Start the conversation
Comment on This Story
Or to contact Money Morning Customer Service, click here.
Money will flood into the Canadian marijuana market on Oct. 17, the day our neighbors up north legalize all marijuana use.
And it could send the share prices of Canadian marijuana stocks absolutely vertical...
Even before full legalization, legal cannabis sales in North America were expected to skyrocket 145% from $10 billion in 2017 to $24.5 billion by 2021.
That means those projections may be too conservative with Canada on the edge of a full-blown cannabis revolution.
That's why we wanted to provide you with a list of three Canadian marijuana stocks to watch before Oct. 17. While these aren't our recommendations (we'll show you how to access those later), they are some of the most talked-about pot stocks on the market.
And the first Canadian pot stock on our list just made a 25 million--Canadian dollar acquisition to "complement and accelerate" new types of consumer products...
Canadian Marijuana Stocks to Watch in October, No. 3: Canopy Growth
On Oct. 15, Canopy Growth Corp. (NYSE: CGC) announced it would acquire the assets of ebbu Inc., a cannabis research company.
Aside from CA$25 million, Canopy will also issue 6,221,210 common shares of CGC.
And there are three words in particular from the press release that caught our attention...
Cannabis-infused beverages are gaining traction, with legacy companies like PepsiCo Inc. (NASDAQ: PEP) and Coca-Cola Co. (NYSE: KO) eyeing the market to bolster sluggish soda sales.
Canaccord Genuity projects the marijuana-infused beverage industry will be worth $600 million by 2022.
That may sound small compared to the $10 billion in legal cannabis sales in 2017, but remember, this is a completely new category.
It's not going to take long before cannabis-infused beverages become a billion-dollar segment in the marijuana market, a segment Canopy could dominate with this acquisition.
Critical: Speaker Boehner Heads America's First-Ever Cannabis Summit
The next Canadian marijuana stock on our list has the whole investing world talking, as the stock price has climbed 500% in less than six months...
Canadian Marijuana Stocks to Watch in October, No. 2: Tilray Inc.
Tilray Inc. (NASDAQ: TLRY) cultivates and distributes medical marijuana across the globe, including Australia, Germany, and South Africa.
And shareholders of TLRY have been on a wild ride in the past month...
On Sept. 11, shares opened at $89.16. Just eight days later, the TLRY stock price reached an all- time high of $300 per share on Sept. 19.
Things have calmed down, with TLRY opening at $155 per share on Oct. 15.
In the short term, it would be hard for Tilray to replicate these gains over the next year.
However, most investors also never thought TLRY could go public on July 19 at $23.05 a share, and the stock price would climb 1,201% in two months to $300 per share on Sept. 19.
And that brings us to the last Canadian marijuana stock to watch on our list.
This Canadian cannabis company has a unique growth strategy that has almost doubled its investments to nearly $1 billion.
That's on top of its own revenue, making this one of the best Canadian marijuana stock to watch ahead of legalization...
