Best Canadian Pot Stocks

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Contributor, Benzinga
May 31, 2023

Cronos Group (NASDAQ:CRON)

Cronos Group, headquartered in Toronto, Canada cultivates and sells medicinal and recreational cannabis through its medicinal brand, Peace Naturals, and its two recreational brands, Cove and Spinach. Although it primarily operates in Canada, Cronos exports medical cannabis to Poland and Germany. In addition, it has entered joint ventures in Israel, Colombia, and Australia to drive further international cultivation and distribution growth and acquired Redwood Holdings to sell CBD in the U.S.

Last update: 6:33PM (Delayed 15-Minutes)
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Vol / Avg.1.051M / 2.283MMkt Cap803.845M
Day Range2.040 - 2.11052 Wk Range1.640 - 3.040


Hexo Corp is engaged in producing and selling cannabis and cannabis products. The company is focused on smoke-free and traditional cannabis products. The firm’s products include dried flowers, oils, and vapes. It generates its revenue from various sources such as Beverage Based Adult-Use Sales, Medical, Wholesale and International sales.

Vol / Avg.- / -Mkt Cap-
Day Range- - -52 Wk Range- - -

Canopy Gwth (NASDAQ:CGC)

Canopy Growth, headquartered in Smiths Falls, Canada, cultivates and sells medicinal and recreational cannabis, and hemp, through a portfolio of brands that include Tweed, Spectrum Therapeutics, and CraftGrow. Although it primarily operates in Canada, Canopy has distribution and production licenses in more than a dozen countries to drive expansion in global medical cannabis and also holds an option to acquire Acreage Holdings upon U.S. federal cannabis legalization.

Last update: 7:58PM (Delayed 15-Minutes)
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Vol / Avg.42.095M / 46.986MMkt Cap659.122M
Day Range0.702 - 0.80652 Wk Range0.346 - 3.595

CannTrust Holdings (OTCEM:CNTTQ)

CannTrust Holdings Inc is engaged in the business of producing and distributing medical cannabis in Canada. Its facility is located at Vaughan, Ontario in Canada. Its brands include LIIV, ESCAPE, SYNR.G and Peak Leaf.

Last update: 7:00PM 0
Vol / Avg.3.180K / 26.532KMkt Cap141.000
Day Range0.000 - 0.00052 Wk Range0.000 - 0.010

GrowGeneration (NASDAQ:GRWG)

GrowGeneration Corp owns and operates specialty retail hydroponic and organic gardening stores. The firm is a marketer and distributor of nutrients, growing media, advanced indoor and greenhouse lighting, ventilation systems and accessories for hydroponic gardening.

Last update: 4:40PM (Delayed 15-Minutes)
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Vol / Avg.566.353K / 870.513KMkt Cap168.606M
Day Range2.640 - 2.78052 Wk Range1.770 - 6.900

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Quick Look at the Best Canadian Pot Stocks:

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With many of the top large cap pot stocks, Canada is far ahead of the global curve in terms of marijuana legalization, and there are plenty of ways to profit from the industry. Take a look at 1 of the many growing pot stocks bringing Canadians marijuana and marijuana accessories.

Despite the popularity of pot and legislators clearing a path forward for the industry, it’s experiencing the growing pains of any industry led by small caps with volatile earnings per share reports. Pot stocks were hammered during the coronavirus, many analysts believe, because of slow government regulators and the lack of a viable residential distribution system. 

Regardless, it’s still early in the life of legal pot. Here are some stocks that many investors find interesting and are investing in for the future.

Overview: Canadian Pot Stocks

1998 was the 1st major legal breakthrough for the modern Canadian pot industry. Industrial hemp production and cultivation was declared legal that year, expanding the industry far beyond the limitations of the limited license era that began in 1961. 

In the year 2000, Terrance Parker won a seminal court case that upheld his right to grow cannabis as a means to control his epilepsy. The case set the legal precedent of declaring the prohibition of all cannabis unconstitutional.

From then on, the Canadian government did its best to get its legal structure out in front of the marijuana industry. At 1st, the Marijuana for Medical Access Regulations gave licenses to patients to grow their own cannabis. In 2003, the government of Jean Chrétien introduced legislation to decriminalize all marijuana possession. 

It was ultimately defeated, as was the decriminalization measure led by Paul Martin in 2004, but it led up to the 2011 ruling of Justice Donald Taliano that all prohibitions of cannabis production and possession were invalid under the constitution.

Through a few more important court battles, precedents were set for the passage of The Cannabis Act of 2018, completely legalizing all cannabis for any use. Legal distribution centers began to pop up around Canada, and the legal pot industry was born.

Best Online Brokers for Canadian Pot Stock

You may have to conduct a bit more research to find a broker that allows you to trade in the Canadian stock market if you’re investing inside American borders. Start with our best online brokers for Canadian pot stock.

Features to Look for in Canadian Pot Stock

  1. Financial access. The biggest problem across the board for Canadian pot stocks is access to traditional forms of financing. Pot proprietors at many Canadia pot companies fell for the mania of the late 2000s to early 2010s and overpaid for their assets. Because of this, even companies that perform well may have too much debt to repay or may not have the cash to expand.
  2. Focus. There are many pot companies that try to be all things to all people. The successful companies are usually the ones that focus on a single aspect of the market and streamline their physical operations to service a dedicated part of Canada, an incredibly sparse country.
  3. Business savvy. Many companies with great products suffer from poorly negotiated contracts with set price and volume commitments. When the coronavirus hit, companies with these disadvantageous contracts found themselves struggling to produce and/or distribute their product at the price demanded.

Waiting for the Explosion

The Canadian pot industry never gave investors the explosion we all expected once governments got out of the way. That doesn’t mean it can’t still happen. Savvy, patient investors are usually rewarded over time, and Canadian pot is no different.

Choosing the right companies is certainly important. Time will whittle away the weaker competitors. As you time your entries for short term profits, make sure you also pay attention to the fundamentals of your chosen companies. Access to financing, focused attention and negotiating savvy is far more important than quarterly profits right now — even the best picks are still stocks under $20.

Frequently Asked Questions


Is pot a good investment?


As more and more places legalize pot, it can be a good investment.


Is pot legal in Canada?


Yes, pot is legal in Canada.


What are the best Canadian pot stocks?


Check out Benzinga’s list of the best Canadian pot stocks above.