Making the move to the New York Stock Exchange put Aphira on the list of stocks to watch this month
November is a transitional month for cannabis stocks in the United States. With legalization in Canada in October, followed by changes in marijuana laws in three US states the market has never been more unpredictable. Here are a three cannabis stocks to watch through the end of November.
Aphira has the potential to be the third largest cannabis producer in all of Canada. Additionally, Aphira began the month by making a major transition. It moved from the thinly regulated over-the-counter market up to the New York Stock Exchange.
Listing on the NYSE allowed Aphira access to numerous investors and institutions that are prohibited from purchasing from the over-the-counter market or foreign exchanges. Access to institutional investors is considered integral for stocks to fund their growth strategies.
Formerly known as Cannaroyalty, Origin House assumed its new name on October 22. The brand feels the new name better reflects its identity as the source of leading cannabis brands. Since making the switch, the stock has been outperforming its competition on the Canadian market.
The company holds a place as the top distributor of cannabis in California with over 130 branded products. It is sold in the majority of the state, but the core of its operations is distribution. Analysts predict Origin House will see sustained profitability in 2019.
The Ontario-based CannTrust is expected to report its quarterly operating figures on November 14. Analysts speculate the company has achieved close to CAD$9 million in sales and achieved a 91 percent increase year-over-year.