As 2019 continues its course, marijuana investors have been able to take chances on emerging plays in the developing cannabis market.
Marijuana investors have seen mixed performances from stocks during the year and, while the overall sector has taken some hits, there have still been winners in the space.
Read on to view the top cannabis gainers so far this year on the CSE, TSXV and TSX. All stats were current as of June 28, 2019; the CSE and TSXV stocks listed had market caps between C$10 million and C$500 million at that time, while the TSX stocks listed had market caps between C$1 billion and C$15 billion.
The CSE’s top cannabis stocks
1. Captiva Verde Land (CSE:PWR)
This relative newcomer to the marijuana public sector started trading on the CSE in October 2018.
Captiva is a real estate company with investments in various areas, including cannabis operations.
One of its cannabis assets is Solargram, a grower looking to become a bulk cannabis oil provider. It recently applied for a license from Health Canada for a facility based in Moncton, New Brunswick. Captiva acquired this subsidiary in May.
Shares of Captiva have risen 187.5 percent year-to-date to reach C$0.23.
This company has subsidiaries operating in the marijuana market, including growers.
During the second quarter, the company signed a mutual supply and services deal with Zenabis Global (TSX:ZENA). Heritage also highlighted the April acquisition of its subsidiary CannaCure, which has obtained key licenses from Health Canada.
Heritage was the top gaining CSE-listed cannabis stock in Q1 of this year. So far in 2019, shares of Heritage have surged 164.71 percent to C$0.45.
Valens is a cannabis company working with producers to provide extracts for a variety of products.
In Q2, the company managed to tie down or expand extraction agreements with some of the biggest names in the sector, including Tilray (NASDAQ:TLRY), Tantalus Labs and HEXO (NYSEAMERICAN:HEXO,TSX:HEXO).
Valens experienced significant growth during the second quarter. At the end of the period, the firm announced it would uplist to the TSXV, where it now trades.
As of the end of Q2, shares of Valens had increased in value by 162.66 percent year-to-date to hit C$4.15.
The TSXV’s top cannabis stocks
1. SugarBud Craft Growers (TSXV:SUGR)
During the second quarter, SugarBud appointed John Kondrosky, former COO of Zenabis, as CEO to lead its cannabis operations.
In April, SugarBud’s facility in Stavely, Alberta received a confirmation of readiness letter from Health Canada for its cultivation license. If the company obtains its license, it will produce an estimated 9.3 million grams of dried cannabis per year.
Thanks to a surge of 125 percent year-to-date to C$0.18, SugarBud rose to become the top cannabis gainer on the TSXV.
2. EnWave (TSXV:ENW,OTC Pink:NWVCF)
EnWave is a technology company that has centered itself in the cannabis business thanks to its Radiant Energy Vacuum (REV) drying technology for organic materials. It effectively decreases the time from harvest to the sale of cannabis products.
The technology from EnWave attracted one leading firm in the second quarter. EnWave announced a new partnership with Aurora Cannabis (NYSE:ACB,TSX:ACB) to offer the exclusive use of its REV drying technology in the producer’s operations across the globe. As part of the new relationship, Aurora also invested C$10 million in EnWave.
Over a year-to-date period, shares of EnWave have increased in value by 83.08 percent to C$2.38.
Harvest One continued its steady development in Q2 and maintained its position as a top cannabis riser.
During Q2, the company announced that its subsidiary United Greeneries was selected by Shoppers Drug Mart, a Loblaw Companies (TSX:L) subsidiary, as a supplier of medical cannabis for its online store.
“We see this supply agreement as a further step towards fulfilling our vision of being a vertically integrated house of brands in the cannabis health, wellness, and self-care sector,” Grant Froese, CEO of Harvest One, said in a press release.
Shares of Harvest One have surged 67.44 percent over a year-to-date period to C$0.72.
The TSX’s top cannabis stocks
1. Neptune Wellness Solutions (NASDAQ:NEPT,TSX:NEPT)
Neptune is another company with extraction capabilities for cannabis products. The firm also produces cannabis capsules called Licaps.
Shares of the extraction company have risen by 51.6 percent year-to-date to C$5.70.
2. Aurora Cannabis (NYSE:ACB,TSX:ACB)
Aurora Cannabis is one of the leading publicly traded licensed producers in the market. This year, the company has been focused on balancing the demands of its medical patient base and the increasing appetite of the recreational market in Canada.
At the same time, the firm has continued adding to its international exposure with a win for its production tender in Germany in April. The same month, the company purchased the remaining interest for Hempco Food and Fiber (TSXV:HEMP).
Aurora finished the second quarter up 44.71 percent year-to-date at C$10.26.
3. Cronos Group (NASDAQ:CRON,TSX:CRON)
Cronos is a marijuana producer in Canada that secured an investment deal with an established tobacco company this year.
In May, the firm reported a net loss attributable to basic shares of C$1.95 each for Q1. However, revenues increased 15 percent from the previous quarter for a total of C$6.5 million.
Shares of the cannabis producer were up by 36.43 percent year-to-date at the end of Q2 at C$21.01.
Want more details? Check out these articles for more INNdepth coverage.
- Top Canadian Cannabis Stocks Year-to-date – Q1 2019
- Cannabis Investment: Canadian Cannabis Stocks
- Marijuana Stocks to Watch in 2019
- Here’s Why 2019 Top Marijuana Stocks Will Be Different
- Marijuana Stocks by Industry
Want an overview of investing in cannabis stocks? Check Investing in the Cannabis Industry
Don’t forget to follow us @INN_Cannabis for real-time news updates!
Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Heritage Cannabis Holdings, Harvest One Cannabis and Valens GroWorks are clients of the Investing News Network. This article is not paid-for content.
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Meanwhile, a Canadian cannabis producer began offering CBD beverages in the US, another move that shows how interested Canadians are in the overall US cannabis market at the moment.
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As investors continue to prioritize cannabis opportunities in the US, market watchers expect mergers and acquisitions (M&A) to play a role in the future for Canadian companies.
A consolidation trend has been expected in the Canadian cannabis space for some time now based on the size of the market compared to the number of operations in the country.
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The product will include polyphenols known to have significant health benefits.
BioHarvest Sciences Inc. (CSE: BHSC) (“BioHarvest” or the “Company”) has reached an important milestone in its development program of additional Nutraceuticals. The olive-based Nutraceutical product scheduled for market availability in the second half of 2022 will contain the following unique matrix of polyphenols: hydroxytyrosol, trosol, and verbascoside. These compounds are the major polyphenols in naturally grown olives and are responsible for the high antioxidant activity of olives and olive oil. Importantly, the BioHarvest olive-based Nutraceutical product will provide all the benefits of olives and olive oil with a low calorie count per serving.
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The Company will host a conference call and webcast to discuss its financial results and provide investors with key business highlights on Thursday March 25 th , 2021 at 8:30am Eastern Time (7:30am Central Time).