Top Cannabis Stocks Year-to-Date
Click here to read the previous top cannabis stocks year-to-date list.
Cannabis investments in 2021 have provided plenty of critical changes as the industry consolidates and monitors the evolving legal situation in the US market.
Here the Investing News Network (INN) top cannabis stocks year-to-date for the period ended in Q2 2021.
Data for this top cannabis stocks article was collected on June 30, 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.
Avant Brands (TSX:AVNT,OTCQX:AVTBF)
Year-to-date gain: 519.05 percent; current market cap: C$121.6 million; current share price: C$0.65
Formerly known as GTEC Holdings, this cannabis company made its transition to Avant Brands and graduated to the TSX after the half-year mark.
“Management believes that the rebrand will further align and strengthen the Company’s identity as it continues its pursuit to be a North American leader in handcrafted and highly sought-after cannabis brands,” the company told investors.
In April, the company issued an update indicating it removed all its debt and as part of its Q1 2021 fiscal financial report.
Citizen Stash Cannabis (TSXV:CSC,OTCQB:EXPFF)
Year-to-date gain: 305.56 percent; current market cap: C$36.4 million; current share price: C$0.36
Formerly known as Experion Holdings, Citizen Stash Cannabis is a cannabis license holder in Canada with branded products offered in 7 provinces across Canada. The company completed its transformation, which included a move from the CSE to the TSXV, in June.
Most recently, the company has told investors about its recent expansion of products in key Canadian markets BC and Alberta.
“Our focus remains expanding the shelf space for our Citizen Stash product portfolio within our current markets, while also continuing to aggressively pursue expansion opportunities into new provincial markets over the coming quarters,” Jarrett Malnarich, CEO of Citizen Stash, said.
POSaBIT Systems (CSE:PBIT,OTCQB:POSAF)
Year-to-date gain: 156.25 percent; current market cap: C$140.4 million; current share price: C$0.41
POSaBIT Systems offers investors an alternative entry point for cannabis investments since it operates a financial technology business supporting dispensaries through a point-of-sale systems solutions.
In May, the company offered an in-depth look at its financials since it reported Q1 2021 financial results as well as its fiscal year 2020 results.
“We expect continued growth in 2021 as we continue to expand the POSaBIT team, develop new and improved technology to bolster our already top-of-market product offerings, and focus on geographically broadening our customer base,” Ryan Hamlin, CEO and co-founder of POSaBIT, said.
Next Green Wave Holdings (CSE:NGW,OTCQX:NXGWF)
Year-to-date gain: 121.62 percent; current market cap: C$125.81 million; current share price: C$0.82
Next Green Wave makes another appearance in the top gainers list as the US operator continues to pave a steady road for itself.
In June, as part of its Q1 2021 financial results the company reported a revenue line of nearly US$5 million. Just before its financial report, the company said its cannabis products could now be found on 75 dispensaries across the California market.
“After a transformational 2020, our team’s focus for 2021 is threefold: expanding production capacity, continuing to improve operationally and hitting our financial targets,” Michael Jennings CEO and director of Next Green Wave Holdings, said in an update to investors.
Cannara Biotech (TSXV:LOVE,OTCQB:LOVFF)
Year-to-date gain: 118.75 percent; current market cap: C$144.62 million; current share price: C$0.18
This Canadian cannabis producer has had a busy 2021 since it elevated its listing to the TSXV in April and some time after it completed a substantial acquisition.
In June, the company completed its deal for the cannabis cultivation facilities from The Green Organic Dutchman Holdings (TSX:TGOD,OTCQX:TGODF) located in Quebec. The transaction cost Cannara C$27 million in cash.
“From receiving our amended sales licence from Health Canada to launching our brand portfolio through the SQDC, we are making meaningful strides to capturing market share in Quebec while positioning ourselves for long-term growth and success across Canada,” said Zohar Krivorot, president and CEO of Cannara Biotech, said.
Investors will need to keep in mind the volatility of the sector as legal changes may be forthcoming in the biggest market available to cannabis companies.
As the momentum shifts for the growth and potential attached to the US marketplace, more companies are expected to continue angling to put their businesses in direct relation to the US.
The rest of 2021 is expected to continue showcasing the consolidation efforts from the industry as more players complete strategic acquisitions.
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Want an overview of investing in cannabis stocks? Check out Investing in the Cannabis Industry.
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Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.