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What are the best cannabis stocks to buy in 2021? Here’s a look at some of the hottest stocks in the industry right now.
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Aurora Cannabis (ACB)
Overview
Aurora Cannabis Inc. is a Canadian licensed cannabis producer, headquartered in Edmonton. It trades on both the Toronto Stock Exchange and the New York Stock Exchange as ACB. The company produces and sells medical cannabis products in various countries around the world.
Aurora received Health Canada approval to begin selling cannabis products for adult recreational use in December 2017, and began selling these products in Alberta in January 2018. In 2018, the company acquired MedReleaf, a Canadian licensed producer of medical cannabis, for C$3.2 billion. This made Aurora one of the world’s largest cannabis companies by market capitalization.
In 2019, Aurora significantly expanded its international footprint with the acquisitions of ICC Labs Inc., a leading South American producer of medical cannabis, and Farmacias Magistrales S.A., a Mexican pharmaceutical import and distribution company with a license to distribute medical cannabis products in Mexico.
Recent Developments
In recent months, Aurora Cannabis (ACB) has made a number of announcements that have investors excited about the company’s prospects in 2021.
First, in November 2020, ACB entered into a strategic partnership with French cosmetics giant L’Oreal. The two companies will work together to develop and commercialize cannabis-based skincare products. The deal is a major coup for Aurora and is expected to help the company gain a foothold in the lucrative global cosmetics market.
Second, in December 2020, ACB announced that it had entered into a joint venture with Colombian pharmaceutical company Farmacias Magistrales to develop and commercialize medical cannabis products in Latin America. The joint venture gives Aurora a significant presence in one of the world’s most promising markets for cannabis-based therapeutics.
Third, in January 2021, ACB announced that it had completed the acquisition of UK-based drinks company Cannaray. The acquisition gives Aurora a strong platform from which to launch its CBD-infused beverages in the European Union.
These announcements have helped to make Aurora one of the most exciting cannabis stocks to watch in 2021.
Canopy Growth (CGC)
Canopy Growth is a Canadian cannabis company that is currently the leading producer of legal cannabis in the world. The company has a market cap of over $18 billion and is expected to continue to grow in the coming years. Canopy Growth has a wide variety of products including flower, edibles, and topicals.
Overview
Canopy Growth Corporation, together with its subsidiaries, engages in the production and sale of medical cannabis in Canada. The company offers dried cannabis and cannabis oil products under the Tweed, Black Label, Spectrum Cannabis, DNA Genetics, Leafs By Snoop, Bedrocan Canada, CraftGrow, and Foray brands. It also operates Canopy Rivers Corporation, a venture capital firm that invests in the cannabis industry. In addition, the company holds citizenship through its subsidiary in Saint Vincent and the Grenadines. Canopy Growth Corporation was founded in 2014 and is headquartered in Smiths Falls, Canada.
Recent Developments
It has been a busy few months for Canopy Growth (CGC). The Canadian cannabis producer announced in December that it had completed the acquisition of Acreage Holdings, a U.S. based cannabis company.
The deal, worth $3.4 billion, will give Canopy Growth a significant footprint in the rapidly growing U.S. cannabis market.
In January, Canopy Growth announced that it had entered into a joint venture with Aceite Solutions, a Colombian-based company, to produce and distribute cannabis products in Latin America.
The joint venture will be called Canopy LATAM and will be based in Bogota, Colombia.
Canopy Growth is also one of the largest producers of CBD products in the world through its subsidiary, Tweed Inc. CBD products are not currently legal in Canada but are legal in many jurisdictions around the world including the United States.
In December, Canopy Growth announced that it had entered into an agreement with Martha Stewart to develop a line of CBD products for pets. The products are expected to be launched later this year.
Cronos Group (CRON)
investors are bullish on Cronos Group (CRON) for a variety of reasons. First, the company’s recent earnings report showed strong growth. Second, the company has a new CEO who is focused on increasing shareholder value. And third, Cronos Group has a strong quarterly report.
Overview
Cronos Group is a Canadian cannabis company with a diverse portfolio of brands and products. The company is focused on innovation and customer service, and its products are available in countries around the world.
Cronos Group’s brands include PEAK, Spinach, Lord Jones, and bureau. The company’s products include flower, pre-rolls, vapes, concentrates, edibles, topicals, and more.
Cronos Group is listed on the Toronto Stock Exchange (TSX: CRON) and the Nasdaq Stock Exchange (NASDAQ: CRON).
