Click here to read the previous top cannabis stocks year-to-date list.

Amid a global pandemic, the cannabis stock market has taken heavy losses as the industry adjusts to developing metrics and the evolution of consumer trends.

As the US election draws nearer, expectations are rising for what’s in store in the remaining months of 2020. For now, the Investing News Network is looking back at the performance of stocks in the at-large cannabis universe over the first three quarters of the year.

Overall, the cannabis space has taken some serious lumps since 2019 following poor performances by leading companies, particularly in the Canadian market.

In 2020, experts agree the wedge is growing between companies that are performing well and those that are lagging behind. Whereas before cannabis investments encompassed a large collection of public names, investors are now placing wiser and more specific bets.

Data for this article was collected on October 9, 2020, and the companies included had to meet a minimum market cap requirement of C$10 million. Top cannabis stocks year-to-date on the NYSE, NASDAQ, TSX, TSXV and CSE were considered.

1. Vibe Growth (CSE:VIBE,OTC Pink:VBSCF)

Year-to-date gain: 477.78 percent; current market cap: C$41.76 million; current share price C$0.52

Vibe Growth is a cannabis company based in the expansive California state market. This retailer and operator offers consumers its extensive line of products at the three stores it manages in the state.

This past quarter, the company added to its portfolio in California, and agreed to acquire a Ventura Cannabis and Wellness (CSE:VCAN,OTC Pink:CVHIF) cannabis retailer subsidiary in Portland, Oregon.

As part of its positive performance, the company reported a profitable operating period for the three months ended on June 30. “Not only did we achieve record dispensary sales and increased cultivation yields, but Vibe also achieved record EBITDA and after-tax net income,” said CEO Mark Waldron.

2. IM Cannabis (CSE:IMCC)

Year-to-date gain: 359.46 percent; current market cap: C$266.53 million; current share price C$1.70

This Israel-based cannabis operator offers medical products in the country and holds a subsidiary in Germany to distribute its offerings in the European market.

This past quarter, the company solidified its presence in Germany by beginning the sale of its IMC-branded cannabis products.

As part of its operating quarter ended on June 30, the company reported a significant uptick in revenue. However, the firm still saw a net loss of just under C$10 million and an adjusted EBITDA loss of C$1 million, both greater than the same reporting period in 2019.

3. Next Green Wave Holdings (CSE:NGW,OTCQX:NXGWF)

Year-to-date gain: 180 percent; current market cap: C$46.59 million; current share price C$0.28

Next Green Wave Holdings is an established seed-to-sale operator in the modern California state market.

In a recent update, this operator celebrated positive metrics for adjusted EBITDA and cash flow for the three operating months of July, August and September.

In an update to shareholders, CEO Mike Jennings said the company has three goals ahead of itself: continue to operate and improve its production numbers; grow revenue of branded products and add novel items like extracts; and take its extraction operation online before the end of the year.

4. CB2 Insights (CSE:CBII,OTCQB:CBIIF)

Year-to-date gain: 166.67 percent; current market cap: C$37.45 million; current share price C$0.32

Another of the top cannabis stocks year-to-date, CB2 Insights went public in early 2019, selling itself to investors as an ancillary cannabis opportunity based on the technology side of business. The company offers clinical management and data collection software.

In August, the company reached a milestone by reporting its first-ever EBITDA-positive operating quarter.

CB2 Insights closed a private placement worth C$3 million from a group of investors led by Merida Capital Partners and Affiliates, a well-known cannabis-related investment group. The deal closed in September, but not before being upsized to just over C$5 million.

5. XPhyto Therapeutics (CSE:XPHY,OTCQB:XPHYF)

Year-to-date gain: 149.02 percent; current market cap: C$139.42 million; current share price C$2.54

One of the growing trends in the cannabis investment proposition is the magnification of companies performing alongside traditional growth and sales operations. One such company doing well for itself in 2020 is XPhyto Therapeutics.

This company approaches cannabis by way of researching novel drug delivery technologies. XPhyto holds subsidiaries in the European market that are involved in trials for a CBD drug treating epilepsy.

