. And one under-the-radar Canadian company is poised to explode from this coming marijuana revolution. Because a game-changing deal just went down between the Ontario government and this powerhouse company...and you need to hear this story today if you have even considered investing in pot stocks. Simply click here to get the full story now. Eric Volkman has no position in any of the stocks mentioned. The Motley Fool recommends HEXO. The Motley Fool has a disclosure policy. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Founded in 1993 in Alexandria, VA., by brothers David and Tom Gardner, The Motley Fool is a multimedia financial-services company dedicated to building the world's greatest investment community. Reaching millions of people each month through its website, books, newspaper column, radio show, television appearances, and subscription newsletter services, The Motley Fool champions shareholder values and advocates tirelessly for the individual investor. The company's name was taken from Shakespeare, whose wise fools both instructed and amused, and could speak the truth to the king -- without getting their heads lopped off.

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