The cannabis sector has been steadily trending higher following the 2020 general election and this is a trend that we are closely following.
From the election of Joe Biden to the passing of medical and recreational cannabis legislation in several key US markets, the cannabis sector has benefited from a variety of positive developments on the regulatory side of the industry.
Following the recent developments, we have received an influx of questions on the companies that are performing the best in a post-election market. Today, we have highlighted 5 of the top performing Canadian cannabis companies since the election and will continue to monitor the trend from here:
Performance between November 3rd and December 3rd (prices in USD as of December 3rd)
- Canopy Growth Corporation (WEED.TO) (CGC) – up 37%
- Aurora Cannabis Inc. (ACB.TO) (ACB) – up 137%
- HEXO Corporation (HEXO.TO) (HEXO) – up 81%
- Tilray Inc. (TLRY) – up 29%
- Organigram Holdings (OGI.V) (OGI) – up 6%
Although we believe the outcome of the election will prove to be more significant for US cannabis companies, Canadian cannabis companies have been in rally mode and we will closely follow the trend from here.
We believe these Canadian cannabis companies have benefited from having exposure to the US market and will be monitoring how the industry advances in 2021. Companies like Aurora Cannabis and Canopy Growth Corporation have formed strategic relationships with US operators and have acquired assets that allow them to be positioned to benefit from a change of regulation in the US.
If you are interested in learning more about Canadian cannabis companies, please send an email to email@example.com with the subject “Canadian Cannabis Companies” to be added to our distribution list.