Tilray and Canopy Growth are hot names for those looking for strong stocks
The long weekend is over, which means it’s time to get back to business and see how the marijuana industry and its stocks are performing. The volatile action still continues, and so it is necessary to be a little more cautious when looking for marijuana stocks to add to the portfolio. Even with unpredictable timing, the cannabis industry, in general, is still young and developing. More states are becoming legal, and companies are showing a significant increase in sales. Two of them specifically seem to be having a positive September, so considering them is definitely a good idea to start the week.
Tilray is by far one of the companies that cannot be missed in the conversations of industry experts. This company is essentially engaged in the research, production, cultivation, marketing, and distribution of medical cannabis products in Canada, Australia, Europe, the US, New Zealand, Latin America and other parts of the world.
Distribution Business, Cannabis Business, Alcoholic Beverages Business and Wellness Business are the four sectors through which the company operates. This opens a large window of opportunities in different markets that are really quite attractive to the consumer.
With a not-so-unequal relevance, there is Canopy Growth Corporation, a company that so far has proven to know how to navigate through the cannabis waters and its different challenges. Together with its subsidiaries, the firm focuses on the distribution, production and sale of cannabis and hemp-based products for recreational and medical purposes, mainly in Canada, the US and Germany.
In the middle of last month, the company announced how it fared in the first quarter of the fiscal year 2023. The report showed that net revenues for the first quarter of fiscal 2023 were flat compared to the fourth quarter of fiscal 2021. Still, it saw a doubled increase in international medical cannabis net revenues compared to the first quarter of last year.