Cannabis Stocks Show No Sign Of Slowing Down
Publicly traded stocks of everything marijuana related has been all the rage in the investment scene. A small slow down leading into August was reinforced with a huge spike when Constellation Brands dropped a cool $3.8 Billion investment in Canopy Growth Corp., restoring growth for cannabis stocks.
The North American Marijuana Index, or NAMMAR, has gained over one hundred and forty percent, since its 1 year low hit nearly a year ago on September 7th, 2017. Comparatively, the S & P 500 gained a mere 7 percent during the same timeframe.
Constellation Brands investment shocked brokers while assuring the cannabis market continued growth as the NAMMAR improved another 50 points since then.
Photo of NAMMAR courtesy of Bloomberg.
Market prices continue strong gains overall across the board. Shares of Canopy Growth Corp. hit a high of $69.20 with end year projections for by Wall Street at $78.00. Canadian headquartered, Tilray is up an astounding 343 percent since it mid-July IPO as shares hit the $77.00 mark. Another notable mention and well followed pot stock is Aurora Cannabis Inc. which had large gains after the Constellation Brands announcement as well as Aurora purchasing an additional 8% of The Green Organic Dutchman.
Canadian Pot Stocks
North of the border, in Canada, the TSX is seeing major gains which have continued since the Liberal government announcing the legalization date of October 17th, 2018. Aphria Inc., Health Canada’s third-largest producer by licensed volume, is sharing at $11.10. Considerable mentions go to Emblem Corp. and Sunniva Inc., furthermore, stocks to watch include MPX Bioceutical Corp., Supreme Cannabis Company Inc. and Cannex Capital Holdings Inc.