TM editors’ note: This article discusses a penny stock and/or microcap. Such stocks are easily manipulated; do your own careful due diligence.
Canadian cannabis stocks rallied off their lows yesterday and we are favorable on this reversal. Shortly after the market opened, Horizons Marijuana Life Sciences ETF (HMMJ.TO) was down more than 5% and the ETF ended the day up more than 3%.
This rally took place on above-average volume and we are closely monitoring this trend going forward. Prior to this move higher, cannabis investors have been closely monitoring the recent decline in volume and we are favorable on the bounce higher yesterday.
The Canadian cannabis industry continues to lead the legal global cannabis movement and we are bullish on the continued execution. From Germany to Australia, Canadian cannabis producers continue to increase market share in legal marijuana markets across the globe and we are excited by this opportunity.
Today, we have highlighted three Canadian cannabis producers that we are favorable on and that investors should be watching.
Aphria: An Attractive Pre-Earnings Opportunity
During the last quarter, shares of Aphria (APH.TO) (APHQF) have fallen more than 55% and we are monitoring this decline. This weakness comes after the Canadian cannabis producer completed two major acquisitions and we are favorable on the shares at current levels.
The Canadian cannabis producer will report third quarter financial and operational results on April 16th and we expect Aphria to report strong numbers. The company is in the middle of a major expansion which will lead to significantly higher revenues and we view this as a catalyst for the marijuana producer.
We are favorable on yesterday’s reversal and continue to view Aphria as one of the best long-term opportunities. The market cap is right above $2 billion after yesterday’s gain and investors need to keep this stock on their radar.
Cronos: A Long-Term Opportunity
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