These Canadian marijuana stocks are top companies to watch

2023-09-26 07:00:59 ET

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Investing in cannabis? Here are the 3 best Canadian marijuana stocks

Marijuana stock

Investors try to stay alert during the last week of September. This week could be a big moment for the cannabis industry. This week, lawmakers will attempt to introduce a cannabis banking bill. If this becomes law, we could see a substantial uptick in trade. When there is a strong catalyst for the sector, cannabis stocks often start to rise. Now this is not always the case and it depends on the reason.

However, when it comes to federal reform news, this has been the biggest market move. This has also been the reason that many are still looking for

marijuana stocks to buy

. In the absence of federal reforms, there is still some degree of volatility. What seems to be the biggest reason for the increase in volatility is the lack of better reforms. Some still believe that federal regulators may shut down the industry or find a way to make it harder to operate.

But with how much progress and success has been made, it is doubtful that a federal shutdown will ever happen. Right now is seen as a time to invest in the future of cannabis as there is still more to be done. When something new happens, such as strategic partnerships or new products, it leads to new investment opportunities. Make sure you do your research and try to come up with a plan that will allow you to see the best opportunities for profit taking. The companies below are

top marijuana stocks to watch

heading into October.

Top Marijuana Stocks to Watch Now 2023

Canopy Growth Corporation

(

NASDAQ:CGC

)
Aurora Cannabis Inc.

(

NASDAQ:ACB

)
Neptune Wellness Solutions Inc.

(

NASDAQ: FAKE

)

Canopy Growth Corporation

Canopy Growth Corporation, together with its subsidiaries, engages in the production, distribution and sale of cannabis and hemp-based products for recreational and medical purposes primarily in Canada, the United States and Germany. On September 18, the company announced a private placement of up to US$50 million.

The purpose of the offering is to provide the company with additional liquidity of up to US$50 million to further strengthen Canopy Growth’s financial position and is expected to be used for working capital and other general corporate purposes.

Aurora Cannabis Inc.

Aurora Cannabis Inc. together with its subsidiaries, produces, distributes and sells cannabis and cannabis-derived products in Canada and internationally. It operates in three segments: Canadian cannabis, European cannabis and plant propagation.

In recent news, the company launched a bold new brand Lekker’s into the adult-use cannabis market. Anchored by a disruptive brand identity, TASTY’S today celebrates its market launch in Toronto at Hall of Flowers, a premier cannabis trade show.

Words from the company

“We couldn’t be more excited to bring a net new brand to the Canadian market, and especially one that is as powerful as TASTY’S and caters to the rapid growth of the pre-roll segment,” said Geoff Hoover, Senior Vice President, Consumer at Aurora.”

Neptune Wellness Solutions Inc.

Neptune Wellness Solutions Inc. operates as a consumer packaged goods company in Canada, the United States and internationally. The company announced a public offering of $4.5 million. The pricing of the public offering of 1,800,000 shares of common stock. As well as associated warrants for the purchase of a total of 1,800,000 ordinary shares.

This would be at a combined public offering price of US$2.50 per share and associated warrant. This could result in gross proceeds of approximately US$4.5 million. The warrants have an exercise price of US$2.50 per share, are exercisable immediately upon issuance and expire five years from the date of issuance.

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