This year, the company has received a boost in its performance thanks to the measures it has launched for COVID-19 testing. XPhyto told investors it is eyeing Q1 2021 as a potential timeline for regulatory approval of its rapid screening test.

Investor takeaway

While some of the biggest established names in the cannabis market have faced struggles, the industry has grown to the point where it holds many diversified opportunities.

This list of the top cannabis stocks year-to-date proves cannabis investment is no longer a blanket arena where one kind of business applies.

At the same time, experts have pointed to potential signals that a recovery is coming for some large and medium-size public names in the space.


INNdepth

Want more details? Check out these articles for more INNdepth coverage:

Want an overview of investing in cannabis stocks? Check out 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.

Wall Street Reporter, the trusted name in financial news since 1843, has published reports on the latest comments and insights from leaders at: Tilray, Inc. (NASDAQ: TLRY), Icanic Brands (OTC: ICNAF) (CSE: ICAN), Aurora Cannabis (NYSE: ACB) (TSX: ACB), and HEXO Corp. (NYSE: HEXO)

Cannabis leaders are focusing on innovation in premium branding, global expansion, and tight operational execution in the drive towards profitability. Wall Street Reporter highlights the latest comments from industry thought leaders:

Keep reading... Show less

TransCanna Holdings Inc. (CSE: TCAN) (FSE: TH8) (“TransCanna” or the “Company”) is pleased to announce that it has closed the 2nd and final tranche of its Unit financing. In connection with the closing, the Company issued 1,356,873 Units at a price of $0.55 per Unit, for gross proceeds of $746,280.15. Each Unit consists of one (1) common share and one (1) warrant. Each warrant entitles the holder to purchase one common share of the Company, at an exercise price of $0.75 per share, for a period of two years from the date of issuance. The warrants are subject to an acceleration right that allows the Company to give notice of an earlier expiry date if the Company’s share price on the CSE (or such other stock exchange the Company’s shares may be trading on) is equal to or greater than $1.25 for a period of 20 consecutive trading days. Finder’s fees of $42,542, 3,200 Finder’s shares and 80,550 Finder’s warrants were issued in connection with finder’s fees payable.

In total, the Company raised gross proceeds of $1,757,180 and issued 3,194,873 Units.

Keep reading... Show less

 Sweet Earth Holdings Corp. (CSE: SE) (FSE: 1KZ1) (OTCQB: SEHCF) (“Sweet Earth” the “Company”) is pleased to announce that it has received full Depository Trust Company (“DTC”) eligibility in the United States. On October 20, 2020, Sweet Earth announced that its shares had been listed on the United States’ Over-The-Counter Bulletin (“OTCQB”) under the ticker SEHCF.

DTC status means that Sweet Earth shares are now eligible to be transferred between brokerage accounts within the United States and significantly augments the ease in which American-based investors are able to trade Sweet Earth shares.

Keep reading... Show less

Hill Street Beverage Company Inc. (TSXV: BEER) (“Hill Street” or the “Company”), announces that further to its press releases dated July 21, 2020 and July 31, 2020, the Company proposes to amend the exercise price of 19,405,804 warrants of the Company that were originally issued on July 27, 2018, to $0.10. These warrants are set to expire on December 31, 2020.

The Company had initially proposed a lower amended price, but that proposal was not approved by the TSX Venture Exchange (“Exchange“), however, the Exchange indicated that a $0.10 exercise price, may be more acceptable. Accordingly, the proposed amendment remains subject to Exchange approval.

Keep reading... Show less

Issuance of U.S. Patent No. 10,851,077 covering methods for extracting and concentrating cannabinoids using ultrasound-enhanced solvent extraction bolsters World Class’ intellectual patent portfolio

World-Class Extractions Inc. (CSE:PUMP)(FRA:WCF)(OTCQB:WCEXF) (the “Company” or “World-Class”) is pleased to announced the United States Patent and Trademark Office (“USPTO”) has issued U.S. Patent No. 10,851,077 on December 1, 2020 in relation to the Company’s methods for extracting and concentrating cannabinoids and other target compounds from cannabis using ultrasound-enhanced solvent extraction

Keep reading... Show less