Recent Developments
Cronos Group (CRON) has been making headlines recently with a number of developments that make it one of the hottest cannabis stocks in 2021.
First, the company announced a $300 million investment fromAltria Group (MO), one of the world’s largest tobacco companies. This investment gives Altria a 45% stake in Cronos and strengthens Cronos’s position as a leading global cannabinoid company.
Second, Cronos announced that it is teaming up with Ginkgo Bioworks to develop cultured cannabinoids. This partnership gives Cronos access to Ginkgo’s unique technology which can efficiently produce high-purity, consistent cannabinoids. This is a major breakthrough for the cannabis industry and gives Cronos a competitive advantage in the development of new cannabinoid-based products.
Lastly, Cronos has been working on expanding its global reach and establishing itself as a leading player in the international cannabis market. The company recently acquired a majority stake in Australian medical cannabis company Medipharm Labs, and it has also entered into partnerships with major players in South Korea and the United Arab Emirates.
These recent developments make Cronos Group one of the hottest cannabis stocks in 2021.
Tilray (TLRY)
When it comes to Canadian cannabis stocks, Tilray (TLRY) has been one of the hottest in 2021. Tilray is a leading global cannabis company that is engaged in the research, development, cultivation, manufacture, distribution, and sale of cannabis and cannabinoids. The company has operations in Australia, Canada, Europe, and the United States.
Overview
Tilray Inc. is a Canadian pharmaceutical and cannabis company, incorporated in 2018, with operations in 16 countries across 5 continents. The Company offers a range of products including cannabis-based oils, capsules, tinctures, topicals, pre-rolled joints and flower. It also offers CBD products under the Cibdex and CanvasRX brands. The Company’s aim is to make cannabis safe, patient-centric and standardized.
The company went public on the Nasdaq in 2018 at a time when many investors were bullish on the prospects of the legal cannabis industry. However, Tilray stock has been volatile, and the company has yet to turn a profit.
In December 2020, Tilray announced it was merging with Aphria Inc., another Canadian cannabis company. The deal is expected to close in the second quarter of 2021 and will create one of the largest global cannabis companies.
Recent Developments
Tilray (NASDAQ: TLRY) is a Canadian pharmaceutical and cannabis company established in 2013. It is one of the world’s largest producers of medical cannabis and one of the first companies to be licensed by Health Canada to cultivate, process and sell medical cannabis. The company sells its products in 10 countries across Europe, the Americas and Australasia.
In December 2020, Tilray completed the divestment of its Canadian adult-use cannabis business to Aphria (NASDAQ: APHA), resulting in Aphria owning 100% of Tilray Canada. Tilray now operates as a pure-play international medical cannabis company with a presence in 15 countries.
In January 2021, Tilray announced it had entered into an agreement to form a joint venture with Abbott Laboratories (NYSE: ABT) to develop, manufacture and commercialize pharmaceutical grade cannabinoid products for patients worldwide. The joint venture will be 60%-owned by Tilray and 40%-owned by Abbott.
Tilray also has strategic relationships with Sheltersplash, a disruptor in e-commerce software for the retail cannabis industry; Herring Ventures, a leading Canadian venture capital firm; and mystery tech giant Oracle (NYSE: ORCL).
Aphria (APHA)
Aphria (APHA) is one of the hottest cannabis stocks in 2021. The stock has skyrocketed over 400% in the past year. That’s an incredible return for investors. But what’s driving the massive growth? Let’s take a closer look.
Overview
Aphria is a leading global cannabis company with operations in Canada, the United States, Germany and Argentina. The Company is a leading player in the Canadian medical cannabis market with a strong focus on patient care and innovation. In the United States, Aphria has a strategic focus on building a significant footprint in key growth states through enhanced partnerships and organic investments. The Company’s common shares are listed on the Toronto Stock Exchange under the ticker symbol “APHA” and on the New York Stock Exchange under the ticker symbol “APHA”.
Recent Developments
Aphria has been in the news recently for a couple of reasons. First, the company announced that it intends to sell its US operations to a group of investors led by Schyan Investments. This move signals Aphria’s commitment to its Canadian operations, and it should help the company focus on its core strengths. Second, Aphria announced a new partnership with Southern Glazer’s Wine & Spirits, one of the largest wine and spirits distributors in North America. This partnership will help Aphria expand its reach in the US market and build on its already strong presence in Canada.
