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Top Cannabis Stocks Year-to-Date
Nov. 04, 2021 01:30PM PST
INN takes a closer look at some of the top cannabis stocks so far in in the Q3 2021 period. Find out which companies made the list.
Click here to read the latest top cannabis stocks year-to-date list.
This year has been a struggle for cannabis investment as a whole, but some cannabis stocks have still been able to post solid returns.
Below the Investing News Network runs through the top cannabis stocks year-to-date.
Data for this top cannabis stocks article was collected on October 15, 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. Captor Capital (CSE:CPTR)
Year-to-date gain: 333.33 percent; current market cap: C$64.07 million; current share price: C$1.29
Captor Capital is a cannabis investment company seeking opportunities in the US marketplace, particularly California. The company manages 10 dispensaries in the state.
The company reported a significant decrease in its net loss during the most recent quarter compared to the same time period the previous year. As for gross profits, Captor Capital posted a line of US$1.9 million, representing a 56 percent uptick from its previous fiscal year.
"Growth comes with normal challenges and expenses, but to be able to continue to accomplish this feat with evolving hurdles gives me great confidence that we will continue to grow," Captor Capital CEO John Zorbas told shareholders.
2. MedMen Enterprises (CSE:MMEN,OTCQX:MMNFF)
Year-to-date gain: 83.33 percent; current market cap: C$377.26 million; current share price: C$0.33
MedMen Enterprises is a cannabis multi-state operator with dispensaries across six states; the company also manages branded cannabis products.
The company has been in the spotlight for investors as part of a convoluted stake deal with Tilray (NASDAQ:TLRY,TSX:TLRY). The financial boost MedMen will receive from the transaction with Tilray will improve the company’s revenue trajectory, said Tom Lynch, CEO of the firm.
"MedMen 2.0 is here, and we are thrilled to embark on the next stage of our journey," Lynch said.
3. Indiva (TSXV:NDVA,OTCQX:NDVAF)
Year-to-date gain: 59.26 percent; current market cap: C$47.9 million; current share price: C$0.43
Indiva is a cannabis company overseeing a variety of branded products in the Canadian recreational market. As part of exclusive agreements, the company manages the use of Bhang chocolate products and Wana gummies.
In October, the company obtained funding of C$8.5 million from Sundial Growers (NASDAQ:SNDL) and adjusted its existing non-revolving term loan facility with the cannabis producer. In Indiva's most recent quarterly financial report, Niel Marotta, president and CEO, said the company is entering a high point built on organic growth and a variety of cannabis products.
4. Organigram Holdings (NASDAQ:OGI,TSX:OGI)
Year-to-date gain: 49.46 percent; current market cap: C$875.03 million; current share price: C$2.78
Organigram Holdings is a Canadian licensed producer based in New Brunswick with products available across the country.
This past quarter has been a busy one for the company as it appointed a brand-new CEO in Beena Goldenberg after Greg Engel was dismissed from the role earlier in the year. Goldenberg previously served as the executive leader of the Supreme Cannabis Company.
Goldenberg said she is dedicated to building high-quality products, strong brands and continuing innovation at Organigram.
5. Innovative Industrial Properties (NYSE:IIPR)
Year-to-date gain: 34.68 percent; current market cap: US$6.37 billion; current share price: C$239.05
Innovative Industrial Properties is a real estate investment trust company focused on medical cannabis facilities in the US market.
Throughout the quarter, the company solidified its presence with new agreements in New York, Missouri and Maryland. In its Q2 financial report, issued in August, the company noted net income of US$29 million thanks in part to an uptick of 101 percent in revenue for the quarter, compared to the same time period the year before. Innovative Industrial Properties was also able to deliver on a quarterly dividend of $1.40 per share in July.
Investor takeaway
Cannabis investors are looking for sunnier days ahead. Those may be on the horizon next year, but as far as 2021 goes, the struggles continue.
The Q3 period did bring along reassurance for how critical the opening of the US market will be for the industry at large.
"It’s easy to get lost within the context of this meteoric rise and fall that cannabis has had over the past 12 months," Nawan Butt, portfolio manager with Purpose Investments, said. "But if we take a look at it on a year-over-year basis, the industry is still in a much better position than it was."
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.
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https://www.linkedin.com/in/bryan-mc-govern-b23495b0/
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