2 Top Canadian Marijuana Stocks To Watch Before Next Month

Currently, marijuana stocks in the last half of June have been facing a bit of volatility in the market. This has led to some cannabis stocks once again dropping back down. Now, these recent drops in trading have led to more chances to find top marijuana stocks to buy at bargain prices. Yet the concern amongst shareholders is when will a big enough recovery happen.

In 2019, the cannabis sector in Canada got its bubble burst; however, its comeback appears promising. Players in the field are slowly getting their footing back and settling into a different North American market versus pre-pandemic. More mergers and acquisitions are pointing to a more mature marketplace. But with cannabis, Canada and the United States offer two different tales.

In Canada, the low point was likely in the spring of 2020 when the number of manufacturing jobs in the Cannabis sector barely reached 2,000. According to the well-known career site, Indeed, the Canadian market presently has over 1,400 openings in the cannabis sector: a remarkable number. Things are certainly looking up for the cannabis sector in the country.

A new study from Dalhousie University shows Canadians are less eager for pot edibles than they were prior to legalization, and more have turned to legal sources for weed than before.

The study, titled “Perceptions of Canadian Consumers: Cannabis & Edibles – A New Assessment” compares Canadian attitudes toward cannabis products with previous studies conducted in 2017 (prior to legalization) and in 2019.

“We were intrigued that Canadians seem to be less enthusiastic about edibles since cannabis became legal,” said Dr. Sylvain Charlebois, Senior Director at Dalhousie’s Agri-Food Analytics Lab.

Red Market Brand (RMB) will give Canadian consumers an Indigenous option when it comes to purchasing Health Canada-approved cannabis products.

Founded by Isadore Day, former Regional Chief of Ontario, and Christian Sinclair, Onekanew (Chief) for the Opaskwayak Cree Nation, the long-term goal of the platform is “to establish a national network of First Nation-licenced producers who will supply Red Market and other First Nation cannabis products — all approved by Health Canada.”  

“The Red Market Brand is for full supply chain inclusion,” Day tells The GrowthOp, adding that RMB is meant to help correct what is seen as the government’s failure to meaningfully consult with Indigenous communities on the Cannabis Act.

Raymond James analyst Rahul Sarugaser likes the way Aleafia Health (Aleafia Health Stock Quote, Chart, News, Analysts, Financials  TSX:AH) is developing, saying in a company brief to clients on Wednesday that investors should see some better days ahead for both the company and stock.

Ontario-based Aleafia Health is a licensed producer of medical and rec cannabis, a provider of direct-to-consumer cannabis delivery and the largest provider of cannabis health services in the country. Aleafia has secured agreements with some of Canada’s largest unions and employers on insured medical cannabis services, including Unifor, the country’s largest private-sector union. 

Canadian pot producer Cronos Group (CRON) on Monday announced an arrangement to invest in PharmaCann, a large multistate cannabis company in the U.S. Cronos stock and other marijuana stocks fell.

Under the deal, Cronos — whose higher-ups already have connections with PharmaCann — said a subsidiary had purchased an option to acquire around 10.5% of the U.S. company, which runs marijuana production facilities and dispensaries across six states.

Since 2018, Cannabis has become a legal psychoactive substance in Canada. Since then we've seen progressive reforms. So progressive that some workplaces now permit the use of cannabis during office hours.

Seeing cannabis and the workplace in the same sentence might seem weird. However, it's the truth. Not all cannabis strains make the consumer couch-locked. Some induce a productive streak in the worker. It is commendable that some workplaces have decided to take advantage of this fact.

Some corporations may soon allow the consumption of a strain of pot during office hours, but this can only be done if the strain has been proven to have very little effect on reducing productivity levels.

Canadian Cannabis Stocks In 2021

Currently in June Canadian marijuana stocks are showing the most upward momentum in the market. After several months of consolidation, the cannabis sector appears to have found its bottom. So far this month some top Canadian marijuana stocks have gained double-digit percentages in the first two weeks of June. But Canadian cannabis companies are waiting for the US to open up the cannabis market federally so they can enter the American market.

Canopy Growth (NASDAQ: CGC) has been following a pretty strident strategy of restructuring the company as it keeps cutting assets and unwinding deals made by former CEO Bruce Linton.

The latest casualty this week was a deal with Aubrey “Drake” Graham to launch More Life Growth company. Drake originally made the deal in November 2019 with Linton. Under the agreement, Canopy sold 100% of its shares in a subsidiary to More Life in exchange for just 40% of the company. Drake held the remaining 60%.

Major Events For Top Cannabis Stocks In June

As Congress prepares to vote on Federal cannabis reform and legalization in June more investors are focusing on the top Canadian marijuana stocks to buy. This is primarily because eventually, federal reform could bring Canadian cannabis companies into the American cannabis market in the next few years. As it stands the Canadian cannabis companies have been preparing for entry into the US market since before the presidential election