Top Cannabis Stocks Year-to-Date

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

Cannabis investments have seen an upswing in momentum to start 2021. As the first quarter wraps up, the Investing News Network looks at the top cannabis stocks in terms of share price performance and what their activity says about the space as a whole at the moment.

Despite the current positivity, the cannabis sector has shown its fair share of volatility, a trait experts have said will likely not go away anytime soon. So far this year, key mergers and acquisitions have affected the performance of some names, while steady results have helped boost others.

Data for this top cannabis stocks article was collected on April 23, 2021, and the companies included had to meet a minimum market cap requirement of C$10 million. Cannabis companies on the NYSE, NASDAQ, TSX, TSXV and CSE were considered.

1. GTEC Holdings (TSXV:GTEC,OTCQB:GGTTF)

Year-to-date gain: 484.62 percent; current market cap: C$149.28 million; current share price: C$0.75

GTEC Holdings is a Canadian operator of cannabis facilities and branded products. This year, the company has cleaned house with a convertible debt repayment and a new C$23 million bought deal.

In terms of upside for this financial period, the company announced a new export agreement with Focus Medical Herbs, an Israeli medical cannabis company that holds a partnership with IM Cannabis (NASDAQ:IMCC).

“With the signing of this deal, GTEC will become an up-and-coming player within the global cannabis market, while continuing to drive significant incremental revenues and gross margin,” Michael Blady, co-founder and vice president of GTEC, told investors.

2. Experion Holdings (TSXV:EXP,OTCQB:EXPFF)

Year-to-date gain: 244.44 percent; current market cap: C$35.29 million; current share price: C$0.36

This company manages Experion Biotechnologies, a licensed cannabis producer based in BC that produces the popular Citizen Stash line of products.

As part of its 2021 outlook notice to investors, the company said it believes its flagship brand plays well with current consumer demand for low-cost products while retaining a premium brand appeal.

In mid-March, Experion secured its first end-to-end pre-roll manufacturing and product distribution services manufacturing agreement with the Valens Company (TSX:VLNS,OTCQX:VLNCF).

Jarrett Malnarich, CEO of Experion, said the new two year business partnership will help the company expand customer access to Citizen Stash.

3. The Supreme Cannabis Company (TSX:FIRE,OTCQX:SPRWF)

Year-to-date gain: 129.41 percent; current market cap: C$278.54 million; current share price: C$0.37

The Supreme Cannabis Company celebrated one last push of gains as it begins to head into the sunset. In early April, it was announced that Canopy Growth (NASDAQ:CGC,TSX:WEED) will be stepping in to acquire Supreme Cannabis entirely.

“Combining Supreme Cannabis with Canopy — a Canadian market leader with exposure to the United States — presents a significant value creation opportunity for both companies,” Beena Goldenberg, president and CEO of Supreme, said in a statement to investors.

The deal is expected to embolden the brand catalogue for Canopy Growth and should offer a significant bonus to the trading activity of Supreme holders. The company saw a double-digit boost in the wake of the acquisition deal announcement.

The other major spike for Supreme this year was seen leading up to the release of the firm’s financial report for the period ended on December 31, 2020.

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

Year-to-date gain: 108.11 percent; current market cap: C$128.91 million; current share price: C$0.72

Amid all the volatility present in the cannabis industry, Next Green Wave Holdings has shown its investors a steady growth path.

During the Q1 period, the company celebrated 12 consecutive months of profitability and was included in the OTCQX Best 50 list, showing its track record against all companies on OTC exchanges.

As part of its Q4 2020 report, shared in January, CEO Michael Jennings said 2020 was a transformational year for the company with a consistent performance.

“Moving into 2021, we want to build on that momentum through expansion,” Jennings said as Next Green Wave announced the buildout of an additional 50,000 square foot indoor cultivation facility within its existing Coalinga campus. The firm expects it to be active later in the year.

5. Aphria (NASDAQ:APHA,TSX:APHA)

Year-to-date gain: 93.70 percent; current market cap: C$5.81 billion; current share price: C$18.11

Aphria has had a busy 2021 so far. After announcing a blockbuster merger transaction with fellow cannabis producer Tilray (NASDAQ:TLRY) in December 2020, the firm has been racing towards finishing the transaction.

In mid-April, Aphria holders voted in favor of the overall deal with Tilray.

“We appreciate their support, as we believe the business combination will create a Combined Company with a strong financial profile, low-cost production, market share leading brands, distribution network and unique partnerships,” Irwin Simon, Aphria chairman and CEO, said.

During this period, shareholders of Aphria have had the chance to take a closer look at the finances of the company on two separate occasions — the firm released Q2 and Q3 results for the 2021 fiscal year in January and April, respectively.

Investor takeaway

Cannabis companies have been able to weather the turbulent difficulties of 2020 and have now set a course for expansion and steady growth thanks to the projections attached to the US marketplace and its potential regulation efforts.

So far in 2021, cannabis investments have still shown vulnerability to volatility, but at the same time investors will have to remember that more often than not, that is par for the course with this sector.

Looking ahead, investors will need to look at how US plans may alter the performance of the entire cannabis stock space and produce the next batch of top cannabis stocks for the year.

INNdepth

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

• Cannabis Investment: Canadian Cannabis Stocks
• Invest in Cannabis: TSX Cannabis Stocks
• Cannabis Companies: Stocks on the TSXV
• CSE Marijuana Stocks
• Are Canadian Marijuana Stocks a Good Investment?

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.