This October, Canada may create a sizable opportunity for big cannabis stocks.
A year after Canada legalized dried cannabis flower, oils, and sprays, the country is expected to legalize edibles, beverages, and topicals on October 17, 2019.
Some of the top stocks to keep in mind, as we near that date include:
Aurora Cannabis, which recently announced its expansion into edibles, vapes, and concentrates in late June 2019.
"Aurora is the world's leading producer of high-quality cannabis and we're ready to introduce high-value product additions to this improved, federally legal market," said the Company's CEO Terry Booth. "From the beginning, we've invested in industry-leading production and distribution technology, and in consumer research to drive products to market that consumers will desire. These things, together with the dynamic partnerships we've entered into on the accessory and technology fronts, position us well for this new market launch in December as per Health Canada's recent regulatory amendments."
Canopy Growth just announced at the Barclays 2019 Global Consumer Staples Conference that Cannabis 2.0 would be a major catalyst for the company over the next 12 to 18 months. In addition, the company highlighted its focus on increasing its store count in Canada from 460 stores in September 2019 to 600 by early 2020.
Better, the company will launch edibles, beverages, and vape products after Canada legalizes CBD all over again this October.
Companies like HEXO Corporation are major beneficiaries, too. HEXO’s partnership with Molson Coors Brewing will allow it to profit from cannabis-infused drinks.
HEXO has also gotten involved with gummies and premium vapes.
It’s just something to keep in mind if you’re looking for opportunities.