Remember when the cannabis stocks were dead money? The group has now made money year to date (YTD). If you were in big banks or big oil, you’d be sad. If you were in big cannabis, you’re cheering now.
Sales are still robust. In wide swathes of the American landscape, legal weed has become a way of life. And for millions of sick people, it’s a true lifeline.
I’m reviewing another pre-IPO name now. Only my IPO Edge subscribers will get my thoughts. You can subscribe now to make sure you’re on the list.
Meanwhile, there are obvious winners and losers. Aurora Cannabis Inc. (NYSE:ACB) has rebounded a lot since the election, but it’s still down 27% YTD.
Two weeks ago, Wall Street had written the company off as a loss. Now the stock is still broken in a lot of ways, but the company has much brighter prospects.
Tilray Inc. (NASDAQ:TLRY) is doing a little better. It’s up 14% this year, which, in cannabis land, is a huge win. Shareholders are making money again. This company has turned the corner.
And Canopy Growth Corp. (NYSE:CGC) is the big winner with a 47% YTD gain. From its perspective, the boom never ended. It only paused over the past 18 months.
Now it’s time that the group gets back to work under the leadership of new and more dynamic names. I’m excited. Are you?