ACB $1.430 (1.42%)

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Canadian Cannabis Producers Continue To Soar

Nov 15, 2016 • 9:22 PM EST
2 MIN READ  •  By Michael Berger
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The cannabis industry is the fastest growing industry in the world and this growth has been the catalyst for the creation of new sectors within the industry.

Although the United States cannabis industry continues to attract the most attention from investors and the media, especially after California, Nevada, Massachusetts, and Maine legalized recreational cannabis; we continue to view the Canadian cannabis industry as one of the best places to invest.

We are favorable on the Canadian cannabis industry for many reasons but one of the main factors is that medical cannabis is legal at the federal level. Unlike what we have in the United States, Canadian cannabis companies can use banks and access basic business services to operate more efficiently and effectively.

The Canadian government also plans to legalize cannabis at the federal level in the spring of 2017 and this will be a major catalyst for licensed medical cannabis producers in Canada.

Recent Trading Activity Shows Strong Momentum

The Canadian medical cannabis industry is growing at an impressive 12% per month and it now has more than 90,000 patients. The stocks levered to this growth have seen their share price move significantly higher over the last month and we see further upside from here as the sector continues to grow.

We want to highlight our favorite investments in the Canadian cannabis industry as well as some of the recent trading activity to help investors focus on those we believe are industry leaders and attractive investment opportunities:

Yesterday, OrganiGram Holdings Inc. (OGI.V) (OGRMF) issued a press release in response to a recent request by the Investment Industry Regulatory Organization of Canada to comment on recent trading activity in its stock. OrganiGram said it is not aware of any material undisclosed corporate developments and has no material change to report at this time.

This announcement came as OGI.V was moving considerably higher on heavy volume (7.7+ million shares) and Technical420 remains bullish on OrganiGram as we hold at these levels. Although OrganiGram was the only company asked to issue a press release, it was not the only licensed medical cannabis producer that rallied yesterday.

Canopy Growth Sparks Rally

The rally in Canadian licensed medical cannabis producers was sparked by Canopy Growth’s (CGC.V) (TWMJF) better-than-expected second quarter earnings resultsCGC.V also saw a significant jump in trading volume (12.3+ million shares) and the shares ended the day up more than 19%.

Canadian licensed medical cannabis producers Aphria, Inc. (APH.V) (APHQF) and Mettrum Health Corp. (MT.V) (MQTRF) also made similar moves higher while trading volume was well-above its monthly and quarterly average.

Aurora Cannabis Inc. (ACB.V) (ACBFF) was the only company out of the big five Canadian licensed producers that recorded below-average trading volume when compared to its monthly and quarterly average. ACB.V rallied less than 2% while the other four recorded double-digit percentage gains and we plan to keep a close eye on how the shares trade from here.

 

 

 

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Authored By

Michael Berger

Michael Berger is Managing Partner of StoneBridge Partners, LLC and Founder of Technical420.com. Prior to entering the cannabis industry, Michael was an Equity Research Analyst at Raymond James Financial covering the Energy Sector. Michael has been featured in publications such as The Street, Bloomberg, US Money News, and hosts various cannabis events across North America.

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