Analysts expect these two leading cannabis companies to deliver greater results
As February comes to an end, cannabis stocks continue to show a lack of upward momentum. The lack of progress on federal reform could be one of the main reasons for this. As has been evident over the years, when positive news on the topic emerges, most of the cannabis sector reacts well. However, this is not the case, but there is still much to be done within the cannabis industry that could help the sector’s performance. With the current pullback, now is the right time to find the best cannabis stocks to buy.
One option that has never stopped being safe is offered by Tilray Brands. This leading company in the global cannabis industry bases its business on the cultivation, research, production, marketing and distribution of medical cannabis products in different parts of the world. With an expanded footprint in Canada, the US, Europe, Australia, New Zealand and Latin America, the firm has what it takes to continue to prove why its stock is worth buying.
On the other side is Canopy Growth Corporation, a company that is dedicated to the production, distribution and sale of hemp and marijuana-based products for medical and recreational purposes through the cooperation of its subsidiaries. Its operation in Germany, Canada and the US has proven to be quite solid, so much so that it led the company to announce its $150 million registered direct offering a few days ago.
“Canopy Growth is executing a strategy focused on accelerating growth and profitability by transforming our Canadian operations and fast-tracking entry into the US market,” said Judy Hong, chief financial officer of Canopy Growth, “Building on other recent actions taken to enhance cash flow, this attractive capital immediately adds to Canopy Growth’s cash on hand and provides additional flexibility to continue advancing strategic priorities.”