Top Cannabis Stocks Year-to-Date (Updated December 2021)

1. ​InnoCan Pharma​

Year-to-date gain: 127.78 percent; current market cap: C$210.71 million; current share price: C$0.82

InnoCan Pharma (CSE:INNO,OTCQB:INNPF) is working on using CBD as the basis for a modern drug program. The company is based in Israel, a country known for its forward drug market in terms of cannabis research.

It has seen a steady stream of updates for its drug-development program and research partnerships in Israel.

In 2021, the pharmaceutical company has also provided investors with a slew of updates when it comes to the filing of patents related to its cannabinoid studies.

2. Rapid Dose Therapeutics (RDT)​

Year-to-date gain: 77.49 percent; current market cap: C$42.39 million; current share price: C$0.55

RDT (CSE:DOSE) is another cannabis company on this list with ties to the biopharmaceutical world. This firm employs a business model based on the development of its oral film QuickStrip technology product.

In October, the company received a cannabis sales license from Health Canada. “The novel dosing and delivery of our QuickStrip and QuickSip products makes them ideal for use by a wide range of consumers and we see a tremendous opportunity to leverage our technology with a number of key targets, in both the recreational and medical markets including long-term care and assisted living,” Mark Upsdell, CEO of Rapid Dose Therapeutics, said.

3. Innovative Industrial Properties (IIP)

Year-to-date gain: 38.11 percent; current market cap: US$5.67 billion; current share price: US$245.51

Along with the many diverse opportunities attached to the world of cannabis investments, IIP (NYSE:IIPR) leads as one of the biggest companies out there engaged with a unique aspect of the market.

The company is operating as a real estate investment trust with a focus on medical cannabis facilities. It has grown quickly and continued to see an uptick in 2021.

In November, the company reported its Q3 financial results, presenting a net income line of US$29.8 million.

4. MedMen Enterprises

Year-to-date gain: 33.33 percent; current market cap: C$275.04 million; current share price: C$0.24

MedMen Enterprises (CSE:MMEN,OTCQX:MMNFF) is a US-based operator with a portfolio of retail stores across the country. It has seen high levels of volatility based on mismanagement by former executives at the firm. However, in 2021, the company experienced steady growth in the stock market.

This year, MedMen investors were surprised to find a new, albeit intricate, deal involving the retailer and leading Canadian cannabis producer Tilray (NASDAQ:TLRY).

“Over the next several quarters, we plan to both accelerate our growth and improve EBITDA profitability as we leverage our national brand recognition into opening new stores in Florida, California, Massachusetts, Arizona and Illinois,” Tom Lynch, former chairman and CEO of the firm, said as part of a financial update to shareholders.

5. ​Organigram Holdings

Year-to-date gain: 26.34 percent; current market cap: C$701.82 million; current share price: C$2.35

Organigram Holdings (NASDAQ:OGI,TSX:OGI) is a Canadian cannabis producer with US market aspirations. The company's crystallized a little more in 2021 thanks to a new investment agreement with British American Tobacco (NYSE:BTI,LSE:BATS).

Beena Goldenberg, the new CEO of the Canadian producer, indicated the firm has become the fourth place licensed producer in the Canadian marketplace.

"We are excited for what Fiscal 2022 holds for Organigram,” Goldenberg said. "Looking ahead, we expect to continue our momentum as we maintain our focus on increased points of distribution, bringing new, impactful and innovative products … to market, and improve our ability to fulfill the growing demand for our products."

Investor takeaway

The past year has brought a difficult period for cannabis investments, with several leading stocks across the US and Canadian markets seeing down years.

While experts are pointing to promising signs showing what’s ahead in 2022, it’s undeniable that cannabis stocks had a tough time throughout 2021.