The Rally Continues with Cannabis Stocks

Do These Top Marijuana Stocks Have Value In The Cannabis Industry?

Aphria said it has entered an agreement to buy Atlanta’s Sweetwater Brewing Co. for around US$300 million, which is well known in the state for its stoner-focused marketing.

Global brewers have invested time and resources in north America’s burgeoning cannabis drinks industry within the past five years, with most launching beverages that are infused with THC – the psychoactive component of the plant – or CBD, which is regularly cited as reducing stress or muscle pain.

Sweetwater, which was founded in 1997 by two university friends, does not make THC or CBD beers yet, but does target drinkers with an interest in cannabis through its 420 beer brands and an annual festival held on 20 April.

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Despite all the uncertainty surrounding the U.S. election, there’s a clear victor already: domestic cannabis companies.

Leaders across the industry cheered after marijuana measures passed in all five states that had them on the ballot Tuesday -- even in deeply red parts of the country. The results buoyed the biggest U.S.-based players in the market.

“Cannabis won, and won big,” said Boris Jordan, chairman of Curaleaf Holdings Inc., one of the largest cannabis companies. “It’s a green landslide.”

Canadian pot giant Aphria Inc. is maring its first trip south of the border after announcing plans to buy craft brewery SW Brewing Company LLC for approximately US$300 million. 

The deal will mark the Leamington, Ont.-based cannabis producer's initial foray into the U.S., a country whose pot industry it cannot operate in due to restrictions imposed by U.S. and Canadian stock exchange regulators. 

SW Brewing, better known as SweetWater Brewing Co., distributes its beer to 27 states in the U.S. and includes such brands as 420 Extra Pale Ale. "420" is a common term used in cannabis culture to signal the preferential time to consume the drug. 

Canopy Growth Corp. reported better-than-expected second-quarter results on Monday as the pot giant benefited from a sharp increase in recreational cannabis sales in Canada, despite a rise in operating expenses. 

The Smiths Falls, Ont.-based company said it made $135.5 million in its second quarter, an increase of 77 per cent from the same period a year earlier. Canopy also posted an adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) loss of $85.7 million, an improvement of 43 per cent from last year. 

Analysts polled by Bloomberg expected Canopy to report $119 million in revenue and an adjusted EBITDA loss of $88.9 million.

Which Marijuana Stocks to Buy for The Long-run?