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4 Top Cannabis Stocks To Watch This Week

As these pot stocks see post-Reddit mania gains, could they be worth watching?

Are These The Best Cannabis Stocks To Buy Right Now?

For the past few months, cannabis stocks have been in the limelight. The cannabis industry as a whole has been riding high since Joe Biden won the presidential election back in November. This is because of Biden’s plans to decriminalize the calming substance. With federal legalization up for discussion, the marijuana industry could be looking at a massive market expansion in the U.S. Accordingly, this has added fuel to investors’ excitement over the top cannabis stocks. So much so, that even a Reddit-fueled trading frenzy was not enough to deter them.

For example, Canopy Growth Corp (NASDAQ: CGC) is now looking at gains of over 100% since November. Even pick and shovel plays such as cannabis farm supplies company GrowGeneration (NASDAQ: GRWG) are seeing growth. To point out, GRWG stock is up by about 50% year-to-date. According to Grand View Research, the global legal marijuana market could grow to $73.6 billion by 2027. This represents a compound annual growth rate of 18.1% in the next seven years. The report cites increasing efforts to legalize medical cannabis around the globe as another key factor for this growth. With this much activity across the board, I can understand if you would be keen on investing in the best cannabis stocks. If you are, here are top cannabis stocks making moves now.

Top Cannabis Stocks To Watch This Week

Aphria Inc.

First off we will be looking at cannabis giant, Aphria. For the uninitiated, it is a global producer and distributor of cannabis products. The company boasts an impressive and diverse portfolio that includes medicinal and recreational offerings for users of all kinds. If all this wasn’t enough, the company is also in talks to merge with industry peer Tilray (NASDAQ: TLRY). This would set it to be a part of the largest cannabis company globally in terms of revenue.

Of course, Aphria is a company that investors have been watching for a while now. We can see this as APHA stock has skyrocketed by over 360% in the past year. In fact, it jumped by over 28% during intraday trading yesterday thanks to a rosy analyst update.

Source: TD Ameritrade TOS

Specifically, Cantor Fitzgerald analyst Pablo Zuanic raised his price target for the stock to $25.62. On top of that, he also reiterated his overweight rating, given its current leading position in the industry, I can see why. In the meantime, Aphria has also been busy on the international front. Particularly, it bolstered its leadership position in Germany earlier this month. On February 8, the company announced that Chief Strategy Officer Denis Faltischek would also be assuming the role of Managing Director of Aphria Germany. It seems that Aphria is setting up for a busy year ahead on all fronts. Will you be adding APHA stock to your watchlist because of this?

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Hexo Corporation

Following that, we have leading consumer packaged goods cannabis company, Hexo. To begin with, the company works with Fortune 500 companies through its hub and spoke business strategy. This allows Hexo to bring its wide array of cannabis offerings to established companies, leveraging their distribution capabilities. With such impressive operations, it is no wonder that investors have been flocking to HEXO stock as well.

The stock has surged by over 520% since the March lows. More importantly, HEXO stock popped by over 22% yesterday as news of its latest acquisition was announced. However, the stock has taken a breather this morning, falling 6.58% as of 3:30 p.m. ET.

Source: TD Ameritrade TOS

Diving right into it, the company will be acquiring fellow cannabis cultivator Zenabis Global in an all-share transaction. The value of which is approximately $235 million. In summary, there are three key reasons as to why this is a fantastic play by Hexo. Firstly, the company would be strengthening its domestic brands and make it amongst the top three producers in Canada by recreational cannabis sales. Second, the deal would expand its foothold in Europe through Zenabis’ medical cannabis facility in the E.U. Third, Hexo would be boosting its annual cultivation capacity by over 111,000 kg after accounting for Zenabis’ growing facilities. Would you say this makes HEXO stock worth watching right now?

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Aurora Cannabis Inc.

Aurora is another big player in the industry that most investors would be familiar with. That’s considering it has production facilities and sales agreements throughout the globe. Notably, ACB stock is in focus right now as British Columbia Investment Management (BCIM) significantly expanded its stake in the company. According to an SEC filing, the large Canadian pension fund ended 2020 with over 290,000 shares. This is a massive leap from its over 58,000 shares it held three months prior. For one thing, this could explain the 12.8% bump in ACB stock yesterday.

More recently, Aurora has been hard at work as well. Throughout January, it made two strategic agreements. The first of which involves Canada’s first national cannabis sales broker, Great North Distributions Inc. As a result, Great North is now the exclusive representative for Aurora’s brands in Canada, bolstering its market position in the region.

Source: TD Ameritrade TOS

Furthermore, the company also signed a five-year exclusive supply agreement with MedReleaf in Australia. With Aurora expanding its market reach on the local and international ends, could ACB stock return to its former glory? That remains to be seen.

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Cronos Group Inc.

Global cannabinoid company Cronos is up next on our list. The company has research, production, and distribution facilities across five continents. It is also another go-to for investors looking to jump on emerging cannabis trends. Crucially, one thing that sets Cronos apart from the competition is its financial backing. The company has the support of tobacco juggernaut Altria (NYSE: MO). Because of this, investors could consider CRON stock to be among the safer investments in the industry. In fact, CRON stock is currently up by over 60% year-to-date.

Despite its diverse offerings, Cronos continues to expand its cannabis portfolio to cater to more users. According to Bloomberg, executive chairman Mike Gorenstein mentioned earlier this month that the company would be marketing lab-grown cannabis products. Subsequently, Gorenstein clarifies that these products would be the first of their kind for the industry. It seems that Cronos is making the most of its $122 million partnership with biotech company Ginkgo Bioworks back in 2018. Could cultured cannabinoids really make that much of a difference?

Source: TD Ameritrade TOS

Well, should things go as planned, Cronos would be able to significantly reduce production costs. In turn, this would help increase profit margins which are undeniably good for the company and investors alike. Given all of this, do you think CRON stock is worth watching ahead of its fourth-quarter fiscal next week?

By Jonathan Phillip

Jonathan Phillip is an up and coming financial contributor in the stock market today. He's found a strong niche in writing about true growth industries. His main focus for the last 5 years has been on the cannabis industry and marijuana stocks. He is one of the top contributors to cannabis media outlets like He also is head of social media management for

Since an early age, Jonathan has been an active member of the cannabis culture. Coming from Miami, Florida, he's been able to identify emerging trends in the space including the emergence of cannabis derivatives, vapes, e-liquids, wax, and more. His ability to identify emerging niches has afforded him the ability to source valuable information from top industry names.

Jonathan has also managed to build a strong social media presence for companies. He has worked with hundreds of public companies to develop a digital presence. As an active blogger and social media influencer, his focus is on lifestyle segments of the market. You can find Jonathan reporting on anything from industry conferences and investor events to corporate disclosures and cannabis market movers.

Since the early days of marijuana companies going public, Jonathan has made it a point to find information before the crowd. The main target of his writing is on undiscovered or under-researched companies that could hold true, lasting market potential. Through his research, Jonathan has managed to be one of the early writers to identify the opportunity of cannabis over other things like alcohol and he was one of the first reporters to cover the multi-billion dollar deals that materialized in 2017 and 2018. He has also covered the emergence of multi-state operators in the U.S. after Canada paved the way in late 2018 and 2019 for legalization in North America.

Jonathan is also an active member of the underground hip-hop scene. He has worked with some of the biggest names in the rap community while also gaining valuable insight from top producers and business moguls focused on moving brands forward. In his free time, Jonathan builds social communities and continues to hone his skills as a leading financial writer.

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