The pot stocks have been rallying off-and-on for the past two weeks upon news of Diageo (NASDAQ:DEO) and Coca Cola (NASDAQ: COKE) looking for a partnership similar to Constellation Brands recent $4 billion dollar investment. We’ve kept our eyes on a few of these player from the start, let’s see how they are performing.
Tilray, Inc. (NASDAQ:TLRY)
This company just had their initial public offering in June of this year at $17 a share which effectively raised $153 million. Tilray is already manufacturing and selling cannabis and has recently received permits to export their product to Germany. The company has also already secured partnerships and licensing to grow, including a recent supply deal with Nova Scotia Liquors. Just this Tuesday, the company announced they will work with UC San Diego’s Center for Medicinal Cannabis Research performing clinical trials to test the effects of marijuana on neurological disorders. Today TLRY hit another 52-week high and continues to show signs of growth.
Canopy Growth Corporation (NASDAQ:CGC)
Canopy is another large producer who actually has a higher market cap right now than Tilray. Cannopy has already received investments from one of the top alcohol companes, Constellation Brands. The Corona producer recently announced their acquisition of 104.5M shares of CGC (38% stake). The investment also entails warrants that will provide up to $4.5 billion to Canopy. The partnership was noted to be Constellation Brands move into the cannabis space by forming an exclusive global partnership.
Aphria Inc. (OTC:APHQF)
This company is a bit smaller than Canopy and Tilray, but definitely packs-a-punch in terms of potential. Aphria has already propped up multiple supply agreements with different providences across Canada in order to attack the recreational market once sales start. The company also is noted to be one of the lowest cost producers in the game, something that is crucial in an output-based business.